During TCS’s first-quarter (Q1) earnings conference on July 11, CEO and MD K Krithivasa announced that Tata Consultancy Services (TCS) is working on around 270 AI projects. The company’s pipeline for artificial intelligence (AI) and Generative AI (Gen AI) projects has reached USD 1.5 billion since the first quarter ended June 30.

This places TCS in a competitive position, with a cumulative Gen AI revenue approaching that of rival Accenture, which stands at USD 2 billion.

As of March 31, 2024, the fourth quarter, TCS had USD 900 million worth of AI projects coming to a close. Krithivasan emphasised that TCS has seen a significant increase in the number of engagements going into production.

By June 30, 2024, the company had requested 8,194 patents, with 154 requests made during the quarter. Additionally, the company has received 4,146 patents, including 227 granted during the quarter.

During the Nasscom Technology and Leadership Forum (NTLF) 2024 in Mumbai, Krithivasan talked about the development of Generative AI. He warned that it is still in its early stages in many cases, mostly used for experiments and proofs of concept (PoCs).

He mentioned that it’s too soon to consider Gen AI mainstream or attribute it to reducing the workforce.

It was also reported that the company’s WisdomNext platform, designed to facilitate enterprise adoption of Gen AI at scale, has been well-received by customers, indicating strong traction for TCS’s AI offerings in the market.

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