IT services company Tata Consultancy Services (TCS) is significantly investing in artificial intelligence (AI) capabilities which include products and platforms that are AI-powered, Chairman N Chandrasekaran said in a letter to shareholders. “Over the last few years, the company has leveraged partnerships to design and orchestrate a completely indigenous software-defined 4G/5G network stack. 5G technologies along with IoT, edge and AI will enable new digital transformation opportunities across industries, both industrial and consumer. We will also invest in research areas important for the future, in collaboration with our global academic partners and start-up ecosystem,” he said.
“We work with large enterprises on transformation initiatives to build a digital foundation for the future, enable strategic leverage of data and artificial intelligence (AI) and reimagine customer and employee experiences,” said N Chandrasekaran. He maintained that there has been a rapid evolution of digital technologies bringing about a transformation across every industry. He said, “The impact of AI and Machine learning is going to be profound. Majority of the businesses are still adopting predictive AI and are on the journey of capturing large volume of data, harnessing the power of cloud and IoT,” adding that leveraging generative AI would further require technology innovation and investments.
Building talent for future
While talking about building a workforce or team that’s aligned with the technological advancements, the chairman of the IT firm said, “The energy, supply chain and AI transitions are going to require companies to reskill/upskill existing talent base, hire and integrate new talent and invest in research. Our technology strengths make us well-placed to respond to the global demand and scale up our talent base.”
With the future of work evolving, enterprises globally are assessing their approach to talents. He said that while the companies today can tap into talent anywhere, leaders need to learn how to harness the global talent pool effectively. “Technology and tools are facilitating collaboration and enabling virtual and hybrid models of work. Harnessing this talent will need an approach that leverages technologies like AI and cloud to enable effective employee engagement and collaboration,” he said.
TCS reported its fiscal fourth quarter net profit at Rs 11,392 crore, up 5 per cent from the previous quarter. TCS net profit missed Rs 11,562 crore net profit for Q4FY23 estimated by CNBCTV18 poll. TCS revenue too fell a bit short of poll expectations, recording at Rs 59,162 crore in the fiscal fourth quarter.