Indian public sector banks are accelerating IT spending to protect customer data and core financial systems as newer AI tools raise the cybersecurity stakes. Tools such as Anthropic’s Claude Mythos are being flagged for their potential to enable or amplify attacks. Banks are simultaneously upgrading defenses while a government panel evaluates AI-driven cyber risks to keep the sector secure.
Gartner says AI is powering a sharp rise in global IT spending to $6.31 trillion. For India, the shift toward AI creates openings in managed services, as firms retool budgets and operations. But traditional IT services providers face margin squeeze because customers expect cost savings as AI adoption scales. India can also focus on AI infrastructure support rather than building massive local data centers.
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