Keki Mistry also addressed concerns about AI and said it would unlock new efficiency opportunities, leading to the automation of some tasks.
During the IT company’s AGM meeting, Keki Mistry, independent director of TCS, said that sustained high inflation will affect wage bills and general living costs, as well as the general cost of doing business.
Addressing stakeholder questions, Mistry said, “As far as the impact of sustained high inflation is concerned, wage bills, general living and business costs are clearly affected. However, in this regard, through many productivity and operational excellence and various benefits, we can mitigate the impact on our business.”
AI to automate several tasks
In response to questions about whether AI will lead to unemployment, Mistry said recent advances in AI, such as reasoning ability and agent AI, are expected to lead to a higher level of automation. “These are the early days of this promising technology. We predict a scenario in which this new form of AI can autonomously perform some tasks that humans do today. This leads to a new human + AI operational model. TCS.
TC not under Mark and Spencer’s probe
Regarding the cyberattacks facing Marks and Spencer, TCS said it is not within the scope of relevant investigations.
“This case is currently under review and investigation by customers. No other customers will be affected as the TCS system or users have not been compromised. TCS is following layout procedures. TCS is not included in the scope of the investigation.
Mistry also raised questions about the impact of GCCS, saying that the company’s clients continue to see great value in their partnership with TCS.
Chairman absent from AGM
Tata Sons Chairman N Chandrasekaran remained absent from TCS AGM after missing another AGM for Tata’s consumer products earlier this week. Addressing stakeholders, Mistry said this was a very difficult time for the Tata Group, and perhaps referring to the Air India incident “with those affected by these challenging times.”
Released on June 19, 2025
