IBM | Business Upturn

IBM expands technology expert Labs in India to drive adoption of Gen AI, Key Technologies

Tushar Aggarwal — Wed, 06 Mar 2024 12:20:02 +0000

IBM is expanding its Technology Expert Labs in India, focusing on driving the adoption of key technologies such as Generative AI, Data & AI, Automation, Sustainability, Security, and Infrastructure. This expansion, based out of Bengaluru and Kochi, aims to help clients fully realize the potential of technologies like AI, Hybrid Cloud, and Cybersecurity to maintain strong businesses in a competitive landscape.

The IBM Technology Expert Labs consist of a team of technical experts who will advise, architect, and deploy outcome-based client engagements to deliver value while minimizing implementation risks. With businesses worldwide accelerating the adoption of technologies like AI and Generative AI, having the right skill sets and talent to integrate these technologies into existing IT landscapes and business processes is crucial.

The Global AI Adoption Index 2023 by Morning Consult, conducted on behalf of IBM, revealed that limited AI skills and expertise, difficulty in integrating and scaling AI projects, and lack of skills for implementation are major inhibitors for successful AI adoption. The expertise and global experience of IBM Technology Expert Labs will accelerate technology adoption for clients worldwide, with a focus on building capacity and competency in Generative AI, Data & AI, Automation, Sustainability, Security, Cloud, and zSoftware.

Sanjay Pal, Vice President of IBM Technology Expert Labs, emphasized the need for businesses to scale successful Proof of Concepts to production environments faster, highlighting the Labs’ role in guiding clients through their transformation and technology adoption journey. Co-located with IBM Product Development teams, the Labs will have access to product insights, features, and solutions, benefiting clients and partners globally. The team has already contributed to successful client engagements across Asia Pacific, Europe, Middle East, Africa, and North America, and is poised to scale further to meet the evolving technological needs of organizations.

S&P and Dow close low, fear of Coronavirus increases

Sanah Shah — Sat, 23 Jan 2021 05:48:43 +0000

The Dow Industrials and S&P 500 ended soberly low on Friday 22nd January 2021, brought down by losses in blue-chip technology loyalists Intel and IBM following their quarterly results, and economic reopening is expected in the upcoming months.

IBM Corp fell by 9.91% and was the top drag on the Dow Jones Industrial Average. It missed estimates for quarterly revenue, wounded by an unusual sales slump in their software unit.

Intel Corp declined by 9.29% as Pat Gelsinger, new Chief Executive Officer through his post-earnings comment implied that there was a void of the strong embrace of outsourcing.

On the other hand, losses in the tech sector were balanced by profits from Microsoft Corp and Apple Inc which kept the declines on the main U.S. stock indexes in check and lifting the Nasdaq moderately.

Among the 11 S&P sectors, the worst performers were energy and financials on 22nd January 2021. In comparison, the defensive utilities and real estate groups were ahead.

Andrew Mies, chief investment officer at 6 Meridien in Wichita Kansas, said, “Any delay or setback in the reopening theme is probably going to be a headwind for the energy sector. (But) the market is telling you that its confidence in the cyclical is diminished now.

The S&P 500 and the Nasdaq cut some losses soon after the opening bell as data suggested U.S. manufacturing activity shockingly increased to its highest level in more than 13-1/2-years at the beginning of January, juxtaposed to a discouraging result in the purchasing manager data in Europe earlier.

The Dow Jones Industrial Average declined by 179.03 points, or 0.57%, to 30,996.98, the S&P 500 fell by 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite gained 12,15 points, or 0.09%, to 13,543.06.

Volume on the U.S. exchanges was 12.79 shares, in comparison to the 12.68 billion average for the entire season over the past 20 trading days.

Despite the deficiency, the three major indexes scored weekly gains, with the tech-oriented Nasdaq tracking for its best weekly performance since 6th November 2021 as investors rushed into Alphabet Inc, Apple Inc and Amazon.con Inc, forecasting their earnings reports in the coming weeks.

For the week 18-22 January, S&P increased by 1.94%, the Dow rose by 0.59% and the Nasdaq unofficially rose by 4.19%.

Stock evaluations are coming close to levels that haven’t been witnessed since the Dotcom era. In light of this, some market members said new COVID-19 mutations, variants and hiccups in vaccine rollouts present near-term risks.

U.S. President Joe Biden said the economic crisis in the country was worsening and that the government needs to take immediate and major action to help Americans fighting to survive.

Mies regarding the control of COVID-19 and the reopening of the economy, commented, “The absolute assurance that investors felt a week ago… some of that is starting to fade out of the market.”

The Senate Finance Committee unanimously approved Janet Yellen’s nomination as the first woman Treasury secretary, implying that she will win the entire Senate’s approval.

Declining issues exceed advancing ones on the NYSE by a 1.00-to-1 ratio. On Nasdaq by a 1.53-to-1 ratio in favour of advancers.

The S&P 500 posted 16 fresh 52-week highs and no new lows. Meanwhile Nasdaq Composite reported 189 new highs and 7 new lows.

L&T Infotech and IBM expand alliance; LTI gains 1.46%

Ruchira Sonawat — Tue, 12 Jan 2021 07:20:15 +0000

Larsen & Toubro Infotech (LTI) said on Tuesday, it is expanding its multi-year, global alliance with IBM to help businesses transform operations through hybrid cloud adoption. LTI rose 1.46% to Rs 4,305.90 after the announcement. It will help clients migrate and modernize core business applications leveraging IBM Cloud offerings.

Under this agreement, LTI and IBM plan to establish an innovation centre in Bengaluru in 2021 offering a comprehensive suite of IBM’s cloud, automation, integration, data & artificial intelligence solutions to foster innovation. IBM will provide training to LTI employees to facilitate co-creation workshops and solution development for its clients.

Commenting on the alliance, Sudhir Chaturvedi, president-sales and executive board member, L&T Infotech said, “World’s leading organizations trust L&T Infotech as the partner of choice in enabling digital transformation journeys and modernizing their existing technology landscape. We are expanding our resolute relationship with IBM to allow customers to seamlessly embark on hybrid cloud environment with best-in-class automation and Integration.”

LTI is a global technology consulting and digital solutions company. It reported a 9.70% gain in consolidated net profit to Rs 456.80 crore on a 1.7% rise in revenues to Rs 2,998.40 crore in Q2 September 2020 over Q1 June 2020.