TECHNOLOGY
Very few jobs will be completely replaced by AI: IBM HR chief Nickle LaMoreaux
In an exclusive interview with Moneycontrol, Nickle LaMoreaux, IBM’s Chief Human Resources Officer, said AI will only automate certain tasks and not replace employees at Big Blue, helping them focus on work that lets them move up the value chain.
TECHNOLOGY
Flipkart's Binny Bansal launches OppDoor, his latest e-commerce startup
The company is registered in Singapore and was incorporated in May 2021, per filings. OppDoor was earlier called Three State Ventures Pte Ltd, which is Binny Bansal’s venture capital firm that operates from Singapore.
TECHNOLOGY
Infosys alleges unfair employee poaching by Cognizant, sends missive to the firm
The standoff with Cognizant comes at a time when both Infosys and Wipro are battling a tough business environment coupled with senior management attrition.
BUSINESS
Wipro shares abuzz on Sanjay Jalona hire, company denies move
The move comes at a time when incumbent CEO Thierry Delaporte has been under pressure for middling growth, falling margins and a raft of top level exits.
TECHNOLOGY
SoftBank-backed FirstCry, Ola Electric to file draft IPO papers in the next week
While FirstCry is likely to list only after the general election in 2024, Ola Electric's management has already begun roadshows with domestic and international investors
TECHNOLOGY
Udaan fires over 100 employees days after securing $340 million in capital
This is the second instance, in the last 13 months, where Udaan has sacked staffers soon after raising a new round of capital.
TECHNOLOGY
AWS India’s interim country head Vaishali Kasture quits
This comes seven months after she was elevated in the role, following Puneet Chandok’s exit.
TECHNOLOGY
BNPL startup ZestMoney to shut down, to let go of remaining 150 employees
The move to shut down ZestMoney, which was last valued at $450 million, comes months after it raised fresh capital from Quona Capital, Omidyar Network India, Flourish Ventures, Zip and Scarlet Capital.
TECHNOLOGY
Byju Raveendran likens current crisis to war on multiple fronts, says true entrepreneur is a war leader
In a leadership huddle, CEO Arjun Mohan unveiled Byju's 3.0, where he stressed the need to sell the right products to the right people without maximising sales
BUSINESS
Byju Raveendran to meet senior management as liquidity situation turns precarious, banks on borrowings, asset sale
Sources says Byju Raveendran is confident of pulling through via asset sales, without depending on capital from existing investors
BUSINESS
Eruditus plans foray into study abroad segment in 2024, says CEO Ashwin Damera
Damera added that while many companies tie up with tier-2, -3 and -4 institutions, Eruditus will likely send students to top 100 or 150 universities of the country it focuses on
TECHNOLOGY
AI can be a major threat to humanity, deepfakes create disturbances in society: Ashwini Vaishnaw
In the case of AI, there are multiple threats. This is a significantly more complex thing compared to privacy regulation because AI can be a major threat to humanity itself, says Vaishnaw
BUSINESS
Exclusive: India’s electronics manufacturing is ready to move from import substitution to export-led growth, says Ashwini Vaishnaw
Electronics & Information Technology Minister Ashwini Vaishnaw said that another important factor in increasing local value addition would be to get the electronics design ecosystem up and running in the country.
TECHNOLOGY
Exclusive: Vande Metro, circular rail to ease Bengaluru's traffic congestion: Ashwini Vaishnaw
Railways to complete survey and project report for 287-km ring rail in Bengaluru in 7-10 months, says Vaishnaw
BUSINESS
AI will augment human capabilities, not replace us: Infosys founder Narayana Murthy
Deepfakes are an issue or even in the context of any technology getting into an evil mind, that's always an issue, says Infosys founder Narayana Murthy
BUSINESS
I would leave it to the individual: Infosys co founder Kris Gopalakrishnan on working 70 hours a week
Gopalakrishnan's words come at a time when Infosys founder NR Narayana Murthy's statement that youngsters should work 70 hours a week stirred controversy among India's netizens.
BUSINESS
India must spend $1 billion annually for 20 years to train teachers: Narayana Murthy at Infosys Prize
A professor from IIT Kanpur who has worked on air pollution is among the six winners of the Infosys Prize 2023, given by the Infosys Science Foundation
BUSINESS
Byju's settles dispute with Davidson Kempner as Ranjan Pai buys out debt in Rs 1,400-cr transaction
An entity of Pai purchased all the NCDs of Davidson Kempner on NSE Cbrics platform, putting an end to the longstanding troubles between the edtech and investment management firm Davidson Kempner. As per the terms of the deal, Pai will also secure a seat on Aakash's board.
BUSINESS
MC Exclusive: Tech Mahindra may rope in former Infosys EVP Richard Lobo as new CHRO
An Infosys veteran, Lobo is currently an HR consultant and strategic advisor at embattled edtech unicorn BYJU’s. He was Tech Mahindra CEO-designate Mohit Joshi's colleague at Infosys.
BUSINESS
MC Exclusive: SoftBank has marked up valuations of Swiggy, FirstCry, Ola Electric, says Vision Fund CFO Navneet Govil
Navneet Govil says twin Vision Funds have been stabilising in the past two quarters despite macro headwinds; calls out India portfolio as being a better performer relatively
BUSINESS
Wipro makes work from office thrice a week mandatory from November 15, warns errant employees of consequences
Wipro has warned employees that they would face consequences starting January 7, 2024 if they consistently fail to adhere to the new hybrid work policy.
BUSINESS
The TCV puzzle: Why deal wins didn’t translate into revenue growth for Indian IT firms
According to experts, while the TCV is a good metric that reinforces long-term sustainability, relevance of business, and stickiness in client relationships, this metric in isolation does not make sense in today’s context.
BUSINESS
Exclusive: SoftBank takes Indian founders on AI tour in Silicon Valley
AI tour in Silicon Valley: The meetings come at a time when SoftBank has begun to invest actively again, with a focus on the AI trend, and has also been egging portfolio companies across sectors to see how they can use generative AI in their product offerings.
BUSINESS
Byju's CFO Ajay Goel quits, to head back to Vedanta to oversee demerger
Byju's said it has made new appointments in its finance function, with Pradip Kanakia as senior adviser and Nitin Golani, currently the President-Finance, who will take charge as India CFO.
