Shares of IT major Wipro are in the news today after the firm said it has teamed up with the world’s most valuable company Microsoft to launch a suite of cognitive assistants for financial services powered by generative artificial intelligence (GenAI). These assistants such as Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination, plan to revolutionise how financial professionals operate. Shares of Wipro were trading on a flat note at Rs 461.85 on BSE. The market cap of Wipro climbed to Rs 2.41 lakh crore on BSE. A total of 9190 shares of the firm changed hands amounting to a turnover of Rs 42.37 lakh on BSE.
Wipro shares have gained 21.52% in a year but fallen 3.38% this year.
In terms of technicals, the relative strength index (RSI) of Wipro stands at 39.3, signaling the stock is neither oversold nor overbought. The IT stock is trading higher than the 5-day, 10-day, 150-day, 200 days but lower than the 20-day, 50-day, 100-day moving averages.
Using cutting-edge GenAI technology, these assistants will furnish financial experts with in-depth market insights and timely updates on investment options and customer behavior. They’ll also streamline the investor onboarding and loan origination processes by slashing document validation times and offering helpful responses to investor queries. What sets these cognitive assistants apart is their integration with existing digital platforms, ensuring a smooth experience for both financial professionals and their clients.
Suzanne Dann, CEO of the Americas 2 Strategic Market Unit at Wipro Limited, highlighted the potential for exceptional client experiences and increased productivity in the financial sector.
“This new solution set, powered by Microsoft, will help provide better and faster market and product intelligence to financial advisors and banking professionals, enabling them to deliver more personalized and timely service to clients. These solutions will also reduce the multiple—often repetitive—steps needed to onboard new investors or originate loans, cutting down the time spent on paperwork. We look forward to deepening our collaboration with Microsoft in this sector and continuing to deliver cutting-edge solutions to our financial services clients,” said Dann.
The article originally appeared on Business Today.
