Wipro, a prominent Indian SaaS company, has unveiled plans to establish a specialized division dedicated to artificial intelligence (AI). The newly formed AI-Native Business and Platforms unit at Wipro will focus on developing advanced AI solutions tailored for enterprises. Following the SaaSpocalypse triggered by Anthropic’s Claude Cowork, Wipro, like many other SaaS firms, experienced significant stock market challenges.
Nagendra Bandaru, who brings nearly thirty years of experience at Wipro, has been named the CEO of the AI division. In his new position, Bandaru will directly report to Wipro’s CEO and Managing Director, Srini Pallia. Specifically, Bandaru previously held the role of President and Managing Partner for the Technology Services Global Business Lines (GBL) at Wipro.
Meanwhile, Kanwar Singh, a former executive at Accenture, has assumed the position vacated by Bandaru within the GBL segment.
Wipro’s AI unit is set to consolidate the company’s platform assets, incorporating specialized platforms like NetOxygen for AI-driven lending, CROAMIS for aviation cargo, and healthcare platforms IHS and HPS. The primary objective is to develop high-quality AI solutions for businesses and establish new AI-driven revenue streams. Collaboration with Wipro Ventures and its partner network is expected to play a crucial role in achieving these goals.
It is worth noting that Wipro has previously collaborated with Microsoft to leverage GenAI-powered tools through Azure OpenAI. Additionally, Capco, a subsidiary of Wipro, sealed a deal with OpenAI last year.
Wipro is not alone in its pursuit of AI solutions among Indian SaaS companies. TCS recently confirmed its development of an AI-native operating system tailored for business applications.
The rise of AI technology has sparked concerns within the SaaS sector, as tools like Claude Cowork have the potential to automate various tasks. Notably, Anthropic, a relatively young company founded just five years ago, now boasts a market capitalization of $380 billion, surpassing the combined value of Infosys, Wipro, TCS, and HCL.
In a separate development, Wipro has announced the resignation of Suzanne Dann, the CEO of its Americas-2 Strategic Market Unit. This unit contributes around one-third of Wipro’s revenue and encompasses the Canadian market as well as banking, financial services, and energy sectors in the US. Dann is stepping down from her role to pursue personal opportunities.