Tata Consultancy Services Ink

TCS, the country’s largest IT services company, on Wednesday announced that it has won a multi-year deal with Swedish bearing maker SKF.

Financial details were not shared, but people with knowledge described it as a multi-year, multimillion-dollar partnership.

The deal, which comes at a time when concerns are being raised about the story of the IT sector following the advent of AI, involves the modernization of SKF’s existing IT landscape.

TCS will enable SKF to create a future-ready digital enterprise by leveraging AI to reimagine the industrial manufacturing business, it said in a statement.

The Indian IT major will provide end-to-end managed services across applications, infrastructure, data, end-user services, security and connectivity for SKF worldwide.

“Together, we are applying data-driven intelligence and AI to build an agile enterprise that can adapt to technological and market change while supporting long-term sustainable growth and competitiveness,” said K Krithivasan, chief executive and managing director of TCS.

SKF Chief Executive Rickard Gustafsson said the next decade of industrial manufacturing will be defined by how deeply companies integrate AI into their design, production and service.

TCS shares were trading 0.22 per cent lower at ₹2,271.75 on the BSE, compared with a 0.13 per cent rise on the benchmark.