Wipro's Share Price Anticipation After Launch of AI Platform Lab45

Anticipation builds around Wipro's shares in the stock market due to the recent introduction of Lab45, their advanced Artificial Intelligence (AI) platform, which was announced on a Tuesday. Despite a slight decrease of 0.2 percent in the last session, closing at Rs 475.95 per unit on the Bombay Stock Exchange (BSE), the upcoming trading day is expected to see a surge in focus on Wipro's stock.

Introducing Lab45 by Wipro

Lab45, Wipro's latest AI platform, seeks to empower businesses by utilizing cutting-edge technologies within GenAI, machine learning (ML), and deep learning. Its primary goal is to help companies achieve higher efficiency levels, transform key business operations, and craft tailored solutions for various industries.

As revealed in a company exchange filing, Lab45 is not just an innovation hub but an accessible AI platform for all Wipro employees and clients. Underpinning the platform is a SaaS (Software-as-a-Service) model, which integrates modern Large Language Models (LLMs) from top providers, bespoke deep learning architectures, and additional models. Lab45 is designed to facilitate seamless interaction between language and visual processing, allowing for the creation of images from text prompts and simplifying the indexing, parsing, and summarizing of content.

Corporate Optimism Around Lab45

Subha Tatavarti, Wipro’s Chief Technology Officer, expressed enthusiasm about Lab45's potential to revolutionize various business domains, including HR, sales, marketing, and other sectors. He highlighted the company's ambition to foster swift innovation while maintaining a commitment to privacy and the ethical use of AI.

Wipro’s Fiscal Performance

The financial results for the March quarter show Wipro's net income at Rs 2830 crore, marking a 5.2% increase from the previous quarter, while its gross revenue remained steady at Rs 22,210 crore.

A Look at Wipro's Stock Trajectory

Reflecting on the past year's performance, Wipro's shares have experienced an approximate 20% growth, showing a close trend to the Nifty IT’s return rate of 21.78%.

Wipro, AI, shares