Wipro Ventures also participated in Kognitos’ latest Series A Funding Round
SAN JOSE, Calif. and BENGALURU, India, May 8, 2024 /PRNewswire/ — Wipro (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company and Kognitos Inc., a leader in Generative Al Automation and a portfolio company of Wipro Ventures, today announced a collaboration to deploy enterprise ready GenAI-based Business Automation Solutions. In addition to this, Wipro Ventures, Wipro’s corporate investment arm, invested in Kognitos as part of the firm’s Series A funding round.
Wipro’s Digital Operations and Platforms business line will leverage Kognitos’ platform to drive productivity in large transformation engagements. The platform will automate complex business process workflows for Wipro’s customers in use cases like order management, contact center, and finance and accounting services. The Financial Shared Services team at Wipro will also use the platform to manage multiple processes like Collection Accounting and complex reconciliations.
“Generative AI is already becoming a key pillar for business process automation, and we are excited about this engagement.” said Jasjit Singh Kang, Senior Vice President and Business Head, Digital Operations & Platforms, Wipro Limited. “The Kognitos platform leverages enterprise-ready, safe, AI and will enable us to help our customers reimagine their business processes and achieve operational efficiencies at scale.”
Kognitos empowers end users to automate business processes using plain human language, making English the new “code.” Its Natural Language Processing capabilities facilitate ease of deployment, ability to handle a wider range of use cases, and moves exception handling to the business user, reducing the burden on IT.
“It is becoming imperative for all large enterprises to not just deploy AI, but to empower their employees to govern it well. Wipro is leading the charge of delivering enterprise-grade safe AI for mission-critical business automation by leveraging our auditable, scalable and hallucination-free automation platform. This alliance further advances our mission of bringing safe AI to the world.” said Binny Gill, Chief Executive Officer, Kognitos.
As part of this initiative, Wipro will also establish a Center of Excellence and train its associates globally to deploy the solution from Kognitos for enterprise customers.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With nearly 240,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com
About Kognitos
Kognitos is the first company to enable generative AI to automate end to end enterprise business processes. Founded in 2020, the company set out to address one of the biggest challenges for today’s businesses, automating intricate processes and workflows. Rather than forcing business managers to think like developers, Kognitos uses natural language processing automation (NLPA) and large language models (LLMs) such as ChatGPT to enable business users to build automated workflows using everyday English. Kognitos is bringing seamless automation to billions of business users worldwide. For more information, visit https://www.kognitos.com
Media Contact:
Wipro Limited
Media-relations@wipro.com
Kognitos
Kognitos@5wpr.com
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
SOURCE Kognitos