It was good to see my former employer, EPAM Systems, making headlines for all the right reasons. I previously served as a Director of Program Management running their St. Petersburg office, and I have immense respect for the company and its people.
A recent report confirmed they are raising their annual financial forecasts, citing significant, rising demand for AI-driven services. I agree completely with their outlook—the AI boom is not just hype; it’s translating into real enterprise investment.
The Market Signal
The report highlights that companies across major sectors like finance, healthcare, and consumer goods are actively spending on building out their AI capabilities. EPAM’s updated forecast reflects this reality:
- Annual revenue growth projected at 13-15%.
- Adjusted earnings per share also revised upward.
- Q2 revenue already jumped 18% to $1.35 billion, surpassing market estimates.
These aren’t speculative numbers. They are a direct indicator that businesses are moving beyond pilot programs and are now focused on integrating AI into their core operations.
The Shift to Foundational AI
What I find most insightful is the comment from incoming CEO Balazs Fejes: “As our clients prioritize their AI-readiness and preparatory actions, they are increasingly turning to us to build out their data and AI foundation.”
This perfectly captures the current state of the market. The initial excitement is maturing into the necessary, complex work of building robust data infrastructures and AI-ready architectures. This is the essential groundwork required to deploy meaningful AI solutions. It confirms that the demand is not for superficial features but for fundamental engineering, which is a strong, healthy signal for the entire industry.
It’s great to see a company I know well succeeding by focusing on real engineering value. It validates the work we are all doing in the AI space.
Reference: Software provider EPAM lifts annual forecasts on AI-driven demand - Channel News Asia