Tech Mahindra trains 8000 workers in AI to meet the needs of quantum computing, all you must know

Tech Mahindra, the IT firm has trained 8,000 of its workers in artificial intelligence as it is ready to meet the need for generative AI and quantum computing, According to a senior corporate executive on Saturday. Tech Mahindra's global chief people officer and head of marketing, Harshvendra Soin, stated that the company is increasing its focus on the BFSI, healthcare, manufacturing, and retail sectors in countries like the USA.

Company is investing in quantum computing, cybersecurity, and AI

"At Tech Mahindra, we are investing in quantum computing, cybersecurity, and AI as we increase our focus across the BFSI, healthcare, manufacturing, and retail sectors in countries like the USA. To build a talent pool that is resilient and future-proof, we will also keep investing in the learning and development of our personnel. In the quarter ending in June 2023, we trained and upskilled almost 8,000 personnel in generative AI and other AI platforms, Soin stated.

The profit of Mahindra is declining

A steep contraction of the profit margins caused Tech Mahindra's net profit for the June quarter to decline by 38% to Rs 692.5 crore. In the same April through June period the previous year, the Mahindra group company had generated a net profit of Rs 1,131.6 crore.

Revenues for the company fell to Rs 13,159 crore in the reporting quarter from Rs 13,718 crore in the March quarter prior, and year-over-year growth was only 3.5%.

Why Tech Mahindra took this step?

During the earnings call, the company's departing Chief Executive Officer and Managing Director C P Gurnani described the quarter as one of the hardest he had seen in the previous five years and mentioned how the company's core business of Communications, Media, and Entertainment (CME) had experienced a decline that had an impact on the overall numbers.
However, he placed faith in the areas of cybersecurity, quantum computing, and generative AI, which will propel the company's growth while experience management serves as a crucial differentiator.

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