AI DISRUPTION
AI seen more as an opportunity than risk: PwC's Sam Samaratunga
PwC India's risk business has seen rapid growth, with partner count set to exceed 100. Global trends like AI and climate change shape risk management strategies. Companies seek to understand and mitigate risks for long-term resilience. AI presents both opportunities and challenges for businesses.
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
OpenAI's internal AI details stolen in 2023 breach
In April, a hacker accessed OpenAI's messaging, stealing AI design details. ChatGPT stayed secure. Microsoft-backed OpenAI informed employees, not federal law enforcement. No customer data compromised. Reported by Dey, Timsina, Aich. OpenAI disrupted covert influence operations. Biden administration plans to safeguard AI. In May, 16 companies pledged to develop AI safely, addressing emerging risks.
L&T bets on GenAI for sustainable progress
Larsen & Toubro, a leading engineering, procurement, and construction firm, is prioritizing generative AI for sustainable advancements, as highlighted by S N Subrahmanyan in his inaugural address as chairman at the company's 79th annual meeting on July 4.
Bot voyage: Can GenAI-based innovation ease turbulence in air travel
India's aviation sector embraces cutting-edge AI solutions to enhance customer experience, optimize operations, and propel efficiency, revolutionizing the industry dynamics.
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Google to simplify disclosures for digitally altered content in election ads
The update to the disclosure requirements under the political content policy requires marketers to select a checkbox in the "altered or synthetic content" section of their campaign settings.
AI is learning from what you said on Reddit, Stack Overflow or Facebook. Are you ok with that?
Some longtime users have attempted to erase their previous contributions or transform them into nonsense, but their efforts have not yielded significant results. A few governments, such as Brazil's privacy regulator on Tuesday, have also attempted to intervene. Meta has also encountered resistance in Europe, where it recently put on hold its plans to start feeding people's public posts into training AI systems
Y Combinator-backed AI robotics startup Pivot Robots raises funding from NuVentures
Pivot Robots will use the funds for team expansion, particularly in the areas of motion planning and computer vision. Siddharth Girdhar, cofounder of the company told ET, the funding will facilitate team growth, especially in motion planning and computer vision. Additionally, it will support increased robot testing and the establishment of office space.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
AI set to revolutionize global banking, boosting profits by $170 billion by 2028: CITI report
The report highlighted AI's role in combating financial fraud. While countries like the European Union, China, and Singapore have emerged as early adopters of AI regulation in finance, the United States has taken a cautious approach, lagging behind in regulatory initiatives. India, on the other hand, has shown a fluctuating stance on AI governance.
Shipping delays and disruptions erode profitability of MSMEs: Ketan Kulkarni, Allcargo Group
Extended transit times can result in increased transportation expenses and potential penalties for late deliveries, further straining financial resources, says Ketan Kulkarni, Chief Growth Officer, Allcargo Group.
Ixigo IPO pops; AI jobs command premium pay
Ixigo lists at about 50% premium, ends day at 20% upper circuit. This and more in today’s ETtech Top 5.
India may lead the charge in global AI landscape: GitHub CEO
According to GitHub CEO Thomas Dohmke, India has the potential to surge to the forefront of the global AI landscape, driven by its rapidly expanding community of software developers. By 2027, this community is projected to surpass the United States as the world's largest, aligning with the transformative era of AI. Currently, India boasts 15.4 million active developers on the Microsoft-owned platform, marking a substantial 33% year-on-year growth.
How an Israeli firm tried to build anti-BJP narrative during polls
OpenAI claims to have disrupted an AI-based covert operation launched by an Israeli firm that allegedly peddled anti-BJP agenda. In 2021, the BJP government drew flak after Israeli spyware Pegasus was allegedly used to snoop on journalists, Opposition leaders and rights activists
OpenAI, Google DeepMind's current and former employees warn about AI risks
The letter further warns of risks from unregulated AI, ranging from the spread of misinformation to the loss of independent AI systems and the deepening of existing inequalities, which could result in "human extinction."
Air India's Delhi-Vancouver flight faces long delay on Sunday
Passengers on an Air India flight from New Delhi to Vancouver experienced a frustrating delay of over nine hours on Sunday due to a technical problem. The scheduled departure time for flight AI 185 was 0530 hours, but it was finally able to take off at 1450 hours, as reported by flight tracking websites.
Air India's Delhi-Vancouver flight faces delay; rescheduled for Sunday
Air India's flight from Delhi to Vancouver faced an inordinate delay due to technical issues. The airline rescheduled the flight, departing the next day. DGCA issued a show cause notice for flight delays.
STOIC hits India with 'Zero Zeno': Israeli firm tries to disrupt Lok Sabha elections; pushed anti-BJP, pro-Congress content
OpenAI's report revealed that STOIC, an Israeli political campaign firm, conducted an operation called 'Zero Zeno' to generate anti-BJP and pro-Congress content during the Indian elections, while also commenting on the Gaza conflict. In May, the network began targeting India specifically, criticizing the ruling BJP and praising the opposition Congress party.
Indian AI firms may face extra costs as EU’s AI Act kicks in
The European Union wrapped up approval of the world's first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Generally applicable AI will have a year to comply, while high-risk systems get up to three years.
Europe's cybersecurity chief says disruptive attacks have doubled recently, sees Russia behind many
Disruptive digital attacks, linked to Russia-backed groups, have doubled in the EU, targeting election-related services, per the EU's top cybersecurity official, Juhan Lepassaar of ENISA.
Paytm shares drop 3% after Q4 results. Should You buy or sell?
Paytm's Q4 results show widened losses and reduced revenue, impacted by disruptions and regulatory actions. Analysts vary: Bernstein sees signs of recovery, Macquarie remains cautious, Motilal Oswal maintains a neutral stance, while JM Financial advises selling.
AI Express union says reduced flights impacting cabin crew salaries
Air India Express Employees Union (AIXEU) flags concerns over flight delays and cancellations, impacting cabin crew salaries. Over 100 crew members have been idle for two months due to entry pass issues. Strike called off on May 9 after meeting with Chief Labour Commissioner. Union seeks intervention for salary impact. Next conciliation meeting on May 28.
GPT-4o set to disrupt conversational AI, edtech and call centre business
ChatGPT creator OpenAI announced the launch of GPT-4o, its newest flagship model, during a livestream on Monday. Chief technology officer Mira Murati described GPT-4o as "much faster" and "improves capabilities across text, vision, and audio".
If AI can disrupt future, track these 9 artificial intelligence stocks
Generative AI's disruptive potential attracts investors in Indian IT. Revenue challenges due to adoption lag. Companies explore deep learning in Gen AI. Happiest Minds and Affle offer AI services. BCG predicts growth in India's AI market.
Air India's basic culture is bad, should be shut down: Ghulam Nabi Azad
Former Minister Azad criticizes Air India's 'bad culture' after flight cancellation. Crew shortage monitored by Ministry of Civil Aviation. Air India Express apologizes for disruptions. Vistara also faced pilot shortage issues in April.
China may disrupt elections in India using AI, warns Microsoft
Microsoft warns of China's potential use of AI to disrupt elections in India, the US, and South Korea. Despite low current impact, China's AI-generated content poses future threats. Recent activities in Taiwan's presidential election raise concerns. Chinese cyber groups, including Beijing-backed Storm 1376, may target upcoming high-profile elections. AI-generated TV news anchors spread misinformation, highlighting evolving cybersecurity challenges in safeguarding democratic processes.
The new AI disruption tool: Devin(e) or Devil for software engineers?
After ChatGPT made waves all over the world for its surprising generative AI capacity, a US-based company called Cognition has announced the launch of a new AI tool called Devin which it claims to be the world's first fully autonomous AI software engineer which can write code with command prompts.
TikTok owner ByteDance's chief warns against mediocrity as AI brings disruption
ByteDance CEO Liang Rubo warned employees about the company's complacency and lack of attention to AI technology. He mentioned the delayed recognition of the GPT-1 machine learning technique. ByteDance, known as the App Factory, has been slow to join the AI race. Liang highlighted ByteDance's late start on AI foundation models and the impact of internal red tape on project timelines. He urged the company to streamline its processes and avoid unnecessary delays.
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