How AI Is Helping India's Largest IT Company, TCS – Entrepreneur

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By Entrepreneur Staff May 31, 2024
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Post the pandemic, which resulted insupply chain shocks, there was an economic slowdown especiallyin developed markets. Despite these evolving global landscape marked by economic fluctuations and geopolitical tensions, Tata Consultancy Services (TCS) has shown resilience and adaptability. The company recognizes Artificial Intelligence (AI) as one of the major mega-trends across industries shaping priorities of businesses.
Emphasizing on the importance of GenAI, N Chandrasekaran, Chairman, TCS, said that the technology will have a significant impact on nearly every sector and country in future. “All industries will witness higher productivity. Enterprises have already invested in cloud, data infrastructure and large processing power which will aid AI/ Gen AI. GenAI will not only improve productivity, but also create impact we have not seen or imagined,” he said.
The deployment of AI and GenAI will significantly help financial institutions in both driving efficiency as well as target new customers and serve customers in a very personalized manner. In advanced manufacturing, an AI-first approach will drive new benchmarks in productivity, efficiency and sustainability. Telecom industry globally is upgrading communications infrastructure to 5G/6G. These high speed, low latency networks, along with edge computing and AI will become the backbone of business in future. “In the Tata Group, we are in the midst of executing 100-plus Gen AI projects which are demonstrating tangible business impact on customer experience, productivity and efficiency,” he added.
The Tata Group is using GenAI in e-commerce for developing product catalogs, delivering conversational shopping experience and providing personalized offers. In manufacturing, Gen AI is enabling shopfloor workers to troubleshoot complex equipment by asking questions in their native languages, thereby improving productivity. “Companies are utilizing Gen AI to analyze large documents such as tender documents to significantly reduce the sales cycle. AI will empower every employee to perform at a higher level of productivity,” the chairman added, addressing the audience during the annual general meeting of TCS.
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