IT Industry to Rebound Stronger Despite AI Fears, Says Ramesh Damani

• Veteran market investor Ramesh Damani allayed investor fears over artificial intelligence at the News18 Rising Bharat Summit.
• Damani stated that while new winners and losers will emerge, there is no significant fear of AI, and the IT industry will return bigger and stronger.
• He noted that industries and companies adapting to AI-driven changes will succeed, despite a 20% fall in IT stocks this month.
• Another veteran investor, Madhusudan Kela, expressed optimism for the IT industry's medium-to-long term prospects, highlighting India's potential as a global AI solutions provider.
• Ace investor Vijay Kedia sees significant opportunities in proxy sectors for AI in India over the next 10-15 years.