Technology Boom

Ethical concerns on use of AI demand robust safeguards: LS secy general

India has a unique opportunity to demonstrate how technology can reinforce democratic ideals, Lok Sabha Secretary General Utpal Kumar Singh said here on Sunday, making a strong pitch for the adoption of artificial intelligence (AI) in the functioning of legislative bodies. Addressing the 61st Conference of Secretaries of Legislative Bodies, Singh said ethical concerns about AI, such as algorithm bias, misinformation and privacy risks, demand robust safeguards. He stressed the need to ensure that AI systems are accurate, context-aware and inclusive. "We must ensure that AI adoption prioritises transparency, fairness and public engagement while fostering a culture of innovation and collaboration," the Lok Sabha secretary general said. He said the role of AI in enhancing efficiency, transparency and inclusivity in governance cannot be overstated and made a strong pitch for leveraging it to strengthen democratic institutions. Singh said India's Digital Personal Data Protection Act and

Indian tech sector saw deals worth $635 mn in Sep quarter: Grant Thorton

Indian Tech sector witnessed deals worth USD 635 million in July-September period of 2024, registering a 31 per cent increase in value year-on-year, a recent report has revealed. Consultancy firm Grant Thorton Bharat's Q3 Dealtracker report for the tech sector said the quarter witnessed the highest deal volumes since Q2 2023 but the lowest for the year 2024, reflecting more strategic investments rather than large-scale acquisitions. Grant Thornton Bharat Partner Raja Lahiri said the recent interest rate cut by the US Fed, coupled with India's post-election stability, has infused new momentum into the deal landscape, with notable value and volume growth. "With the elections behind in India, we saw an increase in deal activity both in terms of volume and value compared to the previous quarter. "Q3 2024 witnessed 79 deals valued at USD 635 million, representing a 5 per cent increase in volumes and a 31 per cent increase in values," he said. Out of the total deals, 12 were valued at a

BSE TECk index: Rs 1 lakh investment soars 356% in 7 years to Rs 3.56 lakh

The BSE TECk index, tracking technology stocks, has delivered strong returns in 2023 and 2024, outperforming major benchmarks like the Nifty 50 and Nifty 500.

Indian deeptech startups count surges in 2023, funding drops 77%: Nasscom

India saw a significant surge in deeptech startups in 2023 with 480 new ventures emerging, making it the third largest pool globally, a report said. However, the report by technology industry body nasscom and global consulting firm Zinnov highlighted the worrying trend of a funding winter, posing a major challenge for these startups. 'India's DeepTech Dawn: Forging Ahead' report also said funding for scaling, talent attraction and retention, and global expansion are the top 3 challenges faced by startups in deeptech innovation. "India currently has 3600+ deeptech startups, out of which 480 were established in 2023 itself, nearly 2X more than the number of deeptech startups established in 2022," the report said. But India's deeptech promise is stunted by a funding gap. "Compared to startups across some other leading deeptech ecosystems, Indian deeptech startups receive a fraction of the median investment at every stage. This lack of funding restricts the ability of some promising .

Vaishnaw takes charge of IT Ministry, wants India to be tech leader

Focus will be on semiconductors, telecommunications, and manufacturing, he says

India's proposed EU-like antitrust law to pose new challenge for tech firms

Apple, Google, Meta, Amazon would come under the purview of the Indian law, which has yet to be approved by parliament

TikTok to start labelling AI-generated content as tech becomes universal

TikTok will begin labelling content created using artificial intelligence when it's been uploaded from outside its own platform in an attempt to combat misinformation. AI enables incredible creative opportunities, but can confuse or mislead viewers if they don't know content was AI-generated, the company said in a prepared statement Thursday. Labelling helps make that context clearwhich is why we label AIGC made with TikTok AI effects, and have required creators to label realistic AIGC for over a year. TikTok's shift in policy is part of an broader attempt in the technology industry to provide more safeguards for AI usage. In February Meta announced that it was working with industry partners on technical standards that will make it easier to identify images and eventually video and audio generated by artificial intelligence tools. Users on Facebook and Instagram users would see labels on AI-generated images. Google said last year that AI labels are coming to YouTube and its other

FDI easing in space sector to lure foreign players, boost high-tech jobs

The government's decision to ease foreign direct investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The provisions were notified last month. Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development. "For the private sector, it opens doors to new business opportunities, it presents an opportunity to leverage private investments to enhance space capabilities, access to cutting-edge technologies to accelerate and develop next-gen space products, and collaboration with global players," Ananthasayanam said. For t

Global future won't be driven by big tech but by India's DPI: Amitabh Kant

India's G-20 sherpa Amitabh Kant on Thursday said the global future will not be driven by big technology firms but by the digital public infrastructure platforms developed locally. Speaking at the 'We Made in India' event here, Kant said India will transfer its digital public infrastructure (DPI) to the rest of the world, and already there are many examples of countries warming up to the same. The DPI consists of the digital identity through Aadhaar, real time payment through the UPI platform and other services like account aggregator, and was showcased to the world during India's presidency of G-20 last year. Kant said during the G-20, the world accepted the definition and framework of the DPI, given the strides that India has made through its strategies. "During G-20, the world accepted the definition of digital public infra, the world accepted the framework of DPI and to our belief, the future will not be driven by big tech, it will be driven by DPI," he said. It can be noted t

Heat maps, virtual assistants: Malls ramp up AI use to track business

Technology helps them in knowing footfall and where visitors are flocking to

HSBC unveils its largest branch in India, bets big on growing customer base

HSBC India on Wednesday announced opening of its largest branch in the country in a bid to tap growing affluent customers. Located in Whitefield, Bengaluru, the branch is spread across 8,300 square feet, HSBC India said in a statement. This marks a significant milestone as HSBC India continues to solidify its strong presence as the leading international bank in the country, it said. Bengaluru South, which now has easier connectivity to Whitefield, has a per capita income of USD 11,305 (Rs 9,36,983), one of the highest in the country and over four times that of India's per capita income of USD 2,610 (Rs 2,16,316), it said. The new branch in the heart of technology hub will cater to the financial needs of the growing tech community, offering them an extensive international network, breadth of products, bespoke wealth solutions, specialized relationship managers, and global private banking expertise. "Entrepreneurialism and innovation are fuelling wealth creation and at HSBC India, w

DST mulls over positioning India as global S&T leader for Viksit Bharat

Secretary DST suggested organising brainstorming sessions to further dwell on such plans and prepare a work programme on some key areas, the statement added

DTDC Express looks to invest Rs 100 cr in infra, tech development in FY24

DTDC Express looks to invest at least Rs 100 crore in infrastructure and technology development, among others, this fiscal amid a brighter business outlook, the company's chairman and managing director Subhasish Chakraborty has said. He said the company is also expecting 30 per cent growth in total shipments handling this festive season (October-November) as compared to September. The integrated express logistics operator, which has a presence in both domestic and international markets, offers a range of services including premium express, express parcel, e-commerce b2c as well as warehousing business. "Our investment is happening on infrastructure, technology (upgrade) development as well as building technology team. And this investment, possibly, will not be less than Rs 100 crore this year," Chakraborty told PTI in an interaction. The logistics sector is growing very strongly and is seeing much better and higher growth than the domestic economy, he said. "I am quite sure that w

CREDAI to help over 13,000 builders in adoption of proptech solutions

Realtors' apex body CREDAI will help over 13,000 builder members in adoption of technology solutions in real estate projects, enabling them to reduce construction time and improve quality of products. At its 21st NATCON realty conference in Sharm El Sheikh in Egypt, CREDAI announced a slew of initiatives to expedite adoption of digitisation and Artificial Intelligence (AI) among developers, especially from tier-II and III cities. It aims for full adoption of AI and modern construction methodologies in the realty sector by 2033. "Indian real estate is at the cusp of a technological revolution -- and CREDAI intends on leading this charge. We want to create impact at both macro and micro levels," CREDAI President Boman Irani said. "From integrating AI and modern technologies in construction, to financially backing and supporting start-ups... CREDAI will build a real estate industry for the future," Irani said. CREDAI's few state chapters will hold educational workshops to impart ...

Uncertain economy, rapid tech change bring mega-deals under fire

Recently, TCS saw its mega deal with Transamerica come to an end

Grandma plays PubG, what's your game? Profile of gamer is rapidly changing

Women, including senior citizens, are participating in the massive spurt in online gaming in the country

Realme set to empower next-gen tech savy users with launch of narzo N55

This latest addition aims to provide a reliable and innovative experience to the youth of today, who refuse to be defined by others and have unique interests, passions, and aspirations

Govt catching up, plans to develop infra to assess new-tech vehicles

Latest technology vehicles refers to test vehicles that feature internet-enabled technologies

iMessage can now be used for Windows Insiders through Phone Link app

iMessage makes it easier for people to communicate across platforms and bridges the gap between Windows and iPhone users

5G to digital rupee, India made great strides in digital domain in 2022

2022 has seen India make great strides in the digital domain