Tag: IBM

IBM wins reversal of $1.6 billion judgment to BMC over software contract

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A federal appeals court on Tuesday overturned a judgment requiring IBM to pay rival BMC Software $1.6 billion after a judge found IBM improperly replaced BMC’s mainframe software at AT&T with its own.

The 5th U.S. Circuit Court of Appeals in New Orleans said a lower court judge’s determination concerning liability was in error. Writing for a three-judge panel, U.S. Circuit Judge Edith Jones said AT&T, one of BMC’s biggest clients, had switched to IBM software ”independently” and that BMC had ”lost out to IBM fair and square.”

A BMC spokesperson declined to comment. An IBM spokesperson said in a statement that the company ”acted in good faith in every aspect of this engagement” and is ”grateful the court agrees.”

Representatives for AT&T, which is not a party to the case, did not immediately respond to a request for comment.

Houston-based BMC develops and licenses proprietary mainframe software products. Under an agreement, IBM can maintain and operate mainframes running BMC software with a ”non-displacement” provision that limits IBM from switching BMC clients’ software to IBM’s, the ruling said.

AT&T hired IBM to manage its mainframe operations. BMC’s lawsuit in Houston federal court accused IBM of breaching their contract when AT&T abandoned its software for IBM’s.

Tuesday’s ruling overturned U.S. District Judge Gray Miller’s 2022 decision that IBM owed BMC $1.6 billion in damages for breaking their agreement. Miller said IBM had already secretly agreed to replace BMC’s software at AT&T when it negotiated the contract in 2015.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IBM and Microsoft partner to unveil Experience Zone in Bengaluru

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IBM Consulting and Microsoft on Thursday announced the launch of the IBM-Microsoft Experience Zone in Bengaluru, which is a first-of-its-kind collaboration.

The Experience Zone provides a dedicated space for clients to explore how generative AI, hybrid cloud and other Microsoft products and technologies can accelerate their business transformation journeys and help them gain a strategic advantage, IBM said in a statement.

At the Experience Zone, clients from around the globe and across industries can work with IBM Consulting, in various technology zones, to co-ideate and co-create generative AI-powered solutions that leverage Azure OpenAI Service, Copilot and other Microsoft technologies, it added.

Within the technology stations, clients can explore business solutions for cloud modernisation, data, analytics and advanced AI, customer relationship management, employee experience, finance and operations, IoT and edge, and emerging technology including augmented reality and virtual reality.

The Experience Zone also highlights industry solutions for the government, retail and energy sectors.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

LTIMindtree collaborates with IBM to advance quantum innovation ecosystem

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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LTIMindtree Ltd has joined hands with IBM to advance its quantum innovation ecosystem. In a press release, the company said that it has joined the IBM Quantum Network to explore quantum computing innovation for the benefit of its global clientele across multiple industries.

This move makes LTIMindtree the first Indian Global System Integrator (GSI) to join the IBM Quantum Network.

The technology consulting and digital solutions major has also said on Wednesday that it will enter into collaboration with the Indian Institute of Technology (IIT) Madras, which also happens to be an IBM Quantum Innovation Centre, for joint quantum research as well as workforce development.

LTIMindtree has expanded its platinum partner status with IBM after joining the IBM Quantum Network. This makes the company a part of the global community, comprising Fortune 500 companies, top universities, research labs and startups.

Through this collaboration, LTIMindtree will be able to access the resources of IBM, which will include the latter’s global fleet of quantum computing systems over the cloud, software, and associated expertise.

“We are thrilled to embark on this journey with IBM and IIT Madras, India. These collaborations are more than an innovation milestone; they’re an important step towards a future where quantum computing could help solve more complex problems faster and more efficiently,” said the Chief Technology Officer of LTIMindtree, Aan Chauhan, in a press release.

Going forward, LTIMindtree plans to establish a series of long-term projects through such collaborations, which will include applied research toward business and societal problems, quantum computing workshops, and research grants.

Shares of LTI Mindtree closed 0.66% lower at ₹5,406.65 apiece on BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IBM Report | India leads the world in workplace AI deployment

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IBM’s Global AI Adoption Index 2023 report has found that 59% of enterprise-scale organisations in India — with over 1,000 employees — have actively incorporated artificial intelligence (AI) into their business operations. The study states that India has the highest deployment rate among the countries surveyed.

The research also shed light on the fact that early adopters in India, constituting 74% of surveyed enterprises, have accelerated their investments in AI over the past 24 months. Areas such as research and development (R&D) and workforce reskilling have witnessed substantial AI integration.

Skills gap remains the biggest barrier to AI adoption in India

However, the study noted that the top five barriers hindering successful AI adoption at enterprises, both exploring or deploying AI, are limited AI skills and expertise (30%), lack of tools/platforms for developing AI models (28%), AI projects being too complex or difficult to integrate and scale (27%), ethical concerns (26%) and too much data complexity (25%).

Addressing these challenges is expected to be a priority in 2024, the study stated, with a focus on providing relevant skills and implementing a robust AI governance framework.

Sandip Patel, Managing Director of IBM India & South Asia, highlighted the potential for even greater AI adoption: “The increase in AI adoption and investments by Indian enterprises is a good indicator that they are already experiencing the benefits from AI. However, there is still a significant opportunity to accelerate as many businesses are hesitant to move beyond experimentation and deploy AI at scale.”

Patel emphasised the importance of data and AI governance tools for responsible AI model development, stating that without proper governance, AI could expose companies to issues such as data privacy concerns, legal complications, and ethical dilemmas.

Key highlights

Steady AI adoption at large organisations: Currently, 59% of IT professionals at large organisations in India report active deployment of AI, with an additional 27% actively exploring its use.

Accelerated investments: A notable 74% of IT professionals in companies deploying or exploring AI indicate an acceleration of investments in areas like R&D, reskilling, and building proprietary AI solutions over the past 24 months.

Skills gap challenges: The skills gap remains the most significant barrier to AI adoption in India, with limited AI skills and expertise identified by 30% of respondents.

Trustworthy AI: 94% of respondents underscore the importance of being able to explain how their AI model reached a decision, indicating a strong correlation between trust and AI adoption.

Workforce impact: AI is already impacting the workforce, with companies using AI to address labour shortages by automating manual tasks, implementing customer self-service solutions, and enhancing recruitment and human resources.

As AI continues to evolve, IBM’s report suggested that India is poised to lead the way in AI adoption, with the need for skill development and ethical considerations serving as crucial focal points in the months to come.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IBM sees strong sales and free cash flow in 2024; Job cuts planned

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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International Business Machines Corp. (IBM) delivered a positive outlook for revenue and cash flow in 2024, an optimistic signal for the pace of corporate technology spending, even as it expects to reduce jobs.

Free cash flow will be about $12 billion in the year ending in December, the company said on Wednesday in a statement. Analysts, on average, estimated $10.9 billion, according to data compiled by Bloomberg. Revenue will grow in the “mid-single digits,” the company said. Analysts projected about 3% sales growth.

IBM has focused on streamlining its operations around software and services in recent years, divesting managed infrastructure, weather and health businesses. The Armonk, New York-based company said it will also cut a percentage of positions in the low-single digits this year. And IBM has introduced new products to capitalize on growing interest in artificial intelligence.

“Client demand for AI is accelerating and our book of business for watsonx and generative AI roughly doubled from the third to the fourth quarter,” Chief Executive Officer Arvind Krishna said in the statement, referring to the company’s AI platform.

IBM’s planned job cuts follow similar announcements in January by major tech companies, including Alphabet Inc.’s Google and Amazon.com Inc. Chief Financial Officer James Kavanaugh said IBM will likely spend the same amount on restructuring as it did last year — $400 million — when it reduced its workforce by about 3,900 jobs. However, the company continues to hire for certain positions and expects headcount to be about the same at year’s end, he said. IBM had about 288,000 employees at the end of 2023.

“I expect many macro trends to be similar to 2023” in the coming year, Krishna said during a conference call after the results were released. “Every client I speak with is asking about how to boost productivity with AI and manage the technology stack.”

The cash flow outlooks “suggests greater operational efficiencies and steady organic growth,” wrote Bloomberg Intelligence’s Anurag Rana. “We expect IT spending to accelerate more toward 2H, which could lead to steady improvement in consulting growth.”

Fourth-quarter sales gained 4.1% to $17.4 billion. Profit, excluding some items, was $3.87 a share. Analysts, on average, estimated revenue of $17.3 billion and adjusted earnings of $3.76 a share.

Consulting revenue increased 6% to $5 billion, just shy of analyst estimates of $5.1 billion. Investors have focused on weakness in this business unit in recent quarters as economic uncertainty weighed on customer appetites for large projects.

Software also came in just below expectations — $7.5 billion in the quarter ended December 31, compared with the $7.7 billion projected. Red Hat, the software division IBM acquired in 2019, posted sales growth of 8%, another comparatively slow period for a business that once regularly jumped more than 20% each quarter.

IBM shares rose 8.2% in extended trading post the announcement.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

HCL Tech becomes the fifth IT firm to hit $50 billion Mcap globally

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market capitalisation of HCL Technologies surged past the $50 billion mark for the first time on Friday, after optimistic management commentary from the sector bellwether Tata Consultancy Services (TCS) bolstered overall investor sentiment.

Ahead of Q3 results, shares of HCL Technologies hit a fresh lifetime high of Rs 1,555 on the National Stock Exchange. The stock, which added 4% on Friday, saw its market capitalisation swell by $1.95 billion. Even though a strong rupee normally drags earnings of the IT sector, this time around it helped the company to boost its valuation in dollar terms. The local currency has gained close to 0.50% over the last eight sessions to hit a four-month high of 82.92 against the US dollar.

While Dublin-based Accenture tops the league table with a market valuation of $232 billion, homegrown TCS occupies the second spot, having a market capitalisation of $171 billion. Infosys, the second largest IT firm in the country, occupies fourth rank in the world with a market capitalisation of $80.7 billion.

(Source: Bloomberg)

HCL Tech, the best-performing large IT stock, has returned as much as 44% in the last twelve months, which is almost twice the return yielded by the benchmark Nifty50 during the same period. While the stock of Infosys has gained 9% over the last year, TCS has returned 16.5%, whereas Nifty50 has surged 22.6% during the same period. The rally in HCL Tech stock has also narrowed the valuation gap with the other two big players.

Further, the better-than-expected Q3 numbers also boosted its revenue forecast for the full year. The Noida-headquarter company now expects its revenue to grow 5% to 5.5% in constant currency with an EBIT Margin of 18% to 19%. The company also announced an interim dividend of ₹12 per share, taking the nine-month FY24 dividends to ₹40.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Meta, IBM create open source AI alliance with over 40 companies for responsible development

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Meta Platforms and IBM are joining more than 40 companies and organisations to create an industry group dedicated to open source artificial intelligence work, aiming to share technology and reduce risks.

The coalition, called the AI Alliance, will focus on the responsible development of AI technology, including safety and security tools, according to a statement Tuesday. The group also will look to increase the number of open source AI models — rather than the proprietary systems favoured by some companies — develop new hardware and team up with academic researchers.

Proponents of open source AI technology, which is made public by developers for others to use, see the approach as a more efficient way to cultivate the highly complex systems. Over the past few months, Meta has been releasing open source versions of its large language models, which are the foundation of AI chatbots.

“We believe it’s better when AI is developed openly — more people can access the benefits, build innovative products and work on safety,” Nick Clegg, Meta’s president of global affairs, said in the statement.

The group will eventually establish a governing board and technical oversight committee. Participants include Oracle Corp, Advanced Micro Devices Inc (AMD), Intel Corp and Stability AI, as well as academic and research organisations like the University of Notre Dame and the Mass Open Cloud Alliance.

The recent chaos at ChatGPT-creator OpenAI, which fired and rehired its well-known chief executive officer, has intensified a global debate about how transparent companies should be in developing powerful AI technology. OpenAI wasn’t listed as an AI Alliance participant.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IBM launches a $500 million venture fund for enterprise AI innovation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tech giant IBM on Wednesday (November 8) announced a $500 million venture fund to invest in a range of AI companies — from early-stage to hyper-growth startups — that focus on accelerating generative AI technology and research for the enterprise sector.

“Led by a dedicated team at IBM with decades of combined experience as highly successful investors and enterprise AI experts, the fund will provide each startup with opportunities to develop meaningful partnerships with IBM, while gaining operational expertise on product and engineering and go-to-market strategies,” the company said in a statement.

IBM is renowned for delivering proven enterprise AI technology to organisations worldwide. This fund’s launch is expected to expand IBM’s AI partnership network, fostering innovation in collaboration with companies leveraging its AI and data platform, WatsonX, and creating enduring value for AI leaders and clients.

In August, IBM participated in the $235 million Series D funding round of Hugging Face, a leading open-source collaboration platform for the machine learning community. IBM’s contributions to Hugging Face reportedly included hundreds of open models and datasets, including the Geospatial Foundation Model, a groundbreaking open-source AI model developed in collaboration with NASA.

Clem Delangue, CEO of Hugging Face, praised the collaboration, stating, “I am convinced that they’ll be able to accelerate their impact on AI with the IBM Enterprise AI Venture Fund.”

IBM’s dedication to AI security was highlighted through its participation in HiddenLayer’s Series A funding round, the largest Series A funding raised by a cybersecurity company focused on protecting AI this year.

Chris Sestito, CEO and Co-founder of HiddenLayer, acknowledged IBM’s contribution, saying, “Our partnership will help us bring our AI threat detection capabilities to the most cutting-edge companies in the world.”

IBM’s latest announcement builds on the momentum and market adoption of its AI and data platform, WatsonX. The company’s strategy is focused on leveraging both third-party and in-house AI models to accelerate open innovation in AI. This includes the recent general availability of the first models in the WatsonX Granite model series, aimed at advancing generative AI in business applications and workflows.

IBM has also confirmed that standard contractual intellectual property protections for IBM products will apply to IBM-developed WatsonX AI models. Additionally, the company announced plans to host Meta’s Llama 2-chat 70 billion parameter model within WatsonX, furthering its commitment to open innovation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IBM unveils AI-powered watsonx Code Assistant for streamlined enterprise development

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Tech giant IBM on Thursday announced the launch of watsonx Code Assistant, a generative AI-powered assistant designed to help enterprise coding through natural language prompts. The product is said to cater to two specific enterprise use cases: IT Automation with watsonx Code Assistant for Red Hat Ansible Lightspeed and mainframe application modernisation with watsonx Code Assistant for Z.

IT Automation with watsonx Code Assistant for Red Hat Ansible Lightspeed: This feature, as per IBM, enables users to create Ansible Playbooks for tasks such as network configuration and code deployment using natural language prompts. The company shared that during the technical preview, it achieved an 85% acceptance rate of AI-generated content recommendations, leading to productivity gains of 20–45%.

Mainframe Application Modernisation with watsonx Code Assistant for Z: This application is said to accelerate the translation of COBOL to Java on IBM Z, aiding businesses in their application modernisation journey while harnessing IBM Z’s performance, security, and resiliency. The product follows a structured application modernisation lifecycle, from application discovery to generating object-oriented Java code.

According to a recent IDC report, “Because it relies on a model trained on curated data, watsonx Code Assistant can help enterprises improve code quality by propagating best practices through code recommendations, instead of polluting enterprise code bases with code generated by models trained on unvetted repositories.”

“With this launch, watsonx Code Assistant joins watsonx Orchestrate and watsonx Assistant in IBM’s growing line of watsonx assistants that provide enterprises with tangible ways to implement generative AI,” said Kareem Yusuf, Ph.D, Senior Vice President, Product Management and Growth, IBM Software. He added that watsonx Code Assistant provides AI-assisted code development and application modernisation tools directly to developers in a non-disruptive manner, addressing skills gaps and increasing productivity.

“There is a significant need for the developer productivity gains that generative AI can bring to transform applications on the mainframe,” said Keshav Varma, ISU Head, Technology, Software and Services Business Unit, TCS. “While watsonx Code Assistant for Z has only just become available, we have several clients that have already requested that we create proofs of concept for them. With decades of enterprise experience from both our companies, we look forward to building on our deep partnership with IBM using watsonx.”

As technology evolves, the introduction of IBM’s watsonx Code Assistant promises to usher in a new era of coding efficiency, fostering innovation and growth in the enterprise development sector.

Also Read: Microsoft surges ahead of Alphabet in cloud race with OpenAI bet, enterprise focus

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Storyboard18 | A dynamic dialogue with Publicis Groupe, GroupM and IBM

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Publicis Groupe India, a leading global advertising and communications conglomerate, recently set the stage for the future by hosting the ‘Hack to The Future’ AI Hackathon. The event aimed to tap into cutting-edge creativity, foster innovation, and explore new ideas, all with a focus on artificial intelligence. The result? A flood of over 134 groundbreaking ideas from various teams within the organization.

This ambitious endeavour was designed to demonstrate Publicis Groupe’s commitment to advancing the agency’s future through AI technology and innovation. With AI becoming an integral part of the marketing and advertising landscape, the event showcased the group’s dedication to staying at the forefront of industry advancements.

Anupriya Acharya, CEO of Publicis Group, South Asia, shared insights into the organization’s AI strategy, futuristic tech developments, and the group’s expectations for the upcoming festival season during an exclusive interview with CNBC-TV18. Acharya also shed light on the ongoing consolidation within the advertising agencies, providing a comprehensive view of the industry’s trajectory.

Also Read | Storyboard18 | In conversation with Publicis Groupe on limitless potential of AI in advertising

In a parallel development, WPP’s media investment arm, GroupM, orchestrated the 2023 edition of the ‘Brew’ event, an annual gathering that explores the latest trends and insights in the advertising industry. The event featured an array of panel discussions featuring industry experts and brand specialists. Discussions delved into the profound impact of artificial intelligence and its creative applications in shaping the future of advertising.

The event covered a broad spectrum of topics, including the remarkable growth of the Indian sports industry, the evolving landscape of e-sports, understanding the trends of Generation Z and Generation Alpha to help brands better cater to these demographics, accountability in influencer marketing, and the exciting future of virtual and augmented reality.

Furthermore, attendees explored strategies for reaching and engaging with rural India’s diverse consumer base and gained valuable insights into the future of the mainstream entertainment industry.

Jonathan H Adashek, Senior Vice President of Marketing and Communications at IBM, shared his perspectives during a conversation with CNBC-TV18’s Pavitra Parekh. He touched on the key trends in marketing and their impact on businesses in India, highlighting the transformative influence of AI on marketing functions.

Also Read | Storyboard18 YoungGuns | Future of advertising lies in the confluence of tech & humanity, says Piyush Pandey

To delve deeper into this captivating event and gain a broader understanding of the visionaries shaping the future of the industry, be sure to watch the accompanying video titled “Storyboard18’s Visionaries.” This illuminating content promises to provide further insights into the innovative and transformative strides that lie ahead in the realm of marketing, advertising, and artificial intelligence.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow