Latest news with #IBM
Hans India
5 hours ago
- Business
- Hans India
Amaravati to have Quantum Valley Park
The Andhra Pradesh IT Department has officially confirmed the establishment of Quantum Valley Park in Amaravati, following the ratification of the Quantum Valley Technology Park Memorandum of Understanding (MoU). The state government has entered into agreements with three prominent companies—Tata Consultancy Services (TCS), Larsen & Toubro (L&T), and IBM—to spearhead the construction of this ambitious project. As part of its contribution, IBM plans to install a 156-qubit Quantum System-2 at the Quantum Park, heralding a new era in quantum computing capabilities. TCS will focus on delivering quantum computing services, innovative solutions, and hybrid computing strategies, alongside essential quantum research initiatives. Meanwhile, L&T will apply its engineering expertise to effectively manage client networks and support emerging startups within the park. The Quantum Valley Technology Park is anticipated to be completed by January 1, 2026, marking a significant milestone in the region's technological landscape.
Business Insider
9 hours ago
- Business
- Business Insider
Lockheed Martin (LMT) and IBM Show the Real-World Potential of Quantum Computing
Aerospace company Lockheed Martin (LMT) and tech firm IBM (IBM) recently used a new quantum method called sample-based quantum diagonalization (SQD) to simulate the molecule methylene (CH₂), making it the first time SQD has been used on an open-shell molecule. This is a big step forward because SQD could give quantum computers an advantage over classical computers for solving tough chemistry problems, especially those involving complex electron behavior that traditional methods struggle to handle. Confident Investing Starts Here: In their study, the scientists modeled the singlet and triplet electronic states of CH₂, which is important in things like combustion and atmospheric science. They ran the simulations on IBM's 52-qubit quantum processor by using a hybrid setup that combines quantum and classical computing, and each test used up to 3,000 two-qubit gates. Interestingly, the SQD results were very accurate and closely matched what was expected from classical benchmarks known as Selected Configuration Interaction (SCI), especially in measuring bond energies and energy gaps between states. It is worth noting that open-shell molecules like CH₂ are hard to study with classical computers because their unpaired electrons lead to complex interactions that require a lot of computing power. The SQD method helps by avoiding the need to fully rebuild the molecule's wavefunction. Instead, it samples key values and uses quantum properties like electron entanglement to simplify the work. This successful test shows that quantum computing can be used for real chemical problems and could lead to better models for combustion reactions, chemical sensors, and new aerospace materials. What Is the Target Price for IBM? Turning to Wall Street, analysts have a Moderate Buy consensus rating on IBM stock based on eight Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average IBM price target of $260.62 per share implies 0.9% upside potential.
Hans India
11 hours ago
- Business
- Hans India
Naidu unveils vision to make AP $2.4-tn economy by 2047
New Delhi: Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday unveiled a bold development agenda to transform Andhra Pradesh into a $2.4-trillion economy by 2047. Addressing the Special Plenary Session of industry body CII's Annual Business Summit 2025 here, he invited industry leaders to participate in the Swarna Andhra Vision 2047 and called for deeper collaboration in innovation, infrastructure, and inclusive growth. As part of the vision, the government aims to sustain over 15 per cent annual GDP growth and achieve a per capita income of $42,000-positioning Andhra Pradesh as one of the most prosperous and inclusive states in India. Naidu said entrepreneurs generate wealth, and with it, we can implement impactful welfare programmes. During the years when the CII Partnership Summit was held in Hyderabad, it brought immense visibility and investment, he added. 'Now, I seek your support to bring investment to Andhra Pradesh so we can continue creating wealth. We are at a truly inspiring moment in time', the Chief Minister said. Reflecting on his decades-long association with CII, Naidu noted, 'For over three decades, you've understood and engaged with my vision. In the mid-1990s, when CII was still finding its footing, I was warned that associating with industrialists or international forums like Davos might harm my political prospects. Yet, I persisted- attending Davos regularly since 1995 - because I believed in economic development through collaboration'. The Chief Minister said his government would set up a global leadership centre in Amaravati to prepare leaders for tomorrow, on the lines of Davos in Switzerland. "We want to set up a global leadership centre in Amaravati to prepare global leaders for tomorrow. We are all going to Davos to learn, network, meet people, exchange ideas. Now, this is the place I want to make it," he said. Naidu said companies like TCS, IBM and L&T would be setting up quantum computing centres in Amaravati, the new Greenfield capital. He said Andhra Pradesh is well-positioned for industries producing green energy. Naidu said his state has good solar and wind energy potential, along with pumped storage, green ammonia and nitrogen. It also has ports. "Some states have solar, some have wind, but all put together, Andhra Pradesh is the number one state for green energy and downstream industries," he said. Inviting industries to set up facilities in the state, Naidu said, "I will give you all the facilities. I am planning big." He said out of India's target to achieve 500 gigawatts of installed electricity capacity for non-fossil-based energy sources, 160 GW will come from Andhra Pradesh. Naidu highlighted India's evolution since the economic liberalization era under Prime Minister PV Narasimha Rao, noting that nearly 30 per cent of top global Indian achievers are of Telugu origin. He underlined the importance of technological advancements - ranging from AI to quantum computing—and stressed the potential of real-time data and innovation to position India as a global leader. 'We are fortunate to have Prime Minister Narendra Modi at the helm during this critical phase. Today, we are the fourth-largest economy. As India ascends to become the world's third-largest economy, the real competition begins - with the USA and China. The Indian industry must prepare for this next phase,' he urged.
CTV News
17 hours ago
- Business
- CTV News
The consortium had an ‘appetite' for SAAQ money, witness tells Gallant commission
A security agent strolls through the room where the Gallant hearing on the SAAQclic fiasco investigation is taking place. (Christinne Muschi/The Canadian Press) The consortium of firms behind the development of the SAAQclic platform 'was hungry and wanted to be well fed by funds' from the Quebec auto insurance board (SAAQ). That is the conclusion reached by Jérôme Verreault, a former financial controller at the Crown corporation, regarding the actions of the alliance formed by suppliers LGS, IBM and SAP. Verreault testified on Thursday before the Gallant Commission, which is investigating the SAAQ's failed digital transition. In notes dating from 2018 and 2019 and submitted to the commission, the controller detected certain shortcomings and laxity in the documentation relating to the alliance's invoicing. He made observations that, in his view, show the alliance's 'appetite for money.' In particular, he noted the failure to comply with a clause in the contract providing for a 10 per cent deduction on the fees claimed by external firms. In its invoices, the consortium did not include these deductions, which were nevertheless applied by the SAAQ's IT project office, Verreault pointed out. This clause was used to withhold a certain amount in the event of dissatisfaction with the project. 'This fact allowed me to see that the alliance was hungry and wanted to be very well fed by the funds of the Société de l'assurance automobile,' Verreault told commissioner Gallant. He also cited a clause regarding the availability of external resources to resolve anomalies during the testing and deployment phases. A remuneration of $100 per 'availability slot' was provided for. Verreault emphasized that the alliance was responsible for delivering a solution that worked. The clause, therefore, meant having to pay suppliers a second time in the event of problems, he said. 'My plumber came, he didn't do the job, I call him back and he charges me again by the hour,' Gallant illustrated. Verreault said he never found any document mentioning or approving this rate by the alliance or the Crown corporation. He also criticized the SAAQ for failing to verify compliance with the contract and the accuracy of the invoicing. Risk-sharing clause As revealed by a former internal auditor last week, the hourly rate for certain resources rose from $82 to $350 per hour. Verrreault concluded that this change affected 26 consultants and could result in additional costs of $14 million annually. To date, the reasons for this increase in the hourly rate remain 'unclear' to Verreault. The tasks or expertise of these resources were the same, he said. In Verreault's view, it was clear that the alliance would not work at no cost, contrary to what the SAAQ management might have suggested, brandishing the 'risk sharing' clause initially included in the contract. 'The risk-sharing clause was not Voldemort. It was common knowledge. It was practically written on the walls at the Société d'assurance automobile,' said Verreault. It should be noted that the SAAQ's technological modernization project, known as CASA, could cost at least $1.1 billion by 2027, which is $500 million more than expected, according to the Auditor General (AG). Verreault was in office when the first phase of the CASA project was launched. It targeted the SAAQ's financial and human resources. The controller described the start of this delivery as a 'disaster.' Several problems arose and ended up annoying him. 'Sometimes, I didn't have kind words, which exasperated my colleagues. Sometimes I told them it was a bloody mess,' he said. Verreault left the Crown corporation a few months after the first delivery began. He explained that his departure was due, in particular, to senior management's attitude towards his work. 'My notes were not taken seriously. (...) My role was precisely to help the company prevent (problems). But it was like a monkey: I don't want to hear anything, I don't want to see anything, I don't want to say anything,' lamented Verreault. 'Appearance of favouritism' On Thursday afternoon, an SAAQ executive came to talk about part of the tendering process. Nicolas Vincent explained the various steps leading up to the selection of the consortium in 2017. He acted as compliance coordinator for the 21 advisory committees, whose purpose was to advise the selection committee on specific aspects of the bids received. His testimony highlighted that there was 'an appearance of favouritism' among some members of the advisory committees and 'a perception of favouritism towards one alliance' at a stage when three consortia were still in the running, according to a report from an advisory committee presented to the commission. This seemed to 'lean toward' the SAP publisher, which belonged to two alliances at the time, Vincent said. 'There was a perception that some of those who had prepared the call for tenders were really favouring a SAP solution,' he added. Some of these external consultants had led a project with an SAP solution at Hydro-Québec with Karl Malenfant, the SAAQ's vice-president of information technology at the time, Vincent pointed out. While the selection committee remains independent, its thinking could be influenced by the notes from the advisory committees, Vincent said. Publication ban Earlier on Thursday, computer scientist Vincent Poirier, former auditor of the SAAQ, continued his testimony. He was called upon to comment on an information security audit report he produced in June 2023. However, the content of the report and Poirier's comments are subject to a publication ban for the next few days. It covers 'any technical information or data identifying the cybersecurity and data protection architecture.' According to the SAAQ, 'at this stage, the publication ban is necessary to ensure that information that could jeopardize the security and protection of Quebecers' data is not made public,' the order states. This report by The Canadian Press was first published in French on May 30, 2025.
Axios
19 hours ago
- Automotive
- Axios
IBM puts AI in the driver's seat with Scuderia Ferrari
In racing, every millisecond counts. Cars reach top speeds of over 210 mph, generating over 1 million data points per second. It's not just about speed — it's about precision, timing and insight. But until now, fans could only grasp a fraction of the complexity. That's changed with the Scuderia Ferrari app, reimagined in partnership with IBM and powered by IBM watsonx. The result is a new kind of experience — not just a second screen, but an AI-powered platform that's redefining fan engagement and showcasing enterprise AI in a new context. The challenge: Scuderia Ferrari wanted a digital experience that engaged fans and lived up to the legendary Ferrari brand — and saw an opportunity to elevate its existing platform. "The value proposition we were delivering was just content," said Stefano Pallard, Scuderia Ferrari HP's head of fan development. "And my challenge was turning an editorial product into an interactive and much more personalized product." With a global fan base of nearly 400 million, Scuderia Ferrari HP needed a platform that could engage at scale and evolve with the sport. Enter IBM. The solution: The new Scuderia Ferrari app debuted in early May, ahead of the race in Miami. It looks sleek and modern — but the real story is under the hood. With help from IBM Consulting, Scuderia Ferrari HP redesigned the experience. The architecture was streamlined. The user interface was simplified. And most importantly, AI was embedded using watsonx, IBM's enterprise-grade AI and data platform. "The data is worthless if you don't use it," said Jonathan Adashek, IBM's SVP of Marketing and Communications. "AI's the way to do that." How it works: The app brings fans into the heart of the race with: AI-generated summaries of each race. Visualized telemetry from Scuderia Ferrari HP's own performance data. Historical insights that put the action into context. Interactive features like fan polls. Full Italian-language content and support for the first time. That last point wasn't just a detail for Ferrari — it was part of the brand's commitment to better engage with its global fan base. "We wanted to deliver that strong connection with fans all over the world," said Pallard. The strategy: Behind the scenes, a hybrid cloud infrastructure powers the entire experience. And watsonx drives the production of everything from code to content. manages AI models that generate race summaries and fan-facing content. prepares and curates Scuderia Ferrari's massive datasets — from car telemetry to historical information. watsonx Code Assistant™ increases the speed and accuracy of the team's software development. It's a full-stack application of IBM's hybrid cloud and AI tools — a practical case study for what AI can do when tightly integrated into operations, product and user experience. The impact: The app isn't just for fans. It's also helping Scuderia Ferrari HP's content team do more with less. "IBM AI is helping us deliver more content and more value, faster to our fans," said Pallard. This kind of internal efficiency is key for modern brands operating at global scale. Scuderia Ferrari HP now has a tool that can automate workflows, scale content creation, and still maintain brand fidelity in everything it publishes. What this means:"When we partner with somebody like Scuderia Ferrari HP, we're using their data to create this model so it responds like Scuderia Ferrari HP," said Adashek. "That allows us to show our clients and prospective clients how they could do that same thing." The opportunity: IBM's own research shows that less than 1% of enterprise data is currently used in AI models. That means 99% of what companies know sits idle. With the Scuderia Ferrari app, IBM created an example others can follow — one that shows how proprietary, private data can be effectively deployed using hybrid cloud infrastructure and a purpose-built AI stack. What's next: As the 2025 season unfolds, Scuderia Ferrari HP and IBM plan to introduce even more features, including: The takeaway: For tech leaders, this isn't just a fun use case. It's a blueprint. The AI-powered Scuderia Ferrari app shows how enterprise data can be activated, refined and delivered through user experiences that are immediate, scalable and high-value — all while reducing internal workload. That's the future of digital products — and the future of AI. Experience it for yourself.
