Key IT Services Tata Consultancy Services (TCS) has soared on the metaverse bandwagon by creating experiences in a variety of verticals, including online commerce and workplace experiences, among others. Calling the set of products and services on its metaversion, ‘themaTiCS’, TCS has introduced nine horizons under three main themes – Time and Space (TAS), Culture (CUL) and Technology (TEC). On its website, the company says it’s “The Future of Work”, and goes on to add, “Whether the office moves to your dining table or the metaverse is a question that won’t be resolved.”
On the theme, the company said that “the shock and severity of the epidemic brought three themes to the top of everyone’s priority pyramid”.
These products and services are intended to enhance the remote workplace experience. Given that TCS has implemented Vision 25:25-by 2025, only 25 percent of TCS’s workforce will work outside of TCS facilities at any given time, with affiliates spending only 25 percent of their time in the office-this set of metaverse-based applications makes sense.
The company has begun working on a “virtual bank” for retail transactions and the non -usable token (NFT) marketplace using its own blockchain system.
The company’s metaverse journey will be aided by its subsidiary Avapresence, which bridges the gap between the physical and digital worlds. TCS IP technology supports the platform, which combines cloud, blockchain, AI and IoT capabilities. It uses key XR (advanced reality) elements that enable the design and operation of various Avapresence components.
To grow its business in the metaverse, TCS focuses on the consumer retail/packaging, education and real estate sectors. This will be the main driver of the metaverse.
To enhance a company’s collective capacity in the metaverse, it trains internal employees for various levels of expertise.
In addition to TCS, other IT majors such as Infosys, and Tech Mahindra are also working on various technologies to tap the metaverse market. According to global investment bank Goldman Sachs, the metaverse is estimated to provide $ 8 trillion in opportunities and help IT companies expand their offerings to deep technologies such as artificial intelligence, data analytics and augmented/virtual reality.