Welcome to our dedicated page for Wipro news (Ticker: WIT), a resource for investors and traders seeking the latest updates and insights on Wipro stock.
Wipro Limited reports developments as an India-based, AI-powered technology services and consulting company with American depositary receipts traded under WIT. Recurring updates cover IFRS financial results, IT Services segment revenue, bookings, operating margin, dividend and buyback matters, and governance items tied to its listings in India and on the New York Stock Exchange.
Company news also covers enterprise technology modernization engagements and software-delivery partnerships. Wipro’s AI-related offerings include Wipro Intelligence™, WEGA and WINGS, which are used in client programs involving application modernization, automation, agent-native development, cloud operations, customer experience and digital transformation across global enterprise sectors.
Wipro announced a strategic collaboration with Hewlett Packard Enterprise (HPE) to launch an on-premise GenAI solution at Wipro's Cloud Studio in Kodathi. Designed to enhance operational efficiency and customer experience, this platform leverages Wipro's Smart Operations and HPE's Machine Learning Development Environment. Field tests show it reduces Mean Time to Resolution (MTTR) by 50%, decreases incident inflow by 30%, and improves Overall Equipment Effectiveness (OEE). Targeting industries like financial services, healthcare, and manufacturing, it offers flexibility with varied Large Language Models (LLMs). Wipro and HPE aim to push AI innovation boundaries, ensuring clients meet their business goals.
Wipro has launched the Lab45 AI Platform, a SaaS-based tool designed to enhance efficiencies and transform business functions using Generative AI (GenAI), machine learning, and deep learning technologies. The platform supports various large language models and custom deep learning models, offering over 1,000 GenAI agents and more than 10 applications for HR, sales, marketing, and operations. The Lab45 AI Platform enables seamless integration of language and visual processing tasks, such as generating images from text prompts and content summarization. It is available to all Wipro employees and clients, with API-based access for custom applications. Notable benefits include significant time savings in HR tasks, improved sales forecasting, and 20-30% improvements in quality engineering and testing. Harvard Business School has used the platform for teaching advanced GenAI applications.
Wipro, a leading technology services and consulting company, has launched Wipro Cyber X-Ray, an AI-assisted security and risk platform, in partnership with Zscaler. This platform aids CXOs in making optimized security investment decisions and effectively communicating cyber values to senior leadership and the board. By providing an easy-to-navigate executive dashboard, it offers comprehensive visibility into an organization's cyber risk posture, assisting in the activation of cyber initiatives and optimization of security investments. Tony Buffomante, Global Head of Cybersecurity and Risk Services at Wipro, emphasized that the platform helps validate cyber investments and enhance cybersecurity strategies and performance. Karl Soderlund, Senior Vice President at Zscaler, highlighted the platform's ability to offer a unified view of cyber risks, addressing the challenge of communicating cyber value to top management.
Wipro has expanded its retail media capabilities with Wipro VisionEDGE+, in collaboration with Cisco, AT&T, and AWS. This platform aims to enhance customer experiences and drive ad revenue within physical stores. The solution integrates interactive displays, programmatic advertising, and AI-based analytics to create an omnichannel experience. Wipro VisionEDGE+ leverages Cisco’s network solutions, AT&T’s infrastructure, and AWS’s cloud services to deliver seamless, secure connectivity and robust data analytics. The platform promises to transform retail by converting in-store visits into personalized customer journeys.
Wipro (NYSE: WIT), a prominent technology services and consulting firm, has filed its Annual Report on Form 20-F for the fiscal year ending March 31, 2024, with the U.S. SEC on May 22, 2024. The report, prepared according to IFRS standards, is accessible online on Wipro's website. The company will provide physical and email copies to American Depository Shares (ADS) holders upon request, complying with NYSE rules.
Wipro announced the appointment of Sanjeev Jain as Chief Operating Officer, effective immediately. He succeeds Amit Choudhary, who is stepping down. Sanjeev joined Wipro in 2023 and has over 30 years of experience in business operations, Lean Six Sigma, and design thinking.
He has been instrumental in Wipro's AI training and talent management initiatives. As COO, he will oversee Global Business Operations, the CIO, CISO, and Enterprise Risk Management, focusing on client-centric and profitable growth.
Srinivas Pallia, CEO, praised Sanjeev's impact on strategic thinking and execution. Amit Choudhary will remain until May for a smooth transition.
Eightfold AI and Wipro have announced a collaboration aimed at transforming talent management and skills development. Wipro will utilize Eightfold AI's Talent Intelligence Platform™ to create personalized career pathways, facilitate employee upskilling, and enhance internal mobility by matching skills to projects. The initiative is designed to improve talent allocation and retention, consolidating HR capabilities into a globally cohesive offering.
According to Ashutosh Garg, Co-founder and Co-CEO of Eightfold AI, AI is important for proactive talent management. Sanjeev Jain, Global Head of Business Operations at Wipro, added that the collaboration will enhance Wipro's ability to serve clients and support employee career ambitions. The platform will align with Wipro's Responsible AI framework.
Wipro has appointed Vinay Firake as the Chief Executive Officer of APMEA Strategic Market Unit. Vinay, with 26 years of experience at Wipro, will lead the business in Asia Pacific, India, Middle East, and Africa. He replaces Anis Chenchah and will be responsible for driving innovation and expanding capabilities in the region.
Wipro Infrastructure Engineering's Hydraulics Business has signed a definitive agreement to acquire Mailhot Industries, a leading North American hydraulic cylinder manufacturer. The acquisition includes JARP Industries, expanding offerings to various sectors like utilities, mining, defense, and oil & gas. Wipro aims to enhance its global footprint and market position through this strategic move, benefitting from Mailhot's expertise in demanding work environments.
Wipro and Kognitos have collaborated to deploy GenAI-based Business Automation Solutions. Wipro Ventures participated in Kognitos' latest Series A Funding Round. The platform will automate complex business process workflows for Wipro's customers in use cases like order management, contact center, and finance and accounting services.