Wipro's New CEO Srini Pallia Reveals Strategy For Growth Amidst Short-term Challenges
Pallia replaced Thierry Delaporte as Wipro’s new CEO two weeks back
Wipro’s newly appointed CEO, Srini Pallia, on Friday outlined a strategic vision aimed at propelling the company towards growth during the Q4 FY24 post-earnings press conference with a strong emphasis on large deals, AI and simplifying operating model and focus on execution rigour.
Five-Pointed Growth Strategy
Pallia outlined five key focus areas for revitalising Wipro’s growth trajectory, including accelerating large deal momentum, strengthening client relationships, focusing on industry-specific solutions, building AI-ready talent and streamlining the operating model for enhanced execution efficiency.
“The core tenets of our strategy remain unchanged," stressed Pallia. “What’s important is how we build these five priorities and adapt as necessary to accommodate technological shifts and market conditions.”
“We are on the brink of a major technological shift,” noted Pallia. “We make substantial investments to strengthen our capabilities across the organisation and really have a global and diverse presence.”
Looking ahead, Pallia provided guidance of -1.5 per cent to 0.5 per cent for Q1 FY25, expressing confidence in Wipro’s ability to chart a path to growth. Despite prevailing market uncertainties, Wipro expects sequential growth in constant currency and aims to sustain strong margins. “The next few months will be crucial as we steer the company towards growth,” concluded Pallia. “But with our unwavering belief in Wipro, our values, our people, our clients, and above all our resilience, I am confident in our ability to succeed.”
"While I remain optimistic about the long term, it's important to be transparent. There is still a considerable amount of work ahead of us. Our immediate priority is to accelerate growth." - Srini Pallia, CEO and MD, Wipro
AI-augmented Growth
Despite high possibility of facing short-term challenges posed by the current global economic environment, Pallia expressed optimism about the future, particularly in light of the impending technological shift towards AI. “Every client I talk to across industries is very eager to leverage AI to shape the future of the business,” said Pallia. He stressed that Wipro is poised to tap into this opportunity.
Pallia indicated that the company has gained momentum in the area of AI and has been positioning itself to seize opportunities arising from the increasing adoption of AI solutions in the market. He shared a specific example of Wipro’s success from a deal in Q4 by implementing AI-powered solutions for a leading global apparel brand. He described how Wipro partnered with the brand to implement generative AI (GenAI) solutions, focusing on driving digital transformation responsibly.
“This involved implementing large language models (LLMs) to improve search recommendation engines, and enable hyper personalisation at scale,” he revealed.
Pallia, who replaced Theirry Delaporte as Wipro’s new CEO two weeks back, spoke on the newly launched the Wipro Enterprise Artificial Intelligence platform in partnership with IBM. “This is a new service that will allow clients to create enterprise level, fully integrated and customised AI environment.”
Further, Pallia mentioned that in FY25 AI will be integrated into every solution and customer interaction, to differentiate Wipro’s offerings in the market. These AI-infused solutions will be more industry-specific and tailored to address specific client needs.
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