Technology a golden thread that binds enterprise' work to future world; AI strengthens it: Anand Mahindra

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Tech Mahindra chairman Anand Mahindra (File image)

New Delhi: Technology is a golden thread binding an organisation's work to its future vision, and the power of artificial intelligence (AI) can strengthen this thread, said Tech Mahindra chairman Anand Mahindra.

Penning his thoughts in the annual report 2023-24 of IT services and consultation company Tech Mahindra, the billionaire businessman said it is impossible to talk about any business today without talking about technology.

"Technology is the Golden Thread that binds what an organisation is doing today with the future world it is trying to create. Across multi-business organisations, it enables synergy and creates unexpected business connections. Across industries, it creates collaboration and transformation," he wrote.

Mahindra, 69, said the future belongs to those who can creatively weave this Golden Thread into a value-enhancing business tapestry.

He said IT services will play a pivotal role in enhancing Golden Thread by integrating AI seamlessly into the core business functions.

"From extracting data-driven insights to solving industry-specific problems to revolutionising customer engagement, the synergy between IT and AI will enable a new era of technological prowess...

"...the future undoubtedly belongs to IT services that can increase the value of that Golden Thread from 18 carat to 24 carat with the power of AI," he said.

He said the winners will be companies that are agile, well-prepared and can "Scale at Speed" (a promise that Tech Mahindra has positioned itself on time and again).

"Even without a crystal ball, I can venture to predict that Tech Mahindra, under its new leadership, is well-positioned to leap into this new orbit," Mahindra said, basing his optimism on three factors.

He said tackling changes requires preparation, and both speed and scale.

"Tech Mahindra has made Scale at Speed their promise and war cry. A holistic 3-year roadmap for achieving profitable growth, covering every aspect of the organisation -- be it structure, strategy, technology, client focus, skill development, talent management, performance enhancement -- has been shared with investors. The future landscape is clearly mapped out, and actions are clearly communicated," he said.

He expressed confidence in Tech Mahindra's past record, its preparedness, and the "enormous" experience of the new leadership.

Tech Mahindra MD and CEO Mohit Joshi took charge in December last year, taking the helm from CP Gurnani, who retired after serving the IT major for 19 years.

"During his 19 years with the Company, over 11 of which were as the MD and CEO, MBT (Mahindra British Telecom) morphed into Tech Mahindra; the business vision expanded from the telecom business to a multi-vertical digitally led IT company whose revenue rose 22 times from USD 280 million in 2006 to USD 6.3 billion in 2024," Mahindra said, remembering CP, as he was famously called.

IT services will evolve to become the interface between the potential of AI and its business application, he further said, adding that professionals who can understand, interpret, leverage, and exploit the new powerhouse of AI will be the most in demand.

"Tech Mahindra has an edge few other companies have. It is the child of a multi-business corporation.

"The Mahindra Group itself is their real-time playing field and proving ground to sharpen their skills -- if anyone knows how to find the golden thread, how to embroider it across businesses, and how to weave the future with it, it is Tech Mahindra," Mahindra, also the chairman of Mumbai-based conglomerate Mahindra Group said.

Citing American writer Mark Twain, he said the rumours that the advent of AI will be the death of IT services are grossly exaggerated.

"AI will push these services towards a new frontier, into directions that were hitherto unimaginable -- and Tech Mahindra will be in the vanguard," he said.