This follows a statement from IBM on the matter. File
| Photo Credit: Reuters

IBM will completely shutter its China R&D, resulting in layoffs affecting over 1,000 jobs, Chinese media outlet Yicai reported on Monday (August 26, 2024), citing a statement from the company.

IBM, the world’s biggest technology services company, did not immediately respond to a request for comment.

The decision comes amid the company’s struggles with falling demand for its hardware and challenges in growth markets like China.

New Delhi:

The Department of Science and Technology, Government of Gujarat signed a Memorandum of Understanding (MoU) on Saturday with the technology company IBM to establish and promote an AI Cluster leveraging IBM’s Watson to foster innovation and collaboration among financial institutions in Gujarat International Finance Tec (GIFT) City.

According to the MoU, financial institutions in GIFT City will gain access to AI Sandbox, assistance in providing proof of concept, AI Literacy programs, and Digital Assistant Solutions.

Speaking on the occasion, Gujarat Chief Minister Bhupendrabhai Patel, “This MoU with IBM will help Gujarat to lead the country in efforts to adopt AI and drive digital transformation.”

As part of this MoU, IBM will provide software technologies and platforms over a cloud environment enabling financial institutions to customize and fine-tune large language AI models in a sandbox environment. IBM will also aim to build a Digital assistant-based solution that facilitates the onboarding and integration of these customized large language models for financial institutions.

“Using AI for business is a strategic priority for enterprises today to gain competitive advantage through better productivity, innovation and customer experience,” said Sandip Patel, Managing Director, IBM India & South Asia.

He also added “This collaboration is a significant step in our continued association with the Government of Gujarat to accelerate the digital transformation of the state. By establishing this AI cluster, our aim is to make the latest AI solutions easily accessible to the vibrant and growing number of financial institutions in GIFT City.”

IBM also stated that it will develop an AI curriculum for schools and universities across Gujarat, which aligns with its commitment to skill 30 million people by 2030 and train 2 million learners in AI by the end of 2026.

“These MoUs are very detailed. We are also working to expedite the AI adoption in MSMEs. It is our effort to bring this futuristic technology to the people” said Mona Khandhar Principal Secretary of the Department of Science and Technology during the signing of MoU.

The collaboration also includes literacy programs and certifications for professionals in the state to enhance the skill sets of professionals, preparing the state’s talent for the AI-driven future economy.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

L-R: Sandip Patel (MD) IBM India & South Asia; Sanjay Joshi (CIO) Parle Products and Paul Burton (General Manager) IBM Asia Pacific announcing Parle’s expanded collaboration with IBM at IBM Think Mumbai 2023. Photo: IBM

IBM on September 12 announced the expansion of its collaboration with Parle Products, the biscuit brand in India, to further the company’s digital transformation journey.

By deploying cloud and Artificial Intelligence (AI) for business solutions through the course of engagement, Parle has been able to reduce sourcing cost, enhance sales forecast accuracy, lower cost to serve and optimize overall IT infrastructure, claimed the company.

Prior to embarking on the transformation journey, Parle was dealing with complexities in their intricate supply and distribution network because of non-differentiated strategies across products as well as channel and fulfilment approaches, as per IBM officials.

This resulted in service-level constraints and higher cost to serve. Since its association with IBM in 2014, Parle has been able to bring operational efficiencies by leveraging the cloud and AI capabilities of IBM Consulting, IBM officials further said.

Sanjay Joshi, CIO, Parle Products said,, “With IBM Consulting, we are poised to unlock newer avenues of growth and remain at the forefront of industry evolution.”

Kamal Singhani, Country Managing Partner, IBM Consulting – India/South Asia said, “Today, leveraging exponential technologies like cloud and AI are fundamental to every company’s competitiveness by transforming the way that they meet customer demands and operate their businesses. “

IBM has been helping Parle in the areas of various functions around it’s Procurement Transformation, Supply Chain Evolution and HR Transformation.