AI
Best time to be in India for those in tech; we lead in AI talent: Nasscom chief Gangadharan
Citing the transformative impact of AI, Nasscom's new chairperson Sindhu Gangadharan said India will continue to be the place where companies look for "talent that helps them to go through such transformations".
OpenAI is growing fast and burning through piles of money
OpenAI's monthly revenue hit $300 mn in August, up 1,700% since the beginning of 2023, and the company expects about $3.7 bn in annual sales this year, according to financial documents reviewed by The New York Times. OpenAI estimates that its revenue will balloon to $11.6 bn next year.
OpenAI sees $11.6 billion revenue next year, offers Thrive chance to invest again in 2025
OpenAI is predicting its revenue will skyrocket to $11.6 billion next year from an estimated $3.7 billion in 2024, the sources said, speaking on condition of anonymity. Losses are expected to be as much as $5 billion this year, depending largely on their spending for computing power that could change, one of the sources added.
Apple drops out of talks to join OpenAI investment round: report
The tech giant recently fell out of the talks for the round, set to close next week, the newspaper said, citing a person familiar with the matter.
Karnataka launches GCC policy, first state to do so
“Through this policy, we expect the GCC sector to grow at a compound annual rate of 12-14% over the next decade and foresee Karnataka holding nearly 50% of the national GCC market share by 2029", Information Technology and Biotechnology Minister of the state, Priyank Kharge said.
Education and healthcare bear brunt of cyberattacks: report
The study found that over the past six months, organisations in India have experienced an average of 3,244 cyberattacks per week - nearly double the global average of 1,657 attacks per organisation.
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Alphabet to invest $3.3 billion for two data centers in South Carolina
The new Dorchester County facilities, located in the Pine Hill Business Campus in Ridgeville and Winding Woods Commerce Park in St. George, represent a $2 billion investment and will create 200 new operational jobs, while Alphabet will invest $1.3 billion in Berkeley County, according to the statement.
OpenAI chair says board has discussed equity compensation for CEO Sam Altman
Altman, who cofounded the company in 2015, has not taken a stake in OpenAI up to this point. Already a billionaire from his multiple startup investments, Altman has previously stated that he chose not to take shares in OpenAI because the board needed a majority of disinterested directors with no stake in the company.
Behind OpenAI's audacious plan to make AI flow like electricity
Chatbots like OpenAI's ChatGPT learn their skills by analyzing troves of digital data. But there is a shortage of the chips and data centers that drive this process. If that supply grows, OpenAI believes it can build more powerful AI systems.
US FTC announces crackdown on deceptive AI claims, schemes
The FTC also settled with a company called DoNotPay over its claim to provide automated legal services, and with Rytr, an AI writing tool that the agency said offered a feature that allows users to generate fake product reviews.
Meta unveils cheaper VR headset, AI updates and shows off prototype for holographic AR glasses
Seemingly in his element speaking to a cheering crowd, Zuckerberg said Meta is working to "bring the future to everyone" with its headsets, glasses and AI system. As part of an update to its Llama model, people will now be able to interact with Meta AI by speaking, with voices from celebrities such as John Cena, Judi Dench and Awkwafina.
CrowdStrike executive questioned by lawmakers over global tech outage
The July incident underscored how dependent modern commerce and communications have become on just a handful of large technology companies. Travelers were stranded as airlines canceled flights. Emergency services were disrupted as 911 operators found that their systems had failed. Hospitals paused some of their services.
HP unveils solution to share AI compute capacity among its devices
Enterprises will be able to allocate and utilise its GPU resources among HP AI devices, reducing reliance on costly cloud access, the company said. The PC devices brand has doubled down its play as a GenAI software and services provider with the HP AI Studio which offers tools, data and compute for data scientists to accelerate LLM development while also detecting biases.
Google excited about progress with Pixel phones: TN industries minister
Tamil Nadu industries minister TRB Rajaa reiterated that only a few weeks ago, the state government had signed an MoU for the Google Tamil Nadu AI Labs.
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
The investment will go toward improving connectivity and boosting the adoption of AI technology by small and medium-sized businesses (SMBs), the firm said in a statement.
Meta will not immediately join EU's AI Pact ahead of new law
EU lawmakers in May agreed to the act, the first-of-a-kind rules governing the development and deployment of artificial intelligence.
Russia produced most AI content to sway presidential vote, US intelligence official says
An official from the Office of the Director of National Intelligence (ODNI), speaking on condition of anonymity, made the comment in a briefing to reporters on the alleged use of AI by Russia and other countries to influence the Nov. 5 vote.
PM Modi meets top tech CEOs Jensen Huang, Sundar Pichai, others in the US
The 15 technology CEOs who attended the roundtable included Julie Sweet, CEO, Accenture; Shantanu Narayen, CEO, Adobe; Lisa Su, CEO, AMD; Arvind Krishna, CEO, IBM and Jensen Huang, CEO, Nvidia among others. The tech-roundtable focused on artificial intelligence (AI) and quantum; biotechnology and life sciences; computing, IT and communication; and semiconductor technologies, as per a statement from the Ministry of External Affairs.
Tech giants Google, Nvidia to enhance AI focus, investments in India
"I have enjoyed so many meetings with the Prime Minister. He's such an incredible student, and every time I see him, he wants to learn about technology, artificial intelligence, the potential and opportunity for India, the impact on India, society and industry," Nvidia CEO Jensen Huang said.
America-India is the AI power of the new world: PM Modi
Addressing the Indian diaspora at Nassau Coliseum in New York, Long Island at Modi & US Event, he said, "For the world, AI means artificial intelligence, but for me, AI also means American-Indian spirit. This is the new 'AI' power of the world."
Future warfare course to delve into impact of AI, disruptive technologies
The first of its kind, tri-Services 'Future Warfare' course is scheduled to be conducted in New Delhi from September 23-27 under the aegis of Headquarters Integrated Defence Staff, the ministry said in a statement.
Wealthtech sector takes to AI models to rewire business
Industry insiders said that while AI is being used across multiple functions by startups, these are still very early days. There is a shortfall in data around conversations between relationship managers and investors.
India hosts fewer than 10 micro data centres: paper
OCC is an open interface for providers and customers of computing infrastructure, and a network of interoperable micro data centres in the country. According to this model, India needs 10,000 micro data centres to build its compute power.
India melting pot of innovation, scale and execution; SMBs here prioritising AI: SAP India head
According to SAP's latest midmarket AI research, 96 per cent of Indian organisations with 250-1,500 employees are prioritising generative artificial intelligence (Gen AI), ahead of the rest of the world (91 per cent). The survey questioned 12,003 businesses around the world including 800 in India.
Sundar Pichai announces $120 million 'Global AI Opportunity Fund'
Pichai said that the initiative will invest "one hundred and twenty million dollars to make AI education and training available in communities around the world. We're providing this in local languages, in partnership with nonprofits and NGOs".
Mahindras form AI division to benefit group businesses
The new AI division will build the right AI solutions for all the group companies, Bhuwan Lodha, the chief of the newly created division said, pointing out that there are possibilities across the sectors like auto, real estate and hospitality in which the group is present.
Amazon adds chatbot for its sellers, boosting automation
Amazon announced Amelia during its annual conference in its hometown where many of its roughly 450,000 US independent sellers converge for tips and tricks, and to learn about new products and services. The software, dubbed Amelia, can provide instantaneous answers to broad questions such as how to prepare for the holidays and how a seller's business is performing, including units sold and website traffic.
OpenAI’s o1 takes a leap with model that reasons like us
OpenAI's o1, dubbed as the strawberry project capable of “thinking” and "reasoning," was recently launched. It is six times costlier than the GPT 4o Mini. But what is its best use? Experts weighed in.
90% of financial institutions focusing on AI, GenAI for innovation: PwC India report
As per the PwC India report titled, 'Mapping the FinTech innovation landscape in India' data analytics also continues to emerge prominently across nearly 74 per cent responses, underscoring its integral role in driving insights and decision-making within the financial services (FS) sector.
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