Tata Consultancy Services (TCS) has been named one of Fortune Magazine's World's Most Admired Companies, according to the latest corporate reputation barometer. Notably, TCS recently recorded a USD $2 billion increase in brand value and was rated as the second most valuable IT services brand in the world.
Such recognition was based on the demonstration of exceptional innovation, social responsibility, global competitiveness and higher quality of products and services. Over the past twelve months, TCS has built one of the largest AI-ready workforces globally, training more than 150,000 of its personnel in generative AI.
TCS successfully maintains six Pace Port co-innovation hubs, 24 Centres of Excellence, and 14 innovation labs worldwide. These platforms effectively aid in delivering best-in-class offerings to customers, allowing ample opportunities to co-innovate with partners in academia. A prime example of this collaboration is the successful launch of the GoZero Hub in Australia, created in partnership with Macquarie University.
The World's Most Admired Companies list is hinged on a survey of over 3,700 senior business executives and financial analysts. It ultimately recognises companies exemplifying outstanding innovation, social responsibility, global competitiveness and high-quality products and services.
Surmounting its innovative drive, as of 31st December 2023, TCS had applied for 7,852 patents and had been awarded 3,458, evidencing its culture of significant innovation. Beyond providing value for its clientele through creativity, the company actively seeks chances to co-innovate with clients and partners in academia.
Speaking on the recognition, K. Krithivasan, Chief Executive Officer and Managing Director at TCS, described the company's focus towards technology-driven innovation. "TCS has always prided itself on constantly reimaging and reinventing itself, and helping our clients derive value from successive waves of technological innovation. With rapid advancements in Artificial Intelligence, we are now geared up to scale experimentation and realise the potential of this opportunity."
"Being named to Fortune's list of the World's Most Admired Companies is an honour. It bolsters our global brand, underlines our culture of innovation and ability to attract the best talent worldwide, and recognises our track record of enabling high-value business transformation for our customers."
The company has set out to construct one of the world's largest AI-ready workforces. More than 150,000 staff have been trained in generative AI. This upskilling strategy is exemplified by the launch of the TCS AI Experience Zone, an interactive platform that enables associates to explore GenAI tools whilst upholding responsible AI principles.
The Fortune recognition follows a series of accolades for TCS. The company recently posted a USD $2 billion increase in brand value, earning the status of the second most valuable IT services brand in the world according to the 2024 Global 500 IT Services Ranking by Brand Finance. In December 2023, TCS also received two AWS Partner Awards for playing a key role in helping customers drive innovation and build solutions.