IBM Financial News

Artificial intelligence (AI) and generative AI (GenAI) are advancing at an incredible pace, but we are unable to understand how they make decisions, so they are called ‘black boxes’. Researchers say they are now able to peek under the AI hood. Will this make AI models safer? AI algorithms, especially those involving complex machine learning (ML) models like deep neural networks, are modelled on the human brain.

Sriraman Parthasarathy, Partner, Deloitte India, says, “The role of CTrO involves overseeing trust-building initiatives by continuously assessing the trust levels within and outside the organisation. The trust framework chosen by the organisation would typically include several domains covering interalia corporate culture, employee satisfaction, compliance, digital, customer experience, etc. While trust building is a collective responsibility within the company, having a CTrO often makes one person directly accountable to the board, due to the critical and overarching nature of the role.” Shantanu Rooj, Founder and CEO, TeamLease Edtech, explains that the underlying reasoning for this designation is the rising importance of trust in today’s world. The pace of digital transformation, increasing polarisation of media, geopolitical uncertainty and increasing expectations of stakeholders make trust a top-of-mind issue for executives. As more business functions seek to demonstrate trust, the chief trust officer has emerged as a strategic leader to help build trust across the organisation and the surrounding ecosystems.

Mint Digital Innovation Summit 2024.“AI and Gen AI hyper-personalize the journey and offer significant value to the customer," he said, elaborating on how this fusion has revolutionized sectors, notably the automotive industry, where connected intelligent vehicles have become a standard, ensuring safer rides.Highlighting a significant shift in lead generation dynamics, he said: “While previously, 50-60% of leads originated from walk-ins at car dealerships, now, only 20% begin with physical visits." Highlighting the impact of AI in product innovation, Kapoor cited the launch of the XUV700 three years ago. "It was almost the first car in its segment to feature layer level two autonomy, enabling the car to anticipate and react to potential hazards." Such advancements, powered by AI and vision technologies, have significantly enhanced both safety and driving experiences, he added.Kapoor elaborated on AI's diverse applications, including financial inclusion initiatives, and underscored Mahindra's dedication to responsible lending practices.

Casper Labs introduces Prove AI to enhance transparency and auditability for artificial intelligence training data using blockchain technology.

Emaar India announces a new project in a tier-2 city, the real estate developer’s chief HR officer Madhuri Mehta’s LinkedIn account gets flooded with messages from professionals looking for jobs back in their hometowns. “These people are a potential talent pool,” said Mehta, citing instances of professionals who want to move back home…from, say, Delhi to Mohali. She said Emaar is hiring actively in cities like Indore, Jaipur, Mohali and Lucknow, where they have projects. Job opportunities are growing across sectors in tier 2 and 3 cities, and professionals are eager to join, recruiters and firms said. Escalating living costs and infrastructural challenges in metros are prompting executives to move to smaller cities. Companies, on their part, are drawn by cheaper land costs, lower salaries and easy talent availability, besides rising disposable incomes in these cities.

One day, you might avoid a missed flight connection because of the weird ability of very small particles to act as though they are in two places at once. This bizarre behavior of the subatomic world is what allows so-called quantum computers to perform some calculations far, far faster than their conventional counterparts. It also could soon be helping smooth some problems in our daily lives.

Top Events of the Day: Prime Minister Narendra Modi is set to address key rallies in Uttar Pradesh, while IBM announces a significant job expansion in Ireland, adding 800 AI-related positions. Meanwhile, Vedanta considers raising funds through equity shares, and NEET PG 2024's correction window closes today. France declares a state of emergency in New Caledonia amid violent protests.

German businesses are increasingly experimenting with artificial intelligence to become more productive, but some caution the gains the technology promises could be years away. From automating processes to optimizing supply chains, German companies are resorting to AI tools for a growing range of functions. The technology is expected to make work more efficient by cutting repetitive tasks and freeing employees up for new, higher-value jobs.

Hero MotoCorp, Voltas, PB Fintech, LTIMindtree among others will be in focus due to various news developments and quarterly earnings. L&T, Tata Power, Canara Bank, Hero Moto, BSE Shares of L&T, Tata Power, Canara Bank, Hero Moto and BSE will be in focus today as the companies will announce their fourth quarter results.

The CEOs of leading U_S_ technology companies are joining a new artificial intelligence safety board to advise the federal government on how to protect the nation’s critical services from “AI-related disruptions.”

IBM, for an estimated value of about $1 billion (about '8,330 crore), people familiar with the matter said. The potential deal is crucial for Vi in its efforts to strengthen IT infrastructure ahead of the planned roll out of 5G services in the country's top 100 cities across its 17 priority markets. Launching 5G services will allow the cash-strapped telco to intensify its competition with bigger — and profitable — rivals Reliance Jio and Bharti Airtel in key markets and arrest customer losses. «Vi's new, re-negotiated deal with IBM is likely to be finalised soon as the earlier five-year tech outsourcing contract is valid till April 2024,» a person familiar with the discussions told ET.

Layoffs at Apple: Apple Inc was trying to develop microLED displays for the future models of Apple Watches internally. However, according to Bloomberg, the efforts were futile and because of it the tech giant re-organised its display engineering teams while laying off dozens of employees across Asia and United States. Layoffs at Dell: Dell had said that it is cutting its workforce as a part of broader cost-cutting measure.

“After we read reports of the water crisis in Bengaluru, we wrote to the IT companies offering them all facilities as well as plenty of water. We have 44 rivers, big and small, in our state, so water is not an issue at all,” Kerala Industries & Law Minister P Rajeeve told ET on Tuesday.

Salman Rushdie weighing in on AI's capability to write quality fiction is like Garry Kasparov sharing his views on the technology's ability to play chess — which the grandmaster did with fury after being beaten by IBM supercomputer Deep Blue in 1997: it wasn't the machine that was great, but he who had cracked under pressure. Rushdie's take this week in an article for a French literary journal was more measured, but equally derisive. Testing OpenAI's ChatGPT, the veritable writer described the LLM having 'no originality' and 'completely devoid of any sense of humour', a key yardstick of quality in 'serious' literature. While a Rushdie-ChatGPT contest is not the same as a Kasparov-Deep Blue one — no one wins or loses in something as subjective as literature — the writer is both right and wrong.

CNBC. Last year in May, the company's CEO Arvind Krishna had said that the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.

pharmaceutical market registered nearly 9% month-on-month growth in February, with all therapy areas doing well except the respiratory segment, which saw negative growth in terms of value and units, according to market research firm Pharmatrac. Cardiology and anti-infective were the top-two therapy areas, data from Pharmatrac showed. «If I were to look at the IBM therapy performance for the month, the industry has done really very well. It has shown a close to 9% growth,» said Sheetal Sapale, VP commercial, Pharmarack. «And if you look at all the therapy areas, all of them have shown robust growth, except the respiratory segment.»

high-performance computing (HPC) in India. “This collaboration is intended to spur and support the growth of India’s developer community, with a focus on processor design, system design, firmware, and application development, including contributions to open source initiatives,” IBM said in a statement.

generative artificial intelligence (AI) tools from Adobe has resulted in productivity improvements. IBM said it was using Adobe's tools, which can generate images from text-based prompts, to help with marketing campaigns. It is an early test of Adobe's strategy to create AI systems trained on its own proprietary data with legal guarantees against lawsuits, a strategy that Adobe hopes will lure in large businesses.

Edited excerpts: IBM Consulting comprises 160,000 people including 21,000 data scientists and AI professionals, and a generative AI CoE (centre of excellence) of over 1,000 people. We’re working in three big areas. One of them is customer care and customer experience—applying generative AI for contact centre agents to improve call handling times and deliver better customer experience.

HCL Unica.Unica, founded in 1992 by Yuchun Lee, initially acquired by IBM, and now proudly owned by HCLSoftware, stands as one of the most reliable end-to-end marketing solutions available today. It enables marketing automation across a wide range of both inbound and outbound marketing channels.

tax benefit is spurring US companies including PepsiCo Inc. and International Business Machines Corp. to sell bonds through their Singapore subsidiaries, fueling a record surge of sales from borrowers in the city state. The tactic can allow companies to deduct interest expense from their taxable income in both the US and Singapore. That double deduction means that effective borrowing costs — after taxes — can be materially lower than they would be with a bond issued in the US.