TCS reports $1.5bn in annual AI income months after 12,000 layoffs

Tata Consultancy Services (TCS) CEO K Krithivasan said that the IT services firm has generated $1.5 billion in annual AI revenue, accounting for roughly 5% of the company's revenues. TCS has executed more than 5,000 AI engagements so far, with 54 of the top 60 clients using TCS for AI. Earlier in July, TCS announced roughly over 12,000 job cuts.