Artificial intelligence and data are key differentiators for enterprises at present and the change in technology consumption reflects the prevailing trends in the economy, Tata Group chairman N Chandrasekaran said in the TCS annual report released on Wednesday.
He said that the past couple of years has been a period of intense action and reflection with a global pandemic, geopolitical tensions, supply chain disruptions, the rise of cryptocurrency and much other public and private upheavals.
“Artificial intelligence and data are key differentiators for enterprises today. TCS helps its customers stay ahead of the game by investing in research and innovation, tapping the intellectual capital within the organization,” Chandrasekaran said.
He said that the recent events have accelerated digital adoption, put the spotlight on supply chain resilience and added urgency to the sustainability imperative.
“Each of these represents an opportunity that can contribute towards the growth of not just your company, but of the ecosystem as a whole,” Chandrasekaran said.
He said that TCS has shown remarkable resilience and adaptability, coming out stronger than ever, after catastrophic events like the global financial crisis or the pandemic.
TCS in 2021-22 crossed a milestone of USD 25 billion in revenues, experiencing strong growth of 15.9 per cent, adding all-time high incremental revenue of USD 3.5 billion.
“Even more satisfyingly, this growth has come with an industry-leading operating margin of 25.3 per cent. Since the start of the last decade, the company has grown over four times, comfortably outperforming its largest global competitors,” Chandrasekaran said.