Wipro, the Bangalore-based information technology major, is trying to boost internal innovation. The country’s third largest IT services company has identified focus areas for initiatives in this regard and has also allocated budgets for these. Among others, it is investing in innovation in cognitive technologies, artificial intelligence, man-machine interface, robotics, smart devices and open source. The company believes these could become revenue-accretive in two to five years.
“Historically, companies have focused on ‘run the business’ and ‘change the business’. With the disruption around us today, innovation has become of key importance. That is the reason why at Wipro, innovation is now directly under the chief executive’s radar,” K R Sanjiv, chief technology officer (CTO), told Business Standard.
Adding: “Typically, the investment budgets for companies used to be 60 per cent for running the business and 40 per cent for the changes that are visible in the marketplace today. Now, we are also seeing a direct budget allocation for innovation. This is happening at Wipro as well.” While ‘run the business’ refers to the core bread-and-butter IT services work, ‘change the business’ means new technologies like analytics and big data. These are seeing some traction in the market but are not yet huge revenue churners.