AI

M Nagaraju, Secretary of the Department of Financial Services (DFS), has urged Indian banks to significantly strengthen cyber security frameworks and operational resilience amid growing concerns over emerging artificial intelligence-driven threats. Speaking at an Indian Banks' Association conference on risk management in Mumbai, Nagaraju warned that advanced AI models such as Anthropic Mythos could create serious vulnerabilities for the banking ecosystem if publicly deployed without adequate safeguards.

India’s public sector banks are preparing to significantly increase technology investments to counter emerging cybersecurity risks linked to advanced artificial intelligence tools such as Claude Mythos AI. Concerns over the tool’s ability to identify and exploit system vulnerabilities have prompted banks to reassess digital defenses. Punjab & Sind Bank CEO Swarup Kumar Saha confirmed plans to boost IT spending to safeguard customer data and financial systems.

India’s artificial intelligence ambitions received a major boost as senior industry leaders highlighted the strategic importance of infrastructure, energy, and connectivity in building a robust digital ecosystem. Jeet Adani of the Adani Group and Rakesh Bharti Mittal of Bharti Enterprises emphasised that Visakhapatnam is emerging as a critical digital gateway for the country. Their remarks came after the foundation-laying ceremony of a USD 15 billion Google AI data centre near the coastal city.

Artificial intelligence is rapidly reshaping India’s employment landscape, with growing evidence suggesting that AI proficiency will soon become a decisive factor in salary growth. Industry estimates indicate that a vast majority of knowledge workers are already leveraging AI tools, while employers increasingly prioritize these capabilities in hiring decisions. Over the next two to three years, sectors such as technology, global capability centers (GCCs), and banking, financial services, and insurance (BFSI) are expected to witness accelerated compensation shifts.

Wipro has announced a strategic acquisition of select customer contracts from Alpha Net Consulting in a deal valued at up to USD 70.8 million, or approximately Rs. 590 crore. The transaction is aimed at expanding Wipro’s client base, strengthening its consulting-led services, and accelerating its artificial intelligence-driven offerings. By integrating key contracts, workforce talent, and long-standing client relationships, Wipro seeks to enhance its competitive positioning in global IT services.

Technology firm Take Solutions has introduced a Rs 5 crore innovation fund aimed at investing in high-potential startups operating at the intersection of artificial intelligence, deep technology, and the health and wellness sector. The initiative reflects a growing trend among established companies to foster innovation through strategic investments in emerging ventures. By targeting cutting-edge technologies and scalable healthcare solutions, the fund seeks to accelerate innovation while strengthening the company’s long-term growth prospects.

The rapid adoption of artificial intelligence across the technology sector is triggering a wave of workforce restructuring, prompting concerns over job security and corporate accountability. Employee advocacy groups are urging both industry leaders and policymakers to prioritize reskilling initiatives over layoffs, while calling for stronger labor protections, including mandatory severance frameworks and clearer employment guidelines. Despite robust profitability in the sector, the shift toward automation is creating uncertainty among white-collar professionals.

Wipro has unveiled a dedicated AI-Native Business and Platforms unit, signaling a strategic pivot toward artificial intelligence-led transformation. The move is accompanied by a significant leadership reshuffle, with long-time executive Nagendra Bandaru appointed as CEO of the new division. He will report to CEO and Managing Director Srini Pallia. Meanwhile, industry veteran Kanwar Singh joins to lead Technology Services Global Business Lines.

A series of recent developments across global markets highlights the evolving intersection of technology, finance, and geopolitics. From India-led artificial intelligence (AI) skilling initiatives in Africa to renewed volatility in cryptocurrency markets and multilateral financial agreements, the global economy is navigating a complex transition. Institutions are investing in digital infrastructure and human capital, while policymakers address macroeconomic uncertainty and capital flows. 

Wipro has introduced a next-generation AI-powered data centre solution aimed at enabling enterprises to transition from experimental artificial intelligence initiatives to full-scale deployment. Developed in collaboration with NVIDIA, the platform integrates advanced AI capabilities into core infrastructure, offering businesses a unified ecosystem for data management, analytics, and customer engagement.