TCS Doubles Generative AI Confidence

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Hey there! Your AI Memelord, Mohit Pandey, saw the TCS financial report last night and guess what? This time, the company has proven that, like other Indian IT firms, their generative AI initiatives are more than just hype.  Let’s dive right in  — Tata Consultancy Services (TCS) has ramped up its AI game, almost doubling its AI pipeline to $1.5 billion this quarter, from the $900 million pipeline reported in the previous one. The company is now working on around 270 AI projects worldwide. Moreover, in Q1, the IT giant applied for 154 patents and was granted 277 patents, as revealed by TCS chief K Krithivasan. ‘2 Din Mein Paisa Double’? Regardless, Krithivasan said that TCS is still only experimenting with generative AI, admitting that deriving business value would take time.   “For you to get the value out of generative AI, it is not one isolated use case that you can do. You have to get your data pipeline right. Sometimes you may have to get the traditional AI models right as well. It has to work in combination with multiple other technologies,” he said.  To take this even further, TCS established a Global Artificial Intelligence Center of Excellence in Paris. It has rolled out TCS AI WisdomNext, a platform that combines various generative AI services into one easy-to-use interface. So far, Krithivasan said, the platform is seeing strong engagement. When it comes to the headcount, chief HR officer Milind Lakkad said that 70% of TCS’ employees are returning to the office. The reason for this, according to him, is linked to TCS’ variable pay policy, which was altered in April to make working from home a key determinant for calculating variable pay.  Last quarter, TCS also announced that it had trained over 350,000 employees in AI/ML, including generative AI.  This brings in the question - what happened to the 80,000 job openings that the company couldn’t fill earlier?  Here Comes Infosys Infosys will announce its results on July 18, but there are a few predictions that can be made.   Infosys co-founder Nandan Nilekani recently revealed that the company’s early investment in generative AI (through the Infosys Topaz platform) has positioned it as a leader in AI services, with recognition from seven out of eight leading analysts.  “Infosys is fully prepared to deliver value. We made an early investment last year in building a strong generative AI offering portfolio through Infosys Topaz. Today, we are ranked as a leader in AI services by seven out of eight leading analysts,” Nilekani stated. Infosys is currently managing over 225 generative AI programs for its clients. A key aspect of executing these complex transformations is talent.  “We have invested significantly in hiring talent with proven generative AI skills as well as rapidly upskilling our existing engineering talent,” Nilekani emphasised. Infosys now boasts over 250,000 employees trained in generative AI.  It is clear that as TCS has doubled its AI pipeline, Infosys is expected to match their pace, emphasising even more on its generative AI spending during its financial call next week. Wipro, HCLTech, Tech Mahindra to Follow Suit The same is likely the case for Wipro, which will announce its report on July 19th. Last year, Wipro announced that it will invest $1 billion over the next three years.  In its last earnings call, the company showed that it was confident with its generative AI work. New chief Srini Pallia said that AI is one of the priorities for its clients, with the company training more than 225,000 employees in AI 101.  HCLTech is also not behind. The results that would be announced today are expected to have major AI announcements as the company has not shied away from generative AI. The IT giant only recently partnered with Arm for the augmentation of custom silicon chips for AI-driven business operations.   Recently, HCLTech and IBM also announced a new collaboration to establish a Generative AI CoE based on the IBM watsonx AI and data platform to train 10,000 of its engineers and architects.  And undoubtedly, Tech Mahindra, which has been making significant strides in generative AI with the recent launch of Project Indus for just $5 million, will take an even more dedicated approach to generative AI when it announces its results on July 25th.  All in all, generative AI is moving into business for Indian IT, finally.  Another interesting thing to note is that HCLTech, Tech Mahindra, and TCS have also partnered with the Indian government as part of the INR 6,000 crore initiative to develop software for quantum technologies.  So, it’s safe to say that Indian IT is definitely making the right bets at the moment. Soon, Running LLMs Locally Will Be a Pro Feature for Flagship Smartphones A recent report published by Canalys suggests that by the end of 2024, 16% of new smartphones shipped will be generative AI-capable, with this figure expected to rise to 54% by 2028.  Why is running LLMs locally important? Privacy. Sure, the performance may vary based on the hardware.  Read the full story here. NEWS OpenAI has generated an impressive $3.4 billion in revenue, largely attributed to its ChatGPT offerings. Microsoft introduced the fastest, most intelligent Windows PCs ever: Copilot+ PCs, are available for pre-orders in India. Indegene has announced a strategic collaboration with Microsoft to empower global life sciences companies to scale up the adoption of purpose-built, enterprise-grade GenAI services. Oracle announced the general availability of Exadata Exascale, an intelligent data architecture for the cloud, delivering high performance for AI, analytics, and mission-critical workloads. Hugging Face has announced its profitability with a team of 220 members, marking a significant milestone in the competitive AI startup landscape. AIM Workshop: RAG & Fine Tuning in GenAI with Snowflake Join Prashant Wate from Snowflake India for an exciting workshop on RAG & Fine Tuning in GenAI. Learn how to optimise models and create seamless AI apps effortlessly.  Date: July 25, 2024   Time: 6 - 7.30 PM  Register now!  AI Conclave Wonders Cypher 2024 marks a significant expansion as it celebrates its 8th edition by branching out to the USA in addition to its already established presence in India.  Browse through the links below to learn more about the different editions of Cypher 2024.  Click here to know more about Cypher India 2024 Click here to know more about Cypher USA 2024  These links will guide you to comprehensive event information, including agendas, speakers, registration details, and more. Enjoying Sector 6 (formerly AIM Daily XO)? Share it with colleagues or friends – they can sign up here.   We love hearing from our readers! Have thoughts on our new format? Questions, comments, or ideas are always welcome. If there’s a specific topic in AI or analytics that you're curious about, tell us!  Reach out to us at info@analyticsindiamag.com. Stay tuned for more insights in our next edition! Curated with ♥️ in Namma Bengaluru

                                                           

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