EAST BRUNSWICK, N.J. | BENGALURU, India – June 11, 2024: 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.
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