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Govt keen on innovation-driven AI, its responsible use: MeitY Secy Krishnan

Krishnan said the next AI summit will be hosted in India later this year

Govt keen on innovation-driven AI, its responsible use: MeitY Secy Krishnan
Updated On : 12 Feb 2025 | 7:24 AM IST

India's local foundational AI platform expected in 10 months, says Vaishnaw

India may be able to develop its own high-end computing chipset, known as GPUs, in the next 3-5 years while a local foundational AI platform is expected in 10 months, Union Minister Ashwini Vaishnaw said on Tuesday. During a Budget Roundtable 2025 organised by India Today & Business Today, Vaishnaw said that the government will make available 18,000 high-end GPU-based compute facilities for AI development to entities in the country in the next couple of days and expects India's own AI platform within 10 months. "We are working on multiple, actually three options, where we take a chipset which is at some reasonable level available in open source or available as a licensed thing, and then build upon that to build our own GPU. That's the approach the entire world has followed and that approach will be able to give us India's own GPU in the time frame of three to five years," Vaishnaw said. GPUs (graphics processing units) were earlier used for processing multimedia content where a ...

India's local foundational AI platform expected in 10 months, says Vaishnaw
Updated On : 04 Feb 2025 | 9:29 PM IST

KFin Technologies Q3 results: Net profit rises 35% to Rs 90 crore

KFin Technologies Ltd on Thursday reported a 35 per cent year-on-year surge in profit after tax to Rs 90.18 crore for three months ended December 2024. The company had posted a profit after tax (PAT) of Rs 66.83 crore in the year-ago period, KFin Technologies said in a statement. Revenue from operations stood at Rs 290 crore in the October-December quarter of the current financial year (FY25), a surge of 32.6 per cent from Rs 218.72 crore in the year-ago period. "Our focus on consistent growth and profitability has led to yet another quarter of resilient performance, aided by new client wins internationally and domestically, across our diversified business segments," Sreekanth Nadella, Managing Director and CEO, KFin Technologies, said. For the nine months of FY25, the company's PAT stood at Rs 247.57 crore, marking a 44.3 per cent year-on-year increase, and Revenue from operations was at Rs 808 crore, up 32.6 per cent from the same period preceding fiscal.

KFin Technologies Q3 results: Net profit rises 35% to Rs 90 crore
Updated On : 23 Jan 2025 | 9:25 PM IST

HCLTech Q3 Preview: Revenue may jump up to Rs 30,200 cr; PAT to rise 5-10%

HCLTech's Q3FY25 performance is expected to reflect steady growth despite industry challenges such as furloughs and cross-currency headwinds

HCLTech Q3 Preview: Revenue may jump up to Rs 30,200 cr; PAT to rise 5-10%
Updated On : 13 Jan 2025 | 8:12 AM IST

Social media opened avenues to verify info, strengthened democracy: PM Modi

Prime Minister Narendra Modi said social media has strengthened democracy by opening up ways to verify information which earlier was available from a handful of sources with little alternatives. In an interaction with Zerodha founder Nikhil Kamath, Modi said earlier there were very few persons who used to report on events and their version was considered as the truth. "You were trapped as there was no opportunity to seek verification. But, today you have an alternative to verify information on different platforms. Everything is available on your mobile phone," Modi said. "If you pay little attention, you can find out the truth. This is the reason that social media can strengthen democracy," he said. The prime minister said youngsters have the tendency to verify information on social media before believing anything as the truth. Modi said he was amazed to see the amount of interest the youngsters have shown in developments in the space sector. "Chandrayaan's success has created a

Social media opened avenues to verify info, strengthened democracy: PM Modi
Updated On : 10 Jan 2025 | 6:15 PM IST

Mphasis share pops 3% as Jefferies initiates with 'Buy', sees 21% upside

The northward move in Mphasis share price came after New York-based financial services company Jefferies initiated coverage with 'Buy' for a target price of Rs 3,460 per share

Mphasis share pops 3% as Jefferies initiates with 'Buy', sees 21% upside
Updated On : 06 Jan 2025 | 11:05 AM IST

MIB tells parliamentary panel it's working on rules to regulate online ads

Member of Parliament Nishikant Dubey who is chairing the committee had requested the ministry to give updates on the status of rules

MIB tells parliamentary panel it's working on rules to regulate online ads
Updated On : 02 Jan 2025 | 10:40 AM IST

Emerging tech to drive India's job market with 20% growth in 2025: Report

Indian IT ecosystem is poised for a promising growth trajectory in the coming years with emerging technologies expected to witness a 20 per cent increase in new jobs in 2025, Human Resources (HR) platform FirstMeridian Business Services said on Tuesday. Looking back at 2024, it said the Indian IT and tech ecosystem witnessed a 17 per cent surge in new employment opportunities, driven by rapid digital transformation and the concurrent rising demand for emerging tech niche job profiles. "After a muted H1, the sector regained momentum, as we gear up for 2025, these trends will continue, while also eyeing an average 20 per cent rise in profiles like application developers, software engineers, DevOps engineers, AI, ML, and Cyber Security," FirstMeridian Business Services CEO, IT Staffing, Sunil Nehra said. Moreover, Artificial Intelligence (AI), which was a major trend in 2024, is expected to further accelerate in 2025, Nehra added. The sector is set for remarkable expansion, with high

Emerging tech to drive India's job market with 20% growth in 2025: Report
Updated On : 31 Dec 2024 | 7:04 PM IST

CRISIL analysis: IT services sector eyes 7-9% growth on BFSI, AI funding

A CRISIL Ratings study of the top 25 firms, accounting for 55 per cent of the Rs 14 trillion IT sector's revenue in fiscal 2024

CRISIL analysis: IT services sector eyes 7-9% growth on BFSI, AI funding
Updated On : 30 Dec 2024 | 11:55 PM IST

House panel pulls up IT ministry for failing to use semiconductor funds

A parliamentary panel has pulled up the Ministry of Electronics and IT for surrendering more than half the funds allocated for semiconductor and display manufacturing projects in 2023-24, according to a report tabled in the Lok Sabha on Wednesday. The Standing Committee on Communications and IT in the fourth report on demand for grants observed gradual decrease in allocation of funds from Budget Estimate (BE) 2021-22 to BE 2024-25 for Digital India Programme as well as underutilisation by the ministry over the years. The report said under Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India, during FY24, of the total allocation of Rs 1,503.36 crore the actual expenses as on March 31, 2024 indicates that the ministry could spend only Rs 681.11 crore, "surrendering a staggering 55 per cent of the allotted fund". "Surrendering of funds beyond 50 per cent allocated reflects improper planning by the ministry. The committee may be apprised of t

House panel pulls up IT ministry for failing to use semiconductor funds
Updated On : 18 Dec 2024 | 11:50 PM IST

Mutual funds increase exposure to banking, IT stocks amid outperformance

Compared to a 6.5 per cent fall in the Nifty 50 during the October-November period, the Nifty IT index rose 2.9 per cent, and the Nifty Bank index declined 1.7 per cent

Mutual funds increase exposure to banking, IT stocks amid outperformance
Updated On : 18 Dec 2024 | 11:03 PM IST

AI tech to replace humans workflow, says Paytm founder Vijay Shekhar

Start-ups not working on technologies that can replace humans in workflow will not last long, Paytm founder and CEO Vijay Shekhar Sharma said on Tuesday. While speaking at the Rising Rajasthan Global Investment Summit, Paytm founder and CEO Vijay Shekhar Sharma, however, said that his company will need more people to develop technology and provide support as the adoption of AI increases. When asked about whether Paytm is also looking at technologies to reduce its workforce, Sharma said, "We will need to hire more ... to provide technology support. Technology companies will become stronger with the adoption of tech". During his session on Digital Transformation, Sharma said anything that is being done physically or mentally will be replaced by AI like car driving and writing code. Startups not developing tech to replace human workflow will not last long. "If you are not building a startup that removes the obligation of a human's workflow, you're not building a company that will be .

AI tech to replace humans workflow, says Paytm founder Vijay Shekhar
Updated On : 10 Dec 2024 | 10:11 PM IST

IT sector to witness 15-20% growth in job opportunities in 2025: Report

The IT sector, which is on the path of recovery, is expected to witness 15-20 per cent growth in job opportunities across various industries in 2025, talent solutions company NLB Services said on Monday. The IT industry has gained back momentum in H2 2024 and is gearing up for a promising 2025 on multiple fronts, said NLB Services. In the coming year, fresher hiring in the Indian IT sector is poised for significant growth, with an anticipated increase of 15-20 per cent in job opportunities across various industries, it added. At the same time, the demand for highly specialised tech roles, including artificial intelligence, machine learning (ML), data analytics, and cloud technologies, is expected to surge by 30-35 per cent, driven by the increasing reliance on emerging technologies, it said. This surge in demand is not limited to hiring but extends to a strategic focus on tech upskilling, with companies investing heavily in training initiatives to equip their workforce with the ...

IT sector to witness 15-20% growth in job opportunities in 2025: Report
Updated On : 09 Dec 2024 | 5:56 PM IST

Markets gain for 5th day on FPI buying; IT, financial stocks lead rally

After gaining as much as 1.6 per cent from the previous day's close, the Sensex slipped into negative territory, only to recover sharply once again

Markets gain for 5th day on FPI buying; IT, financial stocks lead rally
Updated On : 05 Dec 2024 | 11:05 PM IST

TCS to modernise Bank of Bhutan's digital system, improve customer service

Indian IT company's global banking technology platform will help the lender to integrate public services with the digital ecosystem of Bhutan

TCS to modernise Bank of Bhutan's digital system, improve customer service
Updated On : 03 Dec 2024 | 2:15 PM IST

IT major TCS turns to home turf as it looks to redraw revenue map

Sets up vertical to focus on high-growth markets

IT major TCS turns to home turf as it looks to redraw revenue map
Updated On : 27 Nov 2024 | 12:43 AM IST

Cabinet approves continuation of Atal Innovation Mission till March 2028

The Cabinet on Monday approved the continuation of Niti Aayog's flagship initiative Atal Innovation Mission (AIM), with an enhanced scope of work and allocated budget of Rs 2,750 crore, till March 31, 2028. According to an official statement, AIM 2.0 is a step towards Viksit Bharat that aims to expand, strengthen, and deepen India's already vibrant innovation and entrepreneurship ecosystem. The statement said while building on the accomplishments of AIM 1.0, such as Atal Tinkering Labs (ATL) and Atal Incubation Centers (AIC), AIM 2.0 marks a qualitative shift in the mission's approach. "Whereas AIM 1.0 involved implementing programmes that built new innovation infrastructure to strengthen India's then-nascent ecosystem, AIM 2.0 involves piloting new initiatives designed to fill gaps in the ecosystem and scaling successes through central and state governments, industry, academia and community," it added. AIM 2.0 is designed to strengthen India's innovation and entrepreneurship ...

Cabinet approves continuation of Atal Innovation Mission till March 2028
Updated On : 25 Nov 2024 | 9:48 PM IST

Wipro appoints Omkar Nisal as CEO of Europe strategic market unit

IT firm Wipro on Monday said it has appointed Omkar Nisal as the chief executive officer for its Europe strategic market unit (SMU), with immediate effect. Nisal, who will also become a part of the Wipro executive board, will report directly to company CEO and MD Srini Pallia, according to a company statement. "Omkar's strategic vision, combined with a strong understanding of the European market dynamics, well positions him to lead our ambitious plans for growth and expansion. With a strong customer-centric approach, Omkar will help build a resilient and adaptable organisation poised for sustainable growth in the region," Pallia said. Based in London, Nisal has been a part of Wipro for over 12 years now. During his stint, he has led Wipro's banking-EMEA business, working closely with large and niche financial institutions across the UK, Europe, the Middle East, and Africa. This involved facilitating their digital transformation by emphasising customer journey redesign, enterprise ..

Wipro appoints Omkar Nisal as CEO of Europe strategic market unit
Updated On : 25 Nov 2024 | 7:41 PM IST

Gen Z professionals trust GenAI more than their 'biased managers': Study

The study, based on responses from over 3,500 Gen Z professionals and 1,000 HR leaders, highlights how this tech-savvy generation is integrating GenAI into their daily workflows

Gen Z professionals trust GenAI more than their 'biased managers': Study
Updated On : 25 Nov 2024 | 5:52 PM IST

IT flexi staffing space to grow steadily at 7% till FY26: ISF report

India's IT flexi staffing space is likely to grow steadily at a compound annual growth rate (CAGR) of 7 per cent from FY24 to FY26, stated a report by industry body India Staffing Federation (ISF). The IT flexi staffing industry focuses on supplying temporary or contract IT professionals to client organisations. ISF has also released the Indian IT Staffing-Sectoral & State Employment Trends Report 2024, which provides an in-depth analysis of trends in employment across various sectors and states. According to the report, India is the second-largest player in the South Asia-Pacific (APAC) region within the rapidly expanding APAC IT staffing market. Lohit Bhatia, President of ISF, said in the statement, "India's IT flexi-staffing sector is anticipated to experience steady growth, with a projected compound annual growth rate (CAGR) of 7 per cent from FY 2024 to FY 2026." The Indian IT Flexi Staffing Market size is USD 4.9 billion in FY24, with a total workforce of 5,97,000. Accordin

IT flexi staffing space to grow steadily at 7% till FY26: ISF report
Updated On : 14 Nov 2024 | 7:21 PM IST