Wipro shares will gain focus in Wednesday’s trade (June 12) after the technology major unveiled the Artificial Intelligence (AI) platform- Lab45 on Tuesday. In the previous session, the stock ended 0.2 per cent lower at Rs 475.95 apiece on the BSE.

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The new platform will leverage Generative AI (GenAI) machine learning (ML), and deep learning technologies to enable companies to realize enhanced efficiencies, transform business functions, and enable industry-specific solutions.

Lab45 is Wipro’s Innovation Lab and the Lab45 AI platform is available to all Wipro employees and clients, said the company in an exchange filing.

‘The Lab45 AI Platform runs on a SaaS (Software-as-a-Service) model and supports various state of-the-art Large Language Models (LLM’s) from leading providers as well as custom deep learning and other models. The platform allows for seamless integration of language and visual processing for generating images from text prompts, as well as the ability to index, parse, and summarize content, added the filing.

On the launch, the company’s Chief Technology Officer-Subha Tatavarti said, “We are excited about the transformative impact this platform will have across the business, particularly in HR, sales, marketing, and other business functions. Our platform will help our customers innovate faster while balancing privacy and responsible AI."

Wipro’s Q4FY24 performance

In the March quarter, the company’s net income was at Rs 2830 crore, an increase of 5.2 per cent quarter-on-quarter (QoQ). Gross revenue came in flat sequentially at Rs 22,210 crore.

Wipro share price performance

Over the past year, the stock of Wipro has gained nearly 20 per cent as against Nifty IT’s return of 21.78 per cent.