India’s largest IT services company Tata Consultancy Services (TCS) has said it has more than 250 generative AI opportunities in the pipeline and completed training over 100,000 employees in the field, which has emerged as the new tech frontier with global giants racing to grab the biggest share of the pie.
Speaking at TCS’ Q2 earnings conference on October 11, CEO and MD K Krithivasan said generative AI had caught everyone’s attention. "At our customer summit, everyone was talking generative AI as a key theme and how they are trying to leverage it for new product and services. Given that there is an overhang of economic uncertainties, there are discussions around how do you optimise projects, is there an opportunity to consolidate operating model transformation?”
COO N Ganapathy Subramaniam said the company was making investments in people and new technologies. "We now have a 100,000-strong pool of Gen-AI Ready consultants and prompt-engineers who are engaged in hundreds of Gen-AI projects for our clients across segments,” he said.
The Mumbai-headquartered tech major launched its AI.Cloud unit in the July-September quarter, bringing together TCS’ three hyperscale-dedicated cloud units and specialists in data sciences and AI/machine learning.
“Cloud migration, composite data foundation, application modernization, workplace transformation and edge to cloud, coupled with AI adoption frameworks continued to drive growth in Q2,” the company said in a statement.
TCS reported a net profit of Rs 11,342 crore for the September quarter, growing 8.7 percent YoY, driven by a strong order book, especially in the BFSI segment.
Consolidated revenue came in at Rs 59,692 crore, growing 7.9 percent YoY. TCS's order book stood at $11.2 billion, which is its second-highest quarterly deal total contract value to date.
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