Generative AI Financial News

Google in India is rolling out its Search Generative Experience (SGE), which offers generative AI-powered responses to search-engine queries, for users to experiment with and share feedback under the company’s Search Labs programme. SGE is available in English and Hindi, and includes India-focused features such as language toggle, text-to-speech and voice input in a conversational mode. Puneesh Kumar, general manager — Google Search, India, said the feature will help users understand a topic faster, uncover new viewpoints and insights, and get things done more easily. «The Search Generative Experience is the first step we’re taking in this journey, and part of our vision to make Search radically more helpful,” he said. Google has also introduced features that are unique to SGE in India. A person can switch from an English result to Hindi by tapping the language toggle button, and also listen to the response with text-to-speech by selecting the ‘Listen’ button. Google is also looking to roll out a feature that will allow people to tap the microphone icon in conversational mode to ask follow-up questions instead of typing them. The company said it is bringing SGE as an experiment in Search Labs.

Nasdaq-listed Iris Energy has bought 248 state of the art Nvidia H100 GPUs for $10 million as it looks to explore opportunities in generative AI in addition to its core business focus on Bitcoin mining.

Vivek Kathpalia is MD and CEO – Singapore, Cyril Amarchand Mangaldas; and Shambhawi Mishra is principal associate designate at Cyril Amarchand Mangaldas.

generative technology and may consider raising funds early next year to support expansion plans. Ramineni, during his India visit spoke to PTI about the rapid growth in AI and startups in India and the Silicon Valley.

cybersecurity will be through generative AI, said Microsoft USA vice chairman Brad Smith during the B20 India Summit 2023 in New Delhi. Addressing cybersecurity attack concerns raised by generative AI, Smith said that there will be an increasing number of organisations and governments that will use the technology to develop cybersecurity threats. “The problem today is that we live in a world where the cloud services, all of the technology that we use, is susceptible to attacks from cyber criminals and nation states,” said Smith, adding that as the success rates of criminals are falling, the volume of cyber attacks is also rising.Also read | Regulatory blueprint is a must for AI adoption across public and private sector: Microsoft president Brad Smith He said that 80% of all successful ransomware attacks originate in an organisation through unmanaged devices or services. He added that cyber attacks by nation states have also increased with almost 40% of the attacks targeted towards critical infrastructure.

South Korean tech company Naver Corp has unveiled its answer to OpenAI’s ChatGPT — named CLOVA X — its newest generative AI chatbot which is aimed at Korean-language users. 

Rakuten, the Japanese technology conglomerate has been scaling up its presence in India with bets across fintech, content streaming, analytics, healthcare and telecom, CEO Sunil Gopinath says, in a freewheeling chat with ET’s Subhrojit Mallick.How has your business in India scaled up over time? We started off primarily building a technology business from here that will support or cater to Rakuten’s businesses globally. We started with 100 employees and have scaled to 2000 now. First, we started with 24/7 support, then we did ecommerce, then we did ID management, which is similar to Aadhaar.

Generative Artificial Intelligence is likely to be a tool for augmentation of roles rather than replacement of jobs, although the specific impact on the workforce will become clear overtime, Nasscom Senior Vice President and Chief Strategy Officer Sangeeta Gupta. Her observation comes in the backdrop of several roles in the tech and non-tech industry being impacted by automation, and an industry push for self-regulation and upskilling with companies like HCLTech and Wipro announcing plans to leverage knowledge automation. «How gen AI will impact jobs in India is still very unclear. Because implementation of Gen AI will happen… we believe it's more a tool for augmentation than replacement,» Gupta told PTI on the sidelines of the Nasscom Annual Technology Conference 2023. Speaking at the event, Accenture Managing Director Matt Carroll said AI can potentially replace the 40-hour work week, freeing up time for people to chase their interests. Nassom's Gupta said that the DPDP bill introduces a negative list of data which «works well with the industry» since countries where data interface is happening, will likely be in the positive list. «Given how fast technology is evolving, you cannot expect every use case to be built through this bill… continuous evolution of the rules will happen as new use cases and challenges come up,» she added. On Nasscom pushing startups listed outside India and servicing the domestic market, to come in India, she said a number of startups have located overseas because of investors' interests and concerns around ease of doing business in India. «I think you've seen a number of startups that have located overseas because of two reasons.

Deloitte on Tuesday said it has launched its global AI market incubator that will promote innovation in generative artificial intelligence (AI) and serve global and Indian enterprises. «The AI incubator will leverage the in-depth sector knowledge and AI/ML expertise of our professionals, including data scientists and engineers,» the company said in a statement These professionals work through a multi-disciplinary model built on design thinking to ensure speed, faster time to market and immediate value generation in critical projects, it added. Deloitte said it currently has active global engagements in the areas of drug discovery, customer experience, content generation and personal avatars, marking over 100 corporations in the past six months. “These engagements demonstrate the increasing relevance of generative AI.” The launch of the Global Generative AI Market Incubator by Deloitte also aligns with the government’s overall agenda of nurturing tech talent and AI-driven opportunities, the company said. «Through this initiative, we aim to resolve unique industry cases by providing the right strategy and drawing on the strengths of our collaboration with alliance partners,” Sathish Gopalaiah, president, consulting at Deloitte India, said. Deloitte launched its Generative AI practice in India in June to help enterprises with strategic innovations, talent development and a collaborative alliance ecosystem.

ILO) said, adding that the impact on employment would be more on high-income countries and among females. According to the ILO study, Generative AI and Jobs: A global analysis of potential effects on job quantity and quality, most jobs and industries are only partly exposed to automation and are more likely to be complemented rather than substituted by the latest wave of Generative AI, such as chatGPT. “Therefore, the greatest impact of this technology is likely to not be job destruction but rather the potential changes to the quality of jobs, notably work intensity and autonomy,” it said. As per the study, 5.5% of total employment in high-income countries is potentially exposed to the automating effects of the technology, whereas in low-income countries, the risk of automation concerns only some 0.4% of employment. The study further shows that the potential effects of Generative AI are likely to differ significantly for men and women with more than twice the share of female employment potentially affected by automation. “This is due to women’s over-representation in clerical work, especially in high and middle-income countries,” it said, adding that one result of Generative AI could be that certain clerical jobs may never emerge in lower-income countries. According to the study, clerical work has the greatest technological exposure with nearly a quarter of tasks considered highly exposed and more than half of tasks having medium-level exposure. On the other hand, the potential for augmentation is nearly equal across countries, suggesting that with the right policies in place, this new wave of technological transformation could offer important benefits for developing countries, the ILO said. According to the ILO, there

Nestle to consumer goods multinational Unilever, are experimenting with using generative AI software like ChatGPT and DALL-E to cut costs and increase productivity, executives say. But many companies remain wary of security and copyright risks as well as the dangers of unintended biases baked into the raw information feeding the software, meaning humans will remain part of the process for the foreseeable future.

Tata Consultancy Services, India’s largest IT services firm, said that the company is currently working on over 50 proof-of-concept (PoC) projects and “around 100 opportunities" in the field, during the company’s June quarter post-earnings press conference. Infosys, too, reported 80 active projects in generative AI, and 40,000 employees trained in the field in anticipation of deals going forward, said company chief Salil Parekh in its post-earnings press conference on 20 July.

Wipro on Wednesday said it has launched a centre of excellence on generative artificial intelligence in partnership with the Indian Institute of Technology, Delhi. Set up on the premises of the Yardi School of Artificial Intelligence at IIT Delhi, the Centre Of Excellence (CoE) will support applied research in generative AI, according to a statement.

Amazon is rolling out a generative AI feature that summarizes product reviews for customers

The United States Pentagon has launched a new task force to look into how generative artificial intelligence can be used for the nation’s defense.

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leadership in AI. Topaz is aimed at creating efficiencies across the enterprise by using smart tools, platforms, and autonomous software engineering for business agility.

DPDP) Bill has caused concern among experts who feel it will leave a lacunae in the privacy law. It will also lead to more confusion and ambiguity surrounding the ever-evolving technologies and how they are regulated, they added.

Meta, the parent company of Facebook and Instagram, launched a suite of generative AI models on Aug. 2, which it calls AudioCraft, for the purpose of music creation from various inputs, according to a blog post. 

reality headset - is yet to get into the hands of customers. Apple has seen its research and development spending go to $22.61 billion in the current fiscal year which is around $3.12 billion more than the last year combined.

(Reuters) — Dell Technologies (NYSE:DELL) on Monday launched new generative artificial intelligence (GenAI) solutions in collaboration with Nvidia (NASDAQ:NVDA) whose chips enable the technology behind OpenAI's ChatGPT.