Wipro, Google Cloud partner to develop generative AI solutions
Here is your daily dose of key developments from the technology world of India.
Wipro expands partnership with Google Cloud
Leading Indian IT services company Wipro expanded its partnership with Google Cloud to bring its advanced generative artificial intelligence (AI) capabilities to clients across the globe.
Wipro will integrate Google Cloud’s full suite of generative AI products and services—including Vertex AI, Generative AI App Builder, and the Model Garden collection of foundation models—with its own AI intellectual property (IP), business accelerators, and pre-built industry solutions. The expanded partnership will help unlock new value within enterprises and transform how large-scale businesses operate, a statement read.
As part of the partnership expansion, Wipro will also train 20,000 associates on Google Cloud’s generative AI technologies.
Together with Google Cloud, Wipro aims to build and deploy new generative AI solutions to help enterprises tackle unique industry challenges, while also improving common enterprise functions such as consumer experiences, marketing, supply chain performance, financial modelling, workforce management, and sustainability.
As part of the partnership, Wipro will build generative AI as a core solution within its set of consulting services, which include digital marketing, customer experience and design thinking, and financial services, as well as within its global innovation labs (Lab45). Additionally, Wipro will leverage its crowdsourcing platform, Topcoder, to build and scale solutions that address client challenges.
Domestic IT, biz services market touch $13.87B in 2022: IDC
The domestic IT and business services market in India was valued at $13.87 billion and recorded a 7.4% year-over-year (YoY) growth as compared to 7.2% in 2021, according to the International Data Corporation's (IDC) Worldwide Semi-annual Services Tracker. The rise in growth rate was due to the digital transformation initiatives among enterprises in the country.
In the IT and business services market, IT Services contributed 78.1% and grew by 8.1% in 2022 compared to the 7.9% growth in 2021. The market is projected to grow at a CAGR of 8.0% between 2022-2027 and reach $20.42 billion by the end of 2027.
IDC classifies the IT and business services market into three primary markets—project-oriented, managed services, and support services. For 2022, project-oriented services registered the highest growth rate at 8.0%, followed by managed services at 7.2%, and support services at 6.4% respectively.
“The Indian IT services market remained resilient, with enterprises investing in digital transformation amidst macroeconomic uncertainties. Factors like chances of an impending recession, high inflation, etc., are not expected to cause a significant impact on the Indian IT services market in the near term," said Harish Krishnakumar, Senior Market Analyst, IT Services, IDC India. "However, there will be a slight slowdown due to cutbacks in discretionary spending, delayed decision-making, etc., in some segments.”
TCS and JLR launch innovation programme in Israel
Tata Consultancy Services (TCS) and Jaguar Land Rover (JLR) announced the launch of the latter’s Open Innovation programme in Tel Aviv. The programme will foster disruptive mobility innovation and strengthen relationships between JLR and Israeli startups, scale-ups, corporate entities, investors, and academia as part of JLR’s Reimagine strategy.
TCS has been a partner of JLR for more than a decade. This latest partnership will help expand JLR’s Open Innovation programme to Israel and support its strategy to accelerate its electric-first modern luxury future.
The programme will leverage TCS’ Co-Innovation Network (COIN) in Israel, to identify local technology offerings and scale them to global mobility solutions and services. It will explore opportunities in electrification, connectivity, digital services, metaverse, intelligent enterprise, manufacturing, supply chain, and sustainability.
TCS has more than 40 research and innovation centres across the world. TCS COIN brings together a network of experts from the startup, research, academics, and corporate worlds to work on collaborative innovations.
Edited by Kanishk Singh