India’s leading IT company, Tata Consultancy Services (TCS), is currently developing AI and generative AI projects worth $900 million, said CEO and MD K Krithivasan during the Q4 2024 earnings call. This figure nearly matches the revenue achieved by rival Accenture, which totaled $1.1 billion in the first two quarters.
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“Following the launch of our AI.Cloud unit, we have observed a notable increase in market interest. To date this year, we have secured over 200 AI engagements,” said Krithivasan.
“During this quarter, we saw significant demand for Cloud, data platforms and Gen AI across industry segments. Clients are seeking to harness these technologies to reimagine customer experience, simplify their technology estate and transform their operating model,” said the company in a statement.
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TCS recently announced that it has trained over 350,000 employees in AI/ML, including GenAI. Moreover, TCS is also a launch partner for the newly announced AWS Generative AI Competency.
TCS has successfully applied AI to transform various aspects of its customers’ value chains. Notably, they’ve utilised GenAI to enhance the airline customer experience during flight disruptions, enabling natural conversations and offering alternative routing options.
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Furthermore, TCS has leveraged GenAI capabilities to simplify and streamline the contract review process, improving clause identification and validation, version control, and ultimately enhancing contract closure agility and risk accuracy.
In the cybersecurity domain, TCS experienced robust growth, particularly in Identity and Access Management (IAM), Governance Risk Compliance, and Network Security. The integration of AI and GenAI into security offerings has garnered significant interest and traction from clients across diverse sectors.
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TCS’ AI and GenAI Security solutions have seen notable adoption, reinforcing its capabilities in providing comprehensive and integrated cybersecurity services