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Tata Consultancy Services’ strategic partnerships, its investment in next-gen technologies like GenAI with propriety solution like TCS AI WisdomNext™, and focus on innovation are cited as key strengths.
New York | Mumbai, Sep 18, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, has been positioned as a Leader in Everest Group’s Capital Markets IT Services PEAK Matrix® Assessment 2024.
Of the 27 leading Capital Markets IT services providers assessed in the report, TCS was placed highest for its Market Impact. Highlighting how TCS is augmenting its capabilities to support clients across the globe, the report says, “Acquisitions such as PBS, Bridge Point Group, and Digital Design Studios has enabled TCS to expand its digital transformation and user experience service offerings and enter new geographies.” The report also talks about TCS’ strategic partnerships with hyperscalers, leading technology providers and Fintechs to co-innovate and develop joint GTMs.
It goes on to speak about TCS’ continued investment in innovation with development of IP, tools and accelerators in areas such as AI/ML, Cybersecurity, Blockchain, Decision fabrics, ESG and Governance framework. Putting the spotlight on TCS Chief Data Officer (CDO) innovation lab, it talks about lab’s role in facilitating active partnership with clients to co-innovate on data-driven and AI/ML-powered solutions.
The report positions TCS AI WisdomNext™ Platform as a key capability that is helping the firm tailor generative AI solutions for capital market clients and accelerate their growth journey with its AI services orchestration, broker platform, reusable components, and pre-configured models.
Furthermore, the report also highlights TCS’ active investments in emerging research topics, and developing Proof of Concepts (PoCs) in areas such as Generative AI (digital assistance for advisors), quantum computing (portfolio optimization and time series forecasting), and trustworthy AI.
“Emerging technology, evolving regulations, and focus on sustainability is pushing capital market firms towards newer operating models. In the journey towards building a transparent, risk-free and compliant business and achieving sustained performance, TCS has been a trusted partner for global capital market firms,” said Shankar Narayanan, President & Business Head, BFSI TCS. “This positioning as a Leader bears testimony to TCS’ vision to drive growth for our capital market customers with next-gen themes like ESG, Generative AI and hyper-personalization.”
With more than four decades of capital markets experience, TCS brings to its clients full-service play covering business, digital and IT consulting, application development and maintenance, infrastructure services, cognitive operations and product implementation.
With a strong footprint across the entire capital markets value chain, TCS has been driving key transformation programs for its clientele across various themes including:
"TCS is advancing its digital transformation capabilities for capital markets and expanding into new geographies through strategic acquisitions," says Kriti Seth, Practice Director, Everest Group. "Their robust partnerships with industry leaders, such as Orchestrade and Finastra, foster co-innovation and develop joint go-to-market strategies. TCS's investment in proprietary technologies, including AI/ML, blockchain, and ESG frameworks, along with their Chief Data Officer innovation lab and Wisdom Next platform, exemplify their commitment to data-driven innovation and generative AI solutions. All of these factors have helped TCS to earn a Leader recognition on Everest Group’s Capital Markets IT Services PEAK Matrix® Assessment 2024."