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.
BUSINESS
Top honchos of TCS, Infosys, Wipro, HCLTech, Cognizant turn optimistic amid uncertainties
The broad consensus that green shoots are perceivable on the horizon by the who’s-who of the IT world assumes significance as these companies have struggled in the past couple of quarters with tepid demand leading to muted quarterly performance.
BUSINESS
Coforge does not expect demand to change soon, says CEO Sudhir Singh
The company plans to continue to hire employees to support growth
BUSINESS
Client budgets delayed due to conflicting macro data, says Happiest Minds
The company will close the financial year 2023-24 with 11.5 percent revenue growth, falling short by 50-basis-points (bps) of the guidance it has set for itself.
BUSINESS
Nothing personal, just enforcing contracts: Wipro's Rishad Premji on suing 2 former executives
Rishad Premji said senior leaders get incentivised and compensated well to maintain the confidentiality of what they're doing
BUSINESS
Davos 2024: AI has gone from hype to execution, says SAP’s Thomas Saueressig
SAP already has 130 active AI use-cases, with over 16 generative AI use-cases since the end of last year
BUSINESS
Davos 2024: When we have gaps, we'll look outside, Cognizant CEO Ravi Kumar says on poaching from peers
Kumar said the first option for any leadership role in the company, is to look within, and there were always gaps
