BUSINESS
Govt’s AI advisory regressive, clarification vague: Experts
Experts say the advisory and certain terms used in the subsequent clarification by the Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar on the matter, are ambiguous and vague.
BUSINESS
Psychometric tests, higher score, hand-written codes: Tech companies make freshers sweat for an offer
Placement officials told Moneycontrol that companies are demanding expert-level skills and coding flair from college graduates.
BUSINESS
US-based fintech HighRadius sacks CTO Tanuj Vohra, say sources
Rationale behind the decision to part ways with Vohra are “misalignment of priorities” and “unproductive working relationship"
BUSINESS
IT companies say GCCs won't hit revenues, forge more tie-ups
TCS and Capgemini have facilitated the establishment of GCCs within their own premises for clients
BUSINESS
GCCs not 'cannibalising' IT services revenue, says Capgemini's Ananth Chandramouli
Ultimately, the GCCs need to ponder whether system integrators (SE) such as Capgimini are competitors anymore, Chandramouli said.
BUSINESS
Working on 300 generative AI projects, says Capgemini
Yardi said generative AI is a "great opportunity" for both services industries and clients to leverage AI and drive revenues for their respective organisations.
BUSINESS
India stands to lose if US lobbyists win in restricting open source software, says former Coursera CEO Andrew Ng
The founder and CEO of Landing AI said that there has been “intense lobbying efforts” from some of the big tech companies, which have made some significant investments and training in large AI models.
BUSINESS
AI hallucinations will largely be eliminated by next year, says DeepMind’s Mustafa Suleyman
Suleyman said eliminating hallucination would have a dramatic impact on education because these conversational AI's are friendly and fluent.
BUSINESS
Nothing special about human mind that can't be reproduced by AI: DeepMind's Mustafa Suleyman
AI would be very useful without consciousness and not with it because it will be quite a slippery concept, said Mustafa Suleyman
BUSINESS
Karnataka, Tamil Nadu woo GCCs with incentives in state budgets
The two southern states, which produce lakhs of engineering graduates every year, are looking to attract more GCCs to invest at a time when Indian IT firms have slowed down hiring in a weak macro environment.
BUSINESS
Indian tech industry will add only 60,000 jobs in FY24 against 2.7 lakh in FY23: Nasscom
Nasscom said the industry over-hired during the COVID year, therefore the IT industry is seeing some level of correction, which is "expected" and "needed".
BUSINESS
IT industry growth halves to 3.8% in FY24 vs 8.4% in FY23: Nasscom
Overall growth projection has slowed down to 3.8%, as compared to an 8.4 percent growth the tech industry body had projected in the previous fiscal year.
BUSINESS
Karnataka Budget 2024: Government to introduce Global Capability Centre Policy to boost investment
A GCC is a dedicated offshore unit established by a company in a foreign country to in-source IT and other related business functions.
TECHNOLOGY
Capria Ventures to launch $100 million India-focused fund for applied GenAI startups in first half of 2024
Capria Ventures' India-focused fund will invest in sectors such as fintech, job-tech, and software-as-a-service edtech.
BUSINESS
HCLTech warns employees to report to office thrice a week or face disciplinary action
“Non-compliance... will be treated as unauthorised absence and call for disciplinary action in line with company policy,” the company said in the missive.
BUSINESS
See challenges in the next few quarters if IT hiring doesn’t pick up, says Info Edge
The double whammy of soft demand in the IT industry and extra manpower held by them is negatively affecting the recruitment and consulting business of Info Edge
BUSINESS
GCCs gain traction among foreign SMBs seeking Indian tech talent
While large multinational companies have been setting up GCCs in India, smaller firms following them is an indication of how technology has become core to these firms
BUSINESS
Peak XV to take over 60 founders on AI tour to Silicon Valley, sources say
The week also includes an ‘AI day’, with focus on learnings from the playbook of founders and operators who have made in big in the world of AI such as OpenAI, Glean, Moveworks, and 6Sense, among others
BUSINESS
Microsoft's GitHub has 13 mn Indian developers, to overtake US by 2027
Nadella said he’s “very excited” about Indian languages being integrated into GitHub co-pilot, and it is now imperative for developers to build their own AI applications.
BUSINESS
Cognizant revenue dips 1.7% to hit an 8-quarter low
For January-March, Cognizant sees its revenue declining in the range of 2.7 percent to 1.2 percent.
TECHNOLOGY
GCCs driving demand, hiring by IT services still muted: Quess Corp
The freeze on campus hiring by IT companies is a mistake, which is likely to have an impact on the workforce in the coming one to two years, Quess CEO Guruprasad Srinivasan says
BUSINESS
Birlasoft sees no sign of demand pick-up in Q3, even in Jan
The company said its operating margin will stay in the current 14%-mark in the near-term as it continues to invest in technology and to hire teams across the board.
BUSINESS
“AI + people” dominant discussion in India, “AI + replacement” in the West, says Ex-Aadhaar architect Pramod Verma
While AI is poised to impact certain job roles in the economy, it will concurrently create more opportunities, Verma said.
BUSINESS
Overhiring or AI impact: Indian IT firms divided on why employee headcount is declining
The industry is divided over whether disruptive technologies such as generative artificial intelligence (Gen AI) are making certain jobs redundant.
