Page 2 - Tech Sector

To fund artificial intelligence boom, technology plans plumbing upgrade

The money being thrown at technology to support artificial intelligence is also a reminder of spending patterns of the dot-com boom of the 1990s

Google carries out fresh round of layoffs in an attempt to cut costs

The layoffs come during a period of sluggish hiring across the tech sector

31% of women in tech considering quitting their jobs, shows survey

Poor management, lack of training and want for better compensation are the main reasons they want to leave their organisations

Q4 Preview: TCS to lead IT pack; may see upper single digit rise in profit

Reversal of furloughs and incremental contribution from the BSNL deal and other deals will fuel the revenues

IPEF to organise clean economy investor forum in Singapore in June

The department has invited applications from domestic climate and tech entrepreneurs for participation in the meeting

Metastable Materials plans to expand high-yield battery recycling capacity

Founded in October 2021, the company's current manufacturing facility, located in Bangalore, holds a capacity to extract 5 tonnes of materials per day

Big Four accounting firms escalate hiring of techies amid digital focus

Areas such as AI, cloud computing, data analytics and cybersecurity see 'significant hiring'

India to create 24 mn tech-savvy manpower for global markets: Foundit CEO

India is set to create 24 million tech-savvy skilled manpower for the global market in the next 3-5 years, according to Sekhar Garisa, CEO of Bengaluru-based Foundit, a job placement platform. Foundit is already working with 90 million registered jobseekers, 70 per cent, or 63 million, of whom are from Indian technology institutes, he said at the launch of the next-generation recruitment solution app in Singapore on Wednesday evening. "India remains one of our biggest sources of skilled manpower, especially the Indian technology institutes," he said. "Currently, 60 per cent of our job arrangements are in India, followed by 35 per cent in Southeast Asian countries and 5 per cent in the Middle East," he said. Over the next 3-5 years, the target is to create a database of 600 million skilled people from global talent hunt, 80 million of which will be from India, including the current 56 million or so, he estimated. Formerly known as Monster, Foundit was rebranded in 2022 with a focus

Policy stability important for semiconductor industry to flourish: Micron

Micron is investing the $825 million over the two phases of the project and will create up to 5,000 new direct Micron jobs and 15,000 community jobs over the next several years

Tech cos in India hope for chunk in $300 bn global AI market by 2027

The country has several advantages, including one of the world's largest pools of IT and engineering talent and a fast-growing domestic market, they concluded

Two of every three CXOs say GenAI will have existential impact: EY

The study also says that GenAI can provide value-uplift for internal support functions of tech companies

India closes in on Vietnam for tag of 'alternative to China' in tech sector

Owing to the persistent strain in US-China relations, Chinese supply chains have been looking at moving out of their country to locations which the US considers to be 'friendly'

Data centre firm Yotta's Nvidia AI chip orders to reach $1 billion: CEO

Sunil Gupta, CEO and co-founder of Yotta, told Reuters on Thursday that the order would comprise nearly 16,000 of Nvidia's artificial intelligence chips H100 and GH200 and will be placed by March 2025

2023 sees 15% more start-up/ tech layoffs than 2022, majority in edtech

On average, at least 45 people lost their jobs daily based on data collated by the website. This is 15.3 per cent higher than the 14,224 layoffs recorded in the previous year

Tech transfer, finance for energy transition still a challenge: Min Yadav

Technology transfer and finance for low-carbon transition of hard to abate sectors like iron, steel, cement, and transport remains a challenge, Environment Minister Bhupender Yadav said at the UN climate talks on Sunday. Addressing an event, he said the global industrial landscape has seen a significant shift since the launch of LeadIT, an initiative focusing on low-carbon industrial, in 2019. "However, the real transition challenges of technology transfer and finance are yet to be addressed," he said. Yadav emphasised collaborative international mechanisms to tackle challenges, particularly barriers like intellectual property rights for technology transfer. He described the India-Sweden LeadIT partnership as an alliance to address the climate crisis and harmonise industries with the environment. The minister encouraged stakeholders to collaborate on innovation, technology, and collaboration to build a sustainable, inclusive industry for the future. Swedish Minister of Climate an

30-plus countries to participate in Bengaluru Tech Summit starting tomorrow

The Karnataka government's annual global Bengaluru Tech Summit (BTS) will begin on Wednesday, bringing together tech leaders, startups, investors and research labs from 30-plus countries. Organised by the Karnataka's government's Department of Information Technology and Biotechnology along with the union government's Software Technology Parks of India, the three-day 26th BTS, with the theme 'Breaking Boundaries', will be inaugurated by Chief Minister Siddaramaiah at Palace Grounds here. Kazakhstan's Minister of Digital Development, Innovations and Aerospace Industry Bagdat Mussin and Semiconductor company AMD's EVP & CTO Mark Papermaster will be among the VIP dignitaries present at the inauguration. A recorded message from Finland's Minister of Science and Culture Sari Multala as well as one from Germany's Minister of Digital Affairs and Transport Volker Wissing will be relayed at the opening event. Key figures from Indian industry, including Rishad Premji, Executive Chairman of .

US, Britain, other countries ink agreement to make AI 'secure by design'

The agreement, signed by 18 countries, is non-binding

Explore tie-ups with deep tech startups: Principal science adviser A K Sood

India's top science adviser has asked science and technology clusters to collaborate with deep tech startups and strive to become self-sustainable in the future. Referring to the recently-announced draft National Deep Tech Startup Policy, Professor A K Sood, the principal scientific adviser to the government, has suggested that the clusters can effectively collaborate with the deep tech startups operating under this policy framework, according to an official statement. Sood was speaking at the first joint Science and Technology (S&T) Clusters' Meet in Rajasthan's Jodhpur. The meet concluded on Friday. It was organised by the Jodhpur City Knowledge and Innovation Foundation (JCKIF) and hosted by the Indian Institute of Technology (IIT), Jodhpur. Launched in 2020, the City S&T Clusters is a flagship initiative of the Office of the Principal Scientific Adviser to the Government of India, established on the recommendation of the Prime Minister's Science, Technology and Innovation .

India needs 22 mn skilled workers in 5G focussed industries by 2025: TSSC

But only 40% of Indian graduates in computer science, IT, and math are employable in tech sector

Mphasis acquires Salesforce service partner Silverline for over $132 mn

Mphasis says the deal is part of its plan to prepare for future applied technology and predict trends