India's Wipro plans $1B investment in AI
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Indian tech services provider Wipro (NYSE:WIT) plans to spend $1B to advance AI capabilities over the next three years.
The company made the announcement along with the launch of Wipro ai360 â an AI-first innovation ecosystem in which capabilities in cloud and partnerships; data, analytics and AI; design and consulting; cybersecurity; and engineering will be used to develop solutions and embed AI into all processes and practices, according to Wipro.
Wipro noted that it will train all its 250,000 employees on AI fundamentals and responsible use of AI over the next one year.
"Especially with the emergence of generative AI, we expect a fundamental shift up ahead, for all industries," said Wipro's CEO and Managing Director Thierry Delaporte.
The $1B investment will help advance Wipro's AI, data and analytics capabilities, R&D and platforms and boost FullStride Cloud, among other things.
The company added that it will also accelerate investments in startups through Wipro Ventures. In addition, Wipro will launch a GenAI Seed Accelerator program, which will provide certain GenAI-focused startups the training required to be enterprise-ready.
Following the release of Microsoft (MSFT)-backed OpenAI's ChatGPT, several global companies, including Chinese giants Alibaba (BABA) and Baidu (BIDU) have launched their own generative AI services.
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