One of India’s IT services giants Tata Consultancy Servies (TCS) reported a net profit for the quarter at $1.13 for the September 2019 quarter. TCS’s revenue and margin growth slowed in the second quarter due to a slump in the retail sector, but the company remains optimistic about the future earnings report.
The company expects that retail deals will come to fruition in the next quarter. Regardless, the quarter was a steady growth period considering the ongoing recession.
For TCS, analytics and AI played a crucial role in helping them make a decent net profit. With a focus on scalable innovation, TCS has a critical focus on Business 4.0, leveraging the power of analytics, data maturity, cognitive technologies and automation for solving complex business issues, as told by N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, in a media statement.
For TCS, technologies like AI and IoT are helping the company grab partnerships with leading organisations and OEMs. As part of Business 4.0, the company says it is increasingly participating in key growth areas for its client tech spending, particularly in the cloud, data maturity and automation. While the company has grabbed multiple contracts from global and India clients for technologies like cloud, cybersecurity, blockchain, cybersecurity, app modernisation, here are the partnerships which focus on analytics.
Recent India-based Analytics Projects By TCS
Domestic contracts contributed 1.2 billion to TCS’s revenue in the fiscal year 2019. This year Tata Consultancy Group will lead India’s first-generation eGovernance projects, which will improve the government’s citizen services using analytics for projects including smart cities, tax system, healthcare and smart police.
The Reserve Bank of India has also chosen TCS as a partner to build a Centralised Information and Management System, having end-to-end data collection for assisting in data-driven business insights. Under this project, TCS will also build a next-gen AI platform for regulated financial exchanges, tracking India’s economic growth metrics.
Latest Analytics Projects In Automotive and Manufacturing
TCS already has contracts with big automotive companies for connected vehicles, autonomous vehicles systems and vehicle analytics. One example is the partnership with General Motors to create future global vehicle design and development. The automotive solutions help TCS derive valuable insights based on vehicle benchmarks for safety and emission. Even though the company has a strong presence in the automotive industry, he slowdown in the sector affected its profitability.
In partnership with Pandora, a Denmark-based jewellery producer, TCS is working to enable transformation with its Digital Workplace Studio solution. Here, the company is making use of next-gen analytics, cognitive automation to accelerate transformation and end-user security control.
Lifesciences Is Also Key Sector For TCS In Terms Data Analytics
The company has designed next-generation digital solutions such as Advanced Drug Development (ADD) and Connected Clinical Trials leveraging artificial intelligence, smart analytics and IoT for drug development and patient engagement. In fact, Life Sciences and Healthcare is one area where the company has seen the biggest growth in the last quarter at 16% growth rate.
Debashis Ghosh, Business Group Head, Life Sciences and Healthcare, TCS had recently said that AI and IoT are accelerating product innovation by transforming drug discovery and R&D value chain. The company has partnered with life sciences companies to enable business 4.0 framework, relying on predictive and prescriptive analytics, genomics research, advanced platform services, and cognitive enterprise processes.
Finance Sector Too Is Not Behind
For TCS, BFSI grew by 8%. Within BFSI, insurance is doing well. Large transformation projects are doing well. The company bagged deals worth $ 2.2 billion in banking and financial services. Recently, it has partnered Legal and General (L&G), one of the UK’s leading financial services groups to help transition the firm into an intelligent and automated digital workforce using TCS’ Machine First Delivery Model and design thinking approach.
As part of the initiative, TCS will leverage real-time analytics for personalisation and create a next-gen service desk for enterprise-wide collaboration. The service desk included TCS-built intellectual property such as Ignio, chatbots, digital assistants, speech recognition technology.
TCS is leveraging its Business 4.0 framework, MFDM and Enterprise Intelligent Automation business units to boost automation and artificial intelligence applications across retail, life sciences, manufacturing, and utilities, bringing in a $6.5 billion in total contract value in the last quarter.
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Vishal Chawla is a senior tech journalist at Analytics India Magazine and writes about AI, data analytics, cybersecurity, cloud computing, and blockchain. Vishal also hosts AIM's video podcast called Simulated Reality- featuring tech leaders, AI experts, and innovative startups of India.