AI ML FINANCIAL GROWTH
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.
Indian financial services sector is experiencing a significant upswing: Inventure Growth & Securities’ Kanji B Rita
India's financial services sector is poised for sustained growth. By leveraging the demographic advantage, embracing technological advancements, and prioritizing financial inclusion, a robust and inclusive financial ecosystem can be built, says Inventure Growth’s Kanji B Rita.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
Aris Infra plans to raise Rs 600-700 crore via IPO
Aris Infra, a Mumbai company using technology to streamline construction material procurement, is planning an IPO to raise Rs 600-700 crore. The company has attracted investment from prominent individuals and prestigious financial institutions including Think Investments, TPG Capital, and BlackRock.
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.
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.
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Salesforce launches public sector division in India; unveils Made-for-India digital lending solution
Salesforce launched its public sector division in India, introducing a digital lending solution tailored to the market's needs. The move underscores the company's commitment to India, with insights from an IDC study projecting significant job creation and revenue generation. CEO Arundhati Bhattacharya highlighted India's digital transformation potential, noting an urgency for technology adoption. The new offerings aim to enhance citizen experiences and streamline consumer lending processes in the country.
GreyLabs AI mops up $1.5 million in funding round led by Matrix Partners India
Ofbusiness founder Vasant Sridhar, MoEngage founder Narasimha Reddy, Uni Cards founder Nitin Gupta, and Scapia founder Anil Goteti, among others who participated in the funding round for the speech analytics platform for financial institutions.
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.
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.
Online travel aggregator Ixigo sets Rs 88-93 price band for IPO to raise Rs 740 crore
The company filed its draft red herring prospectus (DRHP) with the markets regulator in February and received approval in May. Ixigo IPO is scheduled to launch on June 10 and close on June 12. The company aims to raise a total of Rs 740 crore through the public issue.
White collar hiring improving as demand from Oil & Gas, Banking, FMCG sectors rises: Report
White collar hiring in major sectors like Oil and Gas, Banking, and FMCG showed steady improvement, with a 6% increase in May compared to April, driven by Healthcare and Travel and Hospitality. However, overall white-collar hiring was down by 2 per cent year-on-year, with declines in IT, BPO, and Education sectors. Smaller cities outperformed major metropolitan areas, with strong demand for senior professionals contributing to a healthy growth in opportunities.
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.
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.
ET Road Safety & Safer Mobility Forum 2024: Steering a smarter, safer, and sustainable supply chain by accelerating safety tech in logistics
The ET Road Safety & Safer Mobility Forum 2024 gears up for its third roundtable, focusing on ‘Enhancing Safety Standards in Modern Logistics and Supply Chain.’ This session will put intelligent AI solutions in the spotlight, showcasing how they can revolutionise safe practices within the ever-evolving logistics landscape. By prioritising both road and fleet safety, the forum aims to create a more secure and efficient supply chain ecosystem.
How Jocata is helping financial services industry move from legacy systems to AI-powered solutions
Jocata’s low-code platform is driving the future of enterprise lending and embedded finance, says Prashant Muddu, Managing Director & CEO.
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.
Senior-level adtech and martech roles combine creativity, tech and business sense
The adtech (advertising technology) and martech (marketing technology) sectors require a unique balance of creativity, business acumen, and technological skills, especially at senior levels. Companies seek professionals with expertise in data analytics, AI/ML, and digital marketing, as these roles are crucial for connecting brands with customers and driving hyper-personalization.
FMCG giants pivot to premium: Nestle and ITC lead with innovative strategies
FMCG giants like Nestle India and ITC are adopting innovative strategies to tap into the growing demand for premium products. Nestle plans to hire tasters and connoisseurs for its super-premium Nespresso coffee and boutiques, while ITC is leveraging AI and ML to predict demand and recommend products for its premium portfolio, including Fabelle chocolates and skincare.
Aurum Analytica: Transforming real estate with Data Science and AI
Aurum Analytica, a data analytics firm in real estate, uses data science and AI. CEO Prakash Tejwani and co-founders Sahil and Vishal discuss the company's mission and growth.
India’s electronic manufacturing service industry is humming — now to stick to the flight path
India's competitiveness will depend on continuing reforms, de-bureaucratisation, contract enforcement, effective dispute resolution mechanisms, last-mile facilitation, building of sectoral ecosystems, and governance law and order stability.
To AI or not to AI? Why artificial intelligence deciding your loan application makes regulators nervous
AI & ML are now ubiquitous in banks and financial institutions as it helps the companies improve credit assessment and reduce frauds. Though these models have some risks — and the regulators are rightfully concerned — the good news is these can be resolved without much trouble.
Financial Intelligence Unit arms itself with AI, ML tools to check money laundering
India's FIU enhances anti-money laundering efforts with AI-powered FINnet 2.0. The system analyzes suspicious transaction reports, assigns risk scores, and collaborates with various enforcement agencies using advanced technologies for efficient financial intelligence processing.
View: In today’s tech-driven landscape, we need new economic thinking on equity and sustainability
In a hyper-connected world, income inequality, debt burdens, and social disparities persist. Urgent innovative strategies are essential to address widening gaps and shift the focus to stakeholder value for human development, Sam Pitroda writes.
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