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The year 2024 is for scaling up GenAI pilots: IBM Consulting's Matthew Candy

Livemint

Livemint · 1y ago

The year 2024 is for scaling up GenAI pilots: IBM Consulting's Matthew Candy

IBM Consulting is focusing on three main areas for the application of Generative AI (GenAI): customer care and experience, digital labor in HR and talent acquisition, and application modernization. The company aims to leverage GenAI to improve call handling times, reduce content creation costs, and enhance supply chain efficiency. IBM emphasizes the importance of responsible implementation of AI and advises organizations to establish appropriate AI models and data foundations to address bias. The key to scaling up GenAI projects lies in having a clear strategy aligned with business value, a multi-cloud approach, and the availability of necessary skills within the organization.

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Thanks to AI, you don't need a computer science degree to get a job in tech, IBM AI chief says

Business Insider

Business Insider · 1y ago

Thanks to AI, you don't need a computer science degree to get a job in tech, IBM AI chief says

According to IBM's AI chief, a computer science degree may no longer be required to land a job in tech. IBM's global managing partner for generative AI, Matthew Candy, stated that AI would accelerate the process of idea generation and product development, making it easier for individuals without technical skills. Soft skills like critical thinking and creativity would become more valuable in the age of AI. Candy also mentioned that AI advancements could impact the arts by enabling individuals to take on design roles without traditional qualifications.

Lessons for Indian IT services firms as Accenture, IBM lead GenAI charge

Livemint

Livemint · 1y ago

Lessons for Indian IT services firms as Accenture, IBM lead GenAI charge

IBM is experiencing a turnaround as it gains more clients for its generative artificial intelligence (GenAI) services. The company's GenAI bookings stood at over $2 billion as of July, while Accenture reported $3 billion in GenAI bookings for the period 2023-24. The growth in consulting business has contributed to the success of both IBM and Accenture, which outpaces Indian IT services companies. Indian IT firms have not reported revenue from consulting or AI practices and have faced challenges with lower client spending on IT services. GenAI revenues are expected to flow from consulting before expanding to other IT segments.

90% of CEOs want to invest in GenAI but 70% don't know how: Aarav Singhal of BCG

Livemint

Livemint · 1y ago

90% of CEOs want to invest in GenAI but 70% don't know how: Aarav Singhal of BCG

The majority of CEOs are eager to invest in generative AI (GenAI), but are unsure about how to proceed, according to Aarav Singhal, managing director and partner at Boston Consulting Group. Singhal stated that while 90% of CEOs see GenAI as a priority for 2024, 70% of them feel they are not doing enough. Singhal emphasized the need to focus on scaling and solving key challenges, and highlighted the three ways GenAI can deliver value: increasing productivity, reimagining processes, and transforming business operations. He advised businesses to emphasize the transformation of people and operations, rather than solely focusing on technology.

IBM Signs MoU To Deploy AI Cluster At GIFT City

Inc42 · 1y ago

IBM Signs MoU To Deploy AI Cluster At GIFT City

IBM is set to launch an AI cluster in GIFT City, India, to drive innovation and collaboration in the financial industry. The cluster will utilize IBM's GenAI platform, watsonx, to provide financial institutions with support in areas such as proof of concept and access to AI Sandbox, AI literacy programs, and digital assistant solutions. In recent years, Indian GenAI startups have raised over $600 million in funding.

Google's and Microsoft's chatbots are making up Super Bowl stats

Startup News FYI

Startup News FYI · 1y ago

Google's and Microsoft's chatbots are making up Super Bowl stats

Google's Gemini chatbot, powered by GenAI models, mistakenly believes that the 2024 Super Bowl has already taken place, providing fictional statistics to back up its claims. Microsoft's Copilot chatbot also makes the same mistake, incorrectly stating that the San Francisco 49ers won with a final score of 24-21. These errors highlight the limitations of current GenAI models, which lack real intelligence and rely on pattern recognition rather than true understanding. While the Super Bowl example is relatively harmless, it underscores the importance of verifying information provided by GenAI bots.

Now, Xiaomi Planning To Integrate GenAI To Its Smartphone In India

Inc42 · 1y ago

Now, Xiaomi Planning To Integrate GenAI To Its Smartphone In India

Xiaomi plans to introduce GenAI user applications in its smartphones in India by the end of the financial year 2024-2025. The company's focus will be on its upper-mid range smartphones priced around INR 40K. Xiaomi recently launched the Xiaomi 14T and 14T Pro smartphones, which feature Google's Gemini suite of GenAI features.

Global GenAI spending to reach $644B in 2025: Gartner

YourStory

YourStory · 7m ago

Global GenAI spending to reach $644B in 2025: Gartner

Global spending on generative AI (GenAI) is projected to reach $644 billion in 2025, up 76.4% from 2024, despite declining expectations due to high failure rates and dissatisfaction with current results. Nonetheless, foundational model providers continue investing billions to improve GenAI's size, performance, and reliability. Device-related GenAI spending will see the most significant increase, nearly doubling, while software and services spending will also experience substantial growth. Most spending will target hardware as AI becomes integral to devices.

LTIMindtree, IBM Join Hands To Build GenAI Centre For India

Inc42 · 1y ago

LTIMindtree, IBM Join Hands To Build GenAI Centre For India

Technology consulting and digital solutions company LTIMindtree has partnered with IBM to establish a joint Generative AI Centre of Excellence in India. The centre aims to provide a comprehensive range of services by combining LTIMindtree's expertise in data, machine learning customisation, and engineering with IBM's WatsonX technology suite. It will focus on developing tailored solutions to accelerate the adoption of GenAI technologies for clients. The collaboration will offer services such as WatsonX.Governance for regulatory compliance, WatsonX.Data for enhanced data warehouse capabilities, and WatsonX.AI for training and deploying AI models. IBM has been actively promoting AI adoption in India and has collaborated with the Ministry of Electronics and Information Technology.

IBM announces job cuts in marketing and communications division, says report

Livemint

Livemint · 1y ago

IBM announces job cuts in marketing and communications division, says report

IBM has reportedly announced layoffs in its marketing and communications division, according to CNBC. No specific numbers have been provided yet. This follows IBM CEO Arvind Krishna's previous statement that the company plans to halt hiring for roles that could be replaced by AI in the coming years. IBM is joining the growing list of tech companies that have announced job cuts this year, with a total of 204 companies impacting almost 50,000 employees. In 2020, IBM reduced its workforce by about 3,900 jobs.

Too small or too soon? Sonata, Happiest Minds segregate AI biz revenue

Livemint

Livemint · 3m ago

Too small or too soon? Sonata, Happiest Minds segregate AI biz revenue

Sonata Software anticipates AI to constitute 20% of its revenue within three years, while Happiest Minds is experiencing significant growth in its GenAI division. Despite global IT leaders like Accenture and IBM disclosing AI-related revenues, India's major IT firms remain reticent. As these smaller companies project AI growth, analysts debate the timeliness and relevance of such disclosures in shaping the future of AI in the IT industry.

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