Tata Consultancy Services (TCS) Chairman N. Chandrasekaran said in a letter to shareholders that the company has grown despite the global uncertainty surrounding the IT industry over the past few months. . “TCS has performed well in a volatile global environment over the past year. In 2023, TCS will achieve 17.6 percent growth and an industry-leading operating margin of 24.1 percent. We ended the year with orders of $34.1 billion,” he said. In his letter, he noted how TCS is investing in AI technology to keep up with the industry. “The world is undergoing several key transitions that require significant investments in technology and innovation, presenting significant growth opportunities for the IT industry.The global energy transition is accelerating. The company demonstrates a clear commitment to a sustainable future.Also read: Former TCS CEO Rajesh Gopinathan earned 29.16 RP in FY2023, 427 times median compensation. “Enterprises are still adopting predictive AI and are on a journey to collect data and harness the power of the cloud and IoT. Harnessing generative AI will require even more innovation and investment. “TCS is making significant investments in building AI capabilities, including AI-powered products and platforms,” the letter reads. Chandrasekaran believes that in the near to medium term, he sees growing interest and investment potential in technologies such as 5G, IoT and power generation. AI, Virtual Reality/Metaverse, Digital Twins and More Related Article: TCS Q4 Financial Highlights: Net Profit Up 14.8% to Rs 1,143.6 Billion, Revenue Surges 16.9% Establish partnerships with companies India leads the way The TCS Chairman said India is leading the way in ‘digital-first’ manufacturing, noting the role it plays in the global supply chain ecosystem. Related Article: TCS Q3 Results: Net Profit Up 11% To Rs 1,088.3 Billion, Revenue Up 19% “Emergence of new business models requires investment in technology and innovation. A new global supply chain ecosystem is being built with India playing a key role towards changing the supply chain ecosystem to establish the manufacturing of Advances in AI will make the transition to AI a central focus, and the impact of AI and ML will be enormous. Leveraging generative AI will require more innovation and investment. A new digital transformation will be enabled by making significant investments in AI capabilities, including IoT, edge, and AI-powered products and platforms such as 5G,” he said in the letter. rice field. Pension Scheme for Teachers New leader Chandrasekaran also paid tribute to outgoing CEO Rajesh Gopinathan. Gopinathan will remain with the company until September 16 to ensure a smooth transition to his successor, K. Kritivasan, who will take over the baton on June 1. We thank Rajesh Gopinathan for his contributions during his tenure as CEO and CEO. The MD and I wish him the best of luck in the future. I would also like to take this opportunity to wish K Krithivasan the very best in his new role as CEO and Chief Executive Officer. I’m the MD of TCS,” he said.
