Latest news with #Kyndryl
Techday NZ
13 hours ago
- Business
- Techday NZ
Commvault & Kyndryl partner to boost cyber recovery services
Commvault and Kyndryl have announced a partnership to deliver incident recovery services for organisations aiming to enhance data security and meet regulatory requirements. The two companies will work in collaboration with Pure Storage to provide services intended to help organisations recover faster from cyber incidents, improve cyber resilience, and address complex regulatory demands. Kyndryl's cyber resiliency services portfolio includes Incident Recovery Services, Managed Backup Services, and Hybrid Platform Recovery. Through this new partnership, it will be supported by Commvault and Pure Storage to assist organisations in adhering to regulations such as the European Union's Digital Operational Resilience Act (DORA), NIS2 Directive, Payment Services Directive 2 (PSD2), New York Department of Financial Services (NYDFS) regulation NYCRR 500, and Australia's Prudential Regulation Authority (APRA) CPS 230 standard. Expanding cyber recovery services Under the collaboration, Commvault and Kyndryl plan to enhance support for enterprise customers facing persistent cyber threats and increasing data management complexity, particularly in multi-cloud environments. "Cyber preparedness is no longer regarded as optional for global organizations; it is mandatory," stated Allen Downs, Vice President of Security and Resiliency Services at Kyndryl. "Through this collaboration with Commvault and Pure Storage, we are further positioned to assist some of the world's most esteemed organizations in completely redefining their data protection strategies." The joint approach leverages Pure Storage technology alongside Commvault's cyber resilience and recovery solutions. This combined offering introduces a four-layer architecture designed to streamline compliance and speed up recovery for hybrid cloud customers. Technology and features The four-layered architecture includes the following components: Cyber Resilient Vault—an isolated, immutable data vault, based on zero-trust, to safeguard backup data from unauthorised access and tampering. Clean Recovery Zone—a controlled setting for forensic review and staged recovery using validated clean backups. Production Rapid Restore—capability for swift, reliable dataset restoration by using Pure Storage FlashBlade, with immutability features such as S3 Object Lock and SafeMode. Immutable Snapshot Recovery—enables quick, application-consistent restoration of key workloads through Commvault IntelliSnap and Pure Storage FlashArray. The services are developed to promote automated and ongoing cyber recovery testing. Support extends to Commvault Cleanroom Recovery within both public cloud and on-premises isolated environments overseen by Kyndryl. Organisations are enabled to validate their recovery processes to comply with DORA Chapter II (Risk Management), Chapter IV (Operational Resilience Testing), and related regulation. Meeting regulatory needs The collaboration is set against a backdrop of increasingly rigorous and complex regulatory landscapes. Organisations are now required to demonstrate not only the protection of their critical data, but also the capability to restore operations swiftly following a digital disruption. "Our partnership with Kyndryl is built to address the biggest challenges facing the enterprise today, such as the persistent threat of cyberattacks, including ransomware, and the increasing complexity of managing massive data growth across multi-cloud environments," said Alan Atkinson, Chief Partner Officer at Commvault. "When combined with the innovative Pure Storage platform, the three companies are together helping organizations stay resilient and prepared to act decisively in the face of disruption." As businesses face mounting pressures from both cyber threats and regulatory scrutiny, integrating compliance with resilience strategies is becoming increasingly necessary. "As regulatory frameworks like DORA set higher standards for operational resilience, organizations are implementing strategies that integrate regulatory compliance with the ability to recover swiftly from cyber disruption," said Maciej Kranz, General Manager, Enterprise at Pure Storage. "Together with Commvault and Kyndryl, we're delivering advanced security features and a scalable foundation of layered resilience that helps organizations meet these mandates and restore critical operations quickly and reliably." The services provided by the three companies are typically available across North America, Europe, and the Asia-Pacific region. Clients and partners will have opportunities to engage through existing partner programmes and access supporting resources aimed at enhancing cyber resilience and compliance capabilities. Follow us on: Share on:
Forbes
3 days ago
- Business
- Forbes
Can AI Change The Legal Profession Forever?
Sajal Singh is a Consulting Partner at Kyndryl Nordics, Global Innovation Expert for UN Compact. Board member, IE Business School, Spain. In 2020, Detroit resident Robert Williams was wrongfully arrested after an AI-powered facial recognition system misidentified him as a suspect despite the system's known limitations and warnings. He spent hours in custody before the mistake was uncovered—a stark reminder that AI bias isn't theoretical but deeply consequential. Similar cases have occurred elsewhere, and tools like the COMPAS algorithm have been shown to falsely label Black defendants as high-risk nearly twice as often as white defendants. These stories reveal a disturbing truth: AI can automate and amplify existing biases, leading to real-world injustice. The question we must ask is: When algorithms make mistakes in the legal system, who is held accountable, and how do we ensure fairness and oversight? These are deep questions that require much more than an article. But before we ever get to that stage, AI has many questions to answer for itself. Nevertheless, the legal industry is taking early advantage of AI despite concerns about secular adoption, as I have noted in my prior analyses of AI industry trends. According to the 2024 edition of the American Bar Association's Legal Technology Survey Report, AI adoption within the legal profession nearly tripled year-over-year, from 11% in 2023 to 30% in 2024. This growth spans all firm sizes, though larger firms are implementing AI at a faster pace. This trend is particularly noteworthy when compared to previous technology transitions. A 2024 survey by ACEDS and Everlaw found that legal professionals in the U.S. are adopting generative AI roughly five times faster than they did cloud-based eDiscovery software. This unprecedented rate of adoption underscores the transformative potential that legal professionals see in AI technologies. Market data further illustrates this growth trajectory. The global legal AI market was valued at $1.45 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 17.3% from 2025 to 2030. The rapid adoption of AI in legal practice is driven by compelling efficiency and performance gains. Research comparing large language models (LLMs) to traditional legal invoice reviewers revealed striking efficiency differences: While human lawyers take 194 to 316 seconds per invoice review, LLMs can complete reviews in as little as 3.6 seconds. This represents a 98% reduction in processing time. Cost efficiencies are equally impressive. The same report shows that this reduction in review time adds up to 99.97% in saved expenses. Similar efficiency gains are being observed in contract review processes, where LLMs complete reviews in mere seconds compared to the hours required by human reviewers. So, for a mid-sized firm reviewing 5,000 invoices annually, AI could slash labor costs from $21,350 (human reviewers) to $0.15 (AI systems). This 99.97% cost reduction directly boosts margins by lowering operational expenses. Manual legal work carries inherent error rates of 15% to 20% in tasks like contract clause identification. AI systems can reduce errors by 60%, minimizing costly revisions and liability risks. For a firm generating $10 million annually, a 5% reduction in error-related losses preserves $500,000 in revenue. As for usage, according to the 2025 State of Contracting Survey, the leading use case for AI adoption is contract review. The survey found that 14% of legal teams are now using AI for contract review, up from 8% in early 2024. When asked about key advantages, legal teams cited three primary benefits: faster turnaround times, time savings and reduced tedious work. We're seeing legal professionals also actively integrating AI tools for document review and discovery purposes. This represents a clear evolution from cautious exploration to broader deployment throughout 2024. Key benefits driving this adoption include improved service delivery, competitive differentiation and cost savings. As AI adoption accelerates, regulatory frameworks are evolving to address the unique challenges and opportunities these technologies present. In March 2024, the European Parliament formally adopted the EU Artificial Intelligence Act ("AI Act"), establishing the first comprehensive regulatory framework for AI globally. Shortly after, the United Nations General Assembly unanimously adopted the first global resolution on artificial intelligence, designed to encourage the protection of personal data, risk monitoring and human rights safeguards. These regulatory developments are not deterring adoption but are encouraging responsible innovation. A stable regulatory framework reduces uncertainty and promotes investment in AI research and development, particularly in industries with stringent requirements such as legal services. The data suggests that AI adoption in legal practice has reached a critical inflection point. Law students are increasingly recognizing the importance of AI skills for their future careers. A survey conducted from July to August 2024 found that law students view AI competency as essential not only for operational effectiveness but also for helping formulate future legal frameworks that will regulate this technology across industries. AI is fundamentally transforming the legal profession through unprecedented adoption rates, significant efficiency gains and expanding applications across multiple areas of practice. As the technology continues to mature and regulatory frameworks evolve, AI will likely shift from being a competitive advantage to an essential component of legal practice. This transformation extends beyond simple automation of routine tasks. It's clear that AI can enable legal professionals to deliver services more efficiently, accurately and cost-effectively, allowing them to focus on more strategic and complex aspects of legal work. But can justice ever be on autopilot? Disrupting the scales of justice through AI seems to be some time away. But when justice is coded, who can be held accountable for mistakes or discrimination? These are the larger questions that lie way beyond what industry has adopted until now and will require a larger cross-section of society to deliberate. Law and AI seem to be less interesting than law and AGI put together. That is when we as a society will have to consider if, sometimes, it is just better to be old-fashioned. Forbes Business Development Council is an invitation-only community for sales and biz dev executives. Do I qualify?
Mint
13-06-2025
- Business
- Mint
Innovating India's Banking Future: Finnovate Hackathon Paves the Way for Language-Driven Financial Inclusion
The Indian finance and banking sector is experiencing a phenomenal change. Accelerated digitisation, the emergence of fintech start-ups, and increasing customer expectations are revolutionising the way the financial sector works. With this change comes an unprecedented set of challenges—especially in a nation as linguistically and digitally diverse as India. Language remains one of the biggest barriers to financial inclusion for all today. Millions of Indians are struggling to access the banking system effectively due to the dominance of English and limited regional language support on digital channels. At the same time, the industry is being required to make things simpler, more personalised, and automated with document-intensive processes such as lending and KYC. These are not tech gaps—these are inclusion and growth barriers. Enter Finnovate Hackathon, a collaborative initiative designed to address precisely these issues. Finnovate Hackathon is a unique platform for fintech and banking startups and Independent Software Vendors (ISVs) where they can innovate, cooperate, and create high-impact ideas to address some of the most pressing issues in the Indian financial ecosystem. Organised by Mint, sponsored by Bhashini, and chaired by Kyndryl, the hackathon aims to encourage experiential, scalable, and technology-based solutions to five key problem statements that are the most urgent operational and customer experience challenges of banks in the current times. The hackathon's themes are rooted in real-world friction points: Breaking Language Barriers: Participants are tasked with leveraging AI-powered translation and conversational interfaces to make banking services accessible in multiple Indian languages. Participants are tasked with leveraging AI-powered translation and conversational interfaces to make banking services accessible in multiple Indian languages. Digital Transformation: Innovators will work on enhancing OCR and multilingual translation capabilities to streamline document processing—a common roadblock in areas like loan applications and onboarding. Innovators will work on enhancing OCR and multilingual translation capabilities to streamline document processing—a common roadblock in areas like loan applications and onboarding. Personalised Customer Experience: Teams are expected to develop multi-lingual virtual assistants that can integrate seamlessly with core banking systems, offering personalised support to users in their preferred language. Teams are expected to develop multi-lingual virtual assistants that can integrate seamlessly with core banking systems, offering personalised support to users in their preferred language. Multilingual Product Promotion & Day-to-Day Activities: Addressing everyday use cases, this problem statement calls for AI-driven solutions that break language barriers in marketing and daily banking interactions. Addressing everyday use cases, this problem statement calls for AI-driven solutions that break language barriers in marketing and daily banking interactions. Unified Lending Interface (ULI): By digitising and applying OCR to loan documents, participants can contribute to a more efficient and user-friendly lending experience. By digitising and applying OCR to loan documents, participants can contribute to a more efficient and user-friendly lending experience. Financial Services LLM: Another challenge involves developing a specialised Large Language Model (LLM) trained on financial terminology, with the potential to revolutionise customer interactions, analytics, and backend operations. Each of these themes reflects the current gaps in India's banking infrastructure—gaps that, if addressed effectively, could unlock the next wave of digital banking growth and financial inclusion. Finnovate isn't your average hackathon open to all developers or students. It specifically invites: Independent Software Vendors (ISVs) operating in the fintech and banking domains. operating in the fintech and banking domains. Startup teams with experience in BFSI. with experience in BFSI. Banking and Financial Institution representatives looking to co-develop solutions. looking to co-develop solutions. Technology Experts specialising in AI, machine learning, and OCR. Participants must form a team of 2 to 4 members. The first registrant becomes the team leader, who then invites others. Importantly, all team members must be employed by a startup or ISV operating in the BFSI space, students and unemployed individuals are not eligible. Cross-company teams are permitted, allowing diverse collaboration across the sector. However, participants must choose one of the problem statements, and that track must remain consistent for all team members. The participants are required to follow a well-defined code of conduct: All the work should be original and done within the hackathon period. Pre-written, third-party, or AI-written code will result in disqualification. Projects should be in on time; late submissions will be at the organisers' discretion. Participants consent to uphold principles of respect and integrity, thereby fostering a positive and inclusive atmosphere consistently. The assessment of an individual's employment status may occur at any time, with inconsistencies potentially leading to the disqualification of a team. Such safeguards are designed to maintain the event's professionalism, focus, and adherence to its fundamental objectives. As a global leader in mission-critical enterprise technology services, Kyndryl is no stranger to complexity. In India, Kyndryl supports major BFSI institutions—including both small finance and large-scale banks—on their digital transformation journeys. Their involvement in Finnovate reflects a strong belief in building agile, inclusive, and customer-centric solutions through collaboration. The term "Kyndryl" summarises this spirit, "Kyn" for affiliation and kinship, and "-dryl" borrowed from tendrils, thus reminding one of new growth. Finnovate is an extension of these principles; it is a program designed to foster new ideas, encourage closer affiliation of fintech with traditional systems, and spur growth of the banking ecosystem in a direction that includes everyone. India's financial sector is at a crossroads. On one hand, we have cutting-edge AI and digital capabilities; on the other, we have fundamental issues of accessibility, language, and outdated manual processes. Competitions like the Finnovate Hackathon are not just competitions but drivers of change. They bring together the industry's best minds to break through barriers and solve challenges that have far-reaching real-world consequences. With its cutting-edge focus on multilingual solutions, document digitisation, and smart customer service, Finnovate has the potential to be a trendsetter for a more inclusive and smart banking experience—one in which language, accessibility, and innovation harmonise with each other.
Yahoo
12-06-2025
- Business
- Yahoo
KD Q1 Earnings Call: Kyndryl Highlights Consulting Momentum and Expanding Margins
IT infrastructure services provider Kyndryl (NYSE:KD) reported Q1 CY2025 results exceeding the market's revenue expectations , but sales fell by 1.3% year on year to $3.8 billion. Guidance for next quarter's revenue was better than expected at $3.78 billion at the midpoint, 0.6% above analysts' estimates. Its non-GAAP profit of $0.52 per share was 2.7% above analysts' consensus estimates. Is now the time to buy KD? Find out in our full research report (it's free). Revenue: $3.8 billion vs analyst estimates of $3.77 billion (1.3% year-on-year decline, 0.8% beat) Adjusted EPS: $0.52 vs analyst estimates of $0.51 (2.7% beat) Adjusted EBITDA: $698 million vs analyst estimates of $709.7 million (18.4% margin, 1.7% miss) Revenue Guidance for Q2 CY2025 is $3.78 billion at the midpoint, roughly in line with what analysts were expecting Operating Margin: 4.2%, up from 1% in the same quarter last year Market Capitalization: $9.26 billion Kyndryl's first quarter results were propelled by continued growth in its consulting segment and the successful execution of its three strategic initiatives—accounts, alliances, and advanced delivery. CEO Martin Schroeter emphasized that signings increased 48% year over year, driven by demand for cloud migration, hybrid IT environments, and cybersecurity services. Kyndryl Consult, in particular, delivered above-market growth, with revenue rising more than 25% during the year. Schroeter highlighted the company's ability to secure large, multi-year contracts across multiple sectors, including a $1 billion agreement with a financial services client and expanded relationships in healthcare and retail. These wins reflect Kyndryl's expanded capabilities and reputation for managing mission-critical technology. Looking ahead, Kyndryl's management expects to sustain positive revenue momentum through a combination of margin expansion and increased demand for digital transformation services. CFO David Wyshner noted that the company anticipates double-digit revenue growth in Kyndryl Consult and a 50% increase in hyperscaler-related revenue for the year, reflecting growing partnerships with major cloud providers. Schroeter stated, 'Our business providing mission critical services under multi-year contracts means that we are significantly insulated from, although not immune to, macro factors.' The company also aims to drive further operational efficiencies and invest in consulting capabilities, Kyndryl Bridge (its AI-powered platform), and strategic alliances to support long-term profitability and cash flow targets set for the next several years. Management attributed the quarter's performance to significant consult signings, the expansion of cloud partnerships, and the impact of efficiency initiatives that improved margins. Consulting segment outperformance: Kyndryl Consult revenue grew over 25% for the year, with signings up 50%, fueled by demand for digital transformation projects such as cloud migration and application modernization. Management highlighted that consulting contracts typically convert to revenue faster than managed services and are accretive to company margins. Large deal momentum: The company secured multiple large contracts, including a $1 billion, six-year deal with a financial services firm and expanded agreements in healthcare and retail. Management sees these deals as expanding both the scope of services and the proportion of revenue from higher-margin offerings. Growth in hyperscaler alliances: Revenue from partnerships with major cloud providers more than doubled year over year, surpassing $1.2 billion. Management expects this trend to continue as enterprises modernize IT infrastructure and leverage AI capabilities. Margin improvement from strategic initiatives: The accounts, alliances, and advanced delivery ('3A') initiatives have become core to Kyndryl's operating model, delivering annualized savings and contributing to a 3.2 percentage point year-over-year increase in operating margin. Management noted that over 75% of targeted account savings have already been realized. Book-to-bill ratio and backlog: With a book-to-bill ratio above 1, Kyndryl is converting signings into a growing backlog, supporting future revenue visibility. Management reported 70-75% of annual revenue is already under contract at the start of the year, indicating strong predictability in the business. Management expects future performance to be shaped by consulting growth, expanded cloud partnerships, and ongoing operational efficiency gains. Consulting and advisory growth: The company forecasts continued double-digit growth in consulting revenue, underpinned by demand for cloud optimization, cybersecurity, and AI governance services. Management is increasing investment in consulting talent and capabilities to capture this demand. Expanding hyperscaler partnerships: Kyndryl anticipates a 50% increase in hyperscaler (major cloud provider) related revenue, driven by customer migration to hybrid and public cloud environments. These partnerships are expected to enhance both revenue growth and margin profile. Operational leverage and margin expansion: The shift toward post-spin, higher-margin contracts and the maturation of its 3A initiatives are projected to drive further operating margin improvement. Management cautioned that legacy contract roll-offs and ongoing investment in growth areas may moderate the pace of revenue acceleration in the near term. In the coming quarters, the StockStory team will be watching (1) the pace of consulting and hyperscaler-related revenue growth, (2) progress on expanding operating margins through efficiency initiatives, and (3) the scale and profitability of new large multi-year contracts. The evolution of Kyndryl Bridge and its impact on customer adoption will also be a key marker of success. Kyndryl currently trades at a forward P/E ratio of 19.4×. In the wake of earnings, is it a buy or sell? Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. 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Zawya
12-06-2025
- Business
- Zawya
Kyndryl report: Why most businesses are not yet winning with AI
Dubai, United Arab Emirates - A new global study released today by Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, found that only a small number of organizations globally have taken steps to align their workforce strategies with the growth of AI technology. Those that have done so have positioned themselves ahead in the race to deliver positive return on investments in the technology. While readiness varies by industry, Kyndryl's first People Readiness Report reveals a striking gap between AI investment and workforce preparedness: 95% of businesses have invested in AI 71% of leaders say their workforces are not yet ready to successfully leverage the technology 51% believe their organizations lack the skilled talent needed to manage AI 45% of CEOs think most employees are resistant or even openly hostile to AI "Only a small group of businesses have been able to harness AI successfully for business growth," said Michael Bradshaw, Global Practice Leader for Applications, Data and AI. "This report shows that while data architecture and technology infrastructure are key pieces of the puzzle, organizations that do not prioritize their workforces will miss out." Despite widespread attempts at implementation, most organizations are not currently benefiting from game-changing use cases that will drive new products and services for their customers. In the UAE and Saudi Arabia, 77% of businesses are investing in traditional AI and machine learning, yet only 39% are currently seeing a positive return on that investment, according to the 2024 Kyndryl Readiness Report. Meanwhile, the new global People Readiness Report reveals that a small subset of AI Pacesetters has leveraged AI for business growth while addressing workforce readiness. They are making strategic workforce decisions and seeing benefits across their employee population. Pacesetters are uniquely addressing 3 key barriers that are inhibiting AI adoption, and they are seeing benefits from their actions across: Organizational change management: AI Pacesetters are three times more likely than others to report a fully implemented change management strategy for AI in the workplace. Lack of employee trust in AI: AI Pacesetters are 29% less likely to cite fears around AI affecting employee engagement. Skill gaps: AI Pacesetters are 67% more likely to agree that their organization has the tools and processes to accurately inventory the skills employees currently have. Four in 10 report no skills challenges at all. "Preparing your workforce for the era of AI is easy to say, hard to do and an urgent imperative for business leaders," said Maryjo Charbonnier, Chief Human Resources Officer at Kyndryl. "At Kyndryl, we run an entire ecosystem of culture and systems that readies our people and our business for continuous change. It's about anticipating the business impacts of AI, understanding and integrating your skill data with your customer demand and having a multi-pronged approach for equipping employees to build the skills they need and learn to effectively use generative AI tools in their work." 'The Middle East is making remarkable strides in the AI space, establishing itself as a vital pillar in national digital agendas. As this momentum builds, workforce readiness has become a central topic of discussion—not only in the region, but around the world,' said Pieter Bil, Vice President and Managing Director, Kyndryl Middle East and Africa. 'Preparing our people for an AI-powered future requires close collaboration between academia, governments, technology companies, and industry leaders. Together, we can build a resilient, future-ready workforce equipped to harness the full potential of AI.' To read the full report, visit Kyndryl's People Readiness Report. About Kyndryl Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit Kyndryl press contact amneimne@
