Keeping with the tradition, Tata Sons chairman
N Chandrasekaran
sent a ‘New Year message’ to
Tata Group
employees. In his year-end letter to employees, Chandrasekaran cautioned employees about the anticipated volatility and disruption in 2024, driven by data privacy regulations and evolving global landscape with 40 nations heading to polls during the year.
Appoint AI champions
"The next decade will belong to companies who excel in giving customers excellent experiences. With our growing footprint in consumer businesses, we have to bring empathy to every interaction—be that in Air India, Tata Motors or Titan. Brand Tata must be recognisable across all companies. And our group’s aim should not be merely to adopt, or adapt to, technology. We need to shape it, and make it. This New Year, I urge each company to appoint an AI champion to proactively pursue the benefits of AI—economically, operationally and socially," he said.
"The world faced an array of destabilising trends, from escalating geopolitical tensions to the mass adoption of generative AI to the ever-accelerating push toward sustainability. Some of these trends have been welcome; others much less so. But all of them have made the rules and processes governing our world trickier to navigate—and all of them have added to the pressure to adapt," he said.
"I am thrilled that in this difficult global context, our Group performed admirably in 2023. Our transformation—following the principles of Simplification, Synergy, Scale, Sustainability, Supply Chain and AI—has progressed well across our companies. There are too many successes to list here. We also celebrated Tata Technologies’ historic IPO, and the announcement of new gigafactories—exciting moves that I am confident will bring resilient growth for decades to come," he added.
India’s future is bright
As part of the group's commitment to tackling India’s unique challenges, it launched the Tata Transformation Prize, an award celebrating path breaking research and development. "The first entries have already vindicated my faith in India’s exceptional science and research community. I am certain that with the right support, transformational breakthroughs will come across multiple fields,”' Chandrasekaran said.
Need to introduce right rules for AI
While the near-term global outlook feels shadowed with uncertainty, India’s future is bright, he said. "In 2023, we fared better than most. Our economy is thriving, with GDP on track to double to USD 7 trillion over the next five years. And I am certain that India is poised to benefit from the shifts transforming the world. Generative AI, for example, is a potential antidote to our access and inequality problems—provided we are careful and introduce the right rules" he said..
English (US) ·