Digitate, a venture of Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), today announced triple-digit annual growth in both customer acquisition and revenue, buoyed by greater adoption of its award-winning cognitive automation product, ignio™.
Launched in 2015 with the objective of leveraging artificial intelligence (AI), machine learning and advanced software engineering to transform enterprise IT services, ignio™ has challenged the status quo in enterprise IT with its unique, innovative design and has delivered spectacular business performance. It has been adopted by large, complex and global enterprises, mostly Fortune 500 and Global 2000 corporations, who are leaders and innovators in their respective industries. ignio™ today is used by enterprises to manage their IT infrastructure, ERP environments (SAP), batch workloads, applications and business processes.
"Rapid breakthroughs in digital technologies - such as artificial intefligence, machine learning and automation - are reshaping businesses and fostering creative disruptions. The revenue and customer growth for ignio™ has been over 100% y-o-y. The success and growth of ignio™ reaffirms TCS' Business 4.0 strategy, helping customers leverage technology to innovate and gain a competitive advantage," said, Rajesh Gopinathan, CEO and MD, Tata Consultancy Services.
Indigenously developed at the TCS Research & Innovation Labs, ignio™ has over 75 patents filed in the AI, machine learning and intelligent automation space. Digitate recently launched an alliances and channel partner program and already has 10+ partners on board.
ignio™ currently manages over 1.5 million technology resources autonomously for 50+ clients. Customers have been delighted by ignio's ability to deliver value within weeks of deployment and this has made Digitate among the best performing software product companies within the first three years.
Ugo Orsi, Vice President, IT Operations, Loblaw Companies Limited, shared: "Loblaw was looking for an AI tool to disrupt its IT Operations. We chose ignio"" for its ready-to-use features and pre-built knowledge of IT and SAP operations. This enabled quick adoption of AI within Loblaw, and laid the foundation for self-healing, machine-managed IT operations. ignio TM is the linchpin of our IT operations transformation program."
"ignio™ pioneered the concept of cognitive automation-by combining the ability to mimic human thinking and decision making, with the ability to perform complex activities autonomously. It achieved this by integrating AI, machine learning and modern software engineering. ignio™ continues to gain traction in the market place, with 7 wins for ignio™ in Q1, and aspires to be one of the fastest software products to achieve $100M in revenue," explained Dr. Harrick Vin, Vice President TCS and Global Head, Digitate.
Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.1974.6 as compared to the previous close of Rs. 1968.1. The total number of shares traded during the day was 94389 in over 4474 trades.
The stock hit an intraday high of Rs. 1978.3 and intraday low of 1963.75. The net turnover during the day was Rs. 185947049.