INFOSYS TK ELEVATOR PARTNERSHIP
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IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
![After tennis, Infosys Topaz to drive AI-led innovation of Formula E racing](https://img.etimg.com/thumb/msid-109981479,width-100,height-75,resizemode-4/tech/technology/after-tennis-infosys-topaz-to-drive-ai-led-innovation-of-formula-e-racing.jpg)
After tennis, Infosys Topaz to drive AI-led innovation of Formula E racing
Infosys partners with ABB FIA Formula E as digital innovation partner, aiming to engage 500 million fans by 2030. The collaboration focuses on fan engagement, sustainability, and technology innovation, including AI-powered insights and real-time data.
![Cobranded credit card rush; threat of complete ban on offshore crypto apps](https://img.etimg.com/thumb/msid-106743503,width-100,height-75,resizemode-4/tech/newsletters/morning-dispatch/cobranded-credit-card-rush-ban-threat-on-offshore-crypto-apps.jpg)
Cobranded credit card rush; threat of complete ban on offshore crypto apps
Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction through large consumer facing internet companies. This and more in today’s ETtech Morning Dispatch
![Infosys, Shell UK tie-up to adopt immersion cooling services for data centers](https://img.etimg.com/thumb/msid-105629040,width-100,height-75,resizemode-4/tech/information-tech/infosys-shell-uk-tie-up-to-adopt-immersion-cooling-services-for-data-centers.jpg)
Infosys, Shell UK tie-up to adopt immersion cooling services for data centers
The latest partnership will leverage the AI-first offering Infosys Topaz and Shell Immersion Cooling Fluid, designed to maximise the energy efficiency and performance of data servers and IT components.
![Infosys set to tweak its IoE unit structure to weave in GenAI tech](https://img.etimg.com/thumb/msid-105571175,width-100,height-75,resizemode-4/tech/information-tech/infosys-set-to-tweak-its-ioe-unit-structure-to-weave-in-genai-tech.jpg)
Infosys set to tweak its IoE unit structure to weave in GenAI tech
The new IoE organisation structure will be headed by AVP & global delivery head – IOT (Internet of Things) Vikas Gupta, along with AVP and Senior Principal Technology Architect, Krishnananda Shenoy.
![Infosys partners with urban mobility firm TK Elevator to tap generative AI solutions](https://img.etimg.com/thumb/msid-105421959,width-100,height-75,resizemode-4/tech/information-tech/infosys-partners-with-urban-mobility-firm-tk-elevator-to-tap-generative-ai-solutions.jpg)
Infosys partners with urban mobility firm TK Elevator to tap generative AI solutions
This follows a series of recent partnerships made by Infosys to boost digital transformations across its customers globally. Earlier this month, it tied up with Amazon Web Services (AWS) leveraging its cloud platform Infosys Cobalt to accelerate cloud transformation in financial companies across Europe, Middle East and Africa.
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Strong corporate governance crucial for sustainable success of startups: Nandan Nilekani
Nilekani, who had served as the chairman of the Unique Identification Authority of India (UIDAI), emphasised the relevance of governance for startup founders, highlighting that it should be a top priority.
Former Swiggy CTO Dale Vaz secures seed funding for new wealthtech venture
Swiggy’s former chief technology officer Dale Vaz on Friday said he had secured seed funding from venture capital funds Accel and Elevation Capital for his new firm, Aaritya Technologies.
PhonePe enters stockbroking; Swiggy tests bundling for ‘One’ subscriptions
PhonePe said in a statement that Share.Market will elevate discount broking through ‘WealthBaskets’, a market research-based technology platform that will provide stock market intelligence.
Game, set, matched: decoding the footprint of Indian IT on global sports
If all the world’s a playground, IT majors are drawing up the rulebook. From sponsoring tournaments to creating apps and websites or providing analytics, it’s hard to escape the footprint Indian IT has on global sports.
India Inc flagships are giving older chiefs more time at the helm
Senior executives in their late 50s and 60s are receiving longer tenures in India's business sector after the COVID-19 pandemic. Older CEOs of companies having mature and complex business streams and balance sheets are being appointed or having their appointment terms extended by risk-averse India Inc boards who increasingly value perseverance over panache.
View: Adani Group isn’t India, but its troubles mirror the nation’s woes
Whatever the outcome of the gladiatorial contest, one thing is clear: From airports and roads to green hydrogen, data centers and mining, the five companies that the conglomerate was planning to float in the public markets between 2026 and 2028 may have to be incubated by the flagship a lot longer. That will cost.
Govt raises incentive for chip makers; Foxconn chief to meet PM Modi in Nov
Nine months after the government announced an incentive scheme to encourage semiconductor and display manufacturers to build plants in India, the Union Cabinet has tweaked the incentives to make the scheme more attractive
Wipro sacks 300 for moonlighting; Pepperfry eyes 2023 IPO
On August 22, Wipro’s executive chairman Rishad Premji kicked off the ongoing controversy over moonlighting – taking up more than one job at a time – terming it “cheating, plain and simple”. On Wednesday, he told us the company has since sacked 300 employees who were found to be working for its competitors on the side.
VSS says focus is on profits, not stock; wider mandate for Vision Fund India head
Vijay Shekhar Sharma had been facing pressure from shareholders ever since Paytm's disastrous IPO debut last year.
PhonePe to launch ecomm app on ONDC; Web3 draws early-stage investors
It made attempts previously with offerings such as Switch, loosely based on the ‘super app’ concept, and Stores, which was aimed at facilitating hyper-local discovery of merchants.
Is Meta losing its way?
The company is pouring billions into its virtual reality division in hopes of Big-Banging the metaverse into existence, but back in the real world, revenue and user growth are stalling.
Sequoia closes largest India, SEA fund at $2.85B; concerns over proposed IT rules changes
The storied VC firm has now closed this fund, and will invest $2 billion of it in Indian startups and the remaining $800 million across Southeast Asia.
Infosys, TK Elevator announce workplace transformation deal
Infosys will provide Artificial Intelligence-powered IT helpdesk services, digital workplace management, as well as network services, powered by its Cobalt suite, according to an exchange filing.
Automatic for the people: robots in the workplace
The move comes amid a liquidity squeeze following the Reserve Bank of India’s (RBI) decision to hike interest rates, even as startups are seeing increased customer stickiness.
CCI studies 'ecommerce nexus’; IT workers trickle back to office
Competition Commission of India is studying documents found during the raids that suggest financial dealings between the ecommerce majors and their preferred sellers.
Exclusive interview with Infosys CEO; tax officials email foreign tech firms on GST
“We don't see anything which gives me any concern”. But he added, “As we get more colour, we will look at (revisiting the revenue guidance) in the future.”
Amazon’s Amit Agarwal elevated to head emerging markets
Manish Tiwary to run day-to-day India operations
Byju’s may go public with SPAC; Indian startups raised $6.8B in Nov
The company is in advanced negotiations to go public by merging with a so-called blank cheque company that raised more than $1.3 billion in an IPO in February and trades on the New York Stock Exchange.
Infosys extends digital innovation partnership with Australian Open
The extended collaboration with Tennis Australia will introduce enhanced broadcast match statistics and new initiatives to make tennis more accessible for all, while continuing to develop innovative digital stakeholder experiences.
Stocks in the news: SBI Life, UCO Bank, Sun Pharma, TCS, and IDBI Bank
CPPIB is set to sell a 2 per cent stake in SBI Life Insurance Company worth Rs 2,274 crore through the stock exchange platform on Thursday.
Cognizant to hire 100,000 people to mitigate the impact of elevated attrition
Cognizant's attrition is higher than the industry average. For the quarter ended June, TCS's attrition rate stood at 8.6%, Infosys' at 13.9%, Wipro at 15.5% and HCL Tech's at 11.8%. Accenture had reported 17% attrition in the March to May quarter.
ET Power of Ideas' elevator pitches kick off today
Over 55 panelists across Delhi, Mumbai and Bengaluru will listen to the ideas in sectors ranging from education to healthcare to ecommerce to help pick India’s next Infosys and Flipkart.
Infosys to be global technology services partner for ATP
As part of this partnership, Infosys will become the Global Technology Services Partner and Platinum Sponsor of the ATP World Tour, Infosys said in a statement.
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