TCS study reveals that AI is redefining Mexican businesses

By TCS

This is a machine translation of the original press release issued in Spanish.

Mexico City, June 25, 2024 – A recent global study by Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting and business solutions, senior Mexican business executives believe that AI will be more disruptive and impactful for business. 76% mentioned that this technology will have a greater impact than smartphones, while 54% said that it will be equal to or greater than the internet. In fact, 95% of these executives say they have AI projects aimed at increasing revenue and driving innovation, showing the same interest as their global counterparts.

On the other hand, the impact of AI on jobs is an issue that worries many people. However, it can generate new work dynamics. Mexican executives believe that, far from displacing jobs, AI will result in a net gain in affected functions, as 76% of Mexican executives affirm that human creativity or strategic thinking will continue to be their company's competitive advantage. In addition, this technology will serve as a means of support for collaborators, as 76% of respondents plan to use internal talent to apply this technology, and 41% expect up to three-quarters of their employees to use generative AI daily in the coming three years.

The introduction of such powerful technology into organizations comes with great responsibility. Thorough preparation and rigorous governance that foster trust in investment outcomes and values must accompany AI adoption. The Mexican companies surveyed affirm that they are not only aware of the changes involved, but that they are also actively planning for them. In fact, 73% of Mexican companies are redesigning or planning to modify their way of operating in light of the benefits and risks of AI.

“We are convinced that organizations that adopt AI early will be able to deliver exponential value to their customers. This study demonstrates it: Mexican companies are already innovating with this technology. We have seen this with our clients in Mexico, who already operate with generative AI, request cloud migration and modernization services, and use enterprise application services. This is a good sign that they are already moving towards the future. However, organizations have also realized that the path to producing AI solutions is not easy. Building a mature company in AI is a marathon, not a sprint, and to do so they need strategic allies to accompany them on this journey towards success,” said Rajeev Gupta, Country Head, TCS Mexico.

Other key findings from the report include:

• Mexican executives say they need better KPIs to measure the success of their AI implementations, to demonstrate the value of this technology and gain internal traction for its adoption. 41% say they have “good enough” metrics and KPIs for their current stage of AI implementation, one of the highest percentages of all countries surveyed. However, about half say implementation metrics fall short.
• AI has intensified attention to security and privacy concerns, and the ethical dimensions of AI use have also garnered significant attention. The majority of senior executives in Mexico (69%) prefer global regulations in this rapidly changing landscape.
• Many industry leaders are already advocating for regulations around AI, especially in high-impact sectors such as finance and healthcare. The vast majority of Mexican leaders (80%) are in favor of governments regulating AI.
• When it comes to customer relationships, Mexican executives are focusing on AI's ability to help deliver deeply contextual and personalized interactions at critical moments and greater assistance through chatbots.

This survey is part of the TCS AI for Business Global Study, a detailed report on the state of AI adoption. The TCS Thought Leadership Institute surveyed nearly 1,300 CEOs and other senior executives with P&L responsibilities, across 12 industries and 24 countries, including respondents from Mexico, Brazil, Colombia and Chile. About half of the companies had between $1 billion and $5 billion in annual revenue and the other half had more than $5 billion.

For more information about the global study, click here.

 

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been collaborating with many of the world's largest companies in their transformation processes for more than 56 years. Its portfolio of business, technology and engineering services and solutions, based on consulting and knowledge, is offered through its exclusive Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

TCS, part of the Tata group, India's largest multinational business group, has over 601,000 of the world's best-trained consultants across 55 countries. The company generated consolidated revenue of $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and NSE in India. TCS' proactive stance on climate change and award-winning work with communities around the world has seen it featured in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.

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