Cognizant CEO Ravi Kumar S said the IT services industry has reached an artificial intelligence inflection point, with enterprises moving beyond experimentation to return on investment-driven adoption. He described the next phase of AI as more purposeful, focused on optimising models, improving productivity, and delivering measurable business outcomes. Kumar expects Cognizant to exit the year on a stronger footing, with growth accelerating in the second half. He said the industry's business model is shifting from effort-based services to outcome-based delivery, where AI, digital labour, and human talent together drive future growth. He noted that financial services in the US have benefited from deregulation over the last few years, calling this an inflection point. Kumar said AI is a tailwind to the IT services industry, with big winners ahead. He characterised the last few quarters as the first chapter of AI adoption—broad-based, open-ended, and experimental—while the second chapter is more ROI-led, nuanced, and deeper. Regarding guidance, he said Q3 (July-September) guidance at the midpoint is around 4.5% year-on-year, and Q4 (October-December) exit rate at the midpoint is going to be 6.5%.