Is India ready for the AI revolution? The rapid advancements in artificial intelligence, from generative AI tools to sophisticated machine learning algorithms, are transforming industries across the nation. From fintech's burgeoning use of AI-powered fraud detection to the agricultural sector's embrace of precision farming technologies, the impact is undeniable. This week saw a major breakthrough in indigenous 5G technology development, signaling India's growing prowess in the global tech landscape. But alongside this progress comes the crucial discussion surrounding data privacy, cybersecurity, and the ethical implications of AI deployment. How will India navigate these challenges and harness the transformative power of technology for inclusive growth? Explore the latest developments in Indian tech, from the rise of digital payments to the burgeoning startup ecosystem, and discover how innovation is shaping the nation's future. Stay informed with Abtak.com – your gateway to understanding the tech revolution reshaping India.
NEW DELHI: US-based Oracle is cutting jobs in its cloud unit in a bid to control costs amid heavy spending on artificial intelligence (AI) infrastructure, news agency Bloomberg reported, citing people familiar with the development. Part of the layoffs were related to performance issues; however, the cloud unit continues to hire workers, as per the report, which cited two unnamed people. Oracle has cut more than 150 jobs in the Seattle area, which is the unit's hub. The cloud infrastructure solutions provider last year said it was shifting its headquarters to Nashville, and currently has more jobs listed in Tennessee than in any other state, according to the report. Oracle did not respond to Bloomberg's queries. Datacenter Dynamics first reported on the job cuts. Technology giants, grappling with the surging costs of AI, have sought to reduce expenses in other parts of the business either through job reductions, or by replacing humans with AI agents. Windows OS maker Microsoft, for instance, cut nearly 15,000 jobs this year, while Amazon and Meta Platforms Inc have also axed jobs. Last month, Oracle's cloud unit inked a deal with OpenAI for a 4.5GW data center in the US. It is under pressure to build increasingly large data centers, costing over tens of billions of dollars, to meet demand for AI. Its free cash flow was negative in the fiscal year that ended in May, according to the report. In a June filing, Oracle said that it periodically makes changes to its workforce due to strategy changes, reorganisations, or performance issues. "These types of restructurings have resulted, and may in the future result, in increased restructuring costs and temporarily reduced productivity while employees adjust to the restructuring," it had said.
BENGALURU, India, Dec. 4, 2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic collaboration with Kardex, a leading global provider of intralogistics solutions, including automated storage solutions and material handling systems, to transform its business operations using SAP S/4HANA. Leveraging Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey, Infosys will help Kardex unify its ERP system in over 30 countries, boost operation ...Read More >
Alber doubled Williams-Sonoma's business since 2010 and widened the margin; growth is expected to continue and support a healthy capital return. There are many reasons to own a stock, and the CEO is one of them. The right CEO can be the defining factor in a company's success, shaping operations, driving growth, and delivering substantial shareholder returns. Strong leadership often signals not just steady performance but transformative potential. Brian Niccol and Laura Alber are prime examples of how executive vision can create lasting value. Their track records at Chipotle Mexican Grill Inc ...Read More >
Bengaluru, 4th December 2024- PURE EV, one of India's leading electric two-wheeler manufacturers, has unveiled an ambitious roadmap to strengthen its presence nationwide and expand globally while introducing innovative solutions for sustainable mobility. Over the next 30 months, the company aims to add 250 new dealerships, taking its total network to over 320 across India. The expansion will be driven by the growing demand for long-range scooters, electric motorcycles, large B2B contracts, and the company's entry into the house-hold brand space. Dr. Nishanth Dongari, Founder & MD of PURE EV, ...Read More >
New Delhi, May 28 (SocialNews.XYZ) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the interest subvention component under the modified interest subvention scheme (MISS) for loans to farmers during the financial year 2025-26, and approved the required fund arrangements, according to an official statement issued after the meeting. MISS is a Central sector scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan credit cards (KCC). Under the scheme, farmers receive short-term loa ...Read More >
The AI industry is rapidly evolving, with numerous companies leading breakthroughs across various sectors. AI innovations are transforming industries worldwide, from cloud computing and cybersecurity to healthcare and autonomous vehicles. This list of the top 25 AI companies highlights leaders in developing cutting-edge solutions, ranging from hardware and data analytics to generative AI and robotics. These companies are not only shaping the future of artificial intelligence but also paving the way for smarter and more efficient systems in everyday life. ...Read More >
New Delhi, India, January 20, 2025 - According to a recent, global Recon Analytics survey commissioned by Seagate Technology, business leaders from across 15 industry sectors and 10 countries expect that adoption of artificial intelligence (AI) applications will generate unprecedented volumes of data, driving a boom in demand for data storage, in particular cloud-based storage. With hard drives delivering scalability relative to terabyte-per-dollar cost efficiencies, cloud service providers rely on hard drives to store mass quantities of data. Recently, analyst firm IDC estimated that 89% of ...Read More >
New Delhi, May 20 (SocialNews.XYZ) Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
India Quality Conclave 2024: Driving Excellence in Quality Management Presto Group proudly presents the India Quality Conclave 2024, set to take place on November 30 at Crowne Plaza, New Delhi. This transformative event will bring together industry leaders from packaging, FMCG, pharmaceuticals, and other sectors to discuss cutting-edge quality improvement practices. Key highlights include strategies for cost reduction, boosting QC team productivity, and ensuring hassle-free audits. Attendees will benefit from keynote speeches, case studies, panel discussions, and a special book launch, Per ...Read More >
Trial conducted over a 118 km Boston metro route with 10 network hops and nine ROADMs. US wireless carrier Verizon has successfully tested the transportation of 1.6 terabits per second of data across a single wavelength on its live metro fiber network. Utilising Ciena's WaveLogic 6 Extreme (WL6e) coherent optical solution, the trial, conducted in Boston, demonstrated data travelling farther and faster across Verizon's fiber network. This upgrade enhances the network's ability to handle the workloads generated by artificial intelligence (AI) applications, particularly Generative AI, according ...Read More >
Infosys has announced an average 85% performance bonus for eligible employees in Q2 FY25, reflecting its strong financial performance. The bonus, paid to mid- and junior-level staff, will be credited with the November salaries, with individual payouts varying based on performance. This follows Infosys' impressive 4.7% rise in Q2 net profit and a revenue increase of 5.1%, leading to an upward revision of its FY25 revenue guidance. The bonus payout surpasses the previous quarter's 80%, with Infosys outpacing rivals like TCS. Employees are also awaiting salary hikes, with revisions expected from ...Read More >
New Delhi [India], December 4 (ANI): The GSEC in Hyderabad will be the first of its kind in the APAC region after Tokyo and only the fifth globally, with similar facilities in Dublin, Munich, and Malaga, according to a statement. This GSEC is a specialised international cybersecurity hub designed to play a crucial role in developing advanced security and online safety products tailored for the Indian context. The centre will focus on cutting-edge research, AI-driven security solutions, and creating a collaborative platform for leading experts and researchers in cybersecurity. It also aims to ...Read More >
The books for class 9-12 will be available from 2026-27. New Delhi: The National Council of Educational Research and Training (NCERT) has reduced the prices of books for classes 9 to 12 by 20 per cent. The decision was announced by NCERT Director Dinesh Prasad Saklani during an event held in the national capital on Monday. The reduction in the prices of books will be effective from the upcoming academic year. News agency PTI quoted the minister as saying that while the textbooks for classes 9- ...Read More >
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.Anuj Kumar, Director & CEO, CAMS, says there has been some market correction and some flattening of the mood in the last two months. But as things come back, we should be holding our projections and FY25 should be one of the strongest years in t ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
News 2 min read Indian IT industry to see 30-35 pc high demand for niche tech roles in 2025 The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, according to a new report. New Delhi, The Indian IT industry is projected to see 30-35 per cent increased demand for highly-specialised tech roles in 2025, along with increased spending on upskilling in the coming years, acco ...Read More >
As businesses increasingly adopt AI, customizing large language models (LLMs) like GPT and Claude is key to meeting industry-specific needs. Techniques like Retrieval-Augmented Generation (RAG) and in-context learning are gaining popularity. RAG enables real-time data retrieval, ideal for tasks requiring up-to-date information, while in-context learning provides guidance within the task prompt. Recent advancements in LLMs, such as larger context windows, offer new possibilities but also present challenges, including cost and efficiency. A hybrid approach combining RAG and long-context models m ...Read More >
Bengaluru, India (OTE) - Leveraging Infosys Topaz and Google Cloud technology, the center of excellence will foster co-innovation to deliver transformative AI-powered solutions Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of a Google Cloud center of excellence, powered by Infosys Topaz, to foster enterprise AI innovation. The center will serve as a catalyst for co-creation and help businesses harness the power of generative AI to achieve transformative growth. Infosys and Google Cloud share a s ...Read More >
New Delhi, Dec 5 (PTI) Amazon Web Services (AWS) on Thursday said it is committing up to USD 100 million in cloud credits over the next five years to help eligible educational institutions and underserved students worldwide develop and scale digital learning solutions. The programme, a part of AWS Education Equity Initiative, will grant recipients cloud credits, which function similarly to cash, allowing organisations to reduce their expenses when utilising AWS's cloud services. "At AWS, we are committed to levelling the playing field in education, ensuring learners from underrepresented and ...Read More >
PNN Hyderabad (Telangana) [India], December 6: We are thrilled to announce that ABSYZ Software Consulting, a Youngsoft company, and a trusted Salesforce partner since 2014, has been elevated to Salesforce Summit Partner status, the highest recognition within the Salesforce consulting ecosystem. This milestone highlights ABSYZ's unwavering commitment to excellence, innovation focused on customer needs, and delivering transformative results for clients through its global Salesforce implementations. As one of the elite 5% of Salesforce consulting partners worldwide, this achievement reflects ou ...Read More >
New Delhi, Jun 5 (PTI) India has always led in developer talent and now has a strong opportunity to lead in AI talent, OpenAI Global Chief Strategy Officer (CSO) Jason Kwon said on Thursday as the ChatGPT-maker launched OpenAI Academy in partnership with IndiaAI Mission. In an interview to PTI, Kwon said that India - which has the second largest number of ChatGPT users - is among the most important countries for OpenAI in terms of engagement. India has always had the "ingredients to succeed", he noted. OpenAI, he pointed out, is eyeing partnerships that will help build the future of AI infra ...Read More >
NEW DELHI: OpenAI, in partnership with IndiaAI Mission under the IT Ministry, on Thursday launched the OpenAI Academy India, marking the first international expansion of the ChatGPT-maker's education platform. The initiative seeks to broaden access to AI education and tools, tapping into India's fast-growing developer community, digital infrastructure, and network of startups and innovators, the company said. OpenAI and IndiaAI also inked a memorandum of understanding (MoU), outlining their partnership goals. OpenAI Academy India will support the IndiaAI Mission's FutureSkills pillar by exp ...Read More >
Elon Musk has announced plans to revolutionize the gaming industry by launching an AI-driven game studio under xAI. In a series of posts on X, Musk, a passionate gamer, criticized the current state of game development, highlighting the influence of large corporations and ideological biases. He pledged to "make games great again" through innovative applications of artificial intelligence. While many gamers have welcomed this move, excited by the idea of independent game development, critics question Musk's lack of experience in managing a game studio. The announcement has sparked widespread deb ...Read More >
Umwelt.Ai has partnered with PeopleStrong to enhance employee experiences and streamline HR processes through advanced AI-driven engagement solutions. This collaboration combines Umwelt.Ai’s cutting-edge analytics and sentiment analysis with PeopleStrong’s expertise in Human Capital Management (HCM), delivering real-time insights to tackle workforce challenges. The partnership aims to boost employee satisfaction, retention, and productivity, aligning with the rapid growth of India’s employee engagement market. Umwelt.Ai’s CEO Vishal Chopra emphasized its role in fostering dynamic workplaces, w ...Read More >
4HANA Bengaluru, India (OTE) - To help unify Kardex's ERP system in over 30 countries leveraging Infosys Cobalt Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic collaboration with Kardex, a leading global provider of intralogistics solutions, including automated storage solutions and material handling systems, to transform its business operations using SAP S/4HANA. Leveraging Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey, Infosys will he ...Read More >
NEW DELHI: Coursera, Inc., one of the world's largest online learning platforms, unveiled its annual learner trends for India, based on insights from over 27 million registered learners. This year, India surpassed Europe in the total number of learners on Coursera, highlighting the ambition and commitment of Indian learners to upskill and stay competitive in a rapidly evolving global workforce. Two key trends emerged in 2024: an unprecedented demand for GenAI learning and a growing preference for role-specific content to prepare for specific jobs. According to Microsoft's Work Trend Index 202 ...Read More >
Cloud-based testing platform LambdaTest has secured $38 million in a funding round led by Avataar Ventures, with Qualcomm Ventures also participating. The fresh funding comes after a gap of more than 30 months for the Noida and San Francisco-based startup. This latest round brings the company's total funding to $108 million, including a $45 million round in March 2022. Its early backers include Premji Invest, Peak XV, Telstra Ventures, Blume Ventures, and Leo Capital. LambdaTest was part of the ...Read More >
Union Secretary for Electronics and Information Technology (IT) S. Krishnan said on Monday (December 9, 2024) that as India's Internet grows further, investments in reliability would be required. "Yesterday, I was walking through Old Delhi, and if you look up and see the kind of cables carried along the sides of the roads, along the streetlights and lampposts, you wonder, is this what we are relying on?" he said, adding, "It's worse than a spaghetti bowl of cables." Mr. Krishnan said the Interne ...Read More >
New Delhi, Jan 31 (PTI) Indian cloud service providers Ola Krutrim and AceCloud have started offering services of Chinese artificial intelligence platform DeepSeek in the country. AceCloud was the first to announce hosting of DeepSeek. Also Read | 8th Pay Commission: Nirmala Sitharaman To Announce Official 8th CPC Implementation Date in Union Budget 2025? Check Details Here. AceCloud said that it will offer DeepSeek AI models to businesses with claims that the data residency will remain in India. Krutrim claimed to be the first Indian AI company to deploy DeepSeek's AI models on domestic s ...Read More >
New Delhi, May 20: Fintech company MobiKwik has reported a wider consolidated loss of Rs 56.03 crore in the fourth quarter of the financial year 2024-25 (Q4 FY25), compared to a small loss of just Rs 67 lakh in the same quarter last fiscal (Q4 FY24). The company's loss also increased from Rs 55.2 crore in the previous quarter (Q3 FY25), according to its stock exchange filing. For the full financial year FY25, MobiKwik recorded a loss of Rs 121.5 crore. This is a major setback for the Gurugram-based firm, which had posted a profit of Rs 14 crore in the previous fiscal year (FY24). MobiKwik's r ...Read More >