TCS’ Chandra explains mega trends disrupting businesses and how IT cos can leverage them

TCS Chairman N Chandrasekaran has listed artificial intelligence, new energy, supply chain and talent as key factors that will disrupt businesses going forward.

AI and GenAI technologies are poised to revolutionize every sector and country, according to Chandrasekaran. “Enterprises have already invested in cloud infrastructure, data capabilities, and processing power, which will facilitate the adoption of AI and GenAI. These technologies are expected to enhance productivity and create unprecedented impacts that were previously unimaginable,” he said.

The TCS chairman explained how the so-called “mega trends” will disrupt businesses, and what IT services industry could use it to as leverage for growth:

• AI is transforming the IT service landscape by enabling automation, predictive analytics, and personalized customer experiences. IT service providers are leveraging AI technologies like machine learning and natural language processing to optimize operations and deliver innovative solutions to clients.
• The shift towards renewable energy sources presents new opportunities and challenges for the IT service industry. IT service providers are developing software solutions to optimize energy production and enhance energy efficiency.
• Global supply chain disruptions have highlighted the importance of resilient supply chains. IT service providers are leveraging technologies like blockchain and IoT to enhance supply chain visibility and responsiveness.
• In tandem, advanced manufacturing, driven by technologies like AI and new energy sources, is reshaping the future of work, necessitating the development of new skill sets.
• The demand for skilled IT professionals is increasing rapidly, and IT service providers are investing in talent acquisition and upskilling programs.

In fiscal year 2024, TCS made significant advancements by aligning with these industry trends, the TCS chairman said.

“The establishment of the AI.Cloud unit consolidated expertise in AI and Cloud technologies, while each business group developed tailored AI and GenAI solutions. Over 300,000 employees underwent upskilling in GenAI, enhancing workforce capabilities. TCS integrated AI into its products, including TCS BaNCS™, and enhanced cybersecurity with predictive AI,” he added.

Addressing the global energy transition, TCS invested in green hydrogen and biofuels research, alongside developing digital platforms for emissions reduction, pioneering communication technology, TCS engineered 5G/6G stacks and established labs for future-ready infrastructure.

“With a commitment to talent development, over 600,000 employees benefited from upskilling, totaling 51 million learning hours. Collaboration with educational institutions ensures a robust talent supply for continued growth and innovation,” Chandrasekaran said.