Revenues from artificial intelligence (AI) and AI-infused solutions already account for over 50% of Hexaware Technologies’ work and revenue, according to CEO R Srikrishna. The mid-sized IT services firm disclosed the figure for the first time at Hexaware AI Day 2026 here on Friday, as it unveiled a strategy to build new revenue streams around its AI-led delivery model, Zerovity.
“If you think about the current platform, we just put a number for the first time today that greater than 50% of our revenues is already AI-infused. We use AI in more than 50% of our work. More than 50% of our revenue,” R Srikrishna, CEO, Hexaware Technologies, said.
Hexaware reported revenue of $405 million or Rs 3,845 crore in Q2CY26. The company follows the January-December calendar year. Large IT players such as TCS reported annualised AI revenue of $2.6 billion in Q1FY27, while Infosys and HCLTech reported AI revenue of $417 million and $171 million, respectively. However, these companies do not disclose the share of AI’s share in their overall revenue.
At the centre of the AI strategy is Zerovity, an AI delivery layer that brings together six layer’s of Hexaware’s capabilities across modernisation, cybersecurity, engineering, operations, quality and enterprise software under its “Zero Friction Enterprise” framework.
Hexaware sees around $200 billion of addressable market Zerovity solutions. For instance, The company estimates a $48-billion total addressable market for Zero License, one of the AI layer which help enterprises replace end-of-life or sunset SaaS products with custom-built alternatives.
“The SaaS market globally is $900 billion,” Srikrishna said, adding that while the entire market is not an opportunity for Hexaware, there are clients that may want to move away from legacy or sunset SaaS products. Similary, it sees addressable market at $65 billion for Zero Tech Debt and $25 billion for Zero Vulnerability layers. “There are estimates for the COBOL replacement market at a trillion (dollars). We think $29-30 billion is addressable in that,” Srikrishna said.
Workforce Shifts
Srikrishna expects the share of freshers in the IT workforce to rise over the next two to three years. “It is reduced right now for us, but my personal view is that in a two-to-three-year timeframe,” Srikrishna said, adding that while freshers are more talented than their more experienced counterparts, clients are not too inclined. “I think that will change,” he said.
“They are writing agents in their first year or even before they come to college,” Srikrishna said, adding that older employees had to undergo extensive training to acquire similar skills.
On a post by a threat actor alleging the possible exposure of employee information, Srikrishna said an internal investigation had found no reliable evidence of a breach of Hexaware’s systems or customer environments.
He said the employee IDs mentioned in the alleged data breach were five-digit codes, whereas Hexaware’s employee IDs comprise 10 digits. He also said some of the fields mentioned in the alleged data did not match the company’s systems.
“We take everything very seriously. We are investigating top to bottom, more than once, and have brought in an additional consultant to validate it,” Srikrishna said.