Wipro Unveils Lab45 AI Platform to Boost Efficiency and Business Transformation

On June 11, 2024, Wipro announced in an exchange filing the launch of the Lab45 Artificial Intelligence (AI) Platform. This platform utilises Generative AI (GenAI), machine learning (ML), and deep learning technologies to help companies achieve greater efficiency, transform business operations, and develop industry-specific solutions. Lab45, Wipro’s Innovation Lab, has made the Lab45 AI platform accessible to all Wipro employees and clients.

The Lab45 AI Platform runs on a SaaS (Software-as-a-Service) model and supports several state-of-the-art large language models (LLMs) from leading providers, custom deep learning, and other models. The platform facilitates seamless integration of language and visual processing, enabling the generation of images from text prompts and the indexing, parsing, and summarising of content.

The company stated that with more than 1,000 GenAI agents and over 10 GenAI applications, the platform offers no-code and low-code pre-built applications for sales, HR, marketing, and operations functions while also allowing for the easy creation of industry-specific GenAI agents and applications.

The platform offers API-based access for custom applications, simplifying the deployment of GenAI in clients’ environments. Topcoder, a Wipro platform connecting customers to a global network of 2 million members, has utilised the Lab45 AI Platform’s APIs since October 2023, leading to a seven-fold increase in GenAI usage. Additionally, over the past six months, a few selected Wipro teams and external users have reported significant time savings and productivity improvements by using the platform.

For instance, in human resources (HR), the platform has decreased the time required to read and interpret specific clauses from large contracts from hours to minutes. This has significantly improved turnaround time and accuracy in the background verification process.

Commenting on the launch, the Chief Technology Officer of Wipro Limited, Subha Tatavarti, said, “Our Lab45 AI Platform is a testament to Wipro’s commitment to innovation and productivity. 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.”

Speaking of the benefits of the platform, Professor at Harvard Business School (HBS), Shikhar Ghosh, 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.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.