Generative AI is reshaping tech services, threatening traditional revenue streams but creating a $200B+ opportunity by 2029. McKinsey advises IT service providers to reinvent their offerings, GTM models, and talent strategies to stay competitive. Gen AI is shifting enterprise spend from legacy services to AI-led productivity tools, foundational AI services, and vertical-specific solutions. Providers must offer packaged solutions, build new partnerships, and develop AI Centers of Excellence. Early movers can see up to 30% profit growth, while laggards risk revenue losses. Reinvention is not optional—it’s essential.

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