 "N Chandrasekaran,Chandrasekaran")
Generative artificial intelligence (GenAI) will affect nearly every sector and country and enhance productivity and worker empowerment, said N Chandrasekaran, chairman of information technology services major Tata Consultancy Services (TCS), highlighting many other beneficial aspects of AI.
Tata Group is executing over 100 GenAI projects.
Addressing the 29th annual general meeting (AGM) of TCS, Chandrasekaran said: “Our GenAI projects are demonstrating an impact on customer experience, productivity and efficiency.”
In e-commerce GenAI is being used to generate product catalogues, deliver a conversational shopping experience, and provide personalised offers.
“In manufacturing, GenAI is enabling shop-floor workers to troubleshoot complex equipment by asking questions in their native languages, thereby improving productivity,” he said in his address to the shareholders.
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He added companies were utilising GenAI to analyse large documents such as tender documents to reduce the sales cycle.
Talking about the impact of AI and GenAI on businesses, Chandrasekaran said these would help financial institutions in driving efficiency as well as targeting new customers and serve customers in a personalised manner. It will allow accelerated drug development, and in advanced manufacturing an AI-first approach will drive new benchmarks in productivity, efficiency, and sustainability.
“Insurance claims will be processed in a matter of minutes, and lending and disbursement will be faster. AI is accelerating drug development by screening millions of compounds, predicting interactions and generating new candidates for testing,” he added.
Talking about TCS’ efforts to ramp up its capabilities in GenAI, Chandrasekaran said the company was focusing on creating its own AI and Gen AI-led IP and platforms.
“TCS has enhanced its Mastercraft product suite with GenAI capabilities to generate business applications. TCS has created a platform for generating front-end applications based on business requirements in natural language. To help customers in their adoption of GenAI, TCS has built a platform that helps enterprises select the most cost-effective LLM (large language model) for their context,” he added.
TCS is investing and building capabilities to partner customers during this phase of rapid technological shifts.
“In FY24, TCS consolidated AI and cloud expertise with the creation of the AI.Cloud unit. In addition, each of the business groups is developing domain specific AI/Gen AI offers,” he added.
