IBM unveils GenAI assistant for coding
Here is your daily dose of key developments from the technology world of India.
IBM launches generative AI assistant for coding
IBM has launched watsonx Code Assistant, a generative AI-powered assistant that helps enterprise developers and IT operators code more quickly and more accurately using natural language prompts.
The product currently delivers on two specific enterprise use cases. First, IT Automation with watsonx Code Assistant for Red Hat Ansible Lightspeed, for tasks such as network configuration and code deployment. Second, mainframe application modernization with watsonx Code Assistant for Z, for translation of COBOL to Java on IBM Z.
Designed to accelerate development while maintaining the principles of trust, security, and compliance, the product leverages generative AI based on IBM's Granite foundation models for code running on IBM's watsonx platform. IBM is exploring opportunities to tune watsonx Code Assistant with additional domain-specific generative AI capabilities to assist in code generation, code explanation, and the full end-to-end software development lifecycle to continue to drive enterprise application modernisation.
Infosys bags deal from smart Europe GmbH
has signed a five-year collaboration with automotive marquee smart Europe GmbH to refine its direct-to-customer (D2C) business model in Europe and provide enhanced customer experience, data-driven personalization and engagement. Through this strategic collaboration, Infosys aims to help smart Europe GmbH redefine the online EV buying experience and apply state-of-the-art Machine Learning (ML) models to accurately forecast sales and aftersales demand.
Infosys was chosen to assist the premium EV maker in this transformation for its deep expertise in enabling consolidation across automotive sales and e-commerce processes and systems. To enable smart Europe GmbH to derive exceptional value from software, data, and cloud investments, Infosys will leverage its trusted process, functional and technical expertise, complemented by a design thinking-led consulting approach. Infosys will also help smart Europe GmbH to efficiently sell electric vehicles across 15 European countries with a D2C sales approach and secure engagement across lead generation, prospect conversion, sales and aftersales channels, supplemented by end-to-end ownership and accountability.
JLR India closely monitoring the demand for battery electric vehicles: MD Rajan Amba
US proposes new rules for H-1B visa programme
The US Department of Homeland Security released a Proposed Rule intended to modernise, improve, and increase flexibility in the H-1B visa programme. The Proposed Rule is currently open for a 60-day comment period. NASSCOM will be making a formal submission and has already begun a thorough industry assessment of the Proposed Rule.
Preliminarily, NASSCOM notes that sections of the Proposed Rule align with the former administration’s unsuccessful attempts to limit the H-1B program in a manner that raises concerns for the IT industry. For example, the proposed tightening of the definition and requirements for H-1B “specialty occupations” narrows the scope of applicants who will qualify for an H-1B visa and ignores the nature of our modern workforce, not found in the Immigration and Nationality Act (INA).
This and other hurdles in the Proposed Rule create difficulties for companies attempting to hire the necessary skilled workers to fill key, and currently unfilled, jobs across STEM fields. NASSCOM will submit detailed comments to address our concerns and hopes that the government will align the Proposed Rule with its overall goal to boost the US economy by meeting U.S. employers’ STEM hiring needs.
At the same time, NASSCOM has applauded several welcome changes found in the Proposed Rule that reaffirm the Biden Administration’s recognition of the substantial gap in supply and demand for skilled workers. Many of these changes will streamline the H-1B process and ease the burden on employers and potential beneficiaries as they navigate the lottery and application processes.
Aurionpro Solutions reports 36% rise in net profit
, a technology company focused on the banking industry, has registered a 36% year-on-year rise in net profit of Rs 34 crore for the second quarter of FY24. The revenue during this period stood at Rs 211 crore which was a 37% YoY rise. The EBITDA during the second quarter stood at Rs 46 crore which was a 32% YoY rise and margins stood at 21.82%.
Meanwhile, the company has announced the elevation of Ashish Rai to Chief Executive Officer. In his previous role, Ashish served as Vice Chairman and Director of the company, where he spearheaded the global expansion of Aurionpro Solutions’ IP-led products and solutions.
Edited by Kanishk Singh
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