Hexaware Technologies is looking to develop metaverse solutions for various use cases including hybrid workplace and the fashion industry. The IT services company will also explore building non-fungible tokens (NFTs) as there is more regulatory clarity on it, said a senior company official.
Hexaware Technologies is looking at the whole metaverse and NFT space
“We’re looking at the entire metaverse and NFT sector, which includes blockchain,” says the researcher. For the past few years, we’ve been experimenting with blockchain. Once there is a better understanding of what types of use cases blockchain and currencies will be suitable for. We’ll look into incorporating NFTs into a number of blockchain-based use cases,” R Srikrishna, CEO of Hexaware Technologies, told BusinessLine.
“We are looking at sophisticated solutions like metaverse in the workplace,” he said of building hybrid work solutions. If Zoom and Teams become too much for you, you can have a different (digital) persona represent you. We’ve been developing solutions around it and generating end-to-end employee experiences.
The key task will be to teach AI to mimic your facial emotions and lip sync with your speech. Extend this to many types of meeting experiences. I believe that the consumer space and the workplace will be two major use cases for metaverse.”
For example, the fashion and entertainment industries can both benefit. In the Metaverse, people can wear high fashion online or attend real concerts, according to Srikrishna.
Double digit growth
In the calendar year 2021, the company has achieved over 20% revenue growth in the year and a half since delisting, he said. Hexaware Technologies currently operates on a calendar year rather than a fiscal year.
“Over the course of last year, we boosted growth every quarter,” he said. Our YoY growth was over 20% at the end of the year, similar to that of some of our fast-growing mid-cap counterparts. For fiscal year 2022, we expect to expand by more than 20% organically.”
Hexaware Technologies now has a $1.9 billion order pipeline, with roughly 40% of those projects including hyperscalers.
By the end of 2021, the company had grown to 25,000 employees, up from 15,000 in 2020. In fiscal year 2022, the corporation aims to hire 10,000 additional employees.