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HCL, WEF's UpLink opens applications for Zero Water Waste Challenge

Indian firm HCL and UpLink, the open innovation platform of the World Economic Forum, have invited applications for the Zero Water Waste Challenge, which is part of the Aquapreneur Innovation Initiative. The challenge calls for innovative water usage approaches to improve freshwater conservation from supply to demand, moving towards zero water waste, according to a release. This is the second of five challenges from HCL and UpLink's Aquapreneur Innovation Initiative. The initiative aims to create innovation ecosystem for the global freshwater sector. The deadline to apply is October 2, 2023. Under this initiative, HCL committed USD 15 million until 2027 to support the water-focused entrepreneurs. Roshni Nadar Malhotra, Chairperson of HCLTech said that as climate change continues to intensify and fresh-water resources become scarcer, corporates have a unique opportunity to make a substantial difference. "At HCL, we are committed to help resolve this global crisis. In partnership w

Macroeconomic, geopolitical conditions pose risks to organisations: Survey

With the world facing growing economic instability and political tensions, volatility in geoeconomic and geopolitical relations between major economies is likely to result in global upheavals over the next six months, a new survey showed on Thursday. According to the survey of the World Economic Forum's Chief Risks Officers community, more than 85 per cent of CROs expect some level of continued volatility and economic and financial conditions within and across major economies. Armed conflicts and regulatory changes are also cited as potential threats to organisations, while over 75 per cent of CROs believe the use of AI technologies poses reputational risks to their organisations. The community comprises 40 risk professionals from a wide range of multinational companies, covering technology, financial services, healthcare, professional services and industrial manufacturing. Respondents to the survey identified macroeconomic indicators, pricing and supply disruptions of key raw ...

Agri sector can scale new highs with AI, other emerging technologies: WEF

The agriculture sector in India can be transformed by promoting the use of artificial intelligence (AI) and other emerging technologies, according to a new World Economic Forum report. Releasing the phase-1 report of the 'Saagu Baagu' ('agriculture advancement' in the Telugu language) being implemented by the Telangana government in collaboration with it, the WEF said its AI for Agriculture Innovation (AI4AI) initiative has helped more than 7,000 chilli farmers get access to agritech services in the first phase. These agritech services include AI-based advisories, soil testing, produce quality testing and e-commerce -- all in the project's pilot phase. The state government plans to scale existing and additional agritech services in phase II (from 2023 onwards) to 20,000 chilli and ground nut farmers in three districts. The digital public infrastructure will also be introduced in phase II, while in phase III (by 2025), the target is to reach 1,00,000 farmers in the state. The projec

Green road freight cluster to help reduce gas emissions in India: WEF

The World Economic Forum on Wednesday announced the launch of India's first zero-emission road freight cluster initiative which will reduce the country's greenhouse gas emissions. The announcement was made during a side event hosted by NITI Ayog at the backdrop of ongoing G20 Energy Transitions Working Group meeting in Panaji. Jasmeet Khurana, Lead, Moving Emerging Markets, World Economic Forum told PTI in Panaji that Adani Ports and SEZ, Apollo Tyres Ltd, TCI Group (Transport Corporation of India Limited) and UltraTech Cement are the partners that will anchor this cluster development through their own early actions. He said that the World Economic Forum and partners have committed to deploying 550 electric trucks on the west coast of Gujarat and Maharashtra within the next 18-24 months. Khurana said that this initiative is under the e-FAST centre of NITI Aayog and is supported by the Ministry of Ports, Shipping and Waterways as the cluster aligns with its 'Harit Sagar' Green Port

India ranked 67th globally on Energy Transition Index, Sweden on top: WEF

The World Economic Forum on Wednesday ranked India at the 67th place globally on its Energy Transition Index and said it is the only major economy with energy transition momentum accelerating across all dimensions. Sweden topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top five on the list of 120 countries. Releasing the report published in collaboration with Accenture, the WEF said the global energy transition has plateaued amid the global energy crisis and geopolitical volatilities, but India is among the countries that have made significant improvements. "India is the only major economy with energy transition momentum accelerating across the Energy Transition Index's equitable, secure and sustainable dimensions," the WEF said. "For example, despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively ...

Four Indian firms make into WEF's 100 most promising tech startups list

The World Economic Forum (WEF) on Wednesday named four Indian entities, including Giftolexia Solutions and Xacmaz Technology, in its annual list of 100 most promising technology pioneers, comprising companies making progress in sustainability, advanced manufacturing and inclusive healthcare. The other two Indian entities on the list are evolutionQ, which offers quantum-safe cybersecurity products to help clients in deploying and managing quantum technologies across their networks, and Next Big Innovation Labs -- which is developing customisable 3D bioprinter to bridge the gap between organ demand and availability via 3D bioengineered organs. Giftolexia Solutions is developing a deep technology-enabled screening tool to identify the risk of dyslexia in schoolchildren by analysing gaze patterns. Xacmaz Technology is developing a platform that converts satellite data into climate intelligence for climate risk, ESG (environmental, social and governance) investing and carbon markets. Th

131 years to close gap as Gender equality is stalling, says WEF report

The report states that India has ranked 127 out of 146 countries in terms of gender parity. Statistically, the country has improved by 1.4% points and eight positions since last year

Can leverage learnings from India on crypto regulations: WEF research

From fragmented monitoring and enforcement to differing classifications of crypto assets, many barriers hinder global coordination on crypto-asset regulation efforts, a global study said on Monday while calling for leveraging learnings from India. The report published by the World Economic Forum (WEF) emphasised that while full global coordination for crypto regulation would be ideal, varying ecosystem maturity in different jurisdictions, evolving use cases, capacity of regulators and other factors make it difficult to achieve. As such, regulators and industry players should explore alternative regulatory pathways to collaborate and regulate the crypto-asset ecosystem through a principle-based, agile approach, taking into consideration the local context. In its section on recommendations, the report argued that the framework for crypto-asset regulations could leverage learnings from existing frameworks in financial services. In this context, it cited the inter-operable regulatory .

WEF prez pitches for win-win thinking amid increased polarisation globally

Calling for "win-win thinking" amid increased polarisation and fragmentation globally, World Economic Forum (WEF) President Borge Brende has said that hopefully, India's G20 Presidency will help get leaders to discuss collaborating on fighting climate change and rules around new technologies. WEF, headquartered in Geneva, is an international organisation for public-private cooperation and has collaborations with India. In an interview with PTI in the national capital, Brende sounded "cautiously optimistic" about finding and developing a floor when it comes to an agreement between the big countries and the world on traffic rules and collaboration. "We will have some derisking, friend shoring, and nearshoring not just in time but also when it comes to global value chains. I hope that 90 per cent of the trade we have today will also continue in the future," he said. India is holding the G20 Presidency this year and also at a time when geopolitical tensions, including the Russia-Ukrain

India witnessing snowball effect; set to see exponential growth: WEF prez

India is expected to clock the highest growth among the world's big economies this year and the country's economy is witnessing the "famous snowball effect" that will lead to more investments and more jobs, according to World Economic Forum (WEF) President Borge Brende. "There have been reforms that have led to less red tape, better climate for investments and also the digital revolution is really happening in India," Brende said and stressed that he is "very bullish and optimistic" about the country's growth trajectory but not so optimistic about global growth. India, which currently holds the G20 presidency, is one of the fastest growing key economies in the world and WEF has had close collaborations with the country for the past many years. "When the snowball starts to roll, it gets bigger and bigger, and that is what is happening with the Indian economy. "The growth will lead to more investments, more jobs... it will be an exponential growth in the coming years and you will see

Digital India's two realities: A yawning gap between tech use & tech skills

Lack of tech skills in Indian youth a worry as labour markets brace for a tech-driven churn

These jobs most likely to be lost and created because of AI: Report

Many clerical or secretarial roles are seen as likely to decline quickly because of AI, according to the WEF report

Telangana Industries Minister K T Rama Rao to attend WEF meet in China

Telangana IT and Industries Minister K T Rama Rao has received an invite to attend the World Economic Forum's 14th 'Annual Meeting of the New Champions' which will be held in China in June. The meeting would be held from June 27 to 29, 2023 in Tianjin, China, a release from Rama Rao's office said on Thursday. In the invitation, WEF President Borge Brende said driven by the Rao's vision, Telangana has become a beacon of innovation and a pioneer in embracing emerging technologies. "Telangana is leading India's start-up and innovation system through future-oriented policies and enablers such as the T-Hub. Participants will be keen to hear your insights on promoting growth in Telangana led by entrepreneurship, innovation and digital transformation," the invitation said. The meeting will see the participation of over 1,500 global leaders from business, government, civil society, international organizations and academia at a pivotal time for the global economic recovery. It will focus o

Global recovery shaky; India to benefit from supply chain changes: WEF

Economists worldwide are evenly divided on the prospects for the economy, with equal shares of 45 per cent finding a global recession this year likely or unlikely, but India figures among the economies most likely to benefit from supply-chain changes, a survey showed on Tuesday. In its latest Chief Economists Outlook, the World Economic Forum said economists expect both growth and inflation dynamics to vary widely across regions. On the economic policy front, 72 per cent predict proactive industrial policy to become an increasingly widespread phenomenon over the next three years. Although a majority do not see recent financial-sector disruption as a sign of systemic vulnerability, further bank failures and turbulence are considered likely this year. Showing divergent regional dynamics, the most buoyant activity is expected in Asia, with China's reopening expected to drive a significant rebound for the country and to bolster activity across the continent. More than 90 per cent of t

Tech, AI to drive demand for specialists, decline of clerical work: WEF

Over the next five years, nearly a quarter of all jobs will change as a result of AI, digitization and other economic developments like the green energy transition and supply chain re-shoring

Top headlines: Commercial LPG cylinder price cut, WEF on India's job market

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India to witness less job churn in the next five years: WEF report

Report says social jobs grew at a slower pace than non- social jobs in India

Diverse views on trade & investment at Davos

Beneath the high sounding words during the discussions, willingness to co-operate on trade and investment issues was missing

Can help Indian govt replicate digital public goods in other EMs: IBM CEO

"A company like ours can help the Indian government in replicating its digital public goods in other emerging economies"

Telangana secures Rs 21,000 cr worth of investments during WEF in Davos

Telangana has attracted investments worth Rs 21,000 cr across various sectors during the recently concluded annual World Economic Forum (WEF) meeting at Davos in Switzerland, an official release said