The SaaS-based platform accelerates adoption of
GenAI, boosts efficiency and productivity across all business
functions
Wipro (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology
services and consulting company, today announced the launch of the
Lab45 Artificial Intelligence (AI) Platform, which leverages
Generative AI (GenAI) machine learning (ML), and deep learning
technologies to enable companies to realize enhanced efficiencies,
transform business functions, and enable industry-specific
solutions. Lab45 is Wipro’s Innovation Lab and the Lab45 AI
platform is available to all Wipro employees and clients.
The Lab45 AI Platform runs on a SaaS (Software-as-a-Service)
model and supports various state-of-the-art Large Language Models
(LLM’s) from leading providers as well as custom deep-learning and
other models. The platform allows for seamless integration of
language and visual processing for generating images from text
prompts, as well as the ability to index, parse, and summarize
content.
With over 1,000 GenAI agents and more than 10 GenAI
applications, the platform offers no code and low code pre-built
applications for HR, sales, marketing, and operations functions,
while also allowing for the easy creation of industry specific
GenAI agents and applications.
“Our Lab45 AI Platform is a testament to Wipro's commitment to
innovation and productivity,” said Subha Tatavarti, Chief
Technology Officer, Wipro Limited. “We are excited about the
transformative impact this platform will have across the business,
particularly in HR, sales, marketing, and other business functions.
Our platform will help our customers innovate faster while
balancing privacy and responsible AI.”
With API-based access for custom applications, the platform
makes it easier for clients to deploy GenAI to their environments.
In fact, Topcoder, a Wipro platform connecting customers to its
2-million-member global talent network, has been using Lab45 AI
Platform’s APIs (application programming interfaces) since October
2023, resulting in a seven-fold increase in GenAI usage.
Further, over the past six months, select Wipro teams and
external users have been using the platform and realizing
significant time savings and productivity gains.
For example, in human resources (HR), the platform has reduced
the time it takes to read and interpret specific clauses from large
voluminous contracts to minutes from hours, enabling significant
improvement in turnaround time and accuracy in the background
verification process. In sales, the platform has enabled better and
faster sales and revenue generation, forecasting, sales analysis,
and report generation via a combination of well-known LLM’s (Large
Language Models) combined with custom deep learning models from
Lab45. In marketing, the platform has been instrumental in website
analysis and lead generation, saving teams considerable time and
effort. In quality engineering and testing, recent proof of
concepts (POCs) for Wipro customers in banking, pharmaceutical,
telecommunication and other industries globally have shown anywhere
from 20 to 30 percent improvements across test case, test script,
and test result analytics.
Commenting on the benefits of the platform, Shikhar Ghosh,
Professor at Harvard Business School (HBS), which was an early
user of the platform for their MBA (Master of Business
Administration) curriculum, said, “We have used the Lab45 AI
Platform to teach HBS MBA students about advanced applications of
GenAI for Business and Society. We are exploring several other
advanced use cases as well.”
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
technology services and consulting company focused on building
innovative solutions that address clients’ most complex digital
transformation needs. Leveraging our holistic portfolio of
capabilities in consulting, design, engineering, and operations, we
help clients realize their boldest ambitions and build
future-ready, sustainable businesses. With over 230,000 employees
and business partners across 65 countries, we deliver on the
promise of helping our customers, colleagues, and communities
thrive in an ever-changing world. For additional information, visit
us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
and its plans, expectations and intentions. Wipro cautions readers
that the forward-looking statements contained herein are subject to
risks and uncertainties that could cause actual results to differ
materially from the results anticipated by such statements. Such
risks and uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry.
Additional risks that could affect our future operating results
are more fully described in our filings with the United States
Securities and Exchange Commission, including, but not limited to,
Annual Reports on Form 20-F. These filings are available at
www.sec.gov. We may, from time to time, make additional written and
oral forward-looking statements, including statements contained in
the company’s filings with the Securities and Exchange Commission
and our reports to shareholders. We do not undertake to update any
forward-looking statement that may be made from time to time by us
or on our behalf.
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