Moneycontrol PRO
HomeNewsTechnology startupMCTech3

Quick Summary

One quick thing:  Govt cracks down on bulk SIM cards, bans 66,000 fraudulent WhatsApp accounts 

In today’s newsletter:

  • Refund requests soar at Byju's Tuition Centres
  • Rights groups mull challenging India's data law
  • Why India will be the world's AI talent hub

Was this newsletter forwarded to you? You can sign up for Tech3 here

Top 3 stories

Refund requests soar at Byju’s Tuition Centres

Refund requests soar at Byju’s Tuition Centres

In January this year, Divya Gokulnath, co-founder of Byju's, said that the edtech company would be adding 300 more offline centres, also known as Byju's Tuition Centres (BTC).

“We are adapting quickly to the new normal,” she said with assurance, while speaking to us on the sidelines of the World Economic Forum in Davos.

Clearly, the company was betting big on the new way of learning—hybrid.

However, seven months later, things have changed. The company has not added any new centres. In fact, its existing centres are flooded with requests for refunds.

Driving the news

Nearly 60% of Byju's Tuition Centre customers have requested refunds in the last two years, according to exclusive data we have obtained.

Between November 9, 2021, and July 11, 2023, a total of 43,625 refund requests were submitted to Byju's Tuition Centres.

  • Byju's has sold about 75,000 BTC subscriptions since its official launch in February 2022

  • Of the total refund requests, Byju's has already processed 41,198 requests, which is about 95% of all requests

Additionally, parents are dissatisfied with the way the company is running these centers. We spoke to 15 parents of students to understand the issues they are facing.

Tell me more

High refund request rates at BTCs, which was touted as the next growth engine for Byju's, have raised concerns for the company, which is already facing a host of issues.

Like most edtechs, Byju's was betting big on the so-called hybrid coaching model to mitigate the impact of the post-Covid pullback. The company had earmarked $200 million for this purpose.

Byju's may now need to regroup and come up with a plan to address these on-the-ground issues.

Go deeper

Rights groups mull challenging India's data law

Rights groups mull challenging India's data law

The Indian government may have cleared the hurdle in Parliament after the Digital Personal Data Protection (DPDP) Act was passed smoothly in both Houses. 

  • However, there may be a bigger obstacle in the judiciary that the government will have to deal with in the coming days

Driving the news

Rights groups are considering legal challenges to India's data protection law over concerns about exemptions for the government, the "weakening" of the Right to Information (RTI) Act, and other issues.

  • The Internet Freedom Foundation said it is exploring all options, including litigation
  • The Software Freedom Law Centre said it will make a decision after the law's rules are finalised

Yes, but why?

These groups have consistently raised concerns about the wide exemptions that the bill provides to government bodies from its provisions.

  • They have also raised an alarm about the new blocking powers of the proposed data protection board under the law, as well as its independence

A potential legal challenge to the DPDP Act could have significant consequences, given the country’s ongoing efforts to strike a balance between protecting individuals’ personal data and fulfilling government obligations related to national security and law enforcement.

Find out more

Why India will be the world's AI talent hub

Why India will be the world's AI talent hub

While India may have initially lagged in the generative AI race, it is well-positioned to emerge as the AI talent hub for companies developing models based on this revolutionary tech.

India’s tech talent pool

India is a top market for latent tech talent, with over 2.25 million tech graduates and almost 16% of the world's AI talent, according to Nasscom.

  • This is driven by the growing demand for AI tech talent from GCCs, IT service firms, and startups across sectors, which are all racing to ramp up their AI capabilities

The country has immense potential to become “the largest feeder of skilled AI talent for global tech giants,” Digital India Corporation and National eGovernance Division’s Abhishek Singh told us.

Upskilling - the way forward

By upskilling, this talent pool can become eligible for these roles and beat the overall hiring slowdown.

  • Companies like TCS, Wipro, and HCLTech plan to train 100,000, 250,000, and 20,000 associates in AI/ML skills, respectively, over the next year

Go deeper

MC Bullish | Metro: A game-changer for urban India

MC Bullish | Metro: A game-changer for urban India

From the first metro in Kolkata, which began operations on October 24, 1984, to the latest one in Pune, which started on March 6, 2022, metro rail has come a long way.

  • Overcrowded and rickety buses, complaints of breakdowns, delays, and the absence of a cashless ticketing system can paint a grim picture of public transport in India 

However, the metro has transformed the way Indians travel with its air-conditioned coaches, automated fare collection systems, well-maintained stations, CCTV cameras, and punctual services.

  • India has an operational metro network of 845 km across 15 cities. If everything goes according to plan, India will have a total metro network spanning around 2,700 km in the next few years

Find out more

This article is part of a special series capturing India's rising economic might as it emerges stronger from a pandemic amid a sluggish world economy. Read all stories.

Eye on AI

What's hot in AI

ONE LAST THING

Sal Khan vs. Salman Khan

Sal Khan vs. Salman Khan

Salman Khan is a household name in Bollywood, but did you know that there is another Khan with the same name who is making waves in the education world?

In a recent episode of his podcast, Unconfuse Me with Bill Gates, the Microsoft co-founder asked his guest Sal Khan, the founder of Khan Academy, if he ever gets confused with Bollywood actor Salman Khan.

  • Khan laughed and said that he does, in fact, get confused with the actor on a regular basis

He even said that he used to get letters from some of the actor's fans saying that they had always been in love with him and didn't know he could do math and all that. Find out more

Note: By subscribing to Tech3 you have already made the right choice. Top it up with a premium offering, the Moneycontrol Pro Panorama, a newsletter that gives you a sharp take on macros, markets, business and finance. Sign up for Pro from this link to get this newsletter in your inbox and also a host of content enjoyed by 500,000+ subscribers.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347