Shares of Wipro were trading flat in Wednesday's trade even as the company said it would invest $1 billion in artificial intelligence (AI) over the next three years and launched Wipro ai360 that it said would create an end-to-end innovation ecosystem, with responsible AI at the core.
The $1 billion investment will help further advance Wipro’s AI, data and analytics capabilities and foundation, R&D and platforms, enhance FullStride Cloud, and build new consulting capabilities to help clients adapt to change and unlock new value through AI.
Following the development, the stock was trading at Rs 392 on BSE, down 0.10 per cent.
Wipro said it will also accelerate investments in cutting-edge startups through Wipro Ventures. Additionally, the company will launch a GenAI Seed Accelerator program, which will provide select GenAI-focused startups with the training needed to become enterprise-ready.
In achieving these goals, the company will train all 250,000 employees on AI fundamentals and responsible use of AI over the course of the next 12 months and will continue to provide more customized, ongoing training for employees in AI-specialised roles.
As far as Wipro ai360 concerned, it is an AI-first innovation ecosystem, with the goal of integrating AI into its platforms and tools and every solution used internally and offered to clients.
Chief Executive Officer and Managing Director Thierry Delaporte said: “Especially with the emergence of generative AI, we expect a fundamental shift up ahead, for all industries. New business models, new ways of working, and new challenges, too. This is exactly why Wipro’s ai360 ecosystem places responsible AI operations at the heart of all our AI work. It’s meant to empower our talent pool and be ubiquitous across all our operations and processes, as well as our solutioning for clients. We are ready for the AI-driven future!.”
Wipro will be announcing its June quarter results on July 13.
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