Business EconomyPosted at: Jul 11 2024 7:31PM


Avert dangers and ensure responsible GenAI: IBM’s Sr. VP Dinesh Nirmal

Kochi, July 11 (UNI) When almost half of the country’s CEOs are recruiting for GenAI positions in their companies, a broad awareness about the risks in Generative Artificial Intelligence is crucial to ensure responsible practices, IBM Senior Vice President (Software Development) Dinesh Nirmal said on Thursday.
Speaking at a two-day international conclave on GenAI here, Nirmal said a recent study by IBM Institute for Business Value and Oxford Economics estimated 49 per cent of Indian CEOs as navigating AI-led transformations within their organizations.
“By 2035, GenAI is projected to infuse no less than one trillion dollars into the Indian economy,” Shri Nirmal noted in his keynote address to the July 11-12 meet, organised by the Kerala State Industrial Development Corporation in association with IBM at Lulu Grand Hyatt’s International Convention Center on Bolgatty Island. The event, which is attended by 2,000 delegates in person, envisages imparting momentum to Kerala’s transformation into a knowledge economy.
Nirmal highlighted the role of data collection in the development, deployment and governance of GenAI. AI assistance is equally integral to the growth profile of GenAI in the years to come, he said.
Machinery too can perform cutting-edge software technologies, but GenAI makes the system much more productive and prompter, the IBM official noted at the session on
‘GenAI as the New Technology North Star and Driving Innovation with watsonx’.
“GenAI currently has 694,000 models. Yet only ten per cent of organizations around the world have launched GenAI solutions to production in the past year,” Nirmal said, quoting a study. Despite interest, a majority of organizations are not yet leveraging GenAI technology, according to the results of results of a 2023 ML Insider survey.
Substantiating the IBM official’s details on an “unprecedented momentum” created by the company’s GenAI platform ‘watsonx’ for enterprise, two senior executives of his company gave a demonstration of on how GenAI models can work to the benefit of companies. IBM’s Sudheesh Kairal (STSM, Master Inventor, Data & AI) and Rinu Thankachan (QA Engineer, watsonx Orchestrate) gave a power-point presentation on how GenAI can become part of the office culture.
This was followed by a roundtable moderated by Nirmal. The speakers were Comparus CEO Dmitri Gamarnik, S&P Global Market Intelligence Chief Data Officer Abhishek Tomar, Sevilla Football Club CTO Elias Zamora and Boston Consultancy Group MD Amit Kumar.
The two days of deliberations feature 17 sessions in total.
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