Tata Consultancy Services (TCS), India’s largest IT services company, chairman N Chandrasekaran has said that generative artificial intelligence or GenAI technologies will impact almost every sector and country going forward, according to the annual report 2024 released on Thursday.“Enterprises have already invested in cloud, data infrastructure and large processing power which will aid AI/ GenAI. GenAI will not only improve productivity, but also create impact we hitherto have not seen or...
The overall remuneration of Tata Consultancy Services (TCS) CEO and MD K Krithivasan in FY24 was Rs 25.2 crore, slightly less than former CEO Rajesh Gopinathan’s at Rs 29.16 crore in FY23.However, it is to be stated that Krithivasan’s remuneration “includes compensation for the full year, i.e. as Global Head of Banking, Financial Services and Insurance (BFSI) for April 1, 2023 to May 31, 2023 and as CEO and MD from June 1, 2023 to March 31, 2024”, reads the annual report of TCS that the company...
In a setback for Elon Musk’s brain technology company, Neuralink Corp., the device it implanted in its first human patient has had mechanical issues, the company wrote in a blog post.In the weeks following the January surgery on patient Noland Arbaugh, some of the electrode-studded threads that sit in the brain tissue began to retract from that tissue, the company said, resulting in the device not working properly.The Wall Street Journal earlier reported news of the malfunction. Neuralink said...
An ad for the new iPad Pro caused an uproar Wednesday for showing an industrial-sized hydraulic press crushing objects linked to human creativity -- such as a record player and trumpet -- into a sleek tablet.Social media users immediately criticized the ad, which was posted on X by Apple CEO Tim Cook, as painfully tone-deaf at a time when the creative community is worried about its future with the emergence of generative AI. The destruction of the human experience. Courtesy of Silicon Valley, ...
The EU on Wednesday told digital platform X to explain a cut to content moderation resources, amid concerns over disinformation ahead of European elections in June.The demand is part of the EU's probe into US tech billionaire Elon Musk's X, the former Twitter, that was launched in December under a law clamping down on illegal content online.The European Union has launched a similar probe into Meta's Facebook and Instagram amid fears they are also doing too little to tackle...
Social media platforms will be hit by fines of up to $22.5 million unless they take action to ensure their algorithms do not direct children towards harmful content, the UK communications regulator Ofcom said Wednesday.A new British online safety law imposes new legal responsibilities on platforms to protect children, and Ofcom published a draft code of practice that establishes how they should meet them."In line with new online safety laws, our proposed codes firmly place the responsibility for...
Google Deepmind has unveiled the third major version of its AlphaFold artificial intelligence model, designed to help scientists design drugs and target disease more effectively. In 2020, the company made a significant advance in molecular biology by using AI to successfully predict the behaviour of microscopic proteins. With the latest incarnation of AlphaFold, researchers at DeepMind and sister company Isomorphic Labs - both overseen by cofounder Demis Hassabis - have mapped the behaviour...
Google parent Alphabet has urged a London tribunal to block a mass lawsuit which accuses it of abusing its dominance in the online advertising market, in the latest case to focus on the search giant's business practices. The lawsuit seeks damages of up to 13.6 billion pounds ($16.9 billion) on behalf of publishers of websites and apps based in the United Kingdom, who say they have suffered losses due to Google's allegedly anticompetitive behaviour. Lawyers for Ad Tech Collective Action asked the...
Elon Musk’s artificial intelligence startup X.AI Corp. is set to close its funding round at a valuation of about $18 billion as soon as this week, according to people familiar with the matter.The size of the round hasn’t been finalised, the people said, asking not to be identified as the information isn’t public. The maker of AI chatbot assistant Grok was set to raise $6 billion in the round, whose participants include Sequoia Capital, Bloomberg News has reported.Deliberations are ongoing and...
Happy Thursday! Ride-hailing platform Uber is strengthening its hyperlocal deliveries from neighbourhood stores. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ Ecommerce summer sales soar■ Betting apps & poll outcome■ Centre mulls R&D wing Uber ups hyperlocal deliveries amid quick-commerce frenzy 109963318Dara Khosrowshahi, CEO, UberWith the rapid rise of quick commerce in India, ride-hailing platform Uber has launched hyperlocal deliveries from neighbourhood...
Private equity and venture capital firms will continue to remain cautious on their capital deployment in 2024 as global macro conditions rebound over time. However, India will continue to benefit from outsized capital allocation and is expected to reach $80-100 billion in annual deployment over the next five years, Bain & Company partner Prabhav Kashyap told ET.This estimate compares to about $39 billion in 2023, as per a report by Bain & Company called India Private Equity Report 2024. Deal...
Paytm Payments Bank (PPBL) has migrated its bill payment business to Euronet Services India, said two people in the know. This comes after the shifting of PPBL’s retail point of sales business to RBL Bank and the settlement business for merchant payments to Axis Bank.Euronet is an American payment technology company handling backend settlement systems for several digital payment modes in India. “Since Paytm Payments Bank was asked to stop offering services, they had to migrate to someone else,...