BUSINESS
Fractal AI says this new generative AI tool will make online shopping more targeted
This generative AI tool is expected to increase sales for businesses, cut customer acquisition costs, and also reduce product research time for the customers through its generative AI advisory.
BUSINESS
Former TCS CEO Rajesh Gopinathan earned Rs 29.16 cr in FY23, up by over 13% YoY
The new CEO K Krithivasan will earn a basic salary of Rs 10 lakh each month, but the biggest part of his salary will be the commission that is payable to him based on company performance.
BUSINESS
Why Microsoft is deploying Builder.AI’s Natasha on Teams, despite launching Copilot
Natasha can listen in on conversations across teams in a company and suggest solutions that can be deployed quickly. Whereas Copilot is more of a productivity enhancement tool used for tasks like taking notes, etc.
BUSINESS
Impact of valuation markdown will only be clear in next funding round: Eruditus’ Ashwin Damera
The edtech unicorn said that the valuation mark down came from a limited partner of one of its investors, and not the investing firm itself.
BUSINESS
Higher employee costs of Mumbai is better than high attrition rate of Bengaluru: Startup founders
According to UpGrad MD Mayank Kumar, paying 5-10% higher costs in Mumbai than in cities like Gurugram is still justified by the quality talent and lower attrition rates found in the financial capital.
BUSINESS
3 of India's top 5 IT firms saw revenue per employee decline in last five years
HCLTech reported the sharpest fall of 11% in 5-year CAGR. However, at $55,704 aggregate revenue per employee, it’s still the highest among the top five
BUSINESS
TCS CEO Krithivasan lays out vision for future with focus on AI, cloud, cybersecurity
In the internal note seen by Moneycontrol, Krithivasan reminisced about his early days, calling it a period of "continuous learning"
BUSINESS
Affable, execution-focussed, empathetic: Meet K Krithivasan, who takes charge of TCS today
As he settles into his new role at the corner office, the new TCS chief executive will have to focus on ensuring growth in key markets such as the US and Europe, and striking the right balance between growth-focused large deal wins and small/ mid-sized deals, say analysts.
BUSINESS
India will be a big investment theme for $925 mn fund: QED Investors’ Asia Head
Global fintech VC firm QED Investors, which backs Jupiter and OneCard, said that it is betting big on the India consumer story for the long term. India, according to Sandeep Patil, is a growth hotspot, given the headline GDP growth rate, and it’s the fastest-growing large economy in the world.
BUSINESS
Digital India Bill | Govt considers not intervening between intermediary platforms and users: Rajeev Chandrasekhar
Rajeev Chandrasekhar also said that the draft bill for the Digital India Act is considering "doing away" with Section 79 of the IT Act, 2000 entirely.
BUSINESS
Draft bill for Digital India Act will be open for consultation starting June 7: Rajeev Chandrasekhar
Referring to the EU's imposition of a record fine of $1.3 billion on Meta for violating GDPR's regulations on cross-border data transfers, Chandrasekhar highlighted that the Digital Personal Data Protection Bill, 2022 has similar measures.
BUSINESS
TCS bags Rs 15,000-crore BSNL deal to deploy 4G network across India
The TCS-led consortium which bagged the deal also include Tata Group's telecom gear maker Tejas Networks.
BUSINESS
We’ll cut down the noise around AI and create simple, reliable tools: AWS India President
He added that the company is excited about India because it is the third largest start-up ecosystem, the second largest software vendor ecosystem, has 75 million SMBs, and offers an incredible runway for growth.
BUSINESS
We are investing in India for the next decades: AWS country president Puneet Chandok
"We want to cut through all the noise around generative AI... We are making generative AI easy to use, practical and cost effective for our customers," Chandok speaks on generative AI.
BUSINESS
WazirX NFT platform was non-custodial, users had control of assets: WazirX’s Nischal Shetty
Shetty clarified that there had been “some confusion” around listing NFTs from the WazirX marketplace on other platforms like OpenSea, but that has been resolved.
BUSINESS
KreditBee eyes offline expansion to reduce loan disbursement timelines
The offline stores are expected to come up in various towns and cities in Karnataka by the end of FY24. KreditBee will also hire industry leaders with expertise in offline lending to lead this business vertical.
BUSINESS
Google Cloud introduces AI security features for enterprises, shares road map
With security being at the forefront, talent is a concern for Google. While looking to elevate its in-house security experts, the search giant is also helping other companies nurture and build their security talent pool capabilities.
BUSINESS
1K Kirana Bazaar raises $2-3 million from existing investors, a month after layoffs
According to sources, the funding will help the start-up sustain its business for a while following large-scale downsizing and funding deal cancellations.
BUSINESS
India on right track in shaping global crypto regulations: WazirX co-founder Nischal Shetty
Shetty, co-founder of WazirX and L1 blockchain Shardeum discussed the final release of the new blockchain network, crypto regulations, Binance dispute, hiring and fund-raising plans and his journey as a serial entrepreneur, in an interview with Moneycontrol.
BUSINESS
Microsoft invests in Gurugram-based Builder.ai to develop AI-powered solutions for businesses
Through this partnership, Builder.ai will also be able to accelerate its go-to-market growth for SMBs and enterprises by leveraging the deep product connections across the Microsoft product ecosystem.
BUSINESS
Combining AI to build products is the next phase of growth for blockchain, says Nischal Shetty of Shardeum and WazirX
Shardeum’s engineering team has built an internal ChatGPT plugin to review their codes.
BUSINESS
Cars24, Spinny, Olx Auto, Mahindra First Choice write to MoRTH for changes in new registration portal
Concerns were raised on mandatory GST registration, and rules for multiple deemed ownership transfers, to name a few.
BUSINESS
India will be Coursera’s largest global market by the end of 2023: India and APAC MD
Raghav Gupta said Coursera is piloting a jobs portal named Coursera Hiring Solutions. It is first getting tested in India before being taken global.
BUSINESS
Indian startups cut employee spend by $700 million in FY23
Startups are estimated to shell out $7 billion in employee costs in FY23, according to UnearthInsight data.
