New Delhi (Business Emerge), September 5: Generative AI is becoming a game-changer for India’s rapidly expanding engineering research and design sector, according to Sreenivasa Chakravarti, Vice President of Internet of Things and Digital Engineering at Tata Consultancy Services (TCS). This technological advancement has significantly accelerated product development cycles, leading to an impressive increase in efficiency for engineering-focused clients.
TCS, known for its collaborations with high-profile clients such as Rolls Royce, Jaguar Land Rover, and Siemens, has observed a 20% boost in the speed of product development for its engineering clients. Chakravarti highlighted that generative AI is now central to this transformation, driving improvements in code generation, testing, and quality assurance. He noted that these areas are currently yielding substantial benefits, though he chose not to specify individual client names.
The engineering, research, and design sector, which provides critical support to hardware-intensive industries like autonomous vehicles and sustainable solutions for the oil and gas sector, now represents a significant portion of India’s $254 billion tech industry. This niche is anticipated to grow by 7.5% in the fiscal year 2024, marking it as the fastest-growing segment. Projections suggest that the sector could expand nearly fourfold between 2023 and 2030, potentially reaching a value of $170 billion.
In addition to major software services firms like TCS, Infosys, and Wipro, specialized players such as Tata Elxsi, Cyient, and L&T Technology Services are also making significant strides in this field.