iNDICA NEWS BUREAU-
After two years of recessionary fears, high inflation, and unprecedented monetary tightening, the global macro-outlook looks relatively better now with improving growth, disinflation and monetary easing in sight, Tata Consultancy Services (TCS) Chairman N. Chandrasekaran said.
Geo-political challenges are continuing to alter established supply chains and companies are rebalancing their supply chains to address both resilience and efficiency, Chandrasekaran told IANS.
New global supply chain ecosystems are being created, with “India playing an important role in advanced manufacturing”, he mentioned in a letter to the shareholders on the company’s annual report for the fiscal year 2024.
Chandrasekaran said GenAI technologies would impact almost every sector and country. With enterprises already heavily investing in cloud infrastructure and data processing power, GenAI is poised to revolutionise productivity and drive unprecedented outcomes, he mentioned in the report.
In the report, Chandrasekaran wrote: “Business leaders want to use GenAI, but CIOs are grappling with how to best use it and how to manage the associated risks and investments.” He added that TCS clients who are early adopters have begun experimentation with various use cases of GenAI, with the company’s help.
“Advanced manufacturing, new technologies like AI, new energy, data and business models are changing the future of work and are compelling new skillsets to be built for the future,” he highlighted.
In FY24, TCS crossed annual revenues of Rs 240,893 crore, a growth of 6.8 per cent, over the previous year. The growth came at an industry-leading operating margin of 24.6 percent, an increase from 24.1 percent last year.
“AI, New Energy, Supply Chain and Talent will require substantial investment in technology across industry sectors,” said Chandrasekaran.
