TCS wins Alconics award for its AI solution designed for the merchandise sector

31 October 2018 Authored by Consultancy.in

Indian IT services giant Tata Consultancy Services (TCS) has been recognised for excellence in the domain of artificial intelligence (AI), having received The Alconics award for the ‘Best Application of Artificial Intelligence in the Enterprise’ for its optimisation-oriented Optumera solution. 

The Alconics is a brand of awards conceptualised specifically to cater to the AI sector, organised by AI business. The awards are bestowed on firms across the globe that have demonstrated excellence in the domain of AI, primarily those that have an international impact.

The awards are judged by experts in the AI domain from around the world, and usually receive entries in excess of 300 on an annual basis. Candidates are IT services firms seeking a platform to demonstrate their advanced AI capabilities and solutions, which they find in Alconics, given the attention received by the ceremony from leading actors in the AI sector.

This year’s Alconics award for the ‘Best Application of Artificial Intelligence in the Enterprise’ has been presented to TCS for its comprehensive Optumera solution. The solution is aimed at businesses operating in the merchandise industry, and offers support and optimisation in a range of functional areas.

TCS wins Alconics award for its AI solution designed for the merchandise sector

For instance, Optumera utilises AI capabilities to predict the pricing regimes of a client’s direct competitors in real time, allowing for the development of a well-informed strategy of its own that consists of optimal pricing levels. The solution also automates planogram compliance.

In the physical realm, Optumera allows for spatial optimisation with respect to development and allocation of storage space. Based on this comprehensive scope of capabilities, the solution was presented an award at a ceremony held in San Francisco in September, which comprised part of the larger AI Summit San Francisco.

Optumera is one of TCS’ flagship products, among the many factors that has positioned it as the 58th most valuable brand in the US. The firm has devoted a large share of its efforts in recent times to the development of its capabilities in the Industry 4.0 domain, which appears to be reaping rewards.

Commenting on receiving the reward, the President of Retail, CPG and TTH at TCS Pratik Pal said, “Optumera™ has been instrumental in helping Fortune 500 companies drive strategic growth and digitally transform their companies into Business 4.0 enabled enterprises. This award from The AIconics is a testimony to our deep contextual knowledge and sustained commitment to building innovative AI solutions that unlock exponential value for our customers.”

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