Tata Consultancy Services’ new Co-Innovation Hub in London will Help businesses in the UK Accelerate Digital Transformation
PRESS RELEASE
LONDON | MUMBAI, MARCH 20, 2024: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has announced the opening of its new Pace Port™, a dedicated innovation hub in the heart of London that aims to drive and accelerate innovation-led growth in the United Kingdom while helping businesses bring innovation to life.
With its strategic location in the heart of London, the TCS Pace Port Innovation Hub is set to become a dynamic center for cutting-edge technology, research, and development in the region. Leveraging TCS's extensive expertise in technology-based business transformation, the hub will serve as a catalyst for the adoption of innovation-led solutions. This will include emerging technologies that will empower businesses in the UK to navigate a volatile marketplace, address evolving business needs, and drive growth. The Pace Port will focus on innovation across a cross-section of industries, government priorities and critical national infrastructure while creating an ecosystem of experiences.
Amit Kapur, Head of UK & Ireland at TCS commented: “UK businesses are committed to investing in technology and digital solutions to transform their business and operating models. Bringing our global network of Pace Ports to London will provide an environment that fosters collaboration, drives innovation, and helps businesses in the UK harness cutting-edge technology, collaborate and grow across industry borders into ecosystem models. Establishing the TCS Pace Port London in the heart of the city reflects TCS’s unwavering commitment to fueling innovation, catalyzing and contributing to the economic growth of the United Kingdom.”
A key emerging technology for many businesses is Artificial Intelligence (AI), and TCS is already advising businesses in the UK and Ireland on adoption strategies. In a recent TCS survey of 100+ corporates in the UK and Ireland, two-fifths (41%) of UK and Irish businesses are largely AI-driven already or well-positioned to accommodate and leverage AI's capabilities and benefits. With more than a third (37%) of UK and Irish executives predicting their workforce will interact with Generative AI daily in the next three years, the need to have a strategic approach to AI is becoming urgent. As a co-innovation hub, our London Pace Port will give businesses in the UK the right tools and expertise to create a refined digital and AI strategy and support the UK government’s vision of being a front-runner in the AI race while accelerating innovation-led growth in the region.
“Enterprises across industries are looking for ways to quickly adopt AI and Gen AI to enhance their competitive differentiation. At such a time, they need a partner who has a deep understanding of this technology and the right infrastructure to help them find new use cases, experiment, and implement the best PoCs at scale to make the most of this trend,” said Marc Hardwick, Senior Research Director, TechMarketView. “TCS aims to bring its deep competence in AI along with other next-gen technologies at its new Pace Port in London. Interestingly, TCS is setting up the center to be a hub for co-innovation not only with clients but also with the larger ecosystem – academia, start-ups and technology companies. Pace Port should be a huge positive for TCS’ customers, helping them drive innovation at scale and more, more consistently.”
“Our state-of-the-art Pace Port London will foster a collaborative ecosystem through TCS’ IP, technology expertise and Co-Innovation Network (COIN™) spanning multiple disciplines including experts from the start-up, research and academia in the UK that will help co-innovate and co-create solutions for UK businesses,” said Harrick Vin, Chief Technology Officer, TCS. Pace Port London is the next step in our continued effort to help our clients innovate at speed and scale.
TCS’ global Pace™ innovation methodologies, Research, Intellectual Property, Co-Innovation Network, and skilled team of experts will support organizations in the region to bring innovations to life and launch new digital products and services at speed and scale. The innovation hub will help businesses in the UK explore the future, build scenarios and new propositions, improve innovation capabilities, design improved customer experiences, create new offerings, explore ecosystem business models, deliver AI and Generative AI projects, create innovation strategies, and sharpen innovation operating models.
London is the sixth Pace Port to open in TCS’ global Pace network, following Amsterdam, New York, Paris, Pittsburgh, Toronto and Tokyo. TCS is committed to nurturing local talent and upskilling the workforce. The London Pace Port will offer programs and initiatives to attract and develop skilled professionals, providing them with opportunities for continuous learning and growth.
TCS' investment in the UK reinforces its dedication to supporting the British economy and local communities. The Pace Port will not only generate job opportunities but also foster innovation and contribute to the UK government's vision of becoming a global tech leader.
TCS has operated in the UK for more than 45 years and works with over 200 of the nation’s best-known and most-loved businesses including British Airways, Virgin Atlantic, Aviva, Sainsbury’s, Nationwide, Phoenix Group, M&S, M&G, Asda and Boots. TCS is amongst the leading suppliers of software and IT services to the UK market, by revenue. It currently employs more than 23,000 people in the UK and Ireland, making it among the region’s biggest IT employers. TCS has been ranked the number one IT service provider for customer satisfaction in the UK in an independent survey of CIOs from the largest IT spending organizations in the country.
For more information about the new London Pace Port and TCS’ worldwide Pace accelerator network, please visit: https://www.tcs.com/what-we-do/pace-innovation
TCS Pace Port London
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 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions 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 603,305 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE 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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