TCS study shows 86% business leaders deploying AI
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TCS study finds 86% of business leaders deploying AI to enhance revenue
A new study by Tata Consultancy Services (TCS) revealed that more than eight out of 10 (86%) senior business leaders have already deployed artificial intelligence (AI) to enhance existing revenue streams or create new ones.
The ‘TCS AI for Business Study’ also showed that 69% of businesses are more focused on using AI to spur innovation and increase revenue than on productivity improvement and cost optimisation.
The TCS Thought Leadership Institute surveyed nearly 1,300 CEOs and other senior executives with P&L responsibilities, across 12 industries and 24 countries. About half the companies had $1 billion to $5 billion in annual revenue and the other half had over $5 billion in revenue.
The study noted that executives are generally positive about the impact of AI, with 57% reporting excitement or optimism about the potential impact of AI on businesses. Among respondents in the study, 45% expect up to half their employees will need to use generative AI capabilities to do their job in three years’ time, and another 41% think even more will do so.
Most (65%) believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities that require creativity and strategic thinking.
India has highest data centre capacity in Asia Pacific: CBRE South Asia
Real estate consulting firm CBRE South Asia said India tops major APAC countries with the highest data centre capacity of ~950MW in the Asia-Pacific region (excluding China), overtaking major countries like Australia, Hong Kong SAR, Japan, Singapore, and South Korea. Moreover, India is likely to record the highest capacity addition of ~850 MW during the 2024-2026 period, higher than major APAC countries.
In its report, ‘Asia Pacific Data Center Trends Q1 2024’, CBRE said after India, Japan recorded the second-highest data centres (DC) capacity with 892 MW, followed by Australia at 773 MW, Singapore at 718 MW, Hong Kong at 613 MW, and South Korea at 531 MW.
The report noted the DC industry in India has experienced remarkable growth and transformation, with capacity doubling since the start of the pandemic.
In 2023, there was an addition of 255 MW of new supply compared to 200 MW in 2022, resulting in a total stock of approximately ~1,030 MW by the end of the year. This accelerated growth is expected to continue in 2024, with the planned supply of over 330 MW across various cities, potentially increasing the stock by 30% annually to reach around ~1,370 MW. The total DC stock in 2023 was ~16 million sq ft in India.
UST to train 25,000 of its employees on GenAI
Technology services company UST has launched a new initiative to train over 25,000 of its employees globally in generative AI (GenAI) and provide opportunities for career advancement. UST will offer a range of GenAI training programmes that are specifically tailored to its employees and their different roles and responsibilities, improving efficiency.
Nucleus Software appoints Surya Prakash Kanodia as CFO
Nucleus Software has appointed Surya Prakash Kanodia as Chief Financial Officer with effect from May 8, 2024. In his new role, Kanodia will be responsible for managing finances and capital markets, shaping portfolio strategies, undertaking major investment, and financing decisions, and communicating with key stakeholders.
Before joining Nucleus Software, Surya held the position of Head of Finance for Digital Operations and Platform business at Wipro.
Infosys partners with SAP Emarsys
Infosys will be collaborating with SAP Emarsys, a cloud-based, omnichannel customer engagement platform, to enable businesses to address the growing need for omnichannel customer engagement.
The collaboration is expected to help enterprises create high-impact marketing campaigns to boost revenue growth and customer experience by leveraging Emarsys’ customer engagement platform and Infosys Cobalt, a set of services, solutions, and platforms for enterprises to accelerate their cloud journey.
Through this collaboration, enterprises will be able to orchestrate complex industry-specific cross-channel marketing campaigns, reach customers in real-time, and drive customer loyalty through personalisation, according to Infosys.
Honeywell Automation India appoints Atul Pai as Managing Director
Honeywell Automation India Limited has appointed Atul Pai as its Managing Director, effective May 16, 2024. He succeeds Ashish Gaikwad who is taking on a broader responsibility as India Leader for Industrial Automation, one of Honeywell International Inc’s strategic business groups.
Pai joined HAIL in 2001 and has held several leadership roles. Pai spent eight years serving as Global CFO for Honeywell Building Solution and served as Operations Controller for Honeywell. He has been a Member of the HAIL Board of Directors since 2021. Pai is a qualified Chartered Accountant and holds a Bachelor of Commerce from Mumbai University.
Edited by Kanishk Singh