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<ul><li>Tech brands have fared badly in 2023 due to global headwinds, recession threats and more.</li><li>Banking and financial services companies including fintechs saw their value swell during the year.</li><li>PhonePe and Cred were the new entrants into Kantar’s list of Top 75 Indian brands.</li><li>Auto companies made a comeback from Covid-lows with TVS and Mahindra being among the fastest risers. </li></ul>It is not just the share prices of technology services companies that are falling, even their brand value has taken a beating. India’s top brands have borne the brunt of the global economic downturn in 2023. The combined value of Kantar BrandZ’s top-75 Indian brands shed 4% of their value to $379 billion in 2023. Yet, they have fared better than their global counterparts, as its global list has shed 20% of its value. Most of this loss in brand value was seen in Indian tech brands whose value shrunk by 14%. The brands have a major presence in international markets, and have been impacted by global pressures, recession threats and geopolitical instability, says Kantar. “If you exclude tech, the combined brand value is quite stable,” said Soumya Mohanty, managing director and chief client officer, South Asia, Insights Division of Kantar. TCS on the top, as usual The spot of India’s most valuable brand, however, is retained by tech giant TCS. It has shed 6% of its value but has fared better than tech as a sector. “TCS has a strong corporate reputation which makes it more likely to retain clients and business. It can also help enable customer retention which is also a factor that adds to brand value,” Deepender Rana, executive managing director of South Asia Insights Division at Kantar told Business Insider India. Infosys’ brand value dropped by 17%, while HCL Tech’s brand value rose by 3%. Both these brands made it to the top 10. Wipro’s brand value dropped by a sharp 42%. The rest of the list is dominated by banks, telecom companies with only one consumer company, Asian Paints in the top 10. Kantar BrandZ Top 10 Most Valuable Indian Brands 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand Value 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$42.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$33.6 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.1 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$22.5 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.8 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11.7 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.3 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$9.3 bn </td></tr></tbody></table> Source: Kantar Autos zoom ahead Auto brands have been buzzing in 2023 and the sector has provided two of the fastest risers of the year. TVS, valued at $1.9 billion, occupies the 51st rank. The company has gained 59% in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra is valued at $2.01 billion and occupies the 47th rank. Mahindra, which grew its value by 48%, made itself incredibly meaningful in consumers’ eyes, and also significantly boosted its salience. The sector saw the second highest category growth of 19%, after tobacco. Royal Enfield’s value also swelled, thanks to Indians’ preference for premium products. A lot of Indian auto brands, like Tata Motors, also entered EV markets and are able to meet consumer needs better, observes Rana. “Auto companies’ value declined during Covid and made a comeback after they dealt with supply chain issues and dealt with bottlenecks,” said Mohanty. India’s largest auto company Maruti Suzuki, however, shed 5% of its brand value, while Bajaj Auto’s brand value went up by 9%. The value in finance Financial services brands have grown their brand value by 6% with 16 brands and contributing to the biggest chunk of the total brand value. Their growth is attributed to growth in digital banking and Axis Bank whose value swelled 28% and now ranks at 17. ICICI Bank which ranks at no 6 also has seen its brand value swell by 18%. Two of this year’s new entrants also belong to the fintech sector — PhonePe and Cred. This is in spite of the fact that tech as a sector saw its value go down during the year. PhonePe has made its debut on the list at No.21 with a value of $4.4 billion. It has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points, said Kantar. Meanwhile, Cred has entered at no 48 with a brand value of $2 billion. “Growth of credit and other digital trends are adding to the value of fintechs. There is a need for these services and brands are doing a good job of providing them,” Mohanty tells Business Insider India. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo and Nykaa have shed value; while Byju’s hasn’t been included in the list this year. FMCG as a sector has seen its brand value remain stable during the year.

TCS retains No 1 spot as India’s top brand but tech sector takes a hit

Tata, LIC, Infosys, SBI, and Mahindra are among the top 10 Indian corporate brands

<ul><li>Tata is the most valued company in India at $19.6 billion according to Brand Finance.</li><li>LIC, Infosys, SBI and Mahindra Group also made it into the top 10 list.</li><li>The only company showing a drop in value among the top is Airtel which depreciated by 28.1% coming down by 2nd position to 7th position.</li></ul>Brand Finance, an independent brand valuation consultancy, took 5,000 companies in India and ranked them according to their brand value. And to no one's surprise, <a href="https://www.businessinsider.in/tata-leads-the-top-corporate-brands-of-india-while-anil-ambani-loses-28-ranks/articleshow/70247395.cms">Tata Group continues to rule the roost with a value of $19.6 billion.</a> A company’s brand value is the net economic benefit that the owner would gain by selling the brand in open market. This year, Indian banks and global IT service providers dominated the list of the top 10 most valued brands in India. Here’s a quick look at the 10 biggest corporate brands in the country:

<ul><li><keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> tops the Brand Finance India 100 Index in 2019 with brand value increasingly by 37% from last year. </li><li>India's biggest banks — State Bank of India (SBI) and HDFC Bank — also made the cut to feature in the top 10. </li><li>Anil Dhirubhai Ambani Group (ADAG) showed the biggest drop, falling 28 positions in the rankings with its brand value falling nearly 65%. </li></ul>The <a href="https://www.businessinsider.in/the-tata-group-has-two-airlines-and-two-more-to-choose-fromair-india-and-jet-airways/articleshow/70129384.cms">Tata Group</a> is India's most valuable brand according to Brand Finance India's top 100 list that's curated from a total of 5,000 companies. The group is one of India's largest with operations all over the world in over 100 countries. Government of India's <a href="https://www.businessinsider.in/lic-officials-under-investigation-by-sfio-for-role-in-ilfs-crisis/articleshow/69263029.cms">Life Insurance Corporation of India (LIC)</a> isn't even a close second with a brand value of $7.22 billion versus Tata's $19.559 billion. Even if you combine LIC's value with <a href="https://www.businessinsider.in/infosys-new-blockchain-banking-solution-doubles-its-partners-in-a-month/articleshow/64511303.cms">Infosys</a>, which came in third at $6.5 million — it's still less than that of the Tata Group. "Tata Group is to be commended for its ability to scale new heights, as it is not only India's most valuable brand, but has also recorded faster growth than any other top 25 brands, with an impressive 37% increase," states David Haigh, CEO of Brand Finance. <div type="image" title="unnamed" msid="70247447" hostid="261" caption="&amp;lt;p&amp;gt;Top 10 most valuable Indian brands 2019&amp;lt;/p&amp;gt;"></div>

 The newbies <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-speeds-up-its-broadband-plan/articleshow/70139677.cms">Mukesh Ambani</a>'s <a href="https://www.businessinsider.in/mukesh-ambani-s-reliance-retail-will-build-an-app-for-kirana-merchants/articleshow/70222354.cms">Reliance Jio</a> which is the fastest growing telecom company, has not made it into the top 10. But according to the Brand Strength Index (BSI) it's currently India's strongest brand. According to the report's methodology, the brand value is only one part of the story, which is how much the company would be worth in the open market. But, the other facet, is a brand's strength which is based on qualitative rather than quantitative measures to peg companies against their competition. The report explains that while Jio may not be the most valuable, it has a strong foundation in place with its <a href="https://www.businessinsider.in/two-years-on-reliance-jio-continues-to-dominate-indian-telecom-market-beating-global-giants/articleshow/67380627.cms">marketing investment</a>s, familiarity, <a href="https://www.businessinsider.in/heres-how-reliance-jio-is-planning-to-increase-its-user-base-and-it-will-definitely-work/articleshow/53298530.cms">loyalty</a>, staff satisfaction and, more importantly, corporate reputation. This is Jio's first time on Brand Finance's top 100 and its accompanied by five other brands debutantes — <a href="https://www.businessinsider.in/baba-ramdev-looks-to-conquer-the-fashion-world-with-patanjali-clothing/articleshow/63643970.cms">Patanjali</a>, Chennai Petroleum, Indian Overseas Bank, <a href="https://www.businessinsider.in/csd-the-most-profitable-retail-chain-in-india/articleshow/53738799.cms">DMart</a>, and Max Life Insurance. Banking boom This year's top 100 featured a total of 14 Indian banks. India's three largest banks — <a href="https://www.businessinsider.in/sbi-overstated-profits-for-3-years-reveals-rti/articleshow/70145021.cms">the State Bank of India</a> (SBI),<a href="https://www.businessinsider.in/hdfc-hiring-5000-professionals-with-annual-package-of-400000-includes-training-program/articleshow/70083666.cms"> HDFC Bank</a>, and <a href="https://www.businessinsider.in/how-icici-became-indias-biggest-bank-here-are-some-interesting-facts-about-the-bank/articleshow/53653276.cms">ICICI Bank</a> — led brand values in the sector with SBI coming in fourth and HDFC in sixth position. The upskilling at banks to integrate digital services like mobile banking and internet banking has helped banks keep pace with the competition. Heightened brand values are expected in the future as well as more is invested into bringing in new infrastructure, technology and innovative customer tools. Winners and losers The Mahindra Group featured in the top 5 for the very first time with its brand value appreciating by 35% to $5.2 billion. It has been working its way through the Indian market but also building in roads in more mature markets like the US, with its IT and financial services businesses. The Anil Dhirubhai Ambani Group (ADAG), on the other hand, fell by 28 ranks, losing 65% of its brand value. The steep drop in its value is attributed to a<a href="https://www.businessinsider.in/anil-ambani-adag-stocks-this-week-reliance-power-reliance-infrastructure-and-reliance-communications/articleshow/69773095.cms"> continuous erosion</a> in its shareholder value. Even with an illustrious last name, the group doesn't invoke the trust it once used to. See also: <a href="https://www.businessinsider.in/tcs-wipro-and-hcl-are-among-the-worlds-most-valued-it-brands/articleshow/67670849.cms">TCS is now the world’s third most valued IT service brand</a> <a href="https://www.businessinsider.in/these-are-the-top-10-most-valuable-brands-in-the-world/articleshow/69747256.cms">These are the top 10 most valuable brands in the world</a>

The Tata name is worth $19.5 billion — more than the brand value of LIC and Infosys put together

<ul><li>Tata Consultancy Services is among the top three <keyword id="7254770" type="UNKNOWN" weightage="20" keywordseo="Most-valued-IT-service-brand">most valued IT service brand</keyword> in the world. </li><li><keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> witnessed an increase in brand value by 23% to $12.8 billion. </li><li>With the brand value of $26.3 billion, the first position was grabbed by <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword>. </li></ul> 2018 proved to be a remarkable year for one of India’s largest IT services conglomerate Tata Consultancy Services (TCS). After reaching $100 billion in market capitalisation, it is now ranked as the third most-valued IT service brand in the world for 2018-19 according to a report by <a href="http://brandfinance.com/knowledge-centre/reports/brand-finance-global-500-2019/">Brand Finance</a>. TCS witnessed an increase in brand value by 23% to $12.8 billion in that period, said the report. Accenture clinched the top spot by becoming the world’s most valuable IT brand with a brand value of $26.3 billion whereas IBM was ranked second in the global list with $20.4 billion. Apart from TCS, three other IT service companies— <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword>, HCL and Wipro -- were able to enter the top 10 global list of most value IT service brands. TCS also emerged a leader in the Japanese market, thanks to “all-round customer experience” and use of artificial intelligence and robotic automatics in its transformation programmes. Wipro's investments in digital transformation capabilities, niche acquisitions, and a recent brand refresh, have made it the third fastest-growing brand in the IT sector, said the report. See also: <a href="https://www.businessinsider.in/facebook-is-reportedly-bringing-in-local-it-firms-to-moderate-fake-news-in-india/articleshow/67344852.cms">Facebook is reportedly bringing in local IT firms to moderate fake news in India</a> <a href="https://www.businessinsider.in/can-nilekani-the-architect-of-the-worlds-largest-biometric-project-spark-digital-payments-in-india/articleshow/67439834.cms">Can Nilekani, the architect of the world’s largest biometric project, spark digital payments in India?</a> <a href="https://www.businessinsider.in/xiaomi-apple-samsung-will-fight-over-india-as-china-sales-slump/articleshow/67488525.cms">Here's why Apple’s problem that began in China may spill over to India too</a>

TCS is now the world’s third most valued IT service brand

<ul><li><keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> has the capacity to significantly enhance the power of <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> and marketers across the world are opening up to the possibilities AI presents to them in engaging better with consumers, while also improving customer experience.</li><li>Sarin Menoky, Lead - Thought Leadership Marketing, <keyword id="6079860" type="General" weightage="20" keywordseo="infosys-bpm" source="Orion">Infosys BPM</keyword> writes about the opportunities that AI presents for marketers and what the future looks like.</li></ul>Marketing is a sector that has among the most to gain from artificial intelligence (AI). At its core, the purpose of marketing is to understand customer requirements, map them to relevant products and services, and persuade people to buy. AI has the capacity to significantly enhance the power of marketing. A 2018 McKinsey study of over 400 use cases involving advanced AI techniques, found that marketing was the function where AI had the most significant potential. And as per a Salesforce report, from 2018 to 2020, adoption of AI by marketers saw a whopping 186% increase. What can AI do for marketing? AI-driven marketing uses technology to improve customer experience. AI collects large and diverse amounts of data on customer sentiment, transactions, journeys, and everything in between, and uses that to build machine learning and predictive algorithms on customer behaviour. The goal is to develop customer acquisition and retention strategies, and to generate personalized content, recommendations, and communications. AI promises accurate, rapid, adaptive, and human-like decisions that will help save costs, increase revenue, and improve customer satisfaction and experience. Channelizing AI for the marketing spectrum While machines haven’t yet mastered compassion and empathy, AI can still take care of many other things. It can eliminate human errors in digital marketing, streamline and optimize marketing campaigns, and generate data-based reports. For instance, the personalized email marketing that most of us are familiar with, is largely driven by AI. <keyword id="35666" type="General" weightage="20" keywordseo="advertising" source="Orion">Advertising</keyword> has increasingly become more about specific and targeted messages. Digital advertising can be driven by AI. Google Ads is an example. AI is continuing to totally revamp the way businesses advertise. Programmatic advertising uses complex algorithms and big data to deliver the right kind of ads to the right audience. Studies have shown that click-through rates on AI-generated ads is substantially higher than ads written by humans, with the increase in some cases being even over 400%. Of course, AI-powered ads will only be as good as the data provided. Content marketing rules the modern business world, and AI can be quite useful in this area. The success of AI lies in its ability to curate and generate the right content for different audiences. Businesses are using AI to recommend personalized services and products to its customers. Natural language processing (NLP) is an AI technology that can churn data to generate effective and compelling stories. The Associated Press and the Washington Post are well-known users of NLP. Technology can also be effectively used by retailers to customize landing pages and generate tailored product placements. AI-powered chatbots are smart and can generate original responses to communicate with humans. They are commonly used in customer support, lead generation, as also cross-selling and up-selling. Although used by several businesses, many chatbots are still quite rudimentary. A plethora of organizations across the globe are investing significantly in this area. Customer behaviour analysis The internet generates a huge amount of data that can predict customer behaviour, but it’s next to impossible for humans to analyze it all. Here, AI provides the perfect solution. It can provide deep insights into customer preferences. Netflix is a case in point; it uses machine learning algorithms to recommend movies and shows to its users. AI-based dynamic pricing can be used to predict how much a customer is willing to pay for a product or service. Companies even use algorithms to enable modifying prices in real time. Surge pricing in Uber after a major event or related to weather conditions, is an example of this. In digital marketing, image recognition enhances brand experiences. The popular “similar item” option on shopping sites helps customers with potentially pertinent products, while also enhancing the per-user revenue of e-commerce sites. Similar decision support technologies are also used for security profiling. Challenges of AI-driven marketing Incorporating AI into a workflow requires deep understanding and careful integration of machine and human tasks, so that AI enhances people’s skills and does not hamper processes. For example, some chatbots could be ineffective and cause customer dissatisfaction. To avoid potentially costly errors, businesses must be cognizant to not let chatbots have the final word on customer experience. Businesses must develop and acquire the suitable skills required to implement every AI application successfully and impactfully. Ultimately, it’s about trust. Customers on digital platforms are aware of risks such as data leaks; they need high levels of privacy and security. Many are hesitant to use applications that capture and share location information, often without their explicit knowledge. It’s also true that many are willing to share some personal information to enjoy the innovative conveniences offered by virtual assistant technologies like <keyword id="196611" type="General" weightage="20" keywordseo="alexa" source="Orion">Alexa</keyword>. Hence, businesses must ensure transparency while collecting any personal data in exchange for sophisticated AI-powered services. AI initiatives must be duly vetted by businesses from an ethical standpoint, to guarantee security and win customer trust. The future looks riveting It’s true that AI in marketing is attracting a lot of investment, however it’s early days yet in the larger picture. CMOs need to be realistic about the ROI that AI technologies can currently offer. Underneath all the glamour and clamour, the capabilities of AI are still limited to certain marketing activities, not necessarily the entire function. Yes, AI-driven digital marketing capabilities are growing rapidly, but it’s not going to be a quick ride to the finish line. It will take time, patience, and confidence. AI strategies created today, and executed robustly, will pay off in the future. Businesses must be ready to work on building their AI capabilities for the long run, while also addressing any potential challenges. A human-ware approach, that can bring out the best of digital and human capabilities, is ideal. It can help businesses to become inherently sentient, respond with agility, make every interaction hyper-productive and value-adding - behaving like a live enterprise. Interesting times lie ahead, for the confluence of AI and marketing.

Triggering marketing impact through Artificial Intelligence

<ul><li>While the demand for IT services companies remains robust with the evolving digital environment, high attrition rates remain a top concern for IT firms.</li><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> will together hire 1.53 lakh employees in FY22 to hedge against employees leaving.</li><li>Wipro’s attrition rate remains highest at 20.5% followed by Infosys at 20.1% and TCS at 11.9%.</li></ul>While the demand for information technology (IT) services companies remains robust with the evolving digital environment, a huge number of employees leaving these organisations remain a top concern for IT firms. Attrition rate of IT companies has been rising consistently and in-line with growing demand for digital talent. With the earnings results available so far for the September quarter, Wipro has the highest attrition rate, among IT firms, at 20.5% followed by Infosys at 20.1% and <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) at 11.9%. <div type="image" title="attrition chart" height="900" width="1200" msid="87013677" hostid="261"></div> However, a report by human resource solutions firm TeamLease shows that the average attrition rate in the IT industry was at 8.67% in September quarter, far less than what the big IT firms have reported. One of the key concerns of IT employees for leaving an organisation is muted growth in increments followed by poor employee benefits, rewards, digital skilling and so on, shows a ‘compensation benchmarking survey’ by Deloitte India and software firms’ lobby NASSCOM. The average increments for the technology services sector in India dropped from 9.5% in 2019 to 5.2% in 2020, which later increased to 8.8% in 2021 due to higher attrition rate. Average increments are expected to go up to 9% to 11% in 2022, said the report. <div type="image" title="compensation" height="900" width="1200" msid="87013730" hostid="261"></div> IT companies are all set to hire in bulk from campuses as they struggle to retain employees with the increasing demand for digital talent. TCS, which has already hired 43,000 freshers in the first half of FY22, expects to hire another 35,000 in the next six months. This takes up the total count of FY22 to 78,000 new employees. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 hiring </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">78,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” said Milind Lakkad, global head of human resources at TCS, in a press conference post earnings. High attrition rate in some of the largest IT companies in the country is expected to continue for the coming quarters and so is the huge hiring process. “In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to close to 45,000 for the year. Simultaneously, we continue to strengthen employee value propositions including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities,” said Pravin Rao, chief operating officer at Infosys. TCS is one of the biggest employers in the country with 5.28 lakh employees as of September quarter. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total headcount </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.28 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.79 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.21 lakh </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>At 11:12 a.m., on October 14, shares of Wipro were up 7%, Infosys stock was up 2% and TCS stock was down by 0.8%. ALSO WATCH: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/talent-from-large-it-firms-has-been-flowing-towards-indias-tech-startups/videoshow/87014361.cms">Talent from large IT firms has been flowing towards India's tech startups</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/three-unicorns-hundreds-of-crore-in-loss-and-very-little-market-share-whats-the-hype-around-online-car-retailers/articleshow/87012417.cms">Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/infosys-wipro-vodafone-idea-and-other-hot-stocks-in-focus-on-october-14-as-results-season-heats-up/slidelist/87010496.cms">Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up</a>

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Triggering marketing impact through Artificial Intelligence

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