A 2026 IT Transformation Study by Natuvion and NTT Data Business Solutions surveying more than 1,100 international executives and IT specialists found that 76 percent use AI during transformation projects, while 71 percent must adapt their migration methodology during execution. Today, innovation, AI, and long-term competitiveness are at the center of transformation strategies, representing a significant shift from prior years when cost pressures dominated. Data quality continues to be one of the biggest barriers to successful transformation, with the challenge becoming more important as AI becomes more deeply embedded in enterprise transformation. 55 percent of top management view AI as an important driver of innovation, positioning it as a strategic priority. The findings underscore that while enterprises are rapidly adopting AI for transformation work, execution remains unpredictable, suggesting organizations need better planning and governance frameworks around both methodology and data foundations.
Why it matters
Enterprise transformation initiatives are now fully AI-dependent, but the majority still fail to execute as planned, creating execution risk for CIOs and CFOs managing these programs. Large organizations relying on planned, predictable transformations need governance frameworks and data quality improvements to avoid the 75 percent deviation rate reflected in the survey.
Indian financial institutions have undertaken an unprecedented rush to raise capital overseas, with banking lenders collectively issuing more than eight billion dollars in dollar-denominated bonds this year as of mid-August, surpassing the previous full-year record of 7.92 billion dollars set in 2019. The surge has been driven by multiple banks capitalizing on a Reserve Bank of India facility that reduces hedging costs on overseas borrowings, with issuances accelerating dramatically in August alone. Major participants include ICICI Bank, which has raised three billion dollars across multiple tranches; HDFC Bank, which secured 1.75 billion dollars through twin bonds; State Bank of India; and Kotak Mahindra Bank, making its debut dollar bond sale at 650 million dollars. Debut issuers such as IDFC First Bank and Union Bank of India have also tapped the market. The bonds typically carry three to five year maturities with coupon rates between 5.0 and 5.5 percent, with spreads tightening as lenders find strong investor appetite. Bankers expect an additional five to six billion dollars in issuances through year-end, as the RBI's concessional swap window remains open until December.
Why it matters
Indian banks are securing cheaper funding ahead of potential tightening, while the record pace reflects both favorable global conditions and domestic policy support. Bank treasurers, equity and bond investors, and those monitoring rupee stability should track this trend as it signals capital adequacy planning and domestic liquidity conditions.