AI agents to aid TCS staff: CEO Chandra
BENGALURU, June 10 -- Tata Consultancy Services Ltd (TCS) has seen the worst of its recent slowdown and expects artificial intelligence (AI) to drive its next phase of growth, chairman N. Chandrasekaran said Tuesday, outlining a future in which the country's largest technology-services company could eventually deploy as many AI agents as employees.
The comments, made at TCS's 31st annual general meeting (AGM), came as shareholders pressed management on the company's share-price performance and the impact of AI on jobs, growth and the broader technology-services industry.
Addressing concerns over the company's recent performance, Chandrasekaran argued that technology disruptions have historically weighed on growth, investor confidence and valuations before giving way to a new phase of expansion.Those shareholders who have remained with the company for the last 25, 30 years, or at least 20 years since we went public, you will know that we have faced technology disruptions, and every time there is a technology disruption, there is a transition time. Because the clients pause the adoption of technology. And you will see a slowness in growth, market loses confidence, and the share price goes down," Chandrasekaran said in response to shareholder questions on the stock's decline.At least a seventh of the 42 shareholders present at the AGM quizzed management on the fall in share prices, while four-fifths raised questions about AI and its impact on the company. TCS shares fell 0.1% on Tuesday to Rs.2,149.55, a six-year low. The stock has declined 33% since the start of the year, making it the worst performer among the country's five largest IT services companies....
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