Wipro launches Lab45 AI Platform, stock up 1%

Wipro’s Lab45 runs on a software-as-a-service (SaaS) model and supports various large language models (LLMs) along with custom deep learning and other models. This allows users to generate images from text prompts and the ability to index, parse, and summarise content.

The company said the Lab45 AI platform has over 1,000 GenAI agents and more than 10 GenAI applications. Additionally, the platform has pre-built applications that require little to no coding experience and can be deployed for HR, sales, marketing, and operations functions. The platform also allows for the easy creation of industry-specific GenAI agents and applications.  

The company reported that with API-based access for custom applications, clients can easily deploy GenAI to their environment. Wipro’s talent network platform Topcoder, which has been using Lab45 AI Platform’s APIs, has seen the usage of GenAI rise by seven times since October 2023.

Wipro said its teams and external users have been using the platform and realising significant time savings and productivity gains. For instance, in human resources (HR), the platform has reduced the time it takes to read and interpret specific clauses from large voluminous contracts to minutes from hours, it said.

The sales department was able to make use of LLMs and deep learning models to forecast sales and revenue generation while the marketing department was able to save time and increase efficiency as well.

Subha Tatavarti, chief technology officer of Wipro said the launch of Lab45 will help their customers innovate faster while adhering to regulations and maintaining privacy. “We are excited about the transformative impact this platform will have across the business, particularly in HR, sales, marketing, and other business functions,” Tatavarti said.

Shares of the company have gained 0.6% since the beginning of the year. The stock has gained over 21% in the last one year.