Portuguese technology company InnoWave is set to invest €1 million in Generative Artificial Intelligence (AI) as part of its strategy to integrate AI into all its services and increase its revenue by 77% by 2028. The company's ambitious goal is to reach €50 million in revenue by 2028, up from €22 million in 2024, with 60% of the revenue already coming from international markets.
InnoWave’s plan, dubbed the NEXT strategy, focuses on accelerating the adoption of AI across its operations. The strategy aims to strengthen internal capabilities, optimize processes, and foster an ecosystem of innovation. It is built on six key pillars: talent, ecosystem, customer value, operational excellence, governance, and communication.
By 2025, InnoWave expects its revenue to grow to €26 million, with significant expansion in the North American market, where 27% of revenue is projected to come from.
Tiago Gonçalves, CEO of InnoWave, explained that while the company had already been investing in AI, the emergence of Generative AI has accelerated its transformation. The NEXT strategy is designed to make InnoWave more agile and efficient, using AI to enhance productivity across ideation, project management, analysis, architecture, software development, and testing. The investment is expected to solidify InnoWave’s leadership in the tech industry and create greater value for customers and partners.
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