Tata Sons chairman N Chandrasekaran on Friday said companies in the diversified group are executing over 100 generative artificial intelligence projects.
Addressing TCS’ 29th annual general meeting, he said all the projects have benefitted the group and that GenAI will have a significant impact on nearly every sector in the country in future.
“In Tata Group, we are in the midst of executing over 100 GenAI projects. All these projects are demonstrating very tangible business impact in terms of customer experience, productivity and efficiency,” he said.
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In e-commerce, GenAI is helping Tata Group companies generate product catalogues, deliver conversational shopping experience and provide personalised offers, he said, adding that in manufacturing, GenAI is helping by enabling shop floor workers with troubleshooting.
Tata Group companies are also using GenAI to analyse large documents such as tender documents, and this is reducing sales cycles, Chandrasekaran added.
Detailing TCS’s strategic investments, Chandrasekaran mentioned that the company has integrated AI and cloud capabilities into a specialised AI.Cloud unit and developed domain-specific offerings across business groups. This includes upskilling over 300,000 employees in GenAI technologies. TCS also focuses on partnerships in AI, quantum computing, and cybersecurity, while creating proprietary AI-driven platforms and tools.
The company’s total investment in capital expenditure for FY24 was Rs 2,650 crores, which Chandrasekaran described as less than usual due to paused projects during the COVID-19 pandemic.
He said IT spending is not coming down, but is getting staggered. As the world is going through uncertain times, the technology spend for all corporations globally will only increase, Chandrasekaran said.
One is because the megatrends such as digital, AI, GenAI, energy transition, moderan supply chains and secure networks, are changing the way of living. “So, all of these will require significant tech investments,” he said.
The overall spend on technology is very solid and TCS is in a very good space, Chandrasekaran added.
From: financialexpress
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