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 Innovotion 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.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2108.3 as compared to the previous close of Rs. 2151.75. The total number of shares traded during the day was 100949 in over 7554 trades.
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