Wipro shares in focus after Nvidia tie-up on AI-driven healthcare solutions

Shares of Wipro Ltd will be in focus on Wednesday morning after the IT major announced a collaboration with NVIDIA to help healthcare firms accelerate adoption of generative artificial intelligence (gen AI) through AI-driven strategies, products and services.

In a filing to stock exchanges, Nagendra Bandaru, President and Managing Partner at Wipro Enterprise Futuring said the collaboration would allow the IT firm deliver AI-enabled innovation for the healthcare industry at scale and drive healthcare solutions with advanced computing capabilities.

Wipro shares are up 1.8 per cent in 2023 so far compared with a 7.79 per cent rise in the BSE IT index during the same period. The stock has underperformed the IT pack amid muted set of quarterly results. In the September quarter, Wipro reported strong order inflows for the fourth consecutive quarter but offered a tepid guidance of minus 3.5 per cent to minus 1.5 per cent QoQ CC growth for Q3FY24.

On NVIDIA collaboration, Wipro said it would leverage NVIDIA AI Enterprise software for the production of AI across its current portfolio of healthcare solutions in Affordable Care Act (ACA), Medicare, and Medicaid to improve member experience, increase enrolment, and help support claims adjudication.

"As a result, healthcare organisations will be able to achieve faster, and easier consumption of large language models (LLMs) powered by NVIDIA AI Enterprise, leading to increased productivity, deeper

member intelligence, and better operational efficiencies and paving the way for the next wave of healthcare solutions," Wipro said.

"We are looking forward to building healthcare specific solutions for a new era of AI-led innovation and business transformation.”

The collaboration, Wipro said, will leverage the NVIDIA AI platform for generative, speech, and translation AI, including NVIDIA AI Foundation Models for building and customising generative AI models for any application in the NVIDIA AI Enterprise software, such as NVIDIA NeMo and Riva, and the NVIDIA DGX platform.

"The integration of these technologies with Wipro’s Enterprise Generative AI (WeGA) framework will enable Wipro to co-develop and deploy custom models for speech and translation AI, as well as other LLMs. Wipro has already developed multiple AI-first enterprise offerings across the healthcare industry leveraging the NVIDIA AI platform," Wipro said.

These, it said include an industry-leading billing and enrolment solution in the Medicare and ACA market segment, provider and member services leveraging gen AI capabilities, and specific offerings to improve claims processing and provider data accuracy.

Wipro plans to continue building NVIDIA-powered solutions that will help automate the software development lifecycle and accelerate digital and business transformation.

“Companies are eager to integrate multilingual, voice-enabled generative AI into business applications that are powered by the highest-performing, most energy-efficient solutions available,” said Manuvir Das, Vice President of Enterprise Computing at NVIDIA.

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