Wipro doubles down on AI after SaaS shock, unveils new unit amid market churn

Indian IT major Wipro has announced the launch of a dedicated artificial intelligence (AI) division, marking a strategic pivot just weeks after its stock was hit during a broader SaaS market downturn triggered by Anthropic’s Claude Cowork.

The newly formed AI-Native Business and Platforms unit will focus on developing enterprise-grade agentic AI solutions, as Wipro looks to reposition itself in a rapidly evolving technology landscape. The company was among several SaaS firms impacted by the so-called “SaaSpocalypse,” sparked by concerns that advanced AI tools could disrupt traditional software services models.

Veteran executive Nagendra Bandaru has been appointed CEO of the new AI unit. With nearly three decades at Wipro, Bandaru will report directly to CEO and Managing Director Srini Pallia. He previously served as President and Managing Partner of Technology Services Global Business Lines (GBL).

Meanwhile, former Accenture executive Kanwar Singh will take over Bandaru’s previous role in GBL.

Consolidating platforms, scaling AI ambitions

Wipro said the AI-native unit will consolidate its platform assets under a unified structure. These include industry-specific offerings such as NetOxygen for AI-driven lending, CROAMIS for aviation cargo management, and healthcare platforms IHS and HPS.

The company aims to build new AI-led business streams while strengthening collaboration with its venture arm, Wipro Ventures, and a broader partner ecosystem.

Wipro has already been expanding its AI footprint through partnerships. It has tied up with Microsoft to deploy generative AI tools via Azure OpenAI, while its subsidiary Capco signed an agreement with OpenAI last year.

The shift mirrors a wider industry trend. Rival Tata Consultancy Services (TCS) earlier confirmed it is developing an AI-native operating system for enterprises.

AI boom reshapes SaaS outlook

The rapid rise of AI tools such as Claude Cowork has intensified concerns over the future of SaaS companies, with automation capabilities threatening to upend traditional service models.

Anthropic, founded just five years ago, is now valued at $380 billion—surpassing the combined market value of major Indian IT firms including Infosys, Wipro, TCS and HCLTech.

Leadership churn in key market unit

Separately, Wipro confirmed that Suzanne Dann, CEO of its Americas-2 Strategic Market Unit, has resigned. The unit contributes roughly one-third of the company’s revenue and covers Canada, along with key banking, financial services and energy businesses in the US.

Dann is understood to be stepping down to pursue personal opportunities.