Indian tech company Wipro has revealed its plan to establish a specialized section dedicated to artificial intelligence (AI). This new division, named Wipro’s AI-Native Business and Platforms unit, will focus on developing AI solutions tailored for businesses. Wipro, like many other tech firms, experienced a significant stock market decline due to the impact of Anthropic’s Claude Cowork, which triggered what is known as the SaaSpocalypse.
Nagendra Bandaru has been appointed as the CEO of Wipro’s AI unit. With nearly thirty years of experience at Wipro, Bandaru will report directly to Wipro’s CEO and Managing Director Srini Pallia. He previously held the position of President and Managing Partner of Technology Services Global Business Lines (GBL).
Former Accenture executive Kanwar Singh will take over Bandaru’s role in the GBL division.
The primary objective of Wipro’s AI unit is to consolidate Wipro’s various platform assets, including industry-specific platforms like NetOxygen for AI-driven lending, CROAMIS for aviation cargo, and healthcare platforms IHS and HPS. Wipro aims to develop high-quality AI solutions for businesses and establish new AI-focused revenue streams. This unit is expected to collaborate with Wipro Ventures and its network of partners.
Wipro has previously collaborated with Microsoft to utilize GenAI-powered tools through Azure OpenAI. Furthermore, Capco, a subsidiary of Wipro, inked a deal with OpenAI last year. Notably, TCS, another Indian tech firm, confirmed its efforts in creating an AI-native operating system for businesses earlier this year.
The rise of AI technology has sparked concerns within the SaaS industry, with tools like Claude Cowork potentially automating various tasks. Anthropic, founded just five years ago, now boasts a market capitalization of $380 billion, surpassing the combined value of Infosys, Wipro, TCS, and HCL.
In a separate development, Wipro disclosed the resignation of Suzanne Dann, CEO of the Americas-2 Strategic Market Unit. The Americas-2 unit contributes around one-third of Wipro’s revenue and encompasses the Canadian market, along with banking, financial services, and energy sectors in the US. Dann is leaving Wipro to pursue personal opportunities.