Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced that it is working with Amazon Web Services (AWS) to redefine the future of lab processes in the life sciences industry.
The life science and pharmaceutical industries have long struggled with outdated laboratory processes that hinder efficiency and increase costs. Lab technicians, lab associates, and medical specialists often find themselves performing tasks outside of their expertise due to the fragmentation of laboratory operations across various platforms. This lack of cohesion not only results in inefficiencies but also extends the time required to bring new drugs and products to market, subsequently increasing research and development expenses.
Recognizing these challenges, Wipro began working with AWS to create the Lab of the Future. This innovative solution addresses the root issues that have plagued the industry, offering a comprehensive, cloud-based platform that streamlines laboratory processes and enhances collaboration among stakeholders.
"Our vision with launching Lab of the Future, is to deliver holistic lab performance powered by generative AI, advanced analytics, and a consultative business first approach," said Philippe Dintrans, Senior Vice President & Global Head of Domain & Consulting at Wipro Consulting.
Among the key challenges facing the Life Sciences industry today are decreasing ROI for R&D (R&D returns fell to 1.8% in 2019, down from 10% in 20101), increasing cost of bringing new drugs to the market, and the significant amount of time spent on data management, which takes 45% of data scientists' time, according to recent surveys.2
By introducing the Lab of the Future, Wipro and AWS aim to empower the life sciences industry with a modern, efficient, and collaborative laboratory solution that has the potential to significantly reduce costs and accelerate the development of life-saving drugs and products.
"Wipro has enhanced offerings for clients across the life sciences value chain and our latest Lab innovation with AWS further illustrates our commitment to helping our clients improve business outcomes and enable cost efficiency," said Srini Rajamani, Senior Vice President & Sector Head - Consumer and Life Sciences at Wipro.
The Lab of the Future offers a range of modules and solutions designed to transform laboratory operations. Among them:
Lab as a Service: This module focuses on creating and optimizing labs from the ground up. It includes performance tracking and risk assessment through the Wipro Total Intelligence user dashboard.
Safety Notifications: This module can deliver notifications to lab staff to alert hazardous events such as chemical spills and fires, providing immediate action plans in accordance with standard operating procedures (SOPs) and Material Safety Data Sheets (MSDS).
Inventory Management: This module tracks and manages lab equipment stock, calibration cycles, utilization, wear and tear, and Internet of Things (IoT) updates, ensuring efficient inventory management.
Scientific Information Platform: Provides instant access to scientific reference information with the help of virtual subject matter experts.
Biomarker Hub: This module enables personalized medicine through DNA sequencing and the integration of digital biomarker data.
E-Lab Notebook: Automatically records lab notes during experiments, reducing the burden of manual documentation.
Shares of Wipro Limited was last trading in BSE at Rs. 413.25 as compared to the previous close of Rs. 406.15. The total number of shares traded during the day was 424568 in over 6670 trades.
The stock hit an intraday high of Rs. 414.50 and intraday low of 404.05. The net turnover during the day was Rs. 173258946.00. |
