What are the challenges posed by the convergence of AI and software intelligence, particularly in terms of modernising and transforming systems? What do you see as the most significant challenges in this area for 2024, and how is CAST addressing them?
Although the hype around AI as a panacea for every challenge didn't begin in 2024, it certainly escalated with the emergence of generative AI technologies. There is a common misconception that AI could potentially replace human capabilities entirely. Over the past two years, we have collaborated with AI experts to delve into this very issue. The reality we have observed is that while AI is incredibly powerful, it requires continual input and training to be effective. For instance, asking ChatGPT about the current Indian prime minister is not something AI automatically knows; it must be trained with the relevant data. This principle applies equally to software intelligence. Just as AI needs training, software intelligence technology-which analyses and interprets software data-can be deployed to 'educate' AI. By doing so, AI becomes more adept at understanding the software in question, thereby enhancing its ability to address the complexities of system modernisation and transformation.
Given that you operate in India, which is one of your key markets, we are interested to know how the Indian market differs for you in comparison to the US or European markets.
For context, there are about 4.5 million software engineers in the U.S., but in India, the number is even greater, nearing five million. From a business perspective, this makes the Indian market significantly larger than the U.S. market, especially for our niche in software intelligence and custom software applications.
The Indian market is robust, with major players across sectors like telecommunications and banking, as well as global capability centers (GCCs) and a vibrant, emerging fintech scene. These companies are developing complex software systems where our expertise in software intelligence can provide substantial benefits. We have been operating in India for about seven to eight years and have seen consistent growth. Looking ahead to the next three to five years, we anticipate this period to be particularly exciting and expect significant developments.
How do you see the opportunities for CAST in the GCC space which seems to be booming lately?
The Indian market presents a huge opportunity for CAST, particularly within GCCs that manage hundreds or even thousands of custom-built applications. Despite extensive knowledge of business processes and costs, the leaders of these GCCs, such as CIOs, often lack clear, comprehensive insights into their software assets due to their complexity. CAST offers a low-cost solution that provides detailed metrics on key aspects like cloud readiness, green computing, and technical debt. This enables GCC leaders to improve the health of their software assets efficiently, tailoring improvements specifically to areas like environmental impact or cloud migration.
Our discussions with CIOs in major insurance companies in the U.S. and France highlighted a common challenge: maintaining service quality and gaining visibility into the operational status of software assets. CAST technology addresses this by enabling automated, detailed insights into the software's state, crucial for reporting back to parent companies and justifying investments. It is a strategic imperative for heads of GCCs in India to consider our platform seriously, given its proven value and immediate benefits.
There is a trend of increasing compliance and security risks associated with evolving technology. How do you see these risks impacting open-source software space in India?
In custom-built applications developed in India, up to one-third may be open-source software. This includes both highly secure and insecure options, and both legally compliant and non-compliant components. CIOs, VPs of application development, and heads of global software engineering face the challenge of discerning the quality of open source used. Despite tools available to track the quality of open source, developers might bypass these controls, increasing the organisation's legal and security risks. CAST's software intelligence technology adds a layer of oversight for top management by analysing software assets and pinpointing specific open-source risks.
Open-source boosts productivity through reusability, but it's crucial to reuse the right components. Many executives, especially in large banks and telecom companies in India, are often unaware of exactly what is inside their software assets. While developers are trusted, they are not typically accountable for the software's security, efficiency, or legal compliance. Our technology provides executives with visibility into the software's internals to effectively manage and mitigate risks.
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