Marks & Spencer Investigates Cyber Breach Incident; TCS Clarifies Its Exclusion from Probe

Tata Consultancy Services (TCS) clarified that Marks & Spencer is probing a cyber breach from earlier this year, and TCS is not part of this investigation. During the company's annual general meeting, independent director Keki Mistry stated that TCS systems were not compromised, and no other clients were affected. The British retailer had to shut its online operations for over three weeks due to the incident, potentially impacting profits by GBP 300 million.

Mistry emphasised that TCS's systems and users remained secure, ensuring no impact on other clients. He added that TCS adhered to established procedures and continues to support the full recovery of systems and business operations. Reports in May suggested TCS might have been the entry point for the cyberattack on the UK retailer, but Mistry confirmed TCS is not under investigation.

Generative AI and Market Volatility

Generative artificial intelligence (AI) is increasingly performing tasks autonomously, according to Mistry. He highlighted improvements in productivity across areas like coding, testing, marketing, product design, content creation, and customer service. Recent advancements in reasoning capabilities and agentic AI are expected to enhance automation levels further.

Mistry acknowledged global market volatility due to conflicts and economic uncertainties. TCS remains committed to supporting its clients through these challenging times. The company's order book remains strong, with AI investments gaining significant traction among clients.

Focus on Digital Sovereignty and Emerging Technologies

Addressing India's digital sovereignty, Mistry stated that India is a crucial market for TCS. The company is developing indigenous technologies to meet the needs of governments and enterprises directly. Mistry also mentioned that TCS receives about six whistleblower complaints monthly, each taken seriously.

Mistry noted that data privacy mandates are not impacting the company. Additionally, TCS is making strategic investments in quantum computing technology. These efforts reflect the company's commitment to staying at the forefront of technological advancements while addressing client needs effectively.

With inputs from PTI