TCS Distances Itself from Marks & Spencer Cyber Breach Amid AI Advances
TCS clarified that it is not involved in the investigation of a cyber breach affecting Marks & Spencer. This breach, linked to a third-party vendor error, caused significant losses for the retailer. TCS continues to invest in AI technologies and remains committed to aiding its customers in challenging times.
- Country:
- India
Tata Consultancy Services (TCS) announced on Thursday that it is not part of the investigation into a cyber breach at Marks & Spencer earlier this year. The breach, which was attributed to a human error at a third-party vendor, forced the retailer to close its online operations for over three weeks, costing an estimated GBP 300 million in operating profit.
Speaking at the company's annual general meeting, TCS independent director Keki Mistry assured shareholders that no TCS systems were compromised. Mistry emphasized that the company's responsibilities lie outside the scope of the investigation and reiterated TCS's commitment to supporting Marks & Spencer in recovering its systems and business operations.
In response to questions about generative artificial intelligence (AI), Mistry highlighted the productivity improvements it offers in areas such as coding, testing, and customer service. Amidst global economic uncertainties, TCS remains focused on customer engagement and is making strategic investments in AI and quantum computing to maintain its competitive edge.
(With inputs from agencies.)
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