diff --git a/classical-ml/docker-compose.yaml b/classical-ml/docker-compose.yaml
index 491005de..0c8a7981 100644
--- a/classical-ml/docker-compose.yaml
+++ b/classical-ml/docker-compose.yaml
@@ -40,21 +40,21 @@ services:
         org.opencontainers.base.name: "intel/python:3.10-core"
         org.opencontainers.image.name: "intel/intel-optimized-ml"
         org.opencontainers.image.title: "Intel® Optimized ML Base Image"
-        org.opencontainers.image.version: ${SKLEARN_VERSION:-2024.6.0}-${PACKAGE_OPTION:-pip}-base
+        org.opencontainers.image.version: ${SKLEARN_VERSION:-2024.7.0}-${PACKAGE_OPTION:-pip}-base
       target: ml-base-${PACKAGE_OPTION:-pip}
     command: >
       bash -c "python -c 'import sklearnex, sklearn; import xgboost as xgb; print(\"Scikit version:\", sklearn.__version__, \"\\nXGBoost version:\", xgb.__version__)'"
     depends_on:
       - ${PACKAGE_OPTION:-pip}
-    image: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.6.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
+    image: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.7.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
     pull_policy: always
   jupyter:
     build:
       labels:
         dependency.python.pip: jupyter-requirements.txt
-        org.opencontainers.base.name: "intel/intel-optimized-ml:${SKLEARN_VERSION:-2024.6.0}-${PACKAGE_OPTION:-pip}-base"
+        org.opencontainers.base.name: "intel/intel-optimized-ml:${SKLEARN_VERSION:-2024.7.0}-${PACKAGE_OPTION:-pip}-base"
         org.opencontainers.image.title: "Intel® Optimized ML Jupyter Base Image"
-        org.opencontainers.image.version: ${SKLEARN_VERSION:-2024.6.0}-${PACKAGE_OPTION:-pip}-jupyter
+        org.opencontainers.image.version: ${SKLEARN_VERSION:-2024.7.0}-${PACKAGE_OPTION:-pip}-jupyter
       target: jupyter
     command: >
       bash -c "python -m jupyter --version"
@@ -62,5 +62,5 @@ services:
       http_proxy: ${http_proxy}
       https_proxy: ${https_proxy}
     extends: ml-base
-    image: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.6.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-jupyter
+    image: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.7.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-jupyter
     network_mode: host
diff --git a/classical-ml/requirements.txt b/classical-ml/requirements.txt
index b7ff293b..a6e159d1 100644
--- a/classical-ml/requirements.txt
+++ b/classical-ml/requirements.txt
@@ -1,8 +1,8 @@
-daal4py==2024.6.0
+daal4py==2024.7.0
 matplotlib==3.9.2
 numpy==1.26.4
-scikit-learn-intelex==2024.6.0
+scikit-learn-intelex==2024.7.0
 threadpoolctl==3.5.0
 xgboost==2.1.1
-pandas==2.2.2
+pandas==2.2.3
 nbconvert==7.16.4
diff --git a/classical-ml/tests/tests.yaml b/classical-ml/tests/tests.yaml
index 197dd285..883d6889 100644
--- a/classical-ml/tests/tests.yaml
+++ b/classical-ml/tests/tests.yaml
@@ -14,13 +14,13 @@
 
 ---
 classical-ml-import-${PACKAGE_OPTION:-pip}:
-  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.6.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
+  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.7.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
   cmd: python -c "from sklearnex import patch_sklearn; patch_sklearn();import xgboost as xgb; print(xgb.__version__)"
 classical-ml-import-${PACKAGE_OPTION:-pip}-jupyter:
-  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.6.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-jupyter
+  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.7.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-jupyter
   cmd: sh -c "python -m jupyter --version"
 classical-ml-performance-${PACKAGE_OPTION:-pip}:
-  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.6.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
+  img: ${REGISTRY}/${REPO}:b-${GITHUB_RUN_NUMBER:-0}-${BASE_IMAGE_NAME:-ubuntu}-${BASE_IMAGE_TAG:-22.04}-${PACKAGE_OPTION:-pip}-py${PYTHON_VERSION:-3.10}-scikit-learn-${SKLEARN_VERSION:-2024.7.0}-xgboost-${XGBOOST_VERSION:-2.1.0}-base
   cmd: python /tests/performance.py
   volumes:
     - src: $PWD/classical-ml/tests