IT heavyweight Wipro announced that it has expanded its partnership with ServiceNow to scale agentic AI workflows across key enterprise functions, including IT, HR, procurement, and cybersecurity.
Also Read | Wipro shares rally over 4% on deal with ServiceNow to scale agentic AI
Under the expanded partnership, Wipro will integrate Wipro Intelligence, its unified suite of AI-powered platforms, solutions, and transformative offerings, with the ServiceNow AI Platform to enable organisations to streamline the initiation, orchestration, and execution of work across enterprise systems, the company said in a press release. “By reducing manual coordination and improving visibility into how work progresses across core functions, enterprises can accelerate turnaround times while strengthening accountability and operational governance,” it added.
“AI isn’t new to enterprises, but connected, governed, and outcome-driven AI is,” said Amit Zavery, President, Chief Operating Officer, and Chief Product Officer at ServiceNow. “That’s what this partnership makes real. When agentic AI runs inside secure workflows, ideas start delivering real results and the agentic enterprise becomes possible,” he added.
Malay Joshi, Chief Executive Officer of Wipro’s Americas 1 Strategic Market Unit, meanwhile said that for most enterprises, the real challenge with AI is not ambition, but execution at scale. “Our expanded partnership with ServiceNow is designed to bridge that gap through a consulting-led, AI-powered approach that translates business priorities into industry-aligned AI solutions. Together with Wipro Intelligence, we are helping clients streamline operations, drive measurable outcomes, and scale AI adoption with the right governance and controls in place,” he further added.
IT stocks
Wipro shares gained more than 2% to trade at 206.35 apiece, as seen at 10.25 am. Earlier in the morning, the stock had surged more than 4%, following a sharp 18.5% jump in its ADRs.
This comes after the IT stocks saw a significant decline earlier this year after AI startup Anthropic launched plug-ins for its Claude Cowork agent which could automate tasks across legal, sales, marketing and data analysis. “We call it the ‘SaaSpocalypse,’ an apocalypse for software-as-a-service stocks,” Bloomberg quoted Jeffrey Favuzza from the equity trading desk at Jefferies as saying.
While doomsday prophets continue to debate the future of IT companies following fresh AI advancements, investors were quick to analyse the cheap valuations, leading to some pockets of buying, although further AI developments later dampened sentiment. Analysts pointed out that Indian IT companies lagged global peers in terms of AI innovations. However, Wipro’s latest partnership may have boosted hopes.
The optimism spilled over to other IT stocks as well. Infosys shares jumped nearly 4% to lead gains on Sensex and Nifty IT index. LTM, Coforge and Persistent Systems shares jumped around 3% each.
Mphasis, HCLTech and TCS shares gained around 2% each, while Tech Mahindra and OFSS shares were up more than 1% each. The sharp gains pushed the Nifty IT index up more than 2.5% to 29,639 in the morning.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
