Wipro Limited, a leading global information technology company, has announced its plans to invest $1 billion in artificial intelligence (AI) over the next three years. This significant investment aims to strengthen the company’s foundation in AI, data, and analytics capabilities. As a result, Wipro shares saw a 1 percent increase in early trade on July 13.
As part of its commitment to AI, Wipro has launched an AI-first innovation ecosystem service called Wipro ai360. This platform will be utilized to train 250,000 employees over the next year, showcasing the company’s dedication to developing AI expertise across its workforce.
In a bid to rival startup OpenAI, entrepreneur Elon Musk has unveiled his latest venture called xAI. Musk has expressed his desire to create an alternative to the popular ChatGPT artificial intelligence chatbot for several months. With xAI, the company’s mission is to understand the true nature of the universe. Musk will lead the xAI team, which will consist of executives who have worked at renowned AI-driven companies such as Google’s DeepMind, Microsoft Corp., and Tesla Inc., as well as esteemed academic institutions such as the University of Toronto.
Recent reports from the Organisation for Economic Co-operation and Development (OECD) raise concerns about potential job loss due to the advancement of AI. According to the OECD, more than a quarter of jobs in its 38-member bloc, including both wealthy nations and emerging economies, rely on skills that could be easily automated in the future. Workers fear that their jobs may be at risk as AI continues to revolutionize various industries.
As the AI landscape continues to evolve, companies like Wipro and xAI are making significant investments and striving to push the boundaries of AI technology. While these developments hold immense potential, they also give rise to concerns about job security. The impact of AI on the workforce should be carefully monitored and addressed to ensure a balance between technological progress and socio-economic stability.
