GENAI
Anthropic receives additional $4 billion investment from Amazon
This will bring the total investment by Amazon on Anthropic up to $8 billion while still remaining a minority investor. This goes on to show Amazon's growing genAI investment.
It takes a village to raise an AI world
AI startups are leveraging local talent, cost efficiency and regional diversity to drive innovation. ET decodes the how and why of this trend. The e-learning segment is among the early adopters of GenAI and Kochi-based Mohammed Hisam understands that very well. The founder and CEO of Entri, a vernacular-language platform for job seekers, aims to bridge the skill gap among the regional workforce and AI assistance can unlock new opportunities, Hisam said.
Information technology gets its mojo back with big September wins and October momentum
In the month of September alone, the big IT players signed a total of 26 deals which also includes deals by domestic tech firms such as Infosys, Cognizant and Accenture.
Coforge and HCL Tech: Top IT picks with potential 23% returns each
Indian IT services are poised for growth, fueled by a favorable US business environment and rising technology spending. Despite past immigration challenges, the sector adapted, and with anticipated tax cuts and increased investments in healthcare and banking, companies like Coforge and HCL Technologies are well-positioned to lead.
Happiest Minds profit dips 15.3% on salary hikes, investments
The drop in profit was primarily due to salary increments for most of its employees rolled out from July 1, impacting 2.30% of its profitability, the addition investments towards its new sales team and into its GenAI business.
IT engineering companies on acquisition spree to boost their BFSI business play
Amid rapid BFSI growth, IT engineering firms are acquiring companies to boost their software engineering capabilities. Recent acquisitions by L&T Tech, Persistent Systems, EPAM, Grid Dynamics, and Globant in the US and UK aim to enhance their BFSI presence. L&T Tech acquired Intelliswift, planning to double its revenue, while Persistent bought SoHo Dragon¡¯s assets to solidify a BFSI relationship. These acquisitions, driven by BFSI demand and interest in GenAI, will support platform development, payment integration, and financial compliance across banking, fintech, and insurance sectors.
IBM opens GenAI innovation centre in Kochi
IBM India vice president Vishal Chahal said the centre will feature a new system that caters to the company's international customers. "Higher education institutions and students can conduct product prototypes and experiments at the Gen-AI lab free of cost", Chahal said.
AI agents more effective than GenAI for enterprise productivity: report
With the aid of an AI agent, cases that were previously deemed too complex for GenAI can now be enabled at scale in a secure and effective manner. The study says that GenAI use cases have mostly been limited to standalone applications such as generating personalised ads based on a customer's search history and reviewing contracts, among others.
To AI or not to AI, that¡¯s the question for academic book publishers here
The Indian Reprographic Rights Organization (IRRO) which represents 113 global and Indian publishing houses like Pearson, Oxford, S. Chand etc. said, it is cautious of these factors as AI companies are approaching the body for content outsourcing rights.
¡®India has become an AI hub for startups¡¯
Morgan Stanley, a major US investment bank, is exploring AI-based collaborations with Indian startups. With over 8,000 tech professionals in India, it leverages this talent for global operations. Its AI tools, ¡°Assistant¡± and ¡°Debrief,¡± developed with OpenAI, streamline advisor tasks by reducing administrative calls and aiding meeting summaries. Despite the wide impact of AI, Morgan Stanley continues expanding its workforce in India.
India added 174 GenAI startups in one year: Nasscom report
The report highlighted that despite being in an early stage, India¡¯s GenAI startups have attracted over $750 million in cumulative funding since 2023.
Microsoft's VP of GenAI research to join OpenAI
Microsoft's GenAI research VP, Sebastien Bubeck, is joining OpenAI. While his role at OpenAI is unknown, Microsoft's spokesperson mentioned continuing collaboration. Most of his coauthors on the Phi LLMs project remain at Microsoft. This follows recent high-profile departures from OpenAI, including ex-CTO Mira Murati, but CEO Sam Altman denies any connection to company restructuring.
ET Conversations with Nvidia CEO Jensen Huang, the cult figure powering a GenAI revolution
The Economic Times is delighted to announce an exclusive evening¡ªET Conversations with Jensen Huang¡ªon October 25 in Mumbai. This is the second edition of ET Conversations¡ªthe first featured Sam Altman of OpenAI in June 2023.?? Nvidia¡¯s meteoric rise has been a perfect storm. Some may call it providence. The company in 1999 invented the graphics processing unit (GPU), redefining the possibilities of computer graphics and boosting the growth of PC gaming.
Infosys, Microsoft expand partnership to boost adoption of Microsoft Cloud, GenAI
Infosys and Microsoft have expanded their partnership to focus on generative AI and cloud solutions. Infosys will integrate Microsoft's generative AI tools into its existing solutions to offer clients better cost-efficiency, scalability, and agility.
PwC India ties up with Meta for GenAI solutions
The collaboration aims to drive the widespread use of Generative AI (GenAI) in both enterprise and public services, positioning India as a leader in digital innovation.
GenAI projects are influencing cloud adoption: HCLTech study
Commissioned by HCLTech, the study of the report was conducted by the global analyst firm, ESG via interviews with business and technology leaders. It offers an analysis of how enterprises are reshaping their cloud strategies to drive innovation and business transformation.
HP unveils solution to share AI compute capacity among its devices
Enterprises will be able to allocate and utilise its GPU resources among HP AI devices, reducing reliance on costly cloud access, the company said. The PC devices brand has doubled down its play as a GenAI software and services provider with the HP AI Studio which offers tools, data and compute for data scientists to accelerate LLM development while also detecting biases.
90% of financial institutions focusing on AI, GenAI for innovation: PwC India report
?? As per the PwC India report titled, 'Mapping the FinTech innovation landscape in India' data analytics also continues to emerge prominently across nearly 74 per cent responses, underscoring its integral role in driving insights and decision-making within the financial services (FS) sector.
¡®Sachet¡¯ covers now guard against cyber fraudsters using AI
A recent study by Deloitte said that India¡¯s cyber insurance market worth $50¨C60 million in 2023 is expected to grow at an annual rate of 27¨C30% in the next five years.
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