BUSINESS
Tech Mahindra appoints former Infosys EVP Richard Lobo as Chief People Officer
This will be a global role for Lobo, coming as a part of Tech Mahindra’s ongoing leadership restructuring under new CEO Mohit Joshi. Moneycontrol had earlier exclusively reported on this development.
TECHNOLOGY
For Indian IT, 2023 was one of the worst years since Global Financial Crisis
Industry experts see the impact of the ongoing market conditions for the IT sector spilling over to 2024. The uncertainty around discretionary spending will continue for at least the next six months.
TECHNOLOGY
Why Wipro sued its former CFO Jatin Dalal: Five points from the lawsuit
In a permanent injunction petition filed against Dalal at Bengaluru’s city civil court, the IT services major is also seeking damages worth Rs 25.15 crore along with 18 percent interest per annum until the payment is done
TECHNOLOGY
Wipro lawsuit says former CFO Jatin Dalal breached non-compete clause by joining Cognizant, seeks Rs 25 crore in damages
Wipro is seeking damages of Rs 25.15 crore from Dalal, along with 18 percent interest per annum until the date of payment, according to the lawsuit copy sourced by Moneycontrol.
TECHNOLOGY
Infosys loses $1.5 billion AI contract from global customer
This comes less than two weeks after Infosys' former CFO, Nilanjan Roy, suddenly resigned.
TECHNOLOGY
Sam Altman’s Worldcoin discontinues offline Orb verification services in India: MC Exclusive
This is a temporary move as the company is working on developing a bespoke solution to ease registrations in the country. Worldcoin was unable to foresee and handle the huge demand and crowd at Orb locations, sources privy to the developments told Moneycontrol.
TECHNOLOGY
Global AI Conclave: India may have balanced view on AI regulations focussed on citizens and markets, say panellists
Both Microsoft and SAP have dedicated internal AI ethical committees of experts reviewing the impact of every AI element being introduced in their software products.
TECHNOLOGY
Global AI Conclave: Microsoft, Google, IBM call language inclusivity the biggest population scale AI use case in India
According to Amitabh Nag, CEO of Bhashini, language will be one of the largest use cases of AI, which even though diverse, will impact users immediately
TECHNOLOGY
After country head's exit, AWS assigns Jaime Valles to oversee India operations
AWS India and South Asia's interim country head Vaishali Kasture's last day of work will be on April 1, 2024.
TECHNOLOGY
Generative AI is hyped, yet to come in a big fashion in engineering services: Cyient MD Krishna Bodanapu
Bodanapu expects Cyient’s revenue to touch $1 billion by FY25, driven by increased technology spending by customers and improving the deal mix.
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
Google’s ‘multimodal’ AI model Gemini: What it means for enterprises?
Gemini brings Google back into AI competition. Enterprise customers finally have a worthy alternative to GPT-4, say analysts.
BUSINESS
Wipro rejigs growth organisation, chief growth officer departs
The resignation of Stephanie Trautman, who joined Wipro three years ago, is the company's 10th top-level exit in this calendar year.
TECHNOLOGY
Microsoft India to hike prices of business software by 6% from Feb 1
This will be the third consecutive year of price increase by Microsoft in India amidst challenging macro environment. The move is to align pricing between India and the Asian region, the company said.
TECHNOLOGY
European firms to increase generative AI investments by 115% in 2024: Infosys report
According to the report, European companies’ investment into generative AI will touch $2.8 billion by next year, though they remain cautious. The investment pace will be slower than North America, which is expected to invest $6 billion by 2024
TECHNOLOGY
Around 79% of ChatGPT’s enterprise customers come from Microsoft Azure-OpenAI partnership
Most of the customers are still exploring the technology at proof-of-concept stages and the real picture will only emerge once it completes a year and yearly subscription renewals happen, say analysts
TECHNOLOGY
Anti-money laundering, CFT norms applicable to offshore crypto exchanges like Binance, Coinbase: MoS of Finance
The finance ministry said that the process of registration for off shore crypto exchanges and virtual digital asset service providers has been initiated
TECHNOLOGY
IBM launches new quantum processors, details plans to integrate generative AI with quantum computing
The technology giant announced ‘IBM Quantum Heron’, a new series of utility-scale quantum processors, its new Quantum System Two and discussed its next 10-year plan to improve quality of these processors.
BUSINESS
Former TCS CEO Rajesh Gopinathan joins IIT Bombay as Head of Translational Research and Entrepreneurship
A translational research centre to support transition of IP from lab to industry has also been created recently, the institute said in a statement
TECHNOLOGY
Hits and misses: How ChatGPT’s first year to lure enterprise customers went
According to market intelligence firm UnearthInsight’s estimates, accessed by Moneycontrol, there are over 22,000 to 25,000 B2B enterprise adopters of the Azure OpenAI and GPT-4 enterprise versions. In India, less than 55-75 listed companies and around 300 startups are using GPT-4.
TECHNOLOGY
Indian IT firms spending Rs 1.97 crore on average to train employees every year
According to India’s Best Workplaces in IT & IT-BPM 2023 survey, around 68 percent of the companies are closely involved in the development of employees across levels. Among IT services companies, Accenture and Wipro make it to the top 25
BUSINESS
Coinbase is hiring for tech roles in India despite halting exchange services
Crypto companies like Coinbase and Gemini are setting up tech talent hubs in India.
BUSINESS
Charges against Binance may sharpen regulatory gaze on Indian crypto industry: Experts
The crypto exchange was charged with operating an unlicensed money transmitter business, conspiring, and breaching sanction regulations, among others.
BUSINESS
Sam Altman’s ouster unlikely to impact OpenAI’s partnerships with IT companies: Experts
IT services companies already have billions of dollars at stake, earmarked to be invested in strengthening their AI capabilities and training workforces over the next couple of years.
