Tata Consultancy Services’ Efforts on Embedding Explainable AI in Digital Twin Solutions and Focus on Engineering as well as IT Services, Cited as Key Strengths
PRESS RELEASE
NEW YORK | MUMBAI, September 08, 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been recognized as a Leader in Everest Group’s PEAK Matrix® for Digital Twin Services[1]. TCS was placed highest for Market Impact, Vision and Capability among the 16 IT service providers assessed in the report.
According to the report, TCS’ strong set of digital twin specific solutions and its focus on embedding explainable AI in these solutions will aid enterprises accelerate and better understand the decision-making process of their digital twin outcomes.
The report said that TCS’ well-distributed client base across geographies is a strong proof point for enterprises seeking digital twin implementation across their global footprint. Highlighted as a key strength is its balanced focus on engineering as well as IT services provided to customers that is instrumental in scaling digital engagements for clients.
“Clients are partnering with TCS to leverage our expertise and intellectual property in IoT and digital twin technologies for not just operational insights and optimization of the performance of their assets, but also to conduct rapid what-if analyses to resolve business problems around new product launches or new segment targeting, and take evidence-based decisions to power their business growth,” said Krishnan Ramanujam, President, Enterprise Growth Group, TCS. “This Leadership position is a recognition of our vision, strategy, offerings, investments and the business value delivered through our comprehensive solutions.”
TCS offers a comprehensive portfolio of digital twin services and solutions to help enterprises enhance resilience and drive competitive differentiation by leveraging real time data from their physical products, processes and systems for more accurate prediction and decision-making. TCS’ services span consulting, design and implementation, maintenance and management. These services are being adopted by customers across telecom, manufacturing, transportation, logistics, consumer products and goods, automotive, aerospace, banking financial services and insurance, energy, utilities, healthcare, life science and hi-tech industries banking financial services and insurance. Key solutions include:
- TCS TwinX™: A business experimentation platform for purpose-built replicas (twins) of enterprise entities in a virtual environment. Combining cutting-edge research on AI and actor model of computation, these twins can be subjected to business experimentations to aid simulation-based, justification backed decision-making.
- TCS InTwin™: A customized AI-powered platform which enables organizations to accelerate development and deployment of digital solutions. It unlocks the power of knowledge, data and engineering sciences to make industrial plants intelligent, responsive and future-ready.
- TCS Connected Universe Platform: An end-to-end IoT platform for enterprises to develop, deploy, and manage IoT applications securely and with ease. Its powerful asset and asset hierarchy modeling capabilities, data acquisition and visualization capabilities and a suite of powerful algorithms enable digital twin applications such as TCS InTwin to predict asset behavior, estimate remaining useful life and optimize key process parameters such as yield.
“The need to be digitally unified is increasingly becoming a key priority for enterprises. To this end, digital twins are aiding firms in reducing downtime, improving tracking and tracing of products, and bettering the monitoring of asset conditions by simulating multiple scenarios,” said Alisha Mittal, Vice President at Everest Group. “TCS is helping enterprises dive into the benefits of digital twins by offering a strong set of digital twin-specific solutions and platforms. Its focus on embedding explainable AI in these solutions will aid enterprises in understanding the decision-making process of their digital twin outcomes. Its global footprint and balanced focus across engineering and IT position it well for scaling digital twin engagements.”
[1] Digital Twin Services PEAK Matrix® Assessment 2022, Everest Group, Akshat Vaid, July 2022
About Tata Consultancy Services (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 over 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 606,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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 MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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