AI GROWTH
Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
Is it time to start buying IT stocks? Macquarie’s Ravi Menon explains
The IT sector anticipates growth is being driven by AI and enterprise technology spending amid concerns over interest rates and consulting demand. Companies like Tata Technologies are facing valuation challenges in the engineering services segment, contrasting with positive growth prospects for IT services, says Ravi Menon, IT Services Analyst, Macquarie.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
AI: the supercharger for India’s MSMEs
Artificial intelligence (AI) is not only reshaping India’s landscape but also fostering economic growth through innovative tech solutions. According to Stanford University’s annual AI Index report, India saw the fifth highest investments last year in startups offering AI-based products and services.
Industrials strong, but be careful about valuations: Hiren Dasani of Goldman Sachs Asset Mgmt
"Emerging market equities, as an asset class, are not seeing inflows. They have seen outflows. The US is doing much better than the broader emerging market. The other dynamic is there is also a very strong AI (artificial intelligence)-driven theme that is driving the markets like Taiwan, which is a global supply chain for the entire AI-related and semiconductor segments"
Shopify expands access to its AI-powered features to attract more businesses
Customers can now use its editing tool on their smartphones to enhance images used in promotional materials, including emails, the Canada-based firm said at its biannual products event. The feature was previously restricted to only editing product images online.
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Indigenous Innovation: A blueprint for systematically achieving Viksit Bharat
India's digital economy is on track to reach $1 trillion by 2030 with a growth rate 2.8 times that of regular GDP. Leveraging the CHIPS framework and strategic partnerships, India aims to secure a prominent global position through sustainable practices, education initiatives, and robust data governance.
India can be the great link joining the largest population of developers to AI’s immense possibilities
India is projected to surpass the US as the largest software developer community by 2027, with the digital economy contributing significantly to its overall economy. AI tools are revolutionizing software development, leading to substantial gains in productivity. The country's focus on early education in programming and the promotion of open-source collaboration are key factors driving this growth.
Accenture narrows its revenue guidance to 1.5-2.5% in FY24
Accenture's strong financial performance, driven by AI adoption, generative technologies, and strong revenue growth, positions it as a key player in the IT services sector.
IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
Ample growth opportunities for all IT services companies from a longer-term perspective: Sumit Pokharna
What we have scanned and found out is that they expect the demand to improve in calendar year 2024 but definitely it will be below normalised level. Secondly, their priority is to upgrade the tech stack.
Freshers, take note: Data proficiency is becoming the key to multiple career opportunities
Data analysis is a crucial skill valued by employers across industries. It involves extracting insights from raw data using statistical tools. Lokesh Nigam and Krishna Kumar emphasize its importance in decision-making and career growth.
Affle India is this week's top stock; why analysts are bullish
The management aims for over 20% revenue growth in 2024-25 and is optimistic about better pricing and margin improvement. Analysts expect the near-term pressure from developed markets to subside in the current financial year. Should you invest in Affle India?
Unpacking K Krithivasan's first year as TCS CEO
TCS CEO K Krithivasan completed a year in office this month. His term was marked by an unprecedented slowdown in tech demand. The veteran, however, has brought growth and stability for the bellwether. Under his leadership, TCS reached $29.1 billion in annual revenues in the year ending this March, growing at 4.1%.
India's strong growth leading to trend of 'reverse flipping' for startups
Commerce Secretary Sunil Barthwal stressed how India's growth rate is nearly double that of other emerging market economies. He was speaking at an event in Singapore organised by the commerce ministry to showcase various investment opportunities in India.
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.
Strategic acquisition of mid-level talent is pivotal for D2C companies to grow in this market
The D2C market in India is experiencing significant growth, driven by a surge in consumer numbers and a diversification of offerings. AI and automation are playing a crucial role in revolutionizing operations, while the impact of the Open Network for Digital Commerce (ONDC) is profound.
In your odyssey to happy redundancy, can you hear the AI sirens sing?
Everyone and their uncle’s going bananas over how AI will make everything better, effortless, abundant – but watch out for the rocks of declining individual creativity, critical reasoning, and ingenuity
Nvidia set to overtake Apple as world's second-most valuable company at $2.68 trillion
Nvidia could soon surpass Apple to become the world's second-most valuable company, benefitting from the surge in adoption of AI applications. Nvidia's high-end chips power virtually all AI applications, propelling its stock value to $2.68 trillion.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
Why India needs to quickly make the best use of its working-age population
India is experiencing a rapid decline in population growth, leading to a smaller number of children and a growing proportion of elders. This shift will impact the dependency ratio and the demographic dividend in the country.
Optic fiber cable component maker Runaya aims to grow rev to Rs 500 cr over next 3-4 years
The transition to 5G and the associated infrastructure upgrades are driving this demand, with the global market for fiber optic cables expected to grow from $9.2 billion in 2021 to over $12 billion by 2024, representing a compound annual growth rate (CAGR) of 10%, according to estimates by the company.
As macro climate changes, GenAI will also scale up: Infosys CEO Salil Parekh
In a wide-ranging interview with Sameer Ranjan Bakshi, Beena Parmar and Surabhi Agarwal, Salil Parekh, chief executive and managing director of Infosys, spoke of his plans to prepare the $18.6 billion software services giant — through its Topaz platform — for the GenAI-led transformation that will take root as global macro-economic concerns ease.
India data center boom to drive 10 million sq ft realty demand by 2026
Cloud Service Providers (CSPs), which furnish information technology infrastructure primarily for data storage and computing power via the Internet, have adjusted their strategies to accommodate AI-driven demand. These providers have also disclosed plans for increased investments to support AI-driven growth.
Google invests 1 billion euros in Finnish data centre to drive AI growth
In recent years, many data centres have been located in the Nordic countries because of the region's cooler climate, tax breaks and abundant availability of renewable power.
‘Gen AI is a friend, not a foe’...is Infosys founder NR Narayana Murthy’s message to critics of the modern technology
NR Narayana Murthy and S ‘Kris’ Gopalakrishnan discuss the transformative potential of Gen AI, the challenges of technology misuse, the benefits of technology adoption in banking, and India's potential to compete with China in business environment.
‘We are witnessing the return of industrial policy now — unlike the past, this is shaped by a globalised world, climate change and AI’
"Right now, in the post-global financial crisis era, and particularly post-Covid, we are seeing the return of industrial policy but it’s taking a different form from the past — it is far more financialised now, it tries to work within the parameters and institutions of a globalised world and it is much more outward-oriented."
Nine in 10 Indian knowledge workers use AI in workplace: Report
A recent study by Microsoft and LinkedIn revealed that 92% of Indian knowledge workers utilize artificial intelligence in the workplace, with 91% of business leaders recognizing the need for AI adoption to remain competitive. The report highlights the impact of AI on work dynamics, career growth opportunities, and the rise of AI-savvy professionals shaping the future workforce.
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.
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