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TCS CEO said AI will not cut the jobs in India and Globally
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K. Krithivasan, CEO and managing director of Tata Consultancy Services (TCS), India’s biggest IT services company, said that generative AI would not cause people to lose their jobs in general.
In a recent interview, the CEO of TCS argued against the idea that generative AI would cost jobs. He said, “The world is going to need more and more people, not fewer people, in terms of technology talent, and India has so many people.”
“Gen Al’s ability to generate new data and content is accelerating innovation across industries. We anticipate broader adoption in fiscal year 2025, with a focus on seamless integration with existing workflows using a ‘human-in-the-loop’ approach.”
Krithivasan said that Gen. Al’s effects would last longer than expected, so don’t expect to see results in the next two to three quarters. Even though generative Al has the potential to change things, Krithivasan doesn’t think it will have a big effect right away.
In the March quarter, TCS’s Al and GenAl pipelines doubled to $900 million. In a recent earnings call, Krithivasan stated that he is gradually seeing a few GenAl use cases move into production.
He stated that Gen-Al consistently innovates in new technology and that customers seek Proofs of Concept (POCS) to enhance the efficiency of application development, maintenance, and deployment automation.
It will take time for all of GenAl’s advantages to become apparent, and businesses and society still have a lot of problems to solve. Some of these are dealing with the risks that come with GenAl, retraining and upskilling employees, and rethinking how core business processes work. Krithivasan stated in the most recent earnings call, following the release of the fourth quarter results for the fiscal year 2024, that customers want to progress beyond proofs of concept (POCs) and pilots by implementing the necessary safety nets.
Together with AWS, TCS will teach 25,000 of its employees new general skills. Amazon Web Services (AWS) and TCS just announced a partnership in which AWS will help TCS train 25,000 of its employees in the latest cloud and general skills. The multi-year partnership aims to accelerate cloud transformations and provide customers with access to GenAl Solutions, according to a statement.
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