TCS Collaborates with Qualcomm to Launch New Innovation Hub to Develop Next-Gen AI Solutions with 5G
Tata Consultancy Services’ Hub to Explore New Use-cases Across Industries That Help Enterprises Innovate Faster, Deliver Superior Customer Experiences and Generate New Revenue Streams
NEW YORK |HYDERABAD, November 20, 2019: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced the launch of a first-of-its-kind Innovation Hub in Hyderabad, India. With support from Qualcomm Technologies, Inc., an industry leader in wireless technology, the new hub will be used to build domain-specific solutions that utilize the combinatorial power of AI, IoT and 5G technologies to help global enterprises across industries accelerate their digital transformation journeys.
Designed to facilitate massive data flows with very low latency and ultra-high reliability, 5G and edge computing are expected to transform every industry in the coming years. The technology industry ecosystem anticipates a new wave of technology investments from progressive enterprises looking to harness the power of 5G, AI and other emerging technologies. The new hub will utilize TCS’ expertise in digital technologies, along with Qualcomm Technologies’ depth in 5G, edge AI and edge devices to build solutions to entirely new use-cases.
The Innovation Hub will explore the possibilities opened up by 5G in different industries – such as healthcare, automotive, manufacturing, retail, utilities. Solutions developed at the hub will help customers embrace new business models, offer differentiated products and value-added services, deliver sophisticated customer experiences, and generate new revenue streams.
“The convergence of 5G, AI and edge computing will open unprecedented opportunities for value creation in industrial automation, autonomous vehicles and other industries,” said V Rajanna, Global Head, Technology Business Unit, TCS. “The new Innovation Hub brings together TCS’ and Qualcomm Technologies’ world-class technology expertise to unlock the potential of transformational solutions in this emerging space to help global enterprises explore the art of the possible and accelerate their Business 4.0™ journeys.”
“Artificial Intelligence coupled with 5G has the power to transform the world, simplifying and enriching our daily lives. Qualcomm Technologies has been working persistently to achieve this transition by creating the essential components that will help enable the development of these exciting new experiences. We are thrilled to extend our long relationship with TCS into a more strategic collaboration through the Innovation Hub and explore new and innovative use cases of 5G technologies and AI relevant to India and enterprises across the globe,” said Rajen Vagadia, Vice President, Qualcomm India Private Limited and President, Qualcomm India & SAARC.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 450,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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