Indian IT services company Wipro Ltd. announced its intention to allocate a significant investment of $1 billion towards the advancement of artificial intelligence (AI) within the next three years.
According to a statement filed with the exchange, the investment strategy will prioritize the growth of big data, analytics and AI solutions. Additionally, there will be a focus on creating innovative research and development initiatives and platforms.
This announcement comes just days after Tata Consultancy Services, a competitor, revealed its intention to train a significant number of engineers (25,000) and obtain certifications in Microsoft’s Azure Open AI platform.
Businesses worldwide, from banking to technology giants, have significantly increased their investments in Artificial Intelligence (AI) following the remarkable success of ChatGPT. Developed by OpenAI, with support from Microsoft, this generative AI chatbot captured global attention in late 2022.
Alongside the successful launch of Wipro ai360, an innovation ecosystem powered by AI, Wipro has also revealed its commitment to equip its extensive workforce of approximately 250,000 employees with comprehensive AI training within the coming year.
Wipro’s CEO, Thierry Delaporte, believes that the rise of generative AI will bring about a significant transformation across various industries in the near future.