Tata Consultancy Services (TCS) has been focusing majorly on Artificial intelligence (AI), the new tech frontier. At its annual general meetings (AGM),TCS said that the overall demand environment is expected to remain volatile amid macro-economic challenges.
N Chandrasekaran, chairman, TCS said that the company is taking massive strides to be more AI-centric.
“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…There is a transition already underway from predictive AI to generative AI,” he said.
Chandrasekaran, who considers TCS to be strong in predictive AI, generative AI, cloud and IoT space, is confident that all these areas will be adopted by TCS clients at least in the short-term inspite of a volatile environment.
Talking about the challenges brought forward by generative AI, Chandrasekaran concurred that every technology has to be used responsibly, adding, “Countries across the globe will regulate generative AI to be used responsibly.”
In May, TCS and Infosys launched their generative AI offerings TCS Generative AI and Infosys Topaz.
Even though TCS doesn’t give forward guidance, Chandrasekaran feels that in the mid-to long-term the company is well-positioned to leverage trends like artificial intelligence, energy transition, supply-chain shift and the need for new skills.
“I believe that the growth for medium to long-term is going to be strong. But in the nearby quarters there will be volatility in different markets on customer spending, especially in the discretionary projects. It will go across sectors—some places it will be BFSI, others it will be manufacturing or retail,” he said.