Page 3 - Digital Technology

Microsoft-backed cybersecurity firm Rubrik aims to raise $713 mn in IPO

Goldman Sachs, Barclays, Citigroup, and Wells Fargo are the lead underwriters for Rubrik's IPO

Digital infra solutions company iBUS raises $200 mn from govt's NIIF

Firm says it will use the funding to strengthen its market position and expand in new sectors

Musk launches X's 'Community Notes' programme in India: Here's how it works

The 'Community Notes' programme will allow contributors to participate in fact-checking tweets in order to create a more informed digital environment

EU probes Apple, Meta, Alphabet for 'non-compliance' under new digital law

According to the European Commission, some large online platforms act as "gatekeepers" in digital markets and the Digital Markets Act aims to ensure that these platforms behave in a fair way online

Robust regulations must to check digitalisation risks: RBI dy guv

Robust regulatory frameworks are needed to protect customers from misuse and fraud resulting from rapid digitalisation in financial services and proliferation of fintech platforms, RBI deputy governor Swaminathan J said while speaking at an event in Paris. Addressing the Global Money Week 2024 earlier this week, the deputy governor said the COVID-19 pandemic accelerated digitalisation in financial services, prompting a swift transition to online mode by service providers and customers, according to an RBI statement. Accompanying this surge in digitalisation was also the proliferation of fintech platforms, he said. Often operating outside the regulatory envelope and unconstrained by legacy systems that typically encumber traditional banks, fintech companies exhibit remarkable agility and adaptability in offering customised financial products, Swaminathan added. "These developments are indeed welcome. However, while they offer immense benefits such as accessibility and ...

Some public enterprises may be kept out of digital competition law

"It is an overarching section. Akin to the existing Law, Government has effectively kept room to make exemptions in a number of situations," said Sagardeep Rathi, Partner, Khaitan & Co

LTTS bags Rs 800 cr project from Maha govt to set up cybersecurity hub

L&T Technology Services on Friday said it has secured a USD 100 million (around Rs 800 crore) project from the Maharashtra government to establish a cybersecurity and digital threat analytics centre. The engineering services arm of infra major L&T has teamed up with KPMG Assurance and Consulting Services LLP as a forensics partner to provide advanced cyber security solutions for the state, enhancing public safety against cyber threats, according to a statement. The company said the contract is a first-of-its-kind programme in India, and a part of its initiative to develop digitally interconnected smart and safe cities through cyber security and digital forensic solutions consolidated under one umbrella. It said the project entails designing a sophisticated cybersecurity system and establishing a cyber security and cybercrime prevention centre to address cybercrime incidents and investigations by leveraging AI (Artificial Intelligence) and digital forensic tools. "It's an ...

Digital Competition Bill opens room for parallel probe against firms

The Draft Digital Competition Bill has set out a process for investigation of the contraventions listed in the Bill in line with the similar process in the parent Competition Act

Manish Prasad appointed president and MD for SAP Indian Subcontinent

Prasad succeeds Kulmeet Bawa, who takes on a global role for SAP

Tech industry revenue to touch $254 billion this fiscal, says Nasscom

The domestic technology industry's revenue is projected to grow 3.8 per cent to USD 254 billion this fiscal, industry body Nasscom said on Friday. Excluding hardware, the revenue is expected to touch USD 199 billion, a growth of 3.3 per cent over FY23. The Engineering Research & Development (ER&D) sector alone contributed 48 per cent to the total export revenue addition in FY24, Nasscom said in its annual review. The projected 3.8 per cent growth is despite a 50 per cent slide in tech spending and 6 per cent decline in tech contracts in 2023 globally. This means the industry has added USD 9.3 billion incremental revenue in the fiscal, Nasscom said. It said despite reports of massive retrenchments, the industry added net 60,000 jobs, taking the total headcount to 5.43 million in the year.

'Societal misalignments' could make AI dangerous, warns OpenAI CEO

The CEO of ChatGPT-maker OpenAI said on Tuesday that the dangers that keep him awake at night regarding artificial intelligence are the very subtle societal misalignments that could make the systems wreak havoc. Sam Altman, speaking at the World Government Summit in Dubai via a video call, reiterated his call for a body like the International Atomic Energy Agency to be created to oversee AI that's likely advancing faster than the world expects. There's some things in there that are easy to imagine where things really go wrong. And I'm not that interested in the killer robots walking on the street direction of things going wrong," Altman said. "I'm much more interested in the very subtle societal misalignments where we just have these systems out in society and through no particular ill intention, things just go horribly wrong. However, Altman stressed that the AI industry, like OpenAI, shouldn't be in the driver's seat when it comes to making regulations governing the industry. We

K'taka govt announces digital detox initiative for responsible gaming

The Government of Karnataka, in collaboration with the All India Game Developers Forum (AIGDF) will launch a digital detox initiative, with special emphasis on gaming and social media

CES 2024: Five interesting products unveiled at consumer technology event

From Rabbit R1 AI device to Anker power station, here are five interesting products unveiled at the Consumer Electronics Show event this year

48% of healthcare, pharma firms to use Gen AI solutions in 1 year: Report

Nearly 48 per cent of healthcare and pharma companies surveyed are poised to integrate first-gen AI solutions within one year, an EY report said on Wednesday. The shift is, however, significant in the sector, which has been traditionally conservative in adopting digital technologies, it added. The findings also underline the growing appeal of this emerging technology that has made headlines with its promise of transforming industries. The EY report insights revealed that in healthcare, Gen AI holds the promise of benefiting every facet of the value chain, from clinical services to customer operations and branding. Similarly, in life sciences, the potential of Gen AI applications is poised to expedite the assimilation of cutting-edge technologies across the value chain. According to the report, 60 per cent of survey participants from the healthcare and life sciences sector believe Gen AI will have a significant impact on the entire value chain. "While 28 per cent of healthcare and

Davos 2024: Global alliance calls for inclusive access to advanced AI tech

World Economic Forum's AI Governance Alliance on Thursday said a global effort is needed to create equitable access to advanced artificial intelligence. Artificial intelligence holds the potential to address global challenges, but it also poses risks of widening existing digital divides or creating new ones, the alliance said at the WEF Annual Meeting here. It also released a series of three new reports on advanced AI focussing on generative AI governance, unlocking its value and a framework for responsible AI development and deployment. The alliance brings together governments, businesses and experts to shape responsible AI development applications and governance, and to ensure equitable distribution and enhanced access to this path-departing technology worldwide. "The AI Governance Alliance is uniquely positioned to play a crucial role in furthering greater access to AI-related resources, thereby contributing to a more equitable and responsible AI ecosystem globally," said Cathy

Tech entrepreneur's tips on how to start up

Stay within means and shun VCs as long as you can!

Coforge, Microsoft Azure join hands for new generative AI solution

The development comes after Coforge's recent launch of Coforge Quasar, a Gen AI Platform designed to build Enterprise AI capabilities

Govt in process of shaping regulations on Artificial Intelligence: Official

The government has commenced the process of preparing regulations for Artificial Intelligence (AI) to foster development, protection, and innovation in this emerging technology in India, a top government official said on Tuesday. Additionally, the government is considering a second version of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) that would focus on ancillary development for the semiconductor supply ecosystem. The government was working on the preparation of the regulations on AI and it was also evaluating global inputs, Secretary of the Ministry of Electronics and Information Technology (MeitY) S. Krishnan said on the sidelines of an international conference organised by the Centre for Development of Advanced Computing (C-DAC), in Kolkata. He also indicated that discussions are underway regarding whether a separate act is needed or if regulations can be incorporated into existing acts. "The government is already engaged in ..

Hindustan Coca-Cola Beverages to train Tamil Nadu women on banking services

Fast-moving consumer goods major Hindustan Coca-Cola Beverages has unveiled a digital literacy programme in the state aimed at training women on the fundamentals of banking services. As part of the programme, around 3,000 women from Tamil Nadu would be trained under its national initiative to reach 25,000 women across the country. The financial and digital literacy training programme would encompass fundamentals of banking basics, account opening process, UPI training, a company statement here said. Beneficiaries would be grouped based on their interests, needs, and existing digital and financial literacy levels. The training will adopt a classroom-based format conducted at identified locations. "At Hindustan Coca-Cola Beverages our commitment to positively impact our community extends beyond refreshing beverages. The financial and digital literacy progamme in Tamil Nadu is a testament to our dedication to fostering change," said HCCB Chief Public Affairs, communications and ...

Cipla invests Rs 42 crore in GoApptiv to enhance healthcare access

Cipla's move aligns with its vision to strengthen investments in channels and technologies