Latest news with #KekiMistry
Economic Times
11 minutes ago
- Business
- Economic Times
At TCS AGM, AI-led disruption, automation, geopolitics in focus
The world is facing upheavals on multiple fronts—tariffs, wars, and disruption due to artificial intelligence (AI), said Keki Mistry, non-executive and independent director at Tata Consultancy Services (TCS), as he presided over the 30th Annual General Meeting (AGM) of the company. Tata Sons chairman N Chandrasekaran could not chair the meeting due to 'certain exigencies.' 'We are presently engulfed by uncertainty at multiple fronts. The global economic connections are being reconfigured on a daily basis from tariffs to supply chains, wars and conflicts across regions, to the disruption posed by artificial intelligence. The world faces upheaval at several levels,' said the veteran business executive and former CEO of HDFC. The board of directors recommended a final dividend of Rs 30 per share for the fourth quarter, which brings the total annual dividend for the year to Rs 126 per share. TCS' shareholder payout was Rs 45,588 crores with a payout ratio of 94%.Looking ahead, TCS plans to focus on four strategic pillars: establishing a large pool of AI agents working alongside the human workforce, delivering solutions to a human plus AI model, and investing in AI data centres as well as partnerships, Mistry pointed out that the geopolitical landscape has reshaped how global businesses operate—reimagining their systems, processes, and technologies. 'Among all the shifts, it is the potential of generative artificial intelligence that stands apart. Unlike previous technological revolutions, which arrived sequentially across the globe, GenAI is emerging everywhere simultaneously… GenAI is not just another tech cycle. It represents a generational shift.'
Indian Express
9 hours ago
- Business
- Indian Express
India's TCS says none of its systems were compromised in M&S hack
Tata Consultancy Services said none of its 'systems or users were compromised' as part of the cyberattack that led to the theft of customer data at retailer Marks and Spencer, its client of more than a decade. 'As no TCS systems or users were compromised, none of our other customers are impacted' independent director Keki Mistry told its annual shareholder meeting. 'The purview of the investigation (of customer) does not include TCS,' Mistry added. This is the first time India's No 1 IT services company has publicly commented on the cyber hack. M&S did not immediately respond to a request for comment. TCS is one of the technology services providers for the British retailer. In early 2023, TCS reportedly won a $1 billion contract for modernising M&S' legacy technology with respect to its supply chain and omni-channel sales while increasing its online sales. The 'highly sophisticated and targeted' cyberattack which M&S disclosed in April will cost about 300 million pounds ($403 million) in lost operating profit, and disruption to online services is likely until July. Last month, Financial Times reported that TCS is internally investigating whether it was the gateway for a cyberattack. Mistry presided as the chairman at the company's annual shareholder meeting as Tata Group Chairman N Chandrasekaran skipped it due to 'exigencies'. The chairman's absence comes as the Group's airline Air India plane with 242 people on board crashed after take-off in Ahmedabad last week, killing all passengers except one.
Time of India
20 hours ago
- Business
- Time of India
India's TCS says none of its systems were compromised in M&S hack
Tata Consultancy Services said none of its "systems or users were compromised" as part of the cyberattack that led to the theft of customer data at retailer Marks and Spencer , its client of more than a decade. "As no TCS systems or users were compromised, none of our other customers are impacted" independent director Keki Mistry told its annual shareholder meeting. "The purview of the investigation (of customer) does not include TCS," Mistry added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Superior Selection: 20 Extravagant Cars on the Planet Undo This is the first time India's No 1 IT services company has publicly commented on the cyber hack. M&S did not immediately respond to a request for comment. TCS is one of the technology services providers for the British retailer. In early 2023, TCS reportedly won a $1 billion contract for modernising M&S' legacy technology with respect to its supply chain and omni-channel sales while increasing its online sales. Live Events The "highly sophisticated and targeted" cyberattack which M&S disclosed in April will cost about 300 million pounds ($403 million) in lost operating profit, and disruption to online services is likely until July. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Last month, Financial Times reported that TCS is internally investigating whether it was the gateway for a cyberattack. Mistry presided as the chairman at the company's annual shareholder meeting as Tata Group Chairman N Chandrasekaran skipped it due to "exigencies". The chairman's absence comes as the Group's airline Air India plane with 242 people on board crashed after take-off in Ahmedabad last week, killing all passengers except one.
Time of India
21 hours ago
- Business
- Time of India
TCS provides update on Marks and Spencer hacking that will cost British retailer over $400 million
Tata Consultancy Services (TCS) has stated that none of its "systems or users were compromised" in the cyberattack that led to the theft of customer data at its client, British retailer Marks & Spencer (M&S). Tired of too many ads? go ad free now This marks the first time that India's leading IT services company has commented on the incident. As per news agency Reuters, independent director Keki Mistry confirmed at the company's annual shareholder meeting that none of its customers have been impacted. "As no TCS systems or users were compromised, none of our other customers are impacted," Mistry said. He further added that "The purview of the investigation (of customer) does not include TCS." TCS serves as one of M&S's technology service providers and reportedly secured a $1 billion contract in early 2023 to modernise the retailer's legacy technology across its supply chain and omni-channel sales, aiming to boost online sales. Cyber attack on M&S to cost company $400 million M&S disclosed the "highly sophisticated and targeted" cyberattack in April, estimating it would result in a loss of approximately 300 million pounds ($403 million) in operating profit. Disruption to the retailer's online services is expected to continue until July. Financial Times reported last month that TCS was internally investigating whether it served as the gateway for the cyberattack. "In Fashion, Home & Beauty, online sales and trading profit have been heavily impacted by the necessary decision to pause online shopping, however stores have remained resilient," M&S noted in a statement, adding that it anticipates that "online disruption to continue throughout June and into July as we restart, then ramp up operations." Reports suggested that the hackers behind the M&S cyberattack S may have gained access to the systems via third-party routes. DragonForce was reportedly behind the hacking.
Deccan Herald
21 hours ago
- Business
- Deccan Herald
None of our system or user compromised: TCS on M&S cyberattack
Tata Sons and Air India Chairperson N Chandrasekaran skipped Tata Consultancy Services' AGM amid the Air India crisis, stating 'exigencies'. Independent director Keki Mistry resided as the Chair of the meeting in his absence.
