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.
BUSINESS
Indian engineering services companies remain a bright spot despite slowdown at IT peers
Persistent Systems, L&T Technology Services, Cyient, KPIT Technologies, and Tata Elxsi will benefit from this trend, driven by large deal wins, continued investment from customers for digital engineering services for their end products, and inorganic growth through M&As.
BUSINESS
After five-day work from office, now TCS sends sudden transfer notices
IT employee union NITES has filed a formal complaint with the Ministry of Labour and Employment against TCS alleging unethical transfer practices based on 180-plus complaints received.
BUSINESS
Corporate Crossings: Former LTI CMO Peeyush Dubey to join Tech Mahindra as new CMO
Dubey had previously also been a global marketing head with Infosys, making him yet another Infosys veteran being hired by Tech Mahindra's CEO designate Mohit Joshi in a leadership role.
BUSINESS
Nordic region emerges as pocket of hope for Indian IT as other markets slow
Europe-specific tech partners have not been able to manage the cost inflation situation and the pricing situation as well as Indian players, analysts said.
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
Tears of joy, elated investors, promises of going global: How Mamaearth went on to ring the bell
Early investors, including Peak XV and Stellaris Venture Partners, told Moneycontrol that they are not exiting any time soon as they see huge potential and headroom for growth.
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
Intel partners with 8 Indian manufacturers for ‘Make in India’ laptops
The eight manufacturers include Bhagwati Products, Dixon Technologies India, Kaynes Technology India, Optiemus Electronics, Panache Digilife, Smile Electronics, Syrma SGS Technology and VVDN Technologies
BUSINESS
Hurun Philanthropy List: HCLTech's Shiv Nadar is India's most generous, four Infosys co-founders emerge as biggest philanthropists
Wipro’s Azim Premji donated an additional Rs 1,290 crore in FY23, his total donations stood at Rs 1,774 crore
