India, March 17 -- The rapid rise of large language model platforms such as Anthropic, OpenAI and Google Gemini has put the global IT services model in serious jeopardy of becoming obsolete. Dramatic as that sounds, I believe it is precisely the right framing, says Vijay Pullur, CEO and Co-founder, WaveMaker.ai

Since January 20 through the last week of February, shares of virtually every major global IT services company have dropped between 20 and 30 per cent. Accenture was down roughly 30 per cent. IBM was down 24 per cent, with a single-day 13 per cent decline around February 23-24. Wipro and Coforge shed nearly 25 per cent. TCS, Infosys and HCL Tech are all trading at multi-year lows.

The only comparable sector decline in such a comp...