Tata Consultancy Services - Best Artificial Intelligence/ Machine Learning Solution
Company: Tata Consultancy Services
Entry Submitted By: Boost Awards
Company Description: Tata Consultancy Services is an IT services, consulting and business solutions organisation with over 424k of the world’s best-trained consultants in 46 countries. Our consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions are globally recognised as a benchmark of excellence in software development.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: Artificial Intelligence/ Machine Learning Solution
Nomination Title: TCS TwinX™ - A platform for Risk Free Business Experimentation
If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
TCS TwinX, TCS’ proprietary enterprise digital twin platform was first launched in February 2019
It’s a terrifying thought that some of the biggest business decisions companies make - with potentially millions of dollars at stake - are based overwhelmingly on intuition - up to 75% in fact. Whereas only 5-10% of the decision-making process is backed-up by data-based evidence. (Appendix-1)
So why do companies take this approach when it often leads to poor choices - and thus revenue lost/opportunities missed?
The answer usually relates to their abilities to harness data and make informed decisions. For example, conventional AI models employed by H2O/Microsoft Azure/Google AI adopt a top-down approach to data - taking a known problem and attempting to derive insights from data for the purpose of decision-making.
In contrast, our pioneering product TCS TwinX takes a bottom-up approach (Appendix-2) putting data in the driving seat, with a weighting of up to 65% (Appendix-3). Organisational data augmented by knowledge of historical events (experience) and context (e.g. competitor profiles/industry movements) are used to run risk-free business simulations via a digital twin-based simulator.
This simulator, which combines cutting-edge research on AI with actor model computations, helps customers construct hypotheses, model entities and test business decisions in a virtual A/B testing mode, promoting a culture of experimentation (what-if and if-what analysis).
The result is greater accuracy, consensus and surety in decision-making. For example, when a US telco wished to predict customer conversion and retention rates for a new product, they used TwinX to run a behavioral simulation, while also independently assessing it via their own models. When the accuracy of both were compared in a pilot, the results were compelling:
-TwinX’s simulated campaign conversion rate was 2.1% against an actual result of 2.5%. This was more accurate than the forecast of 5.7% and even A/B testing (3.6%).
-TwinX predicted 17% customer retention while actual levels were 16% - in contrast, A/B testing predicted 85%.
TwinX also combats fraud and drives operational efficiencies - the only solution in the marketplace to tackle both through one platform. Appendix-4 outlines how we helped telco MTN in both areas, delivering a 5: 1 ROI in just 18-months.
GAINING RECOGNITION
To date we’ve:
-Published 20 research papers on TwinX (Appendix-5).
-Demonstrated TwinX at >10 industry forums, including telecom’s global industry association TMForum and Mobile World Congress (MWC).
-Been listed as a leader in Customer Experience Services in Telecom and Media by NelsonHall (https://www.tcs.com/tcs-leader-customer-experience-services-in-telecom-and-media-nelsonhall).
-Ranked #1 for Innovation in HFS’ Technology, Media & Telecom Service Providers Top 10 survey. The 2021 report also noted TwinX’s versatility – with the technology now available to every industry.
-Been recognized as an AI services leader by IDC, which credited TwinX as a key IP-based differentiator for digital twin solutions. (https://www.business-standard.com/article/news-cm/tcs-recognized-as-leader-in-artificial-intelligence-ai-services-121061401532_1.html.)
-Won Best New Product Innovation at Tata’s 2020 InnoVista awards. This internal scheme saw TwinX beat-off competition from Tata Group’s 100+ companies, which collectively submitted 70,000 entries.
WIDENING OUR REMIT
Following TwinX’s initial success tackling fraud and other customer journey deviations, we’ve broadened its remit to cover customer value management/products/processes/resources/external factors; Appendix-6.
DELIVERING EXCEPTIONAL CSAT
Customer satisfaction with TwinX is 98% - exceeding the company average of 96%. A third of TwinX customers have also expanded the remit of TwinX, including MTN:
TCS TwinX has changed the game for us in customer experience…we have seen the opportunity for many more use-cases in other areas…I am confident to expand…and get more benefits. - Natasha Abed, MTN, Chief of Customer Experience and Operations.
ENHANCING OUR COMPETITIVE EDGE
TwinX was a world first - allowing us to successfully implement enterprise digital twin technology to predict customer journey deviation for a telco - something which had never been done before.
Competitors like AnyLogic/SoftwareAG/Accenture/IBM have since invested in the field. However, we maintain TwinX’s edge by continuously innovating and adding new digital twin capabilities across industries and business functions. (Appendix-7.)
GENERATING EXPONENTIAL GROWTH
Since launching, TwinX has generated $15M USD globally ($10M in FY2020-21). This revenue is the result of global customer engagements – including clients from Europe/America/Africa/Asia. Our target for FY2021-22 is $20M - double the revenue - yet with a healthy sales pipeline of $36M, TwinX is already positioned to comfortably surpass this.
Please refer to our PDF supporting document with itemized appendices for further information on the nomination, as well as viewing the following customer video testimonial: https://onedrive.live.com/?authkey=%21AHti05iEgyyR5EU&;cid=8883D16F2A27E186&id=8883D16F2A27E186%21680&parId=8883D16F2A27E186%21679&action=locate
Appendix 1: Evidence that business decisions are largely based on intuition.
Appendix 2: A diagrammatic depiction of what makes TCS TwinX different from conventional AI.
Appendix 3: A depiction of conventional business decision making and the change we propose through TwinX.
Appendix 4: A case study showing two use cases for TwinX (customer journey and tackling fraud).
Appendix 5: Examples of white papers published about TwinX.
Appendix 6: Use cases for TwinX.
Appendix 7: Competitor analysis.