With the development of the artificial intelligence (AI) tool at Wipro, jobs of at least 3,000 software engineers is at stake. The AI tool can do the task of 3000 engineers and they might lose their job as they no longer will be required for the same.
According to the latest reports, the artificial intelligence tool has a name and it is called “Holmes,”.
It has been designed in such a manner that it can automate certain projects which may lead to about 3,000 engineers getting rid of their jobs. If this happens, the company not only can save up to $46.5 million, but also will be able to strengthen the chances of profitability. Wipro also plans to sell “Holmes” to its new and existing clients for $60 million to $70 million.
The machine will be utilised at the company’s ‘fixed-price’ projects. Out of Wipro’s total workforce of 110,000 people, Company’s fixed price projects employ about 30,000 people. Deciding on how many people to deploy for these fixed-price projects in exchange for a set fee is the decision of the company.
“Hyper-automation is one of the six themes [CEO Abidali Neemuchwala] has outlined," a Wipro executive told Mint. Another executive who has been briefed about the development said, "We will move out 1,300 engineers from on-site [fixed price contracts] and about 2,000 people from off-site this year.”
Apart from Wipro, Tata Consultancy Services Ltd (TCS) and Infosys Ltd also use the AI technology. Tata Consultancy Services Ltd’s AI technology has been named “Ignio” and Infosys’s AI technology has been named “Mana” respectively. In order to increase revenue streams and provide better and different services than other competitive companies, Indian outsourcing companies are under a lot of pressure.
Other name for “Holmes” is “heuristics and ontology-based learning machines and experiential systems” and is able to perform tasks more efficiently than humans. One of the tasks Holmes is expected to do is help banks process loans more efficiently.
Artificial intelligence platforms can automate many repetitive tasks and can potentially be deployed for several data-oriented jobs. Their increasing use has prompted anxiety whether many jobs will be lost to these platforms.
Speaking about AI recently, Apple co-founder Steve Wozniak said, “If a computer is 100 times better than our brain, will it make the world perfect? Probably not, it will probably end up just like us, fighting."