Wipro Ltd, an Indian IT services provider, announced that it would invest $1 billion in artificial intelligence (AI) over the next three years. According to an exchange filing, the investments will focus on the expansion of AI, big data, and analytics solutions, as well as the development of new research and development and platforms.

This comes almost a week after rival Tata Consultancy Services announced plans to train 25,000 engineers on Microsoft's Azure Open AI.

Companies from banks to big tech have increased their AI investments after ChatGPT, a generative AI chatbot developed by Microsoft-backed OpenAI, took the world by storm in late 2022.

Wipro ai360, its AI-first innovation ecosystem, was also launched, and the company stated that it would train all of its approximately 250,000 employees on AI over the next 12 months.

"We expect a fundamental shift ahead, especially with the emergence of generative AI," Wipro CEO Thierry Delaporte said.