WIPRO AI PLATFORM
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
Indian IT engineers are a cricket craze in the US
Indian IT professionals from companies like Cognizant, ServiceNow, and Cigniti are actively involved in promoting cricket in the USA during the T20 World Cup matches. The IT industry's role includes owning cricket franchises, sponsoring leagues, and even participating in matches. They are contributing to the growth of cricket in North America, with Indian origin players like Saurabh Netravalkar and Nosthush Kenjige playing for the USA team.
Stocks in news: IndiGo, Go Digit, Castrol India, IOL Chemicals, Wipro
Domestic markets stabilize post-elections. IndiGo stake sold. Go Digit reports profit. Wipro rolls out Lab45 AI Platform. Icra receives demand order. NHPTL approves share transfer. TCS launches IoT lab. IOL Chemicals gets CEP certificate. Castrol MD change. TVS signs contract.
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Wipro launches Lab45 AI platform to compete on GenAI solutions
Wipro launched Lab45 AI platform to enhance business functions and industry-specific solutions for customers and employees. The platform has shown productivity gains of up to 30% across industries, according to Subha Tatavarti, Wipro's chief technology officer.
Stocks in news: Tata Motors, Wipro, RIL, SJVN, NTPC, Canara Bank
Domestic markets witness a major fall as NDA returns with reduced majority. Tata Motors to establish TML Commercial Vehicles Ltd, Ashok Leyland introduces 'Sarathi Suraksha' Policy, RIL faces losses, Wipro introduces Cyber X-Ray, Infosys enhances healthcare in Japan.
Ashish Kacholia-backed smallcap stock jumps 8% after company's Q4 PAT rises 153%
Zaggle Prepaid Ocean Services, a smallcap company supported by ace investor Ashish Kacholia, saw its shares surge by almost 8% to Rs 338 on Friday's trading session on the BSE. This spike followed the announcement of strong fourth-quarter results.
Zaggle Q4 Results: Net profit jumps to Rs 19 crore
SaaS fintech platform Zaggle Prepaid Ocean Services on Thursday said its consolidated net profit more than doubled to Rs 19.15 crore in the March 2024 quarter. The company had reported a net profit of Rs 7.56 crore in the year-ago period, according to a regulatory filing.
Key changes at Wipro; CCI on digital firms’ ‘opaque’ algorithms
IT services company Wipro is undergoing more changes under new CEO Srinivas Pallia. More on this on today’s ETtech Top 5.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
Wipro’s COO Amit Choudhary resigns; Sanjeev Jain appointed as successor
Sanjeev Jain joined Wipro in 2023 as the global head of business operations after his stint at Cognizant, GE, IBM and Kyndryl Holdings (IBM spin-off). He will report to new CEO and MD Srinivas Pallia.
Wipro's Pallia to moderate AI ‘crowdsourcing’ session with staff
In what might also be considered crowdsourcing of ideas, new CEO Srinivas Pallia will moderate a virtual session for staff on June 12 on ways to develop strategies to help clients in artificial intelligence.
Digit IPO coming soon; TCS’ Krithivasan earnings
Bengaluru-based insurtech startup Go Digit General Insurance has announced that its IPO will open on May 15 and close on May 17. This and more in today’s ETtech Top 5.
A month on, Wipro CEO Srinivas Pallia has townhalls, Q&As on checklist
Srinivas Pallia, the new CEO of Wipro, sets ambitious goals to accelerate large deal momentum, strengthen client relationships, focus on industry-specific profits, build AI-ready talent, and simplify the operating model for future growth.
Paytm stock slides after COO exit; India’s first microcontroller chip
Shares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.
Lenskart's $200-million secondary; Wipro’s Delaporte’s golden handshake
Happy Thursday! Singapore investor Temasek and US-based fund Fidelity are preparing for a $200-million funding round in Lenskart along with Fidelity.
India's top 3 IT companies see exit of 64,000 employees in FY23-24
India's IT services industry - a $254 billion powerhouse - has been feeling the heat of global macroeconomic uncertainties and geopolitical flareups as clients turned cautious with IT spends.
Wipro Q4 results; RBI nod for Cred’s payment aggregator biz
IT services major Wipro saw an 8% fall in its consolidated net profit in the March quarter. This and more in today’s ETtech Top 5.
Wipro Q4 Results Preview: Muted show likely once again, all eyes on new CEO’s growth roadmap
Wipro Q4 Results Preview: The company is projected to see its consolidated revenue remain stagnant compared to the previous quarter and decrease by 4.3% year-on-year (YoY) to Rs 22,185 crore, based on the average estimates provided by 10 brokerage firms.
Strategy reset under new Tata Digital boss; subscription play for Ola, Uber autos
Handpicked by Tata Sons chairman N Chandrasekaran from their insurance arm, Tata AIA Life, Naveen Tahiliyani is fostering a collaborative spirit at Tata Digital and encouraging participation from other group companies, officials told ET. Meanwhile, Chandrasekaran is keeping a close eye on his progress.
Delaporte's note to Wipro staff; new CEO at Byju's Aakash
Amid a global generative artificial intelligence disruption, top-rung management professionals are driving demand for AI upskilling courses. This and more in today’s ETtech Top 5.
IT hiring shows signs of life; companies stay cautious
IT sector consultants said that the conversation for FY25 is still heavily focused on more dilution of the bench, increasing automation, improving efficiency and targeted hiring mostly in niche areas such as AI and GenAI amid continued macroeconomic uncertainty and hardly any signals of demand recovery yet.
Cognizant, Nvidia tap generative AI to boost drug discoveries
Cognizant said it aims to give clients access to a suite of model-making services, including pretrained models, cutting-edge frameworks, and APIs, that offers clients the quickest path to train and customize enterprise models using their proprietary data.
Decoding the digital competition law; AI's impact on IT hiring
India’s consumer internet firms have voiced their disapproval of the ex-ante framework in the proposed digital competition law. This and more in today’s ETtech Morning Dispatch.
Wipro launches platform to offer enterprise-level AI services to clients
Wipro expands partnership with IBM to offer new AI services. Introduces Wipro Enterprise AI-Ready Platform leveraging IBM Watsonx for enhanced operations and industry analytic solutions. Provides conversational AI for customer support, marketing, feedback analysis, content generation, and design optimization.
OpenAI spat highlights perils of leaning on a single GenAI tool
The dependence on OpenAI explains why founders hugely invested in businesses dependent on OpenAI’s tech were extremely concerned.
After LLTS, Wipro ties up with Nvidia to power generative AI to healthcare firms
Through an AI Center of Excellence with Nvidia, Wipro engineers will receive large-scale ongoing training on Nvidia’s application frameworks in areas like generative AI, the metaverse, conversational AI, and data analytics to accelerate the development of custom solutions.
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