Co-Creation Center on Cornell Tech Campus Unifies the Best of TCS’ Global Research, Innovation and Business Transformation Services
NEW YORK | MUMBAI, June 28, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has launched TCS Pace Port™ New York, a new co-innovation and advanced research center designed to help customers successfully navigate their Business 4.0™ transformation journeys.
The creative hub, located in the Tata Innovation Center on the Cornell Tech campus, is a catalyst for multidisciplinary collaboration between TCS, its customers, Cornell Tech students and faculty, and local startups, for rapid prototyping, research and commercializing of cutting-edge technologies. Leveraging TCS’ extensive domain expertise across industries and customer-specific contextual knowledge, TCS Pace Port NY will enable greater business model agility, speed, creativity, impact, and scalability, thereby setting the pace of innovation and establishing customers’ competitive differentiation.
“In the Business 4.0 era, companies need to continuously push the boundaries of possibilities to meet rapidly evolving customer needs and gain a competitive advantage,” said Surya Kant, President, North America, UK and Europe, TCS. “TCS Pace Port New York is a collaborative hub that helps forward-thinking enterprises become more agile, intelligent and automated, and unlock unprecedented waves of innovation.”
TCS Pace Port NY will guide customers through the discovery, definition, refinement and delivery phases of innovation with its:
• Innovation Showcase: presentation and engagement facility that helps customers visualize the phases of their digital transformation journey.
• TCS COIN™ Accelerator: collaborative space for TCS associates, customer teams and promising startups to co-create solutions.
• Agile Workspace: fully equipped, agile working environment to run business solution concepts, with devoted virtual environments engineered to emulate real-world conditions.
• Academic Research Lab: allows researchers to gain exposure to the thinking and collaborative research environment enabled by TCS, while furthering the research agenda across cutting-edge tech areas such as artificial intelligence (AI), blockchain, advanced analytics, cyber security, and quantum computing.
TCS Pace Port NY’s offerings are available to all TCS customers in the US, representing more than one third of Fortune 500 brands. TCS has already received substantial interest from customers in the Retail, Travel & Hospitality and Life Sciences industries to utilize TCS Pace Port NY for their business transformation journeys. Notably, TCS’ retail customers are looking to adopt algorithmic business models by employing AlgoRetail™, TCS’ proprietary framework that helps extract actionable insights from heterogeneous data by leveraging advanced technologies, including AI, machine learning and Internet of Things.
“TCS Pace Port New York provides a gateway for our customers to embrace a multidisciplinary collaborative ecosystem to drive innovation, stimulate growth and deliver exponential value,” said Pratik Pal, Global Head, Retail, Consumer Goods, Travel, Transportation and Hospitality, TCS. “We are excited to have such a strong reception from leading retailers and we look forward to helping them leverage advanced digital technologies to realize the benefits of becoming algorithmic businesses.”
TCS Pace Port NY is the second global co-innovation center launched by TCS, following the inauguration of TCS Pace Port Tokyo in late 2018. With several other TCS Pace Ports planned in the next two years, the global network will continue to build upon the company’s comprehensive portfolio that makes TCS an ideal innovation, growth and business transformation partner.
Rajesh Gopinathan, CEO and Managing Director of TCS, N. Ganapathy Subramaniam, COO & Executive Director of TCS, Robert Harrison, Chairman of the Cornell University Board of Trustees, and Greg Morrisett, incoming Jack and Rilla Neafsey Dean and Vice Provost of Cornell Tech, were among the distinguished speakers and guests who joined Surya Kant and Pratik Pal at the launch and ribbon cutting ceremony of TCS Pace Port NY during the evening of June 27, 2019.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 424,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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