BUSINESS
ER&D to grow ahead of IT on the back of automation, compute power, supply chain, says L&T Tech CEO Chadha
Out of the 25,000-odd engineers of L&T Tech Services, over 8,500, or over 30 percent of the workforce, have already been trained in AI and Gen AI tools.
BUSINESS
Inside India’s foundational LLM mission: How Yotta is bridging the compute gap
Yotta highlighted that applicants can receive instant access to compute once their request is cleared by the government through a single unified interface for the proposed foundational model.
BUSINESS
Mphasis rejects decline of traditional IT services, calls for AI-driven adaptation
Mphasis' Ravi Vasantraj believes IT firms will have to adapt to new models with shorter deal cycles, AI-driven automation, and a shift towards business outcomes.
BUSINESS
AI is the next battleground, expect a lot of geopolitical posturing around access: Rajeev Chandrasekhar
India has accelerated on AI adoption, but on AI capabilities it’s a bit behind China and the US, it’s still catching up; Chandrasekhar told Moneycontrol in an interview.
BUSINESS
AI has not plateaued, we are on an exponential curve, says Anthropic’s Niki Parmar
Meanwhile, Parmar also weighed in on the ongoing debate about open-source AI, arguing that the term is often misunderstood. Many experts have said that AI will sooner or later be open-source and all efforts to contain it within a “blackbox” will result in a failure.
TECHNOLOGY
Infosys layoffs: Nasscom defends tech industry, says companies follow performance-driven hiring, adhere to local laws
Nasscom said in a statement that the global tech industry, which is largely customer-focused, operates on a merit-based system, emphasising high-tech skills to meet evolving customer demands.
BUSINESS
Hinduja Global Solutions' AI push has given a big boost to customer satisfaction, says Americas CEO
Korla pointed out that this shift is not just about AI capability but also about human reluctance to completely cede control to machines.
BUSINESS
Our sweet spot is investing $2-$5 million, says Wipro Ventures after raising $200 million
However, the venture capital can go higher or lower depending on factors such as the size of the round, company stage, and ownership allocation.
BUSINESS
Infosys Layoffs: Centre intervenes again after NITES’ latest claims, company dismisses allegations
The Union Labour Ministry also directed the Karnataka Labour Commissioner to submit a detailed report on the actions taken in this matter.
BUSINESS
Some Wipro Ventures-backed startups acquired by Alphabet, Microsoft: Managing Partner Adhya
Wipro Ventures has facilitated over 600 deployments for more than 250 customers worldwide, integrating solutions from its portfolio into enterprise environments.
BUSINESS
Infosys rolls out salary hikes for employees, increments range between 5-8% based on base salary
Salary hikes have been rolled out to employees in band JL6 and below, effective from April 1.
BUSINESS
Cognizant trains 4 lakh people in AI as part of its broader 1 million target, says CEO Ravi Kumar
Kumar and Microsoft’s India & South Asia president Puneet Chandok highlight the companies’ collaboration and various initiatives in AI training and adoption.
BUSINESS
Mid-level hiring outpaces fresher intake in IT, GCCs as firms seek experienced hands
This assumes significance at a time when fresher hiring is still not out of the woods, and attrition is on the rise for all major IT companies.
BUSINESS
Inside Microsoft’s Majorana 1 and the birth of a new state of matter in quantum computing
Developing the Majorana 1 took over 20 years of research, combining materials science, quantum physics, and semiconductor engineering.
BUSINESS
Indian-origin researchers abroad pitch for India’s AI foundational model, says MeitY’s Abhishek Singh
Singh added that 67 applications have been received so far, and a committee has been formed to evaluate the same.
BUSINESS
IndiaAI Mission: All firms match L1 prices, GPU access portal to launch in 7-8 days
This comes after all L2 and L3 bidders empanelled for supplying the GPUs matched L1 prices, a senior govenrment official told Moneycontrol. February 14 was the last date for matching the prices.
BUSINESS
Bengaluru airport to get new rail link from city: Union railway minister Ashwini Vaishnaw
New Indian Railway line to airport terminal will connect Kempegowda International Airport with three rail lines apart from Metro and Suburban Rail.
BUSINESS
Accenture CEO Julie Sweet diagnosed with early-stage breast cancer, treatment likely to last 12-16 weeks
Nonetheless, the CEO of the world’s largest IT company will lead its day-to-day operations throughout the process.
TECHNOLOGY
Karnataka labour officials visit Infosys Bengaluru, Mysuru campuses amid layoffs; company emphasizes employee-friendly policies
Moneycontrol reported last week that Infosys was laying off over 300 trainees at its Mysuru campus after they failed evaluation tests in three consecutive attempts.
TECHNOLOGY
Infosys to issue increment letters by February-end; salary hikes to range from 5% to 8%
Moneycontrol learns that the software major has also started issuing promotion letters in batches, starting December. The salary hikes will be effective from April 2025.
BUSINESS
Cognizant’s acquisition playbook: What it means for Indian IT firms
Traditionally, ER&D services are largely provided by domain specialists. However, with spending gathering pace in the space over the last two years, IT firms are increasingly tapping into this new growth area.
BUSINESS
Dreams shattered, careers in limbo after two and a half years' wait: Inside Infosys trainee layoffs
Fear and uncertainty looms. On February 14, about 450 trainees will sit their third attempt. It remains to be seen how many of them will keep their jobs
BUSINESS
Infosys terminates around 400 trainees in Mysuru, employees cry foul
Sources say the company has deployed bouncers and security personnel to ensure that the trainees do not carry mobile phones
BUSINESS
Cognizant tops Q4 estimates, sees 3.5-6% growth for 2025 on better discretionary spending outlook
For the full year, revenue grew 1.9% YoY in CC terms to $19.7 billion, including approximately 200 basis points of growth from subsidiaries Thirdera and Belcan.
