Rishad Premji: AI to Power Wipro’s Next Wave of Enterprise Transformation
To fast-track its AI-first approach, Wipro has created an AI Native Business and Platforms Unit and pledged $500 million through Wipro Ventures to invest in AI, data and cybersecurity firms. The company is extending its network of relationships with universities, AI laboratories and startups.
Consulting, enterprise platforms, and AI-led transformation will be Wipro's primary areas of concentration as its clients transition from experimentation to execution. Chairperson Rishad Premji and Chief Executive Officer and Medical Director Srini Pallia made an announcement at the 80th Annual General Meeting (AGM) on July 15.
Even if the IT industry as a whole is being cautious, the business has stated that it will keep investing in AI capabilities, platforms, partnerships, and talent while keeping its focus on margins and cash creation. Bringing attention to the evolving environment of enterprise technology, Premji stated that AI constituted a fundamental change in the firm's era and was opening up new avenues for growth, innovation, and transformation.
Recent Financial Performance of Wipro & Future AI Plans
Despite a 14% increase in total bookings to $16.4 billion, Wipro's IT services revenue fell 1.6% in constant currency to $10.5 billion for FY26. The number of large-deal bookings rose to $7.8 billion, with four deals totalling over $500 million in contract value. The operating margin for the company likewise increased to 17.2%. It takes more than just implementing technology, according to Premji, to see business benefits from AI.
For businesses to undergo this change, they must rethink their workflows and procedures, update their data and enterprise architecture, and involve their employees. New skills, operating models, and accountable AI governance will be necessary along this long-term path, he added. Also, most of the employees have finished advanced AI learning courses; thus, the business is using AI internally as well. Also, skills like exponential engineering, AI architecture, and forward-deployed engineering are being developed at the same time. Meanwhile, CEO Pallia noted that the use of AI was picking up speed and that clients were looking for quantifiable results in their business more and more.
AI will be the Next Driving Force for Wipro
To further its AI emphasis as it shifts towards a platform-plus-services model, Wipro, according to Pallia, has formed an AI Native Business and Platforms Unit. Also, Wipro Ventures will be receiving $500 million from the corporation to put into cutting-edge AI, data, and security startups. More than that, it is strengthening ties with universities, AI laboratories, and startups. Wipro has opened ten innovation labs across the world in the last year and is now home to an applied artificial intelligence centre of excellence for Anthropic-powered cloud models.
According to Pallia, Wipro Intelligence was the brains behind the company's AI strategy. This strategy aims to achieve enterprise-scale results by integrating platforms, industry solutions, and breakthroughs from partners. In addition, the business is working on domain-specific small language models (SLMs) to help with autonomous AI needs, client-side operational cost reduction, and specialist AI agents. In response to shareholder worries about Wipro's slower revenue growth and market share gains compared to competitors, Premji stated that the company's focus is on creating a unique consulting-led AI business.
