Stock Report

LTIMindtree Joins Forces with IBM to Advance the Quantum Innovation Ecosystem

Posted On : 2024-02-28 15:20:03( TIMEZONE : IST )

LTIMindtree Joins Forces with IBM to Advance the Quantum Innovation Ecosystem

LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced that it has joined the IBM Quantum Network to explore quantum computing innovation for the benefit of its global clientele across multiple industries. LTIMindtree is the first Indian Global System Integrator (GSI) to join the IBM Quantum Network.

LTIMindtree will also collaborate with the Indian Institute of Technology (IIT) Madras, which is also an IBM Quantum Innovation Center, on joint quantum research and workforce development.

Scott Crowder, Vice President of IBM Quantum Adoption and Business Development, said, "We are excited to welcome LTIMindtree into the IBM Quantum Network and to help them explore the benefits of quantum computing, both for their internal teams and in solutions for their clients. We are also looking forward to providing technology support for LTIMindtree's joint research and educational engagements with IIT-Madras, our first IBM Quantum Innovation Center in India."

As part of the IBM Quantum Network, LTIMindtree expands on its platinum partner status with IBM and joins a global community of Fortune 500 companies, top universities, research labs, and startups. LTIMindtree will have access to IBM resources, including IBM's global fleet of quantum computing systems over the cloud, software, and associated expertise. This move is a strategic step toward LTIMindtree helping their customers benefit from the transformative value of quantum computing technologies.

Aan Chauhan, Chief Technology Officer, LTIMindtree, said, "We are thrilled to embark on this journey with IBM and IIT Madras, India. These collaborations are more than an innovation milestone; they're an important step towards a future where quantum computing could help solve more complex problems faster and more efficiently. Importantly, it positions us to expedite our customers' journey towards realizing the immense value of quantum computing, readying them to leverage these advanced technologies for transformative solutions."

Looking ahead, LTIMindtree's plans across these collaborations are to establish a series of long-term projects, including applied research toward business and societal problems, quantum computing workshops, and research grants. These initiatives aim to nurture a new generation of quantum computing professionals and researchers at LTIMindtree, creating a sustainable and innovative ecosystem.

Shares of LTIMindtree Limited was last trading in BSE at Rs. 5442.60 as compared to the previous close of Rs. 5466.05. The total number of shares traded during the day was 21129 in over 2504 trades.

The stock hit an intraday high of Rs. 5509.70 and intraday low of 5402.05. The net turnover during the day was Rs. 114760686.00.

Source : Equity Bulls


LTIMindtree INE214T01019 IBMQuantumNetwork QuantumComputingInnovation