SAP To Use AWS's AI Chips and Integrate GenAI Models from Amazon Bedrock

Amazon Web Services (AWS) and SAP SE have announced an expanded strategic collaboration to enhance cloud enterprise resource planning (ERP) experiences and enable enterprises to harness generative artificial intelligence (AI) for new capabilities and efficiencies. This partnership aims to transform how businesses operate by integrating generative AI into their core processes.

SAP plans to utilize AWS's specialized chips for training and deploying its future Business AI offerings. The chips in question are AWS Trainium and AWS Inferentia, which are purpose-built for artificial intelligence (AI) and machine learning (ML) workloads. This move is part of the broader strategic collaboration between AWS and SAP to integrate generative AI into SAP's cloud enterprise resource planning (ERP) experiences.

AWS Trainium and AWS Inferentia are custom-built chips designed by Amazon Web Services (AWS) for specific machine learning (ML) tasks. AWS Trainium is optimized for deep learning (DL) training of large models, including generative Al models.

Each Trainium accelerator includes two second-generation NeuronCores and 32 GB of high- bandwidth memory, delivering up to 190 TFLOPS of FP16/BF16 compute power, ideal for training tasks in natural language processing, computer vision, and recommendation systems. While Inferentia2 accelerators have 32 GB of HBM per accelerator, significantly increasing memory capacity and bandwidth.

By leveraging AWS's powerful hardware, SAP aims to enhance the performance and efficiency of its AI-driven business applications. This will enable SAP customers to harness the capabilities of generative AI for a variety of applications, streamlining processes and driving innovation within their operations.

In addition, the collaboration also includes the integration of generative AI models from Amazon Bedrock, such as the Anthropic Claude 3 model family and Amazon Titan, into the SAP AI Core infrastructure. This will provide SAP customers with access to high-performing large language models (LLMs) and other foundation models (FMs) that can be customized with their own data.

Amazon Bedrock is a fully managed service provided by Amazon Web Services (AWS) that enables developers to build and scale generative Al applications using foundation models (FMs).

The goal is to make it easier for customers to adopt the RISE with SAP solution on AWS, improve the performance of SAP workloads in the cloud, and embed generative AI across an enterprise's portfolio of business-critical applications. This initiative is expected to accelerate the adoption of generative AI and modernize key business processes built on SAP solutions.

The generative AI hub in SAP AI Core infrastructure provides customers with secure access to a broad range of large language models (LLMs) that can easily be integrated into SAP business applications. Tens of thousands of customers use Amazon Bedrock to easily, quickly and securely build and scale generative AI applications using FMs from leading AI companies such as AI21 Labs, Anthropic, Cohere, Meta, Mistral AI, Stability AI and Amazon.

Suzlon to Supply 175 Wind Turbines of 3.15 Mw Each to Aditya Birla Group

• Suzlon secures a new 551.25 MW order for the 3 MW series from Global Indian Conglomerate, Aditya Birla Group
• Order to be executed across two sites, 368.55 MW at the site developed by Suzlon in the Barmer district, Rajasthan and another 182.70 MW at the site developed by client in the Bhuj district, Gujarat.
• Generated power to be utilised for captive usage within the Aditya Birla Group companies.
• A project of this size can provide electricity to ~4.54 lakh households and curb ~17.92 lakh tonnes of CO2 emissions per year

Suzlon Group, India's largest renewable energy solutions provider, has announced a new order win for the development of 551.25 MW wind power project for the Aditya Birla Group, a Global Indian Conglomerate. Suzlon will install 175 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at sites in the Barmer district in Rajasthan and Bhuj district in Gujarat.

This order is for the company's larger rated 3.15 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project, including erection and commissioning, in Rajasthan, while they will supply, supervise, and commission the project in Gujarat. Suzlon will also undertake comprehensive operations and maintenance services post- commissioning at both the sites.

This project is a testament to the growing commitment to renewable energy in India and aligns with national targets to ramp up renewable capacities. It's expected to provide electricity to approximately 4.54 lakh households and reduce around 17.92 lakh tonnes of CO2 emissions annually 2. A move like this by a major conglomerate sets an example for others in India Inc. to follow in the pursuit of green energy solutions.

Girish Tanti, Vice Chairman, Suzlon Group, said, "We are delighted to partner once again with the Aditya Birla Group for this order. Suzlon admires and shares the value of nation building with the Aditya Birla Group and welcomes this opportunity to power them with sustainable energy. We applaud ABG's visionary approach to power operations across its group companies with renewable energy and set an example for India Inc. Suzlon's comprehensive and proven product portfolio, customised for the Indian wind regime, will be instrumental in ramping up India's renewable energy capacities in line with our national targets while powering the Indian industry with green energy."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "Every repeat customer is a validation of our technology and service prowess. I am grateful that the Aditya Birla Group has reaffirmed their faith in Suzlon's end-to-end solutions, products, and service excellence. This order will enable us to further strengthen our presence in Rajasthan and Gujarat while helping the states unlock their true wind energy potential. Every Suzlon turbine is a testament to "Make in India" and "Aatmanirbhar Bharat" being manufactured in India through a thriving domestic ecosystem."

Jayant Dua, Business Head and Director, Aditya Birla Renewables Limited, said, "At Aditya Birla Renewables Limited, we prioritise partnerships that enhance our mission to power India Inc. with renewable energy, expanding the accessibility of green power throughout the country. Suzlon's technological expertise, manufacturing capabilities, and comprehensive project development skills will help accelerate our energy transition journey and support our net-zero commitments."

Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

IndianOil Equips Indian Army with Green Hydrogen Fuel Cell Bus for use in Delhi-NCR

In a significant step towards promoting sustainable, eco-friendly transportation solutions, IndianOil has handed over a state-of-the-art green hydrogen fuel cell bus to the Indian Army. This landmark event was marked by the signing of a Memorandum of Understanding (MoU) between IndianOil and the Indian Army to pioneer the deployment of hydrogen fuel cell technology for heavy-duty e-mobility.

The hydrogen fuel cell bus has a seating capacity of 37 passengers and promises an impressive mileage of 250-300 km on a full 30 kg tank of hydrogen fuel. This collaboration marks the Indian Army's commitment to adopting innovative technologies that enhance operational capabilities while ensuring environmental sustainability.

IndianOil is currently operating 15 fuel cell buses in the Delhi-NCR region, accumulating a total mileage of 300,000 kilometers, which works out to 20,000 km for each bus. The project will assess the performance of these buses in the demanding climatic conditions of the region and evaluate the effectiveness, longevity, and operational reliability of fuel cell buses intended for public fleet utilization.

The handing over and signing ceremony was held at the National War Memorial, India Gate, New Delhi, in the presence of General Manoj Pande (PVSM, AVSM, VSM, ADC), Chief of Army Staff, Mr. S M Vaidya, Chairman, IndianOil and senior officials of IndianOil and Indian Army.

General Manoj Pande, PVSM, AVSM, VSM, ADC, the Chief of Army Staff of the Indian Army shared his thoughts on the collaboration, stating, "The partnership between IndianOil and the Indian Army spans over six decades and is built on an unbreakable bond of trust. The Indian Army is committed to exploring and adopting innovative technologies that enhance our operational capabilities while ensuring environmental sustainability. We will be testing one of the hydrogen buses, and I must thank IndianOil for choosing the Indian Army as their partner."

Mr. S M Vaidya, Chairman, IndianOil, expressed his enthusiasm about this initiative, stating, "It is indeed a very momentous day today that a bus which is part of the green hydrogen fuel cell bus fleet will now be operated by the Indian Army. This collaboration with the Indian Army is a landmark step towards a greener and more sustainable future. IndianOil is currently operating 15 fuel cell buses in the Delhi-NCR region accumulating a total mileage of 300,000 kilometers i.e. 20000 kms on each bus”.

This initiative aims to promote hydrogen and fuel cell technology for heavy-duty e-mobility, positioning the Indian Army as a pioneer in evaluating this technology in collaboration with IndianOil, the premier energy company of India. The project will assess the performance of fuel cell electric buses for public transit in the demanding climatic conditions of the Delhi NCR region, analyzing the impact of local fuel and air quality on the performance of fuel cell systems and vehicles. Additionally, it will evaluate the effectiveness, longevity, and operational reliability of fuel cell buses intended for public fleet utilization.

This initiative marks a pivotal step in the journey towards sustainable transportation, setting a precedent for future collaborations aimed at advancing green hydrogen and fuel cell technologies in India.

Indian-origin Techie Develops Technology to Charge Phones/Laptops in A Minute and EVs in 10 Minutes

Ankur Gupta, an Indian-origin researcher and assistant professor of chemical and biological engineering at the University of Colorado Boulder, a public research university in Boulder, Colorado, United States, has made a significant breakthrough. His research has led to the development of a technology that can charge laptops and mobile phones in just one minute. Moreover, this technology also has the potential to charge electric vehicles in about 10 minutes.

The key to this innovation lies in the efficient movement of ions within a complex network of minuscule pores, which could lead to more efficient energy storage devices like supercapacitors. Supercapacitors are known for their rapid charging times and longer lifespans compared to traditional batteries. Gupta's work modifies Kirchhoff’s law, which has governed current flow in electrical circuits since 1845, by demonstrating how ions move due to both electric fields and diffusion.

This discovery is not only promising for personal electronic devices but also for power grids, where fluctuating energy demand requires efficient storage to avoid waste during periods of low demand and to ensure rapid supply during high demand¹. It's indeed an exciting development in the field of energy storage and could revolutionize how we charge our devices in the future.

The research is still in the development phase and has been published in the Proceedings of the National Academy of Science. Gupta's team at the University of Colorado Boulder has discovered how ions move within a complex network of minuscule pores, which is a significant step towards developing more efficient energy storage devices like supercapacitors

Technology

Ankur Gupta's technology is based on the efficient movement of ions within a complex network of microscopic pores, leading to rapid charging capabilities for devices like laptops, mobile phones, and electric vehicles.

Simplified Explanation of How Ankur Gupta's Tech works:

Supercapacitors: The technology utilizes supercapacitors, which are energy storage devices that store and release energy by accumulating ions in their pores.

Ion Movement: Unlike traditional batteries, where ions move relatively slowly, Gupta's technology allows for a more efficient movement of ions. This is achieved by optimizing the flow within a complex structure of interconnected pores.

Charging Speed: By enhancing ion mobility, the charging process becomes much faster, allowing for a laptop or phone to be charged in just a minute and an electric vehicle in about 10 minutes.

Energy Storage: This method is not only beneficial for personal electronics but also for power grids, where efficient energy storage is crucial to handle fluctuating demands.

The breakthrough lies in modifying Kirchhoff’s law, which traditionally describes current flow in electrical circuits. Gupta's research demonstrates how ions move due to both electric fields and diffusion, which is a significant departure from the behavior described by Kirchhoff’s law in a single straight pore.

This discovery enables the simulation and prediction of ion flow in a complex network of thousands of interconnected pores within minutes, which was previously not possible¹. It's a leap forward in energy storage technology, promising faster and more efficient charging for a variety of applications.

The research is ongoing, and it may take some time before we see this technology implemented in everyday devices. However, the potential impact of such a technology on the market and our daily lives could be substantial, offering much faster charging times and longer-lasting energy storage solutions.

Via ~ Sagar Khubchandani @LinkedIn

Source – Colorado.edu

Jio Financial Services Launches Beta Version of the 'JioFinance' App

Jio Financial Services has launched the beta version of the 'JioFinance' app. This new app aims to provide a comprehensive suite of financial services, including digital banking, UPI transactions, bill payments, and insurance advisory. It's designed to cater to users of all levels of familiarity with financial technology, ensuring effortless money management.

Key features of the JioFinance app include:

• Instant digital account opening
• Streamlined bank management with the Jio payments bank account feature
• A consolidated view of accounts and savings in a user-friendly interface
• Plans to expand loan solutions, starting with loans on mutual funds.

The app is currently in beta mode to invite user input for refinement and aims to make financial services more transparent, affordable, and intuitive. It's a significant step towards revolutionizing daily finances and digital banking.

To ensure customer satisfaction, "JioFinance" will launch in beta, inviting user input for refinement.

"We're excited to introduce the 'JioFinance,' app to the market. A platform that shall aim to redefine the way individuals manage their finances today. Our end goal is to simplify everything related to finance in a single platform for any user across all demographics, with a comprehensive suite of offerings like lending, investment, insurance, payments & transactions and make financial services more transparent, affordable and intuitive," said a company spokesperson.

Future plans for the app include expanding loan solutions, starting with loans on mutual funds and progressing to home loans. Overall, JioFinance aims to simplify financial services, making them more transparent, affordable, and intuitive for users.

Download — Playstore | iOS

Apple’s Worldwide Developers Conference to Kick Off June 10 With Keynote Address

The annual online conference takes place June 10-14 and promises an incredible week of technology and innovation

This Tuesday, Apple unveiled the lineup for its annual Worldwide Developers Conference, including Keynote and Platforms State of the Union, and shared more information about what developers will learn and experience all week. The free online conference brings the global Apple developer community together to provide them with insights into the latest technologies, tools, and frameworks coming to iOS, iPadOS, macOS, tvOS, visionOS, and watchOS. Throughout the week, developers will be able to hear from Apple engineers, designers, and other experts through more than 100 technical sessions, in-depth consultations, and live forums for guidance on building even more innovative and platform-differentiating apps and games across all Apple products.

Apple Keynote

June 10, 10 a.m. PDT
WWDC24 kicks off with a first look at groundbreaking updates coming to Apple platforms later this year. The Keynote address will be available to stream on apple.com/in, the Apple Developer app, the Apple TV app, and the Apple YouTube channel. On-demand playback will be available after the conclusion of the stream.

Platforms State of the Union

June 10, 1 p.m. PDT
Following the Keynote, the Platforms State of the Union will take a deeper dive into the latest advances across iOS, iPadOS, macOS, tvOS, visionOS, and watchOS, and new tools that will further empower Apple developers. The Platforms State of the Union will be available to stream on the Apple Developer app and the Apple Developer website. A playback will be available after the conclusion of the stream on the Apple Developer app, website, and YouTube channel.

Access to Experts

Apple Developer Program members and Apple Developer Enterprise Program members can connect directly with Apple experts through online labs and in-depth consultations for guidance on implementing the latest technologies, following best practices, and elevating their apps and games. Apple engineers and designers will also be available via live Apple Developer Forums to offer technical assistance.

Session Videos and Guides

With over 100 technical sessions released throughout the week, WWDC24 will offer developers a chance to hear from Apple engineers, designers, and other experts for a deeper dive into the latest technologies and frameworks. Sessions will be available on the Apple Developer app, website, and YouTube channel. This year, developers can also access curated guides to walk them through the conference’s biggest announcements, from new documentation to sessions and more.

Swift Student Challenge

Apple is proud to support developers through the Swift Student Challenge, one of many Apple programs that seeks to uplift the next generation of technologists, creators, and entrepreneurs. This year, 50 Distinguished Winners have been recognised for outstanding submissions and will visit Apple Park for a three-day experience with special activities throughout the week of WWDC.

Apple Design Awards

The Apple Design Awards celebrate excellence in app and game design and highlight the craft, creativity, and technical expertise that developers bring to their work. Meet this year’s finalists, who were unveiled today via the Apple Developer website and the Apple Developer app. This year’s winners will be announced soon.

Developer App

The Apple Developer app is a great way to experience WWDC24 on iPhone, iPad, Mac, Apple TV, and Apple Vision Pro. The Developer app is where developers can find all the latest news, video sessions, announcements, and activities. It’s also where developers can browse by topic, register for in-depth consultations, watch video sessions with their peers using SharePlay, copy code directly from session videos, and more.

Developers can also access all WWDC content, registration, news, feature stories, and documentation at developer.apple.com.

Salesforce Q1 Fiscal 2025 Results: Revenue of $9.13 Bn; To Pay $0.4 Bn in Dividend to Stockholders

Salesforce has announced its first quarter fiscal 2025 results, which ended on April 30, 2024.

Salesforce's CEO, Marc Benioff, expressed optimism about the company's position in the AI CRM market and its potential to help companies connect with their customers through AI over the next decade. Amy Weaver, President and CFO of Salesforce, highlighted the company's disciplined profitable growth and significant progress in their capital return program.

Key highlights —

First Quarter Revenue: $9.13 Billion, an increase of 11% Year-Over-Year (Y/Y), and also up 11% in Constant Currency (CC).

Subscription & Support Revenue: $8.59 Billion, up 12% Y/Y.

GAAP Operating Margin: 18.7%, and non-GAAP Operating Margin: 32.1%.

Current Remaining Performance Obligation: $26.4 Billion, up 10% Y/Y, and also up 10% in CC.

Operating Cash Flow: $6.25 Billion, up 39% Y/Y, and Free Cash Flow: $6.08 Billion, up 43% Y/Y.

The company returned $2.2 Billion in share repurchases and $0.4 Billion in dividend payments to stockholders.

For the upcoming second quarter of fiscal year 2025, Salesforce has initiated revenue guidance of $9.20 Billion to $9.25 Billion, which would represent a 7% - 8% Y/Y growth.

The full year FY25 revenue guidance remains at $37.7 Billion to $38.0 Billion, indicating an 8% - 9% Y/Y growth. However, the full year FY25 Subscription & Support Revenue Growth Guidance has been slightly lowered to just below 10% Y/Y.

The backbone of Salesforce's income is its subscription- based model, which provides a consistent and predictable revenue stream. This model supports ongoing innovation and value delivery to users.

These factors combined have contributed to Salesforce's robust financial performance and its ability to maintain a trajectory of growth.

For more detailed information, you can refer to the full earnings call transcript or the official press release.

TCS, IIT Bombay to Develop India’s 1st Quantum Tech based Tool for Semiconductor Chip Examination

Tata Consultancy Services (TCS) has partnered with the Indian Institute of Technology, Bombay (IIT-Bombay) to develop India's first Quantum Diamond Microchip Imager. This advanced sensing tool aims to unlock new levels of precision in the examination of semiconductor chips, reduce chip failures, and improve the energy efficiency of electronic devices.

The Quantum Diamond Microchip Imager is designed for semiconductor chip imaging. It will help improve quality control of semiconductor chips, leading to better product reliability, safety, and energy efficiency in electrical devices.

Over the next two years, experts from TCS will collaborate with Dr. Kasturi Saha, Associate Professor in the Department of Electrical Engineering at IIT-Bombay, to develop the quantum imaging platform in the PQuest Lab.

Semiconductor chips play a crucial role in modern electronic devices across various industries, including communications, computing, healthcare, military systems, transportation, and clean energy. They act as the "brains" of these devices, enabling data processing and task completion.

This collaboration aligns with the Government of India's National Quantum Mission, which aims to position India as a global leader in quantum technology. The mission focuses on quantum sensing and metrology, among other areas.

Dr. Kasturi Saha expressed excitement about the collaboration, emphasizing the potential to drive innovation and transform sectors such as electronics and healthcare. Dr. Harrick Vin, Chief Technology Officer at TCS, highlighted the transformative impact of this initiative on various industries, from electronics to healthcare and beyond.

By combining their expertise, TCS and IIT-Bombay are contributing to the ongoing Second Quantum Revolution, which emphasizes cutting-edge capabilities in sensing, computing, and communication technologies. This collaboration represents a significant step toward India's quantum technology leadership and a brighter future for all.

Wipro Collab with IISc's Centre for Brain Research for AI/ML -powered R&D on Health and Wellbeing

Wipro Limited has announced a collaboration with the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc) to pioneer AI-driven health behavior innovations. This partnership aims to leverage artificial intelligence (AI), machine learning (ML), and big data analytics to develop new technologies for precision support in the prevention and management of long-term health disorders.

The R&D team at Wipro, part of Lab45, will design and develop a personal care engine. This AI system will consider an individual's health history, desired health state, and other behavioral responses to promote healthy aging, positive lifestyle changes, and psycho-social wellbeing. The focus is on reducing and managing the risk of cardiovascular disease and correlated neurodegenerative disorders by personalizing interaction with users, optimizing for their long-term health and wellbeing.

Wipro will conduct a digital app-based trial in collaboration with CBR at IISc to test the engine's effectiveness for contexts deeply relevant for long-term health outcomes. The technological expertise of Wipro combined with the leading brain science research at CBR is expected to unlock new possibilities for patient care and cognitive and overall health. The joint R&D efforts will aim to develop systems that deliver better health outcomes at a population scale.

The personal care engine developed by Wipro in collaboration with the Centre for Brain Research at IISc is an AI-driven system designed to promote long-term health and psycho-social wellbeing. Below is how it works:

• Data Integration: The engine integrates various data points, including an individual's health history, behavioral responses, and their desired health state.
• AI and ML Algorithms: Using advanced AI and ML algorithms, the engine analyzes this data to identify patterns and make predictions.
• Personalization: It then personalizes its interaction with users, tailoring recommendations and support to encourage healthy aging and positive lifestyle changes.
• Health Management: The focus is on reducing the risk of cardiovascular disease and related neurodegenerative disorders by optimizing for the user's long-term health and wellbeing.
• App-Based Trial: Wipro will conduct a digital app-based trial to assess the engine's effectiveness in real-world scenarios, ensuring that the technology is beneficial for long-term health outcomes.

This personal care engine represents a significant step towards precision health, leveraging technology to deliver individualized care and support for managing chronic health conditions.

Dr. Ajay Chander, Head of Research and Development, Wipro Limited, said, “Our collaboration with CBR will pioneer solutions at the intersection of computing and cognitive sciences, bringing scalable personalized care support for some of the most chronic health challenges globally. Cardiovascular conditions are a particular focus for us, because of their strong association with long-term cognitive issues and the potential for broad health and wellbeing benefits at lower costs.”

Further emphasizing the importance of this partnership, Professor K.V.S. Hari, Director, Centre for Brain Research, said, “Working with Wipro allows us to amplify our scientific expertise through large-scale digital applications. This partnership will accelerate the path from research to real-world solutions in cognitive and overall health.”

Infosys Unveils Several AI-first Innovations for 2024 French Open Tennis Tournament, Roland-Garros 2024

Infosys has been making waves with its advanced AI-led innovations at Roland-Garros 2024. The Indian IT giant has partnered with the French Tennis Federation to introduce several AI-first innovations, marking a significant evolution in their sixth year of collaboration. These innovations are set to enhance the digital experience for fans, players, coaches, and the media alike.

Leveraging Infosys Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies, the new feature set will enhance the RG digital experience for fans, players, coaches, and the media. Beyond the set of existing innovations such as AI Assisted Journalism, AI Videos, and Match Centre, the following new experiences are slated to be launched this year.

Some of the key features introduced by Infosys include:

• RG Gen AI Poster Challenge – The RG Gen AI Poster Challenge features on the Roland-Garros digital properties and enables fans to create their artistic renditions of the iconic RG Posters using Generative AI. It brings alive the unique history of RG with modern technology. Fans will also be able to vote for their favorite poster; and winners will be awarded tickets for the RG 2025 edition.
• AI Bracket Challenge – The AI Bracket Challenge introduces a gamified layer to the Roland-Garros experience, inviting fans to engage in predictive gameplay by forecasting match outcomes throughout the tournament. It also features an AI powered auto predict feature that fans can leverage to help complete their brackets. The feature adds a competitive and immersive element to the tournament experience, with winners slated to get access to 2025 match tickets.
• New Symbol Room in RG’s Infosys 3D Art Museum – The newly introduced Symbol Room in the Infosys 3D Art Museum enriches the virtual visitor experience by providing a digital showcase of iconic symbols and moments from Roland-Garros history. This room, accessible through the RG website, features high-resolution 3D scans of memorabilia, interactive exhibits, and detailed narratives that bring the tournament's storied past to life.
• Split Screen Analysis in Players Portal – The enhanced Split Screen Analysis tool in the Players Portal offers a sophisticated analytical platform designed specifically for players and coaches. By providing side-by-side video comparisons and real-time performance analytics, this tool helps users dissect and understand gameplay nuances. Players can review their performances, compare them with past games or those of their opponents, and receive tailored feedback generated through AI-driven insights. This analysis supports strategic planning and training, allowing players to adapt their techniques and strategies based on detailed, data-backed evaluations.

These initiatives by Infosys are a testament to the potential of AI in transforming sports experiences, making them more interactive and insightful for everyone involved. It's a game-changing move that's sure to set a new standard for technology in sports.

Off court, Infosys and FFT continue a successful STEM program that will engage 30 students from Gerson School in Paris, providing them with firsthand learning experiences at Roland-Garros. Students will visit Roland-Garros and take part in dedicated workshops with tech experts from Infosys, aimed at helping them develop an understanding about how technology is used in tennis, further bridging the gap between technology and practical education.

The tournament runs from 20th May 2024 to 9th June 2024. To experience the latest digital innovations, visit Roland-Garros.com.

Cisco and AT&T Announce New Hassle-Free Digital Buying Experience for Cisco’s Newest FWA Devices

AT&T and Cisco have announced a new initiative to streamline the deployment of 5G Fixed Wireless Access (FWA) for businesses. This collaboration introduces a digital buying experience that simplifies the process for businesses to quickly extend connectivity across diverse campus and branch office environments.

The initiative features Cisco’s newest line of cellular gateways, the Meraki MG52 and MG52E, which are the first true-5G, Standalone (SA) capable, discreet FWA devices to offer cloud-managed eSIM technology powered by Cisco IoT Control Center¹. These devices are designed to be paired exclusively with an integrated wireless WAN service experience and zero-touch, instant-on provisioning from AT&T.

Businesses can benefit from:

• Increased operational efficiency with scalable and flexible management.
• Minimized downtime and disruptions with seamless, resilient network performance.
• Greater return on investment with long-lasting, durably designed FWA devices.
• The flexibility to deploy in difficult-to-reach locations.
• The ability to deploy branch sites within minutes with instant-on, built-in AT&T 5G connectivity.

With a complimentary 30-day introductory period, businesses can reduce deployment times for branch connectivity through self-service purchasing of AT&T data plans directly from the Cisco Meraki dashboard¹. This offer aims to help businesses lower operational costs, increase scalability, and accelerate provisioning of full-stack Cisco networks to "day-zero" operations. 

NTT Data to Acquire Majority Stake in Malaysian Payment Firm GHLSystems to Further Expand among ASEAN Countries

NTT DATA, a global IT services provider, has agreed to acquire a majority stake in GHL Systems Berhad, a leading Malaysian payment service provider. The acquisition involves a 58.73% share and is valued at RM724 million. This move is part of NTT DATA's strategy to expand its payment business across the ASEAN countries.

The agreement includes an unconditional share purchase from vendors Actis Stark (Mauritius) Ltd, APIS Growth 14 Ltd, Loh Wee Hian, and Tobikiri Capital Ltd, who collectively own the majority stake . Following the acquisition, NTT DATA will also extend a mandatory take-over offer to acquire all the remaining shares not already held by the company at RM1.08 per share.

This strategic acquisition is expected to strengthen NTT DATA's position in the Southeast Asian market by leveraging GHL Systems' established payment service network. The completion of the acquisition is anticipated within two market days from the date of the notice.

This acquisition positions NTT DATA to expand its influence in the ASEAN region. GHL Systems has an extensive network of over 480,000 payment terminals and comprehensive payment services in Malaysia, Philippines, Thailand, Indonesia, Singapore and Australia. With this acquisition, NTT DATA gains access to a broader customer base and market presence.

NTT DATA does not intend to maintain GHL's listing status. If NTT DATA manages to acquire more than 90% of the shares, it will withdraw the company's listing. This could impact GHL's visibility and regulatory requirements.

The acquisition may have financial implications for GHL, as following the completion of the acquisition, NTT DATA's direct shareholding in GHL will increase from nil to 670,440,235 shares, representing 58.73% 3. The financial resources available to NTT DATA will likely influence GHL's growth trajectory.

GHL Systems has a presence in India through GHL India Asset, which is described as a diverse fintech alternate investment platform. It aims to generate recession-proof income for investors and supports India's promising business ideas in top-growing markets.

GHL operations in India include a focus on the IT sector, with an emphasis on cloud services and digital transformation. The company's investment in India's IT sector is expected to hit US$ 5 billion annually by 2025.

With NTT DATA's recent acquisition of a 58.73% stake in GHL Systems, there is potential for further expansion and synergies in the Indian market. NTT DATA's expertise in IT services and consulting could enhance GHL's operations and offerings in India.

NTT DATA operates payment businesses through group companies in Asia, such as VietUnion Online Services (Payoo) in Vietnam, iPay88 in Malaysia and NTT DATA Payment Services India to contribute to the local societies of each country which, NTT Data claims, have been growing continuously.

At this time, NTT DATA has agreed to acquire a majority share of GHL Systemsfrom its major shareholders aiming to expand assets including services and know-how in the payment business and strengthen business foundations in the ASEAN region. NTT DATA also plans to propose a tender offer to its other shareholders following the rules at BURSA MALAYSIA, a stock exchange market in Malaysia.

UPS Setting Its Sights on India for Manufacturing Package Tracking RFID Tags

United Parcel Service (UPS), is setting its sights on India for manufacturing some of its radio-frequency identification (RFID) tags used for tracking packages, said a Reuters report. The world's largest parcel delivery company is currently in discussions with various Indian state governments to establish production facilities within the country. This decision aligns with India's ambitious plans to become a global chipmaking hub, an initiative heavily backed by Prime Minister Narendra Modi.

While details regarding the scale of investment and the official launch date remain under wraps, UPS's move signifies a potentially significant development on two fronts.

Firstly, for UPS, this could streamline their supply chain by establishing a regional manufacturing base for these tracking tags. Secondly, for India, this could be a major boost to their semiconductor industry, attracting further investment and technological expertise.

Notably, despite initial setbacks in offering $10 billion in incentives to the semiconductor industry, the Indian government continues to invest in semiconductor manufacturing.

Chief Digital and Technology Officer Bala Subramanian stated that they are working with potential partners to leverage the semiconductor investments made by the Indian government. UPS began expanding its use of RFID tags on packages about two years ago, significantly improving package tracking efficiency and reducing lost or misdirected packages. Subramanian mentioned that they plan to build these tags in India for global use, although specific details about the investment size and manufacturing timeline are yet to be disclosed.

While UPS currently lacks manufacturing capability in India, it opened its first technology center in Chennai, Tamil Nadu in August. This center complements its existing U.S. and European teams, allowing UPS to develop in-house technology. Subramanian emphasized that they will continue to grow in Chennai, further enhancing their technological capabilities.

In a conclusion, UPS's collaboration with Indian state governments aims to produce parcel-tracking tags locally, leveraging India's semiconductor investments and contributing to the country's chipmaking ambitions.

Deloitte Opens First Phygital Innovation Center in Bangalore

The largest professional services network, Deloitte, has recently inaugurated a groundbreaking 'phygital' innovation centre in Bengaluru. This innovative center, known as the Deloitte Centre of Innovation and Technology (DCIT), is a fusion of the physical and digital realms, offering domain-specific solutions to help businesses reduce costs and increase efficiency.

The DCIT aims to assist customers in finding new and sustainable ways to grow their businesses while fostering a culture of innovation. It serves as a hub for exploring cutting-edge technologies and envisioning novel business models.

The centre spans across an impressive 12,500 square feet and comprises five distinct zones:

• Retail: Focused on reimagining customer interfaces and experiences within the retail sector.
• Manufacturing: A space for creating diverse prototypes related to supply chains and product development.
• Digital Studio: Where innovative ideas come to life through technology, including 5G connectivity and AI.
• Immersive: Utilizing mixed reality, immersive reality, and augmented reality to provide hands-on, real-time experiences.
• Advanced Connectivity: Bridging visionary concepts with the delivery of high-quality products and services.

Deloitte emphasizes the importance of collaboration. The big-four company aims to bring together the entire ecosystem, including clients and alliance partners, on a co-creation journey. This collective effort ensures that diverse perspectives contribute to the success of the centre.

DCIT boasts over 60 use cases across various sectors, including retail, manufacturing, and healthcare. These use cases will be refreshed every 90 days, ensuring relevance and adaptability.

Through mixed reality and other technologies, DCIT provides hands-on experiences, allowing businesses to test scenarios before deployment. Understanding expected results is crucial for novel business ideas.

Deloitte collaborates with academia, including institutions like IIT Delhi and IIT Madras, to stimulate innovation and drive meaningful change.

Businesses can actively engage with Deloitte's DCIT to explore innovative solutions, reimagine customer experiences, and leverage cutting-edge technology for growth and efficiency. Moreover, the DCIT can act as an accelerator for startups, providing them with the tools, expertise, and ecosystem to turn their innovative ideas into viable, market-ready solutions.

Startups often have innovative ideas but may lack the resources to access advanced technologies. The DCIT provides access to technologies like 5G connectivity and Al, which can help startups bridge visionary ideas with the delivery of high- quality products and services. The DCIT can offer prototyping & product development for startups with facilities to create diverse prototypes, allowing startups to develop and test their products in a supportive environment. This can significantly reduce the time and cost associated with product development.

In essence, the Deloitte 'phygital' innovation centre represents a powerful convergence of physical and digital realms, where visionary ideas meet practical execution, ultimately benefiting both businesses and startups across industries.

World's First 5G Communication from Near Stratosphere Using 38GHz Band Achieved by a Group of Japanese Tech Companies

A group of Japanese Companies including –SKY Perfect JSAT Corporation, NTT DOCOMO, INC., the National Institute of Information and Communications Technology (NICT), and Panasonic Holdings Corporation (Panasonic HD) have jointly announced a groundbreaking achievement — the world's first demonstration of 5G communication from an altitude of approximately 4km using the 38GHz band. This significant milestone represents a major step toward the realization of 5G communication from the stratosphere. The stratosphere extends from from 4 -12 miles (6-20 km) above the Earth's surface to around 31 miles (50 km).

A small Cessna aircraft, operated by Kyoritsu Air Survey Co., Ltd., was used to simulate the eventual deployment of High-Altitude Platform Stations (HAPS). The Cessna was equipped with newly developed communication equipment called the "Cessna onboard station", which is expected to be deployed in HAPS. Additionally, a lens-type antenna with an auto-tracking function served as the HAPS ground station.

 

The trial established an aerial relay backhaul line between the Cessna aircraft (flying at an altitude of approximately 4km) and three ground stations. The communication link utilized the 5G New Radio (NR) standard with 38GHz band radio waves.

Notably, this approach represents a novel use of terrestrial 5G networks.

The successful demonstration achieved multiple backhaul lines consisting of aerial relays using the 5G NR standard with 38GHz band radio waves, marking a world first in telecommunication technology. With 5G evolution underway and 6G implementation on the horizon, efforts to expand coverage areas are crucial.

Non-Terrestrial Networks (NTN) using HAPS offer promising solutions for such expansions. The results from this demonstration will accelerate the practical application of HAPS networks.

The four organizations involved in this project remain committed to continuing their joint efforts, aiming for the early delivery of 5G connectivity from the stratosphere via NTN using HAPS. This achievement is part of a project focused on wireless communication systems using HAPS, led by Japan's Ministry of Internal Affairs and Communications.

This groundbreaking achievement opens up exciting possibilities for enhanced connectivity and communication in the future.

Reliance Industries is Partnering Tech Mahindra and Nokia to Offer 4G and 5G Network Support in Ghana

Reliance Industries Limited (RIL), led by Mukesh Ambani, is expanding its telecom playbook beyond India. The company plans to offer 4G and 5G network support in Ghana, the second-most populous country in West Africa.

Reliance is partnering with Anand Mahindra's Tech Mahindra and Finnish multinational telecommunications company Nokia for this venture.

Ghana is poised to roll out 5G services within the next six months, bridging the digital divide and transforming lives and businesses through high-speed mobile data. The Minister of Communications and Digitalisation, Ursula Owusu-Ekuful, expressed inspiration from India's digital infrastructure and low-cost mobile data model. Ghana aims to replicate this success by rapidly expanding 5G services across the country.

Next-Gen Infrastructure Company (NGIC) , which has the Ghanaian government, Ascend Digital, and K-Net as stakeholders, will be involved in this initiative. NGIC is the first neutral 5G shared infrastructure provider in Africa. It has been awarded Ghana's first 5G license and aims to build and operate a nationwide 4G/5G network.

NGIC plans to invest around Rs 1661 crore over three years to scale up its 4G and 5G networks in Africa. This investment will help mobile operators optimize costs by sharing infrastructure resources.

NGIC'S CEO, Harkirit Singh, announced plans to launch its wholesale 4G/5G Network as a Service within the next six months. The company aims to deliver affordable mobile broadband services to all Ghanaians and eventually expand to other parts of Africa.

Radisys, a subsidiary of RIL, will offer NGIC its own 5G software stack. Jio Platforms Ltd’s 5G stack uses Open radio access network technology and gear for delivering 5G-based fixed wireless access (FWA) services in African markets, starting with Ghana.

Anand Mahindra promoted Tech Mahindra is tasked with developing a Cloud-Native Core Network, leveraging platforms from leading original equipment manufacturers (OEMS). This core network will be a critical component in delivering high-speed data access to Ghana people.

Nokia, a global leader in telecom technology, brings its expertise in mobile broadband technology to the table. Nokia will contribute to supporting the establishment of an open-access network model designed to spur innovation and create economic opportunities in Ghana.

Radisys, a global leader in open telecom solutions, was acquired by RIL, in June 2018, to bolster its offerings in the telecom sector, particularly in areas like 5G and the Internet of Things (IoT). The acquisition was at a price of US$1.72 per share in cash, which amounted to a total deal size of approximately $74 million.

Headquartered in Hillsboro, Oregon, with an engineering team based out of Bengaluru, India, Radisys has been instrumental in providing disruptive open-centric software, hardware, and service capabilities that enable the migration to next-generation network topologies.

This collaboration of RIL, through its subsidiary Radisys, with Tech Mahindra and Nokia aims to enhance telecom capabilities and digital experiences in Ghana and potentially other African countries.

Mukesh Ambani, Asia's richest man and the head of Reliance Industries Ltd., has set his sights on Africa with an ambitious telecom venture with the goal of winning mobile broadband customers in a high-growth market of Africa, and Radisys plays a crucial role in this.

Russia Offers India Deployment of Its Advanced Floating Nuclear Power Plant (FNPP) Technology

Russia has officially offered India the deployment of its advanced Floating Nuclear Power Plant (FNPP) technology. This proposal could significantly impact India's energy landscape, especially in terms of providing reliable power to remote regions and coastal areas. The announcement came in a ROSATOM press release following a meeting between top nuclear officials from both countries and encompasses multiple facets of nuclear energy cooperation.

FNPPs are self-contained, sea-based platforms housing small nuclear reactors. They are designed to be strategically positioned off the coast and can be connected to the onshore power grid, offering a flexible and relocatable energy source¹.

Russia has been a pioneer in the field of FNPPs. The Akademik Lomonosov is the world's first operational FNPP, which has been successfully powering the Chukotka region in the Arctic since 2019.

 

Akademik Lomonosov – World's Only Floating Nuclear Power Plant

The offer aligns with India's growing energy demands and its commitment to diversifying energy sources. FNPPs present a potential solution to the challenges of supplying reliable power to regions where traditional infrastructure may be lacking.

To recall, in November 2022, India's Science & Technology minister Dr Jitendra Singh had told that India is taking steps for development of Small Modular Reactors (SMR), with up to 300 MW capacity to fulfill its commitment to Clean Energy transition.

Last month, IndianWeb2 reported that BARC is working on a mobile nuclear reactor that uses a teleoperated system of a mobile robot, wireless network, and control stations. The mobile robot is Ackerman steered and has a mission time of 10 hours on a single charge.

Getting back to FNPPs, these are designed to withstand harsh marine environments and incorporate robust safety measures to prevent accidents. They also offer a low-carbon alternative to fossil fuel-based power generation, contributing to India's sustainability goals. However, concerns regarding nuclear safety, waste management, and potential environmental impacts will need thorough consideration before any deployment.

The Russian offer extends beyond FNPPs, including serial construction of Russian-designed land-based nuclear power units, cooperation in nuclear fuel cycles, and exploration of non-power applications of nuclear technologies. This comprehensive approach underscores the depth of potential collaboration between the two nations in the nuclear energy sector.

For India, this presents an opportunity to bolster energy security and strengthen ties with Russia. However, India must carefully weigh this partnership against its existing energy collaborations and broader foreign policy considerations.

The global interest in FNPPs is growing, and the International Atomic Energy Agency (IAEA) has hosted discussions on the benefits, challenges, and regulatory implications of this emerging technology. It's a space that's garnering international attention for its potential to revolutionize energy supply in sustainable ways.

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Infosys Collaborates with Leading German Bank Commerzbank

Infosys, a global leader in next-generation digital services and consulting, recently collaborated with Commerzbank, a leading German bank, and Murex, the global leader in trading, risk management, and processing solutions for capital markets. Together, they achieved a successful go-live of a consolidated, unified trading platform that streamlines Commerzbank's business processes and IT landscape.

Commerzbank consolidated FX, FX derivatives, equity, and commodities onto Murex's integrated MX.3 platform. This move simplifies operations, cuts costs, speeds up time to market, and prepares the bank for future challenges. Infosys' Role in this is to support Commerzbank by optimizing the utilization of Murex's comprehensive suite of solutions and services. Infosys handled development, integration, testing, migration, go-live, and aftercare support.

The platform consolidation significantly enhances process efficiency and benefits Commerzbank. It simplifies the technology landscape, reducing the cost of managing multiple servers and platforms.

The transformation lays the foundation for future business growth and scale.

Sebastian Kauck, CIO Corporate Clients at Commerzbank, emphasized the collaboration's success. He stated that the new setup enables Commerzbank to enhance process efficiency while simultaneously reducing costs. It also positions the bank for future business growth and swift adaptation to market changes.

Luc Testud, Murex Managing Director for Central Europe, expressed pride in supporting Commerzbank's model simplification journey. The integrated cross-asset platform accelerates innovation and enables further steps in digitalization².

Dennis Gada, Executive Vice President and Global Head of Banking & Financial Services at Infosys, expressed delight in collaborating with Commerzbank. The consolidation empowers Commerzbank to improve time to market, streamline operations, promote standardization, and effectively manage regulatory changes while fostering sustainable growth.

This transformation paves the way for future modernization and digitization of Commerzbank's trading ecosystem.

Zoho Invests in Drone Tech Startup Yali Aerospace

Sridhar Vembu promoted SaaS company Zoho Corporation has recently invested in Yali Aerospace, a Tamil Nadu-based drone technology startup. Yali Aerospace has developed a fixed-wing drone with vertical take-off and landing (VTOL) capabilities.

The VTOL drone has range of up to 150 km and can carry a payload of up to 7 kg. The drone has Maximum Speed of 155 km/h. These drones address critical challenges, such as delivering medicines and organs to remote areas efficiently.

India's commercial drone market is projected to grow at a CAGR of 12.4% from 2020 to 2026. Increased investor interest in the drone space is evident, with recent developments like Google's subsidiary Wing LLC starting drone manufacturing in Tamil Nadu.

Sridhar Vembu, CEO of Zoho, announced the investment, in Yali Aerospace, on X (formerly Twitter). Zoho's investment in Yali Aerospace aligns with India's growing interest in drone technology startups. Yali's innovative solutions caught Zoho's attention, and this investment reflects their commitment to supporting cutting-edge Ventures.

 

Based out of Thanjavur, a city in Tamil Nadu, Yali Aerospace specializes in providing drone solutions for various applications, including – Medical: delivering medical supplies and organs, to remote hospitals using their drones; Surveillance: for monitoring and security purposes; Logistics: Yali's technology facilitates efficient logistics, including transportation of critical resources.

Yali Aerospace, the drone startup, was founded in 2022 by a husband-and-wife team, Dinesh Baluraj and Anugraha Ganeshan, along with Mathuravani. Yali Aerospace aims to build the future of aviation by leveraging cutting-edge technology and beyond-visual-line-of-sight (BVLOS) experience.

Interestingly, Yali Aerospace offers flagship service called 'Yali Network Bridge', which aims to deliver medical supplies within 20 minutes across India. By establishing a drone-based delivery network, Yali contributes to seamless distribution of vital medical resources, ultimately improving healthcare outcomes.

Additionally, Yali's SkyBase (YNB) serves as a drone hub, connecting hospitals for transporting organs, medical supplies, and automated external defibrillators (AEDs).

Zoho's investment in Yali Aerospace comes at a time when the company is diversifying beyond its core business. Zoho has been investing in areas such as artificial intelligence, data centers, and now, drone technology.

Earlier, Zoho also invested in Saudi Arabia's digital infrastructure development and explored manufacturing hardware devices.

This investment by Zoho underscores the importance of innovation and technology in addressing critical challenges across various sectors. Yali Aerospace's work in the drone domain holds immense promise for healthcare, logistics, and surveillance applications.

HCLTech and Arm Collaborate on Custom Silicon Chips That Support AI-driven Business Operations

HCLTech and Arm, the global semiconductor design and software platform company, have announced a collaboration to develop custom silicon chips optimized for AI workloads. This partnership is set to bring to market solutions that will enable semiconductor manufacturers, system OEMs, and cloud service providers to enhance the computing efficiency of their data center environments and meet evolving customer demands. 

The collaboration will leverage Arm's Neoverse Compute Subsystems (CSS) to help clients minimize development risks and swiftly deliver innovative, market-customized solutions geared toward improved performance and scalability for AI workloads. HCLTech has been granted preferential access to Neoverse CSS as a member of Arm Total Design, an ecosystem designed to accelerate the delivery of Arm-based custom silicon chips. 

This strategic partnership is expected to drive technology advancement and innovation in the semiconductor industry, particularly in the development of industry-leading custom AI silicon solutions that will revolutionize the way AI workloads are managed in data center environments¹. For more detailed information, you can view the full press release on HCLTech's official website.

"HCLTech’s collaboration with Arm will contribute to the development of industry-leading custom AI silicon solutions that will revolutionize the way AI workloads are addressed in data center environments. Together, we look forward to spearheading technology advancement and innovation in the semiconductor industry," said Ameer Saithu, Executive Vice President, Engineering and R&D Services, HCLTech.

“Through Arm Total Design, our partners can leverage the expertise and support of other industry leaders to bring custom silicon solutions to market faster. HCLTech is a welcome addition to the ecosystem, and we are excited to see how they leverage their custom AI silicon capabilities and Arm Neoverse CSS to innovate next-generation solutions,” said Guru Ganesean, President of Arm India.

Earlier in this month, Tata Elxsi collaborated with Arm, the global semiconductor design and software platform company, to offer advanced solutions on the latest Arm® processors, which will help Automotive OEMs and Tier-1s fast track their transition to software-defined vehicles (SDVs).

Last year in July, Centre for Development of Advanced Computing (CDAC) announced collaboration with Arm, to broaden the support under the Design Linked Incentive Scheme (DLI) and boost the growth of the semiconductor market in India.

Adani Energy Solutions Board Approved Fundraise of Up to Rs 12,500 Crore ($1.50 Billion)

Adani Energy Solutions Limited (AESL) has approved a significant fundraise. The board has given the green light to raise up to Rs 12,500 crore (approximately $1.50 billion). This fundraising is planned to be executed through various permissible modes, which may include a Qualified Institutional Placement (QIP) or other methods.

The company has stated that this move is subject to receiving the necessary approvals at the upcoming Annual General Meeting (AGM), which is scheduled for June 25, 2024. It's a substantial step for Adani Energy Solutions, reflecting their strategic financial planning and growth initiatives.

After the corporate announcement, shares of Adani Energy settled 0.17% lower at Rs 1,104.05. This slight decline indicates that investors are closely monitoring the situation.

The Adani Group's power distribution company, in a notice to BSE last week, said its board will meet on Monday to consider and approve the fundraise proposal. While the specific reasons for this fundraise have not been explicitly stated, there are several potential factors that could contribute to the decision.

Adani Energy Solutions may be planning to expand its operations, invest in new projects, or enhance its existing infrastructure. The funds raised could support these growth initiatives.

The company might require additional capital for capital expenditure (CapEx) related to energy projects, including setting up new power plants, transmission lines, or distribution networks.

In another possible reason, companies often raise funds to repay existing debt or refinance high-cost debt. Adani Energy Solutions may use part of the proceeds to reduce its borrowings.

The funds could also be earmarked for strategic investments in related sectors or technologies. For instance, investing in renewable energy sources or exploring new business opportunities.

Adequate working capital is crucial for smooth operations. The company may allocate a portion of the funds to meet short-term operational requirements.

Besides all, a substantial fundraise can enhance the company's financial position, improve credit ratings, and boost investor confidence.

In a nutshell, while the specific reasons remain undisclosed, Adani Energy Solutions' fundraise aligns with its growth strategy, financial needs, and market dynamics. The upcoming Annual General Meeting (AGM) on June 25, 2024 will provide further clarity on the utilization of these funds.

Elon Musk's AI Firm xAI Completes $6 Bn in Series B Funding from Valor Equity Partners, Vy Capital, a16z, Sequoia Capital, Other Key Investors

Elon Musk's xAI, an AI company, has successfully completed a Series B funding round, raising a significant amount of $6 billion. This funding round included participation from prominent investors such as Valor Equity Partners, Vy Capital, Andreessen Horowitz (a16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal, and Kingdom Holding, amongst others.

The company has made considerable progress over the past year, including the release of the Grok-1 model and its subsequent updates. The funds from this round will be used to bring xAI's first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.

The Grok-1 model is a highly advanced Al language model developed by xAl. It's known for its 314 billion parameters and utilizes a Mixture of Experts (MoE) architecture. The Grok-1 model was trained from scratch by xAl using a custom training stack on top of JAX and Rust, and it was open-sourced on March 17, 2024 2. The model is not fine- tuned for any specific application, such as dialogue, but rather provides a base model trained on a large amount of text data 2. The weights and architecture of Grok-1 are available under the Apache 2.0 license, and the model can be accessed and used by the public. Launched in July 2023, xAI is primarily focused on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity. The company’s mission is to understand the true nature of the universe. With the open-source release of Grok-1, xAI has opened doors for advancements in various applications, optimizations, and extensions of the model.

Elon Musk, who is associated with xAI, has been an early and influential figure in the AI space. The company aims to develop AI systems that are truthful, competent, and maximally beneficial for humanity.

For those interested in joining xAI's mission, the company is currently hiring for various roles and those interested in experimenting with or contributing to the Grok-1 model, the code and weights are available on GitHub.

Infosys Among Top Contenders for Building Govt’s New KYC Repository 'CKYCRR 2.0'

Infosys is reportedly one of the leading contenders to build the government's new KYC repository, known as CKYCRR 2.0. The project involves creating a more advanced and scalable system to house the central repository of KYC records and migrating existing citizen data into this new framework.

CKYCRR 2.0, or the Central KYC Records Registry 2.0, is an upgraded and advanced version of India's centralized repository for Know Your Customer (KYC) records. It is being developed to address the limitations of the previous system by providing a more reliable and comprehensive database of KYC information. The new system aims to be a "single source of truth for KYC," ensuring that all customer data is accurate, complete, and up-to-date.

The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) is overseeing this initiative. The upgrade to CKYCRR 2.0 is part of a broader effort to tighten KYC compliances and address issues such as non-reliability of data and incomplete customer records. The new "single source of truth for KYC" system will be accessible to citizens, allowing them to view their KYC records and receive notifications whenever their information is uploaded, updated, or downloaded by financial institutions.

This move comes at a time when regulatory bodies are intensifying their focus on KYC compliance, with recent actions taken against business payment solution providers and other financial entities for violations related to KYC and anti-money laundering regulations.

Besides Infosys, there are other companies competing for the CKYCRR 2.0 project. While the specific names of these companies have not been disclosed, it is known that several large IT firms were invited to bid for the project. The tender process involved a pre-bid meeting with prospective bidders and was managed by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI).

The bidding process was quite competitive, and potential bidders, including Infosys, had shared pre-bidding suggestions and challenges before finalizing their submissions. The tender, which was initially set to close on April 16, 2024, was extended to May 15, 2024, after requests from bidders¹. This indicates the high level of interest and the critical nature of the CKYCRR 2.0 project.

54% Indian leaders Worry their Organization Lacks An AI Plan – Microsoft and LinkedIn 2024 Work Trend Index

91% Indian leaders believe they need to adopt AI to stay competitive, 54% worry their organization lacks an AI plan

The 2024 Work Trend Index released by Microsoft and LinkedIn provides a comprehensive view of how AI is shaping the workplace. Here are some key insights from the report:

• 75% of knowledge workers now use AI at work, with many bringing their own AI tools to the workplace.
• AI is seen as a business imperative by 79% of leaders, yet 59% worry about quantifying AI's productivity gains.
• The report suggests a hidden talent shortage and a massive opportunity for those willing to skill up in AI.

The report titled, “AI at work is here. Now comes the hard part”, highlights the importance of AI in democratizing expertise and driving better decision-making and business outcomes.

In addition to the insights mentioned above, the 2024 Work Trend Index highlights the following trends related to AI in the workplace:

1. Employees Want AI at Work: Three out of four knowledge workers (75%) now use AI at work. Employees find that AI saves time, boosts creativity, and allows them to focus on their most important tasks. While 79% of leaders agree that AI adoption is critical for remaining competitive, 59% worry about quantifying the productivity gains of AI, and 60% feel their company lacks a vision and plan for implementing it. Interestingly, 78% of AI users are bringing their own AI tools to work, demonstrating a strong desire for AI integration.

2. AI Raises the Bar and Breaks the Career Ceiling: AI is beginning to impact the job market. While concerns about AI and job loss persist, the data reveals a more nuanced story. More people are considering a career change, job opportunities are available, and employees with AI skills are in high demand. As AI democratizes expertise across the workforce, professionals who skill up in AI have a significant advantage in the evolving job landscape.

These trends underscore the transformative role of AI in reshaping work and the labor market. Organizations and individuals alike need to adapt to this new reality to thrive in the AI-driven workplace.

Types of AI users

Four types of AI users emerged in the research report —from skeptics who rarely use AI to power users who use it extensively, with novices and explorers in between. Compared to skeptics, AI power users have fundamentally reoriented their workdays with 90% of Indian AI power users beginning their day with AI and 91% relying on it to prepare for the next day. They are also 37% more likely to seek guidance from co-workers regarding useful prompts and 47% more likely to experiment with AI.

AI power users are nearly 20% more likely to receive training, particularly on prompts and role-specific AI usage, compared to other employees. They are also 65% more likely to receive communication from the CEO on generative AI, 34% more likely from the function or department lead, and 44% more likely from their manager’s manager.

Meta Partnered Bain & Company for India-based Report on Impact of Generative Al–powered Conversational Commerce

Meta has collaborated with Bain & Company to produce the "Win With Conversations" report, which offers valuable insights into the evolving landscape of digital platform conversations. The report highlights the transformative impact of generative AI-powered conversational commerce in India.

Key findings from the report include:

• A significant growth in digitization in India, with over 650 million active social media users, yet only 30% shop online.
• Among small merchants, only 15% of the formalized small businesses are selling online.
• There's a strong user preference for conducting transactions via conversational journeys, especially for high-frequency interactions like accessing bank statements, booking travel, and paying utility bills.
• Over 60% of large enterprises plan to increase spending on conversational platforms in the next 3–4 years, and 80% are planning to invest in generative AI within the next 1–2 years.

According to the report, GenAI-powered conversational commerce is set to significantly boost business growth in India. The integration of generative AI with conversational platforms is transforming the way businesses interact with customers, offering a more personalized and efficient shopping experience. Here are some additional insights:

1. Increased Consumer Reach: GenAI-powered conversational messaging platforms could bring an additional 450 Million Indian consumers to e-commerce.

2. Investment Surge: A substantial 60% of large enterprises plan to increase their spending on conversational platforms over the next 3–4 years, with 80% planning to invest in generative AI within the next 1–2 years.

3. Enhanced Customer Engagement: About 70% of surveyed large enterprises are already engaging with half of their customer base using conversational platforms.

4. Business Messaging Growth: Business messaging is seen as a key growth driver, with 60% of WhatsApp users in India messaging a business every week.

The "Win With Conversations" report by Bain & Company and Meta underscores the potential for conversational commerce to redefine customer engagement and provide businesses with a competitive edge. As digital adoption grows, leveraging GenAI in conversational commerce will be crucial for businesses aiming to tap into the vast, untapped market of online shoppers in India.

The report underscores the potential for conversational commerce to engage the next wave of consumers and the importance for businesses to adapt to this trend for sustained growth and customer engagement. It's a clear indication that businesses are recognizing the need to leverage AI and conversational platforms to build stronger connections with their customer base.