IT companies turn focus on Generative AI
BENGALURU: IT companies are shifting their focus towards Generative AI as they come together to enhance their services for clients. Wipro recently announced a partnership with Microsoft to introduce a range of cognitive assistants for financial services powered by Generative AI. These cognitive assistants are designed to offer financial professionals with in-depth market intelligence, relevant information on investment products, and insights into investor behavior.
Collaborations in the IT Industry
Additionally, HCLTech has entered into a global strategic collaboration agreement with Amazon Web Services (AWS) to expedite GenAI-led enterprise digital transformation. Through this collaboration, HCLTech and AWS aim to assist enterprises in exploring and implementing Gen AI-led use cases, proofs of concept, tools, and solutions. They are working on developing a framework with target-based milestones aligned with business strategies to facilitate the co-creation of customized Gen AI-led solutions and provide clients with flexible consumption models.
Technological Advancements
Wipro's new cognitive assistants will operate on Microsoft Azure Open AI and will be accessible through Azure App Services. The Wipro AI practice is actively working on more than 10 GenAI ideas currently in the development phase as proof of concepts on Azure Open AI. With 55,000 AI associates globally, Wipro has ensured that over 50% of them are trained and skilled in Azure –AI/ML technologies.
Future Prospects
The CEO of Americas 2 Strategic Market Unit at Wipro, Suzanne Dann, mentioned, "Gen AI opens up a new realm of opportunities for delivering exceptional client experiences and improving productivity within the financial services industry."
