Tata Group firms executing over 100 GenAI projects: Chandrasekaran

PTI, May 31, 2024, 5:46 PM IST

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Mumbai: Tata Sons Chairman N Chandrasekaran on Friday said companies in the diversified group are executing over 100 generative artificial intelligence projects.

Addressing the group’s information technology (IT) services arm TCS’ 29th annual general meeting here, Chandrasekaran said all the projects have benefitted the group and that GenAI will have a significant impact on nearly every sector in the country in future.

“In Tata Group, we are in the midst of executing over 100 GenAI projects. All these projects are demonstrating very tangible business impact in terms of customer experience, productivity and efficiency,” he said.

In e-commerce, GenAI is helping Tata Group companies generate product catalogues, deliver conversational shopping experience and provide personalized offers, he said, adding that in manufacturing, GenAI is helping by enabling shop floor workers with troubleshooting.

Tata Group companies are also using GenAI to analyse large documents such as tender documents, and this is reducing sales cycles, Chandrasekaran added.

GenAI will not only improve productivity, but also create impact that has never been seen or imagined, he said, adding AI will empower every employee to perform at a higher level of productivity.

The chairman of the salt-to-software grouping said the world has enormous energy requirements but the energy demand estimates do not fully take into account the additional energy that will be required to power development of GenAI and the associated data centre infrastructure.

“The key is to lower the cost of renewable energy while making the shift towards renewables as a source,” he added.

He said apart from AI and new energy, supply chain, secure networks and talent are the key trends that are shaping the priorities for businesses.

Post the pandemic, which resulted in supply chain shocks, there was an economic slowdown especially in developed markets, he said, adding that the global economy is expected to grow at 3.2 per cent in 2024 and 2025.

“India in this environment is doing very well and is poised to do very well,” he added.