AI EXECUTIVES
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.
Afraid: Everything we know about release date, trailer, plot, cast and production
"Afraid" stars John Cho and Katherine Waterston as a family selected to test an AI assistant. The assistant starts as a helpful device but turns deadly. The film releases on August 30.
Investors pour $27.1 billion into AI startups, defying a downturn
Investors poured $27.1 billion into AI startups in the United States from April to June, accounting for nearly half of all U.S. startup funding in that period, according to PitchBook, which tracks startups. In total, U.S. startups raised $56 billion, up 57% from a year earlier and the highest three-month haul in two years.
AI added speed to dynamic entrepreneurial ecosystem in India: OpenAI senior executive
Srinivas Narayanan highlighted India's AI progress, supporting farmers and education with generative AI investments.
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Ukraine brings AI weapons to front lines
Ukrainian tech firms are pioneering autonomous drone technology, leading to the development of deadly tools that can interpret real-time video footage. The region's innovation race is fueled by advancements in deep learning and artificial intelligence, turning drones into lethal weapons capable of autonomous attacks.
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
China says US targeting of AI not helpful to healthy development
Last month, the United States released draft regulations to prohibit or mandate notification of specific investments in artificial intelligence and other technology sectors in China that might pose a threat to US national security. "We strongly oppose these sanctions," said Chinese UN Ambassador Fu Cong.
As AI gains a workplace foothold, US trying to make sure workers don't get left behind
Bridging the digital equity gap through AI education is crucial. Marvin Venay stresses the importance of inclusive initiatives for overcoming barriers. Accessible internet and affordable technology are essential components for empowering individuals with AI knowledge and skills.
Financial industry grappling with AI's gifts and perils, executives say
Zack Kass, a former head of business partnerships at OpenAI said AI systems could be better than humans at explaining to clients why they arrived at recommendations like portfolio allocations or lending decisions. He added that people are not good at explaining subconscious biases that could affect such decisions.
SoftBank Group launches AI healthcare joint venture with Tempus AI
Anton Bridge reported SoftBank Group's collaboration with Tempus AI for medical data analysis, edited by Christopher Cushing and Miral Fahmy.
Cash strapped Stability AI raises $80 million with new CEO and board
According to a person familiar with the matter, Stability AI has raised about $80 million in funding from a group of investors including Coatue Management, Lightspeed Venture Partners, and former Google CEO Eric Schmidt. The firm also released AI models to generate audio and video using text prompts and named former Facebook President Sean Parker as executive board chairman of its board.
AI's hunger for power can be tamed
Tech firms investing in AI must prioritize energy-efficient algorithms to combat environmental impact and rising power consumption, shifting away from current energy-intensive models towards more sustainable practices.
India's AI spending to touch $6 billion by 2027: IDC
Indian AI adoption is projected to boost AI spending to USD 6 billion by 2027, driven by IDC's insights on Generative AI and GenAI-enabled delivery, emphasizing the importance of digital transformation for Indian service providers.
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
How GenAI is opening up new revenue streams for IT firms and GCCs
The rise of generative AI (GenAI) presents an opportunity for IT firms to unlock new revenue streams. Companies like Accenture, Infosys, and Tech Mahindra, alongside global capabilities centers (GCCs), are seeing a surge in data standardisation work. This is driven by the vast amount of "uncleaned/unstructured" data held by their clients and parent companies.
Amazon to launch 'Remarkable Alexa' with AI for a fee – Here's how much customers will pay
Amazon plans for a new and upgraded version of Alexa. The new version will have interesting features. In September 2023, Amazon posted plans on its website to improve Alexa.
AI will eliminate certain roles, but will create more jobs than it eliminates: Deloitte AI exec
In an interview with PTI, Tandon, Managing Director, AI and Insights Practice Leader, Deloitte LLP, said AI will not snatch jobs, but will simply do away with some of the easier jobs, and create new roles.
Stability AI appoints new CEO: report
Akkaraju, former CEO of visual effects company Weta Digital, is part of a group of investors including former Facebook President Sean Parker that has stepped in to save Stability with a cash infusion, which could result in a lower valuation for the firm, the report said.
Indian CEOs hold AI governance crucial for AI adoption, innovation: IBM study
The global study of 3,000 CEOs across 30 countries and 26 industries highlighted the significance of AI governance for Indian business leaders. The study shows, 7 out of 10 Indian CEOs surveyed said tat trusted AI is only possible when you have effective AI governance in organisations. The study revealed that 49% of Indian CEO said they are hiring for Gen AI roles that did not exist till last year.
Companies need to increase AI skilling initiatives and also focus on ethics: Survey
Only 25% of IT professionals are very familiar with AI, as per ISACA survey. 40% orgs lack structured AI training, highlighting knowledge gaps and need for upskilling.
SAS India business to grow faster than other markets, top executive says
The company aims to upgrade its 400-odd customers to its generative AI platform SAS Viya over the next one year, Riad Gydien, executive VP and chief sales officer at SAS, told ET.
The rise of AI in recruitment process: How companies are using artificial intelligence for hiring
Companies use AI tools like GenAI bots for candidate sourcing, resume screening, and skills assessment. HR executives say AI makes hiring quicker and more efficient. Genpact launched IMatch, an AI-based job-matching engine, resulting in improved productivity and faster hiring.
Over 86% senior execs using AI for driving revenue growth: TCS study
86% of senior business leaders, per TCS study, use AI for revenue growth. 45% expect half their workforce to use Generative AI in 3 years. Harrick Vin notes AI solutions deployment challenges. 57% executives are excited about AI impact. Enterprises are moving towards wide-and-deep AI adoption.
Google AR Glasses set for a comeback, to be supercharged with AI
Google Glass, the augmented-reality headset that failed to gain traction with consumers a decade ago, is set for a comeback, powered by artificial intelligence. Alphabet Inc.'s Google has faced challenges for years in perfecting AR spectacles. After discontinuing the initial headset in 2015, the company shifted to selling enterprise versions for businesses, which were also phased out last year.
Indian companies likely to use existing AI models to leverage their data: Intel executive
Santhosh Viswanathan, vice president and managing director for the India region at chipmaker Intel, said the Indian market was at an “inflection point” with digitisation being a fundamental change and accelerant for the economy.
AI PCs running LLMs without net to solve data privacy issues: Dell executive
LLM applications such as the text-to-image generator Stable Diffusion, video editing software Adobe Premiere Pro, as well as music generation tool Audacity can now run more efficiently on devices with faster processing and auto-enhancement capabilities, the company demonstrated.
AI a 'game changer' but company executives not ready: survey
A majority of corporate executives across leading economies believe artificial intelligence will be a "game changer" for their industry but admit their leadership teams lack the knowledge to understand AI's risks and rewards, a study showed Friday. But 57 percent "lack confidence in their leadership team's AI skills and knowledge", the report found.
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