Bengaluru, April 20 -- Cognizant Technology Solutions Corp. has become the first homegrown information technology (IT) services company to grant its board complete oversight of artificial intelligence, underlining the technology's importance amid an uncertain demand environment.

As part of its AI guidelines, the company's board of directors will monitor the use of AI tools and their financial impact on the company. It will also award top executives for implementing AI-related ideas and passing AI benefits to clients.

This decision comes as automation disrupts business models and threatens to erode IT outsourcing firms' revenues.

"Our Board understands that AI presents both strategic opportunities and risks across our business. The boar...