AI, energy, and value chain transitions offer growth opportunity for TCS, says Chairman
The Hindu
Three fundamental transitions that the world is currently navigating through--namely Digital & AI transition, energy transition and the transition towards global sustainable value chain--require significant investments in technology and innovation by all clients and offer tremendous growth opportunity for the company, Tata Consultancy Services Ltd. (TCS) chairman N Chandrasekaran told shareholders at the company’s Annual General Meeting on Thursday.
Three fundamental transitions that the world is currently navigating through--namely Digital & AI transition, energy transition and the transition towards global sustainable value chain--require significant investments in technology and innovation by all clients and offer tremendous growth opportunity for the company, Tata Consultancy Services Ltd. (TCS) chairman N Chandrasekaran told shareholders at the company’s Annual General Meeting on Thursday.
“Over the past decade, there has been a rapid evolution of digital technologies, bringing about a transformation across every industry. Now, the advancements in AI have made AI transition a central focus,” he said.
“The impact of AI and Machine learning is going to be profound. There is a transition already underway from predictive AI to generative AI,” he added.
Stating that majority of businesses were still adopting predictive AI and were on the journey of capturing large volumes of data, harnessing the power of the cloud and IoT, he said varying levels of adoption were underway in companies across sectors.
“Generative AI would further require technology investments and innovation,” he said.
Mr. Chandrasekaran said the global energy transition was accelerating and businesses were making clear commitments towards a sustainable future.
“Every industry is focused on innovation across sustainable products, services, manufacturing, and delivery. New business models are emerging. Again, this transition requires a large investment in technology, including electric mobility, renewable power, hydrogen, and sustainable fuel,” he emphasised.
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