IT giant Wipro plans to invest $1 billion in AI over next three years

Indian IT services provider Wipro Ltd said on Wednesday it planned to invest $1 billion In artificial intelligence (AI) over the next three years.

The investments will focus on the expansion of AI, big data, and analytics solutions, as well as developing new research and development and platforms, it said in an exchange filing.

This comes almost a week after rival Tata Consultancy Services said it planned to train 25,000 engineers to get them certified on Microsoft's Azure Open AI.

Companies across the world, from banks to big tech, have doubled down on investments in AI after ChatGPT, a generative AI chatbot by Microsoft-backed OpenAI took the world by storm in late 2022.

The company also launched Wipro ai360, its AI-first innovation ecosystem and said that it would train all of its about 250,000 employees on AI over the course of the next 12 months.

"Especially with the emergence of generative AI, we expect a fundamental shift up ahead, for all industries," Wipro CEO Thierry Delaporte said.