Wipro Launches AI-First Innovation Ecosystem, Plans $1B Investment - Wipro (NYSE:WIT)

Wipro Ltd (NYSE:WIT) disclosed the launch of an AI-first innovation ecosystem, Wipro ai360, and an investment of $1 billion to boost AI capabilities over the next three years.

The company's innovation hub, Lab45, is expected to be vital to the Wipro ai360 ecosystem, offering clients resources, research, and co-innovation aid to drive AI adoption.

With a $1 billion investment, the company aims to accelerate advancement in AI, data, and analytics capabilities and foundation, boost FullStride Cloud, and create new consulting capabilities.

Also, the company plans to drive investments in startups via Wipro Ventures and launch a GenAI Seed Accelerator program to offer startups the needed training to become enterprise-ready.

"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!" said Thierry Delaporte, CEO and Managing Director.

Also Read: Wipro Inks 5-Year Deal With ServiceNow,Targets Building $1B Business

The company plans to train all its 250,000 employees on AI fundamentals and responsible use of AI over the course of the next 12 months.

Price Action: WIT shares closed higher by 0.43% at $4.70 on Tuesday.

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