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Wipro announces $1 billion investment into AI

1y ago
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Wipro Limited Company Logo

Wipro Limited is the latest multinational to eye growth opportunities via the increasingly dominant artificial intelligence (AI) space.

On July 12, the India-based information technology services provider announced a multi-year plan that will see it invest up to $1 billion into AI. The billion-dollar three-year investment will seek to harness growth opportunities across AI, data, and analytics, the company said in a press release on Wednesday.

Also to be included in the investment effort are initiatives aimed at R&D, enhancing of its FullStride Cloud, and creation of new consulting capabilities to boost client adaptation to the changing world of AI.

Wipro ai360

Alongside the $1 billion investment, Wipro launched an AI-first innovation ecosystem dubbed Wipro ai360. According to the company, Wipro ai360 will be key to plans to integrate AI across every solution, platform, and tool available to clients.

Wipro ai360 and the new investment could see the IT behemoth unleash fresh value and productivity. These will be possible with the application of AI tools, the firm noted in the press release.

Commenting on the investment, Wipro CEO Thierry Delaporte said:

“Artificial Intelligence is a fast-moving field. 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!”

The company plans to train all of its 250,000 workforce on AI, with this expected to occur over the next 12 months.

Wipro’s bet comes amid broader adoption across the globe, with major tech players doubling down on the AI play following the release of ChatGPT. The AI chatbot by OpenAI, a startup backed by Microsoft, has led to a gold rush of sorts in the sector, with Google among the global tech giants to eye a slice of the growing market.

The post Wipro announces $1 billion investment into AI appeared first on Invezz.

1y ago
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