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“Our goal is to lead this transformation for our clients as well as within our own organisation,” he added.
Rishad Premji, chairman, Wipro, called out artificial intelligence (AI) for creating new opportunities for growth. He also stated that widespread AI adoption requires strong change management. He reiterated that human interactions need to be the core of AI development.
“Our change management approach focuses on placing human interactions at the core of AI development. This human-centred approach will help us bridge the gap, build trust, and maximise AI’s potential,” Premji said at Wipro’s 78th Annual General Meeting held virtually.
He also added that this is required as AI and Generative AI (GenAI) become all-pervasive. “As you all know, there’s been a significant shift in how businesses perceive AI, especially Generative AI. What was once a topic of curiosity has now become a cornerstone of long-term strategies for creating value,” said Premji.
He also added that AI presents a distinct opportunity to reshape industries, reimagine experiences, enhance efficiencies, and foster innovation.
“Our goal is to lead this transformation for our clients as well as within our own organisation,” he added.
While Wipro is making investments to bolster its presence in AI tools and offerings, the company is also experimenting and deploying AI and GenAI within its operations.
“We have been intentional in serving as client zero for our own AI solutions, disrupting ourselves in the process. We have leveraged our talent to build GenAI-based solutions that streamline our internal processes, create delightful experiences, and boost productivity throughout our organisation. For example, WiNow, our AI-powered enterprise chatbot for self-service, is used by nearly all our employees and has processed around 6.5 million queries,” said Premji.
Last year, the company announced investments in its ai360 strategy. As a part of that, the company has trained over 225,000 employees in GenAI fundamentals. An additional 30,000 employees have received advanced training tailored to their specific roles. Premji said that he too has been trained in GenAI fundamentals.
In addition, the firm has broadened its strategic partnerships with leading AI players such as Microsoft, Google, Amazon, and NVIDIA. Additionally, it has launched its own AI platform through its innovation arm, Lab45, to speed up AI adoption.
“Our industry and consulting-led AI solutions are driving early results with our clients. We’ve achieved superior patient outcomes in healthcare, boosted the recommendations of financial advisors, and driven cost and operational efficiencies in life sciences and transportation. We’ve had many such successful client engagements and plan to keep doing more,” he added.
Speaking about the company’s performance and the macro environment, he said, “Although discretionary spending was subdued in the first half of the year, we saw promising signs in our consulting business in the second half, which is a positive early indicator.”
He also added that FY24 has been challenging for the company. “The global economic fluctuations this past year have affected our clients’ technology spending and led to uncertainty in market demands. However, despite these challenges, I believe the fundamentals of our business remain unchanged, and we remain fully committed to investing in our future,” Premji said.
First Published: Jul 19 2024 | 10:29 AM IST
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