Page 12 - Information Technology

IT hiring easier than last year; founders hopeful of resumption in funding

Even as the technology sector witnessed a decline in funding across the globe, founders are hopeful that a 'warmer funding season' is on its way in 2024

Nifty IT logs biggest two-day gain since July 2020; Sensex soars past 71K

Bellwether stocks Tata Consultancy Services, Infosys, and HCL Technologies each witnessed a 5 per cent jump on Friday, accounting for over half of the market gains

Wipro inks three-year cloud migration deal with insurance company RSA

Wipro said it will help RSA build a "compliant, secure, and scalable IT infrastructure". The three-year engagement builds on Wipro and RSA's existing relationship, which began in 2016

GPAI summit 2023: Talks over AI declaration on, says Ashwini Vaishnaw

Talking about the summit, Vaishnaw said, "This (GPAI) will be a very large congregation attended by startups, policymakers, academia, and others"

Esconet Tech aims 3-fold jump in revenue to Rs 300 crore by March 2026

IT solution firm Esconet Technologies Ltd is aiming to achieve a three-fold jump in revenue to Rs 300 crore by March 2026 and plans to launch a public issue to raise funds for expansion. The company posted a revenue of Rs 94.97 crore and a Profit After Tax (PAT) of Rs 3.03 crore in 2022-23. In the first half of this year, the company posted a revenue of Rs 71.46 crore and a PAT of Rs 3.05 crore. In a statement, Esconet said it plans to expand its manufacturing capacity comprising high-end servers, workstations and storage systems. It is also expanding its Private Cloud vertical, further strengthening its integrated solutions offerings. "To meet the capex and working capital needs to support expanding operations, the company plans to tap the capital markets -- through listing on NSE Emerge," the company said. Corporate Capital Ventures has been appointed as the book running lead manager to the issue. "Driven by unwavering commitment in providing innovative and reliable solutions to

Mobile manufacturing to hit $50 billion in FY24: Ashwini Vaishnaw

Overall, electronic exports from the country stood at $15.77 billion in FY24. In the previous year, this was $28 billion

Need guardrails to ensure that AI can never be misused: Chandrasekhar

"We see AI as a kinetic enabler for the $1 trillion digital economy goal that we set for ourselves as a nation. So, it's a very big deal for us," said Chandrasekhar

Mobile phone PLI has created 500k incremental jobs: Ashwini Vaishnaw

As many as 5,000 people will work to manufacture smartphones and feature phones at a large scale in the new unit, Vaishnaw said

IT hiring slowdown to continue for 2-3 quarters, global slowdown to blame

Sekhar Garisa, CEO of foundit, said that companies do not need as many designers and content writers as before since technology can help make some of these jobs more efficient

GenAI can transform industries, only if applied responsibly: Rishad Premji

Premji also pointed out that human capital is the most important driver of social economic development and there is a need to continue to invest in world-class infrastructure

Small-town freshers learning new-age tech skills to crack IT sector jobs

More and more candidates are registering to learn these skills in hopes of finding better employment opportunities in an increasingly competitive job market

Capgemini to double data, AI teams to 60,000 in 3 yrs: Nisheeth Srivastava

'Leveraging our global data and AI campus, we will train most of our employees, starting with our data and AI teams'

Internet, tech can do harm if not regulated via prism of safety: MoS IT

Internet and technology - unless regulated carefully through the prism of safety and trust - have the power to harm users, Union Minister Rajeev Chandrasekhar said on Friday, adding that 'guardrails' have to be carefully developed without over-regulating innovation. The Minister of State for IT and Electronics said that while artificial intelligence (AI) is one of the biggest inventions of recent times, the government is committed to ensuring the safety of users on digital platforms, given that India is one of the largest connected nations in the world with almost 850 million Indians already using the internet and 1.2 billion estimated to do so by 2025-26. In a video message at the 'DATE with Tech' event, the minister also drew attention to the issue of deepfakes. "You have heard recently our Prime Minister call out the risks of deepfakes. We have all been aware, especially some of us from my generation, who always believe that technology is a great enabler and is a force for good,

Govt to enable citizens to file FIR against social media companies

The government will assist citizens in filing FIR against social media platforms for violation of IT rules in case they are aggrieved from objectionable content like deep fakes. Minister of State for Electronics and IT Rajeev Chandrasekhar said the Ministry of Electronics and Information Technology (Meity) will develop a platform on which users can notify about IT rule violation by social media platforms. "Meity will assist users to very easily notify it about violation of IT rules and assist them in filing FIRs," the minister said. He was speaking to the media after a meeting with social media platforms. "From today onwards there is zero tolerance for violation of IT rules," Chandrasekhar said. The FIR will be registered against the intermediary and if they disclose the details from where the content has originated then the FIR will be filed against the entity that has posted the content, the minister said. He said that social media platforms have been given seven days time to al

Goa poised to become nurturing ground for startup creativity: IT minister

The Goa government will introduce a number of initiatives to provide support to startups as the state is poised to become a nurturing ground for startup creativity, a minister has said. Addressing the closing ceremony of three-day-long Tech Media Startup 2023 event on Thursday, Goa Information Technology Minister Rohan Khaunte also said the government's aim is to position the state as a premier startup destination in Asia. "Goa, with its vibrant spirit, is poised to become a nurturing ground for startup creativity. In the coming months, we will introduce a spectrum of initiatives to further catalyse business growth and provide startups with the support they need," he said. "Under the leadership of Chief Minister Pramod Sawant, the aim is to position Goa as a premier startup destination in Asia...The state's unique blend of natural beauty, cultural heritage and burgeoning entrepreneurial spirit sets the stage for the convergence of startups and information technology," he said. The

Amid muted earnings, Infosys to hand out 80% variable pay for Q2FY24

The IT sector has faced challenges as the Western markets have struggled with the possibility of a recession. Most clients for Indian IT companies are from the USA and Europe

1.39 million cyberattacks handled in 2022, phishing attacks rise: Cert-In

Among 1.39 million cyber security cases last year, vulnerable services made up 875,892 of the total incidents tackled by Cert-In

IT companies to diversify, draw 30% revenue from non-western mkt by 2030

Japan, Australia, and countries from West Asia will play a major role in this shift as they expand their share in the Indian IT outsourcing space

Regulated entities to follow new IT framework from April 2024: RBI

The framework will specify the roles and responsibilities of the board of Directors, board level Committee and Senior Management

Centre issues advisory for social media platforms regarding deepfakes

Deepfakes are videos creating delusion with the use of deep learning, AI, and photoshopping techniques to make images of fake events