TCS CFO Asserts Claims Stemming from GenAI to Be Covered

Claims Arising from GenAI Covered, Says TCS CFO Samir Seksaria

Mumbai, India (March 8, 2023) - Leading Indian IT services company Tata Consultancy Services (TCS) has confirmed that claims arising from generative artificial intelligence (GenAI) are covered under its cybersecurity insurance policies.

In an interview with The Economic Times, TCS CFO Samir Seksaria stated, "Our cybersecurity insurance policies cover a range of risks, including those related to the use of AI and ML [machine learning]."

GenAI, also known as large language models (LLMs), has gained widespread attention for its ability to generate human-like text, images, and other creative content. However, concerns have been raised about potential risks associated with the use of GenAI, such as the spread of misinformation, deepfakes, and other malicious activities.

Seksaria emphasized that TCS has taken a proactive approach to address these risks. "We have a strong understanding of the regulatory landscape surrounding AI and GenAI, and we are constantly updating our policies and procedures to mitigate any potential threats," he said.

TCS's cybersecurity insurance coverage for GenAI-related claims is a significant development in the industry. As GenAI adoption increases, companies are seeking ways to manage the associated risks. TCS's insurance coverage provides a level of protection for organizations using GenAI, helping to reduce their financial exposure.

"We believe that GenAI has the potential to transform industries and create new opportunities," said Seksaria. "However, it is important to use this technology responsibly and to have appropriate safeguards in place. Our cybersecurity insurance coverage is one way we are helping our clients to do that."

TCS is a leading provider of cybersecurity services, offering a range of solutions to protect organizations from cyber threats. The company's cybersecurity insurance coverage for GenAI-related claims further demonstrates its commitment to providing comprehensive protection to its clients.

About Tata Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of IT, Business & Technology Services, and Engineering. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development.

Media Contact:

TCS Media Relations

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