Tata Sons Chairman N Chandrasekaran on Friday said the diversified group's companies are running over 100 generative artificial intelligence projects.
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“Across the Tata Group, we currently have over 100 GenAI projects underway. All these projects are demonstrating highly tangible business benefits in terms of customer experience, productivity and efficiency,” he said.
In the e-commerce space, GenAI is helping Tata Group companies create product catalogues, provide conversational shopping experiences and deliver personalised offers, he said, adding that in the manufacturing space, it is helping by enabling frontline workers to troubleshoot.
Tata Group companies are also using GenAI to analyze large volumes of documents such as tender documents, thereby shortening sales cycles, Chandrasekaran added.
Elaborating on TCS' strategic investments, Chandrasekaran said the company has consolidated its AI and cloud capabilities into a dedicated AI.Cloud unit and developed domain-specific offerings across business groups. This includes upskilling over 300,000 employees in GenAI technologies. TCS is also focusing on partnerships in the areas of AI, quantum computing and cybersecurity while creating its own AI-driven platforms and tools.
The company's total capital expenditure for FY24 is Rs 265 billion, which is lower than usual due to project disruptions caused by the COVID-19 pandemic, Chandrasekaran explained.
He said that IT investments are not declining but are decentralizing.
First, megatrends such as digital, AI, GenAI, the energy transition, modern supply chains and secure networks are changing the way we live. “So all of this will require significant technology investments,” he said.
Chandrasekaran added that overall technology spending is very strong and TCS is in a very good position.
