Page 12 - Artificial Intelligence

SBI uses AI to underwrite nearly ₹1 trillion in MSME loans in FY26

The country's largest lender, State Bank of India (SBI), used artificial intelligence to underwrite nearly Rs 1 lakh crore in MSME loans of up to Rs 5 crore each during 2025-26, a senior bank official said on Wednesday. "In FY26, in 12 months time, we are able to underwrite loans up to Rs 5 crore, both covering the new-to-bank customers, as well as existing customers. Almost Rs 1 lakh crore we were able to underwrite," SBI Managing Director Rama Mohan Rao Amara said at the annual FIBAC event here. He added that the bank is also deploying artificial intelligence, including Large Language Models (LLMs), to automate processing of cheques up to Rs 10,000. The use of AI has helped free up the bandwidth of relationship managers, who earlier spent considerable time collecting data and carrying out preliminary analysis, the official said. Cheques of up to Rs 10,000 account for around 25 per cent of the bank's cheque volumes, and the AI model can read the cheque and verify mandatory fields

Accel bets $550 million on India's next wave of founders for AI era

Venture capital firm behind Flipkart and Swiggy closes ninth India fund as part of a record $3.5 billion global raise, betting AI lets homegrown startups build for the world from day one

Building successful businesses | Learn from the global coach

In this session, Brad Sugars, Founder, ActionCOACH, provides guidance on building successful businesses, and gives tips to the students.

Standard Chartered expects India tech hub roles to grow as AI expands

The British lender employs about 22,000 at its global capability centers in India, which support the bank's operations worldwide

Nvidia partners with Wall Street giants to raise $500 bn for AI buildout

Big Tech companies have signaled that spending on AI would not slow down, with combined outlays set to surpass $730 billion this year

Nvidia building 1-trillion-parameter Nemotron 4 to rival leading AI models

The company has not set a release date for Nemotron 4 and has ‌yet to complete final training

French press body asks competition watchdog to take action over Google AI

The Alliance of General Information Press, which represents French newspapers and ​magazines, opposes the recent rollout of AI-generated article summaries by ‌Google without consultation

Spotify to add 'AI Persona' badges on AI-generated artist profiles from Sep

Spotify will display the ​badge on banners and About sections in artist profiles, as well as in Search and on track rows across playlists

IBM, Together AI ink $240 million multi-year agreement for AI cluster

IBM and Together AI will build a $240-million AI cluster using Nvidia's latest systems, reflecting rising demand for computing capacity to run open-source AI models

Fintech firms Paytm, Pine Labs double down on adding sales employees

Comes at a time when maintaining merchant relationships becomes a paramount priority

Tokens to usage: Why cheaper AI still leaves enterprises with bigger bills

Token prices have fallen sharply, but agentic workflows can consume far more of them, while data, infrastructure and governance add to costs, shifting the focus from usage to business returns

AI's next banking frontier is rural India, small businesses: SBI Chairman

C S Setty said banks must take AI beyond retail applications to improve credit access, risk assessment and productivity while strengthening cybersecurity and governance

Only AI alone can help limit AI frauds, says RBI Governor Malhotra

He said AI could become as significant to the current decade as liberalisation was to the 1990s and digitalisation to the 2010s

Muse Glimmer 30B: Meta bets on open AI models that can run on Macs and PCs

Meta has released the weights of Muse Glimmer, a 30-billion-parameter model built for local AI agents, coding and tool use, and designed to run on a Mac or PC with a single consumer GPU

US House Democrats seek answers from OpenAI, Anthropic over rogue AI agents

Twenty-nine ​lawmakers, led by Representatives Greg Casar and Doris Matsui, pressed OpenAI to explain how ​its AI agents are monitored during testing

5 key takeaways from Mark Zuckerberg's 6,500-word manifesto on AI

Zuckerberg's letter is the latest entry in the broader genre of manifestos from AI executives laying out their visions for the emerging technology

Google's DeepMind team warns job seekers of unreliable HR filters

Google team is encouraging candidates for its open roles to fill out a special form alongside their application to eliminate the risk it may be automatically screened out by the company's AI systems

AI materials startup Discovered Materials raises $9 million seed round

The IIT Madras alumni-founded company is using AI agents to accelerate the discovery of semiconductor materials and has released hundreds of AI-discovered materials alongside a new industry benchmark

Shiprocket bets IPO proceeds on AI as it expands beyond core shipping biz

Shiprocket plans to invest much of its IPO proceeds in AI and emerging businesses as it seeks to offer merchants technology spanning advertising, freight and commerce

No AI skills gap assessment; 47.6% of PMKVY's AI candidates certified: Govt

Of 53,449 candidates enrolled in AI-related job roles under PMKVY 4.0, 39,104 were trained, 28,345 assessed and 25,466 certified as of June 30, 2026