AUTOMATED SYSTEM
Persistent shares surge 3% post acquisition. Ticks all right boxes, says ICICI Securities
Persistent Systems' shares skyrocketed to a record high after sealing a deal to acquire Starfish Associates, boosting their AI offerings.
Persistent Systems buys US software firm Starfish Associates for Rs 173 crore
Persistent Systems said in a statement, "Known for its cutting-edge Enterprise Communications automation platform, Starfish Associates caters to the world’s largest enterprises including many Fortune 500 companies." Following the acquisition announcement on Wednesday morning, Persistent’s stock hit a 52-week high to 4,596 apiece rising over 2% on the BSE.
Samsung Electronics workers to strike on July 8-10, union says
A workers' union at Samsung Electronics in South Korea plans a strike from July 8-10 to push for a more transparent bonus and time-off system, seeking equal partnership with the company. The strike aims to disrupt production, with analysts noting limited impact on chip output due to automation. Union membership surged after Samsung pledged to support organized labor in 2020.
Transforming multi unit retail operations with No Code
The retail industry in India is subject to the vagaries of the economy and operates in a competitive market. It needs a relentless focus on operational efficiency to gain any edge.
As tech grip on medical industry becomes stronger, it creates space for new jobs profiles
Ebenazer Paul highlights the increasing demand for skilled professionals in medical billing and coding, driven by technological advancements and evolving healthcare regulations. The industry offers diverse opportunities for growth and specialization, with a focus on continuous education and certifications to stay competitive.
Automating repetitive tasks: AI for invoicing, inventory, and more
World MSME Day: The ability of AI to manage repetitive, time-consuming, and error-prone tasks revolutionizes business operations, resulting in accuracy, speed, and cost savings.
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Reddit to update web standard to block automated website scraping
AI startups face scrutiny for bypassing Reddit's updated scraping rules. Plagiarism accusations against firms like Perplexity highlight the need for stricter data usage regulations. Reddit's cooperation with TollBit and the Internet Archive ensures non-commercial access while maintaining transparency. The involvement of Alan Barona underscores the importance of ethical content sourcing in AI development.
DGFT implements automated system for adhoc input-output norms fixation
The Directorate General of Foreign Trade (DGFT) has introduced a new automated system to establish adhoc input-output norms, aimed at facilitating foreign trade procedures. This initiative allows exporters to import duty-free raw materials for manufacturing goods meant for export under advance authorisation. Exporters can now apply for customized adhoc norms through a rule-based, automated process if standard norms do not meet their specific requirements.
Revenue automation startup MeetRecord raises $2.7 million funding from SWC Global, others
MeetRecord, based in Bengaluru, offers AI-powered analysis of conversation data from emails and calls to improve sales conversions. Prior to this pre-series A funding round, the company had raised $310,000 in 2021 from All In Capital and Powerhouse Ventures.
Sequoia backs AI startup that automates engineering tasks
Matan Grinberg, a former physics PhD student, founded Factory, an AI startup valued at over $100 million.
Stocks in news: Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma
Domestic markets start positively with Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma in focus. ZEE appoints acting CFO. Tata Technologies partners with Microsoft. Wabco to sell ZF equity. Craftsman Automation launches QIP. Fosun Pharma reduces stake. Vedanta monetises steel business. Goldman Sachs sells One 97 shares; Vodafone sells Indus Towers shares; Generative AI hackathon.
RBI’s ASISO system faces glitch
The RBI faced a technical glitch in the Automatic Sweep-In and Sweep-Out (ASISO) facility, impacting banks' funds visibility. Daily money market data publication was delayed. The RBI is resolving the issue to reconcile banks' outstanding transactions. Market participants, bank treasury executives, and sources are monitoring the situation. The glitch occurred before the usual 9 a.m. data publication time.
Suzlon Energy, PB Fintech, NHPC among 19 midcap additions by mutual funds in May
Top mutual funds like SBI Mutual Fund, Axis MF, Nippon India MF bought 19 midcap stocks, including Suzlon Energy, NHPC, and PB Fintech, the parent of online insurance aggregator Policybazaar.
RBI suffers system failure in automated system for banks’ liquidity management
The Reserve Bank of India faced a technical glitch in the ASISO facility, impacting funds visibility. Daily money market operations data publication was delayed. RBI is working to reconcile banks' outstanding lending or borrowing, ensuring SDF and MSF bids are managed effectively.
Army launches integrated generator monitoring, control system 'Vidyut Rakshak'
The Indian Army has launched 'Vidyut Rakshak', an integrated generator monitoring, protection, and control system developed by the Army Design Bureau (ADB). This tech-based innovation, part of the Army's 'Year of Tech Absorption', utilizes Internet of Things (IoT) technology to monitor, predict faults, and automate manual operations of all existing generators, regardless of type or make. The system aims to save manpower and signifies the Army's commitment to leveraging technology for transformative change. Vidyut Rakshak was showcased during Aero India 2023 and has already been inducted into the Indian Army.
Robotics company Difacto raises $4.8 million from Stakeboat Capital
Bengaluru-headquartered Difacto will use the funds to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.
Personalising palates on cloud nine
Cloud kitchens, or virtual kitchens, are transforming the dining industry by operating exclusively for delivery or takeout, leveraging technology to optimize efficiency and cater to modern diners' needs for convenience, variety, and personalization. India's online food delivery market, valued at ₹410.97 billion in 2021, is projected to reach ₹1,845.76 billion by 2027, growing at a CAGR of 30%. Cloud kitchens excel by using data analytics to understand customer preferences, enabling chefs to experiment with new dishes and operate cost-effectively, enhancing the overall dining experience.
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
That’s not funny: Why AI doesn’t get the joke
Despite the advances in technology, artificial intelligence has not grown a sense of humour. That is no laughing matter.
DiFACTO raises Rs 40 crore Series A funding from Stakeboat Capital
DiFACTO Robotics and Automation Private Limited has secured Rs 40 crore from Stakeboat Capital in Series A round to fuel growth and innovation in robotic automation solutions.
Airbus fits electric truck with airliner cockpit to study safer taxiing
Airbus unveiled a truck with A350 controls at VivaTech, showcasing automated taxiing technology. The electric vehicle can operate autonomously, avoiding collisions on the ground using sensors and onboard computers. Airbus aims to enhance airport safety amid recent jetliner ground collisions, with plans to test the system on live airports. LiDAR technology may provide further automation capabilities, potentially improving aircraft safety.
We have lots of tailored solutions for MSMEs to drive efficiency and cut costs: Bar Code India's Ram Bhutani
Bar Code India (BCI) claims to leverage over 25 years of expertise to deliver cutting-edge software and hardware solutions that enhance supply chain and manufacturing operations. At the core of BCI's unique selling propositions are its indigenous products like RFID readers and IoT sensors.
Pune: Automatic Rs 10,000 challan at petrol pumps for not having this document. Check latest rule
Pune Traffic Rule: Authorities in India working on stricter regulations to reduce vehicular pollution, promoting eco-friendly fuels and electric vehicles. Pune authorities have developed automated system using advanced cameras at petrol pumps to penalize vehicles without valid PUC certificates. Waiting for official confirmation on timeline for implementation. Drivers may have a grace period to renew PUC certificates.
Amazon's self-driving robotaxi unit Zoox under investigation by US after 2 rear-end crashes
Both crashes happened during the daytime hours, and the motorcyclists suffered minor injuries. In both cases, the agency confirmed that each of the Amazon vehicles was operating in autonomous mode leading up to the crashes.
What is the best way to regulate algo trading and make it safer for retail traders?
For retail traders to effectively compete, access to algorithmic trading must be democratised. This involves not only continued regulatory backing, but also the availability of practical algo tools that provide similar levels of automation and discipline as those used by institutional traders and professional fund managers.
Storage Technologies stock lists with 90% premium on BSE SME platform
Storage Technologies Stock Price: The IPO, which was completely a fresh equity issue of 38 lakh shares, received a bumper response from investors with an overall subscription of over 200 times at close.
ET has the lowdown on five of the most exciting startups at ARTPARK
Strider Robotics develops agile legged robots for rough terrains. Hones quadruped robot platform. Emphasizes motor drivers, robotic joint actuator, and actuator testing. Includes pneumatic soft gripper, VayDyn, and autonomous drone platforms.
Indigenous robotic solutions get an edge as enterprises look for customised AI-based automation
Addverb expands into healthcare segment with 'Heal' robots and exoskeletons, focusing on USFDA Class 2 certifications. Sheshadri highlights the competitiveness of Indian developers in providing advanced robotic solutions.
Here's why your flights from Mumbai Airport are getting delayed for over 2 hours
Mumbai's Chhatrapati Shivaji Maharaj International Airport is experiencing delays of up to 2 hours in flight operations due to issues with its air traffic radar automation system. The system faced downtime from 3 pm to 5:15 pm, causing a backlog of departing aircraft. The outdated radar system has been plagued by glitches and malfunctions, prompting calls for comprehensive upgrades to ensure efficient and safe air traffic management. In other news, Mumbai Airport Customs seized over 3.70 kilograms of gold worth Rs 1.97 crore in nine separate cases.
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