Wipro Doubles Down on AI with New Unit After SaaS Market Jitters
Wipro launches a dedicated AI unit to build agentic solutions, signaling a strategic shift after recent volatility in global SaaS markets.
In a decisive move reflecting the shifting dynamics of the global tech industry, Wipro has unveiled a dedicated artificial intelligence division aimed at accelerating its AI ambitions. The newly formed AI-Native Business and Platforms unit will focus on developing advanced, enterprise-grade “agentic AI” solutions, positioning the company at the forefront of the next wave of automation.
This announcement comes shortly after turbulence in SaaS stocks, triggered by the rise of powerful AI tools such as Anthropic’s Claude Cowork. The disruption, informally dubbed the “SaaSpocalypse,” shook investor confidence across the software-as-a-service sector, impacting companies including Wipro.
Leading the new AI unit is Nagendra Bandaru, a seasoned Wipro veteran with nearly three decades of experience. In his new role as CEO of the AI division, Bandaru will report directly to Srini Pallia, the company’s CEO and Managing Director. Bandaru previously headed Wipro’s Technology Services Global Business Lines (GBL), a role now taken over by former Accenture executive Kanwar Singh.
The AI-focused unit will consolidate Wipro’s existing digital and platform assets into a unified structure. This includes industry-specific platforms such as NetOxygen for AI-driven lending, CROAMIS for aviation cargo management, and healthcare platforms like IHS and HPS. By bringing these under one umbrella, Wipro aims to streamline innovation and accelerate the deployment of AI-led solutions across industries.
A major goal for the unit is to create new business streams powered by artificial intelligence. The company is betting heavily on agentic AI—systems capable of autonomously performing complex tasks—to drive enterprise transformation. The division is also expected to collaborate closely with Wipro Ventures and its broader partner ecosystem.
Wipro’s AI push builds on its existing partnerships. The company has already worked with Microsoft to leverage generative AI through Azure OpenAI services. Additionally, Capco, Wipro’s consulting subsidiary, signed a deal with OpenAI last year, further strengthening its AI capabilities.
The broader industry context underscores the urgency of this move. The rapid ascent of Anthropic—now reportedly valued at $380 billion—has intensified concerns about the future of traditional SaaS models. Its valuation surpasses the combined market capitalization of major Indian IT firms like Infosys, Wipro, TCS, and HCL, highlighting the scale of disruption underway.
Meanwhile, Wipro is also navigating internal changes. Suzanne Dann, CEO of the Americas-2 Strategic Market Unit, has stepped down. This division, which contributes roughly one-third of the company’s revenue, oversees key markets including Canada and major U.S. sectors such as banking, financial services, and energy. Dann is reportedly leaving to pursue personal opportunities.
As competition heats up and AI continues to transform the tech landscape, Wipro’s latest move sends a clear message: evolve quickly—or fall behind.
