TCS To Focus On New Energy, Supply Chain, Secure Networks & Talent These trends are leading to evolution of the future of work and are compelling new skill sets to be built
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TCS recognizes new energy, supply chain, secure networks and talent as significant mega-trends across industries globally, these trends are shaping the priorities of businesses.
The global energy transition is accelerating, and businesses are making clear commitments towards a sustainable future. The energy requirement of a fast-changing world is enormous. The current energy demand estimates do not fully take into account due to Artificial Intelligence (AI). "The processing of large amounts of data consumes a lot of energy. The key is to lower the cost of energy while making the shift towards renewable sources," said N Chandrasekaran, Chairman, TCS.
For partnering with customers on their energy transition journey, TCS is investing in research on green hydrogen, biofuels; developing digital platforms to help customers reduce Scope 1/2/3 emissions. It has developed a proprietary ESG framework to build transparency into operations and simply compliance reporting. In addition, global customers are working with TCS to use the IP TCS has built to enable this transition to a sustainable future.
Emphasizing on the importance of supply chains, he said that geo-political challenges continue to alter established supply chains and globally companies are rebalancing their supply chains to address both resilience and efficiency. New global supply chain ecosystems are being created with India playing an important role in advanced manufacturing.
In today's world secure networks have become a key necessity as data is the foundation for businesses. These networks power everything from predictive analytics and AI to personalized customer experiences. As the value of data increases, along with concerns of privacy and protection, it has rightly become a focal point of security for all businesses.
The above trends are leading to evolution of the future of work and are compelling new skill sets to be built for the future. "Our approach to talent is strategic whereby we recognize our employees as key stakeholders in our growth. With a workforce of more than 6-lakh, our workforce continues to be very diverse, with over 152 nationalities represented and with women making up 35.6 per cent of the employee base. All of this continues to help the company to deliver the right financial results and value to shareholders," the chairman added.
"Our commitment to sustainability is in line with Project 'Aalingana', Tata group's sustainability roadmap. This involves integrating sustainability into our business and focusing on three interconnected pillars i.e. promoting decarbonization across our company and value chains, adopting a systematic circular economy approach to reduce resource usage and waste, and safeguarding and regenerating the environment. We have set a target to reduce our absolute Scope 1 and Scope 2 emissions by 70 per cent by 2025 and become net zero by 2030. We are well ahead of our targets and have achieved a reduction of 80 per cent in Scope 1 and 2 emissions in FY 2024 over a baseline of 2016," he explained.
Looking forward, TCS sees greater opportunities ahead, not only for its business and shareholders, but also for India. "Our integrated business model will continue to help us benefit from each new wave of technological change and be a force multiplier for growth and can set new standards in technology, sustainability and skills development," the chairman added, addressing the audience during the annual general meeting of TCS.
