Will at least two of Accenture, Cognizant, Infosys, Globant and EPAM report negative year-over-year constant-currency revenue growth in any single reported quarter ending on or before 2027-09-30?

Labor-intensive IT services revenue turns negative

Clients capture AI productivity gains and reset prices at renewal or in-source routine build and run work, so each booked dollar converts into less revenue than the dollar it replaced. Modern frontier models have recently acquired the capabilities needed for system integration work, reading obscure dialects, mapping fields across systems and inferring business rules, which compresses billable hours even when project volume holds. Constant-currency revenue turns negative at two or more of Accenture, Cognizant, Infosys, Globant and EPAM in a single quarter, confirming demand destruction rather than cyclical softness.

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