New Delhi, June 9 (IANS). Tata Consultancy Services Chairman N Chandrasekaran on Tuesday said Artificial Intelligence (AI) is not a threat but a big opportunity for the technology services industry. Also said that the company’s income from AI has been increasing continuously for the last four quarters.
During this period, the compound quarterly growth rate (CQGR) increased by 22 percent. Last quarter, annual revenue from AI was around $2.5 billion.
Speaking at the 31st annual general meeting of TCS, he said that in the next three years, the number of AI agents in the company could be equal to the number of employees, which would be a big change in the way work is done at TCS.
Chandrasekaran said the company is doing “the most important work” in its history as AI is transforming the global technology services industry.
According to Chandrasekaran, three-fourths of companies feel that spending on technology may increase in the next two years due to the adoption of AI.
He said that despite investor concerns and the recent stress on the entire IT sector, the company’s fundamentals remain strong; This includes stable margins, growing revenues and a strong deal pipeline.
He explained, “Today, AI exists primarily in the world of software and computers, but it will soon make its way into the real world, such as stores, factories, warehouses, energy networks, vehicles, and supply chains. This will require experts who know how to connect IT, AI, and physical equipment and infrastructure.”
Addressing concerns about job losses due to AI in the IT services industry, he acknowledged that an important question has come up: If AI can do most of the work, what will happen to the sectors built to provide those services?
However, he said this fear is based on a misunderstanding of how AI will work with enterprise systems.
–IANS
abs
