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.
UNI DS AKS
Please log in to get detailed story.
Tags: #Avert dangers and ensure responsible GenAI: IBM’s Sr. VP Dinesh Nirmal
More News
Biocon Biologics collaborates with National Cancer Society of Malaysia

Biocon Biologics collaborates with National Cancer Society of Malaysia

24 Jun 2025 | 6:35 PM

Mumbai, June 24 (UNI) Biocon Biologics Limited, a fully integrated global biosimilars company, on Tuesday said that it has partnered with the National Cancer Society of Malaysia (NCSM), a prominent not-for-profit cancer organization, to launch a Patient Assistance Program (PAP) in Malaysia aimed at improving access to affordable, high-quality biosimilars for underserved cancer patients in Malaysia.

see more..

Equitas Small Finance Bank partner with Edelweiss Life Insurance

24 Jun 2025 | 6:12 PM

Mumbai, June 24 (UNI) Equitas Small Finance Bank (SFB) on Tuesday said that it has partnered with Edelweiss Life Insurance.

see more..

UP ranks first in country on highest investment in development and infrastructure

24 Jun 2025 | 5:39 PM

Lucknow, June 24 (UNI) Uttar Pradesh has ranked first in the country for highest investment in development and infrastructure.

see more..

Kottayam-Kochi Rubber Market Rates

24 Jun 2025 | 5:16 PM

Kottayam, June 24 (UNI) Following were the Rubber Market rates announced by the Rubber
Board here on Tuesday per quintal
KOTTAYAM
RSS FOUR: 20050
RSS FIVE : 19750
ISNR TWENTY: 17700
SIXTY PERCENT LATEX: 14160
KOCHI
RSS FOUR : 20050
RSS FIVE : 19750
INTERNATIONAL RATES (BANGKOK)
RSS One : 19707
RSS Two : 19549
RSS Three: 19404
RSS Four : 19325
RSS Five : 19207
KUALALUMPUR
SMR TWENTY : 14354 ($165.35)
SIXTY PERCENT LATEX : 12149 ($139.95)
UNI PA BM.

see more..

Capacit'e Infraprojects receives LoI of Rs 621 Cr from Saifee Burhani Upliftment Trust

24 Jun 2025 | 5:14 PM

Mumbai, June 24 (UNI) Capacit'e Infraprojects Limited on Tuesday said that it has received Letter of Intent (LOI) from Saifee Burhani Upliftment Trust (SBUT), for a total contract value of Rs 621 Crore, excluding GST.

see more..