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Fear of AI taking over jobs is overblown, says former CEA KV Subramanian

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

KV Subramanian, CNBC-TV18’s Budget Editor this year, addressed AI concerns in an exclusive interview. He downplayed job loss fears, citing historical patterns and recent research.

In an exclusive interview with CNBC-TV18 Managing Director Shereen Bhan, KV Subramanian, former Chief Economic Adviser and board member for India at the International Monetary Fund as well as CNBC-TV18’s Budget Editor this year, shared his insights on the advent of artificial intelligence.

Earlier in the day, CEA Anantha Nageswaran had said AI poses profound and troubling questions, particularly in the context of how technology might erode the advantage of cost competitiveness enjoyed by countries exporting digital services.

The conversation began with a reference to the CEA’s remarks, which highlighted the risks for growth in services, trade, and employment.

Subramanian acknowledged the significance of the issue and drew upon recent research conducted by scholars like Daron Acemoglu and David Autor at MIT. He stated, “If we look at some of the latest research — for instance, Daron Acemoglu, and David Autor at MIT have been doing work in this area. And what they opine is that the assessment of the impact of AI and automation on employment, in general, is either one of fear or excessive pessimism or of complacency.”

Also read: Improved tax collections, a foundation to growth, says economic review

Subramanian emphasised that historical patterns of technological advancements have seen a recurrent cycle of fear and adaptation. Drawing parallels with past innovations like the introduction of automobiles and ATMs, he highlighted that job markets have always transformed, with certain roles evolving or becoming obsolete.

“If you look at the overall picture, what they say is that the total impact in terms of job loss per se will be anywhere between 8 and 10%, not more than that,” Subramanian said, downplaying the more alarming predictions. He noted that while job roles may change, the overall impact on employment might not be as severe as some fear-mongering suggests.

Subramanian concluded, “Automation is something that has been happening over the last two-and-a-half centuries, and whenever this happens, there is this fear-mongering of it destabilising society. But I think history proves that we need not be as scared, because commentators will say, ‘Oh, this time is going to be different because it is artificial intelligence.’ The important thing to remember is that there’ll be some impact, but the impact will not be as large as some of the fear-mongering seems to suggest.”

Also read: What is the ‘The Indian Economy: A Review’ presented by the government all about?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Coforge plans to make 40% of its incremental investments in artificial intelligence in FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Coforge does not expect the tough demand situation to change significantly in the upcoming quarters of FY25. CEO Sudhir Singh said the growth of the industry in FY25 will broadly be in line with FY24 numbers.

As India’s IT services space looks to gradually place bigger bets on artificial intelligence, Noida-based IT solutions provider Coforge is looking to make 40% of its incremental investments in artificial intelligence in the 2024-25 fiscal.

“We’ve been investing now for almost three years in the AI space and almost for three quarters now specifically in Gen AI. We launched our own proprietary AI platform, Gen AI-based platform Quasar,” Sudhir Singh, CEO and ED, Coforge told CNBC-TV18 on January 23.

Coforge CEO said, AI is very strongly influencing the company’s ability to reimagine delivering its existing services, whether it is next-gen application development and maintenance services (ADM), product engineering, or business process solutions (BPS) services.

He, however, does not expect the tough demand situation to change significantly in the upcoming quarters of FY25. According to Singh, the growth of the industry in FY25 will broadly be in line with FY24 numbers.

“At this stage, there’s no reason to believe looking at the enterprise budgets and how they’ve already been closed, for demand to be reversing or seeing a material uptick anytime soon. We will offer guidance at the end of the next quarter,” he said.

The IT solutions company expects to see an uptick in earnings before interest, taxes, depreciation, and amortization (EBITDA) margin in the next financial year. “Our belief is next year’s EBITDA should see a positive uptick compared to FY24. Finance costs are likely to ebb away as the quarter progresses,” he added.

His remarks came after the firm posted a 4.3% year-on-year rise in consolidated net profit for the December quarter at ₹238 crore. The revenue of the company in the third quarter of FY24 was up 13% at ₹2,323.3 crore. The EBITDA margin came in at 17.3%, posting a significant 201 basis points improvement quarter-on-quarter.

Coforge shares were trading half a percent lower at ₹6,248 on BSE at 1:15 pm.

Watch the accompanying for the full interview  

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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WEF 2024: Gita Gopinath says AI could impact 30% of jobs in India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Davos 2024 | Gita Gopinath, IMF Deputy Managing Director, discusses AI’s global impact on the sidelines of the WEF summit. A study reveals 40% of jobs worldwide are vulnerable to AI, with nuances affecting wealth distribution and policy priorities.

In an exclusive interview with CNBC-TV18 Managing Editor Shereen Bhan at the World Economic Forum summit in Davos, Switzerland, Gita Gopinath, the first Deputy Managing Director of the International Monetary Fund (IMF), delved into the transformative impact of artificial intelligence (AI) on the global economy.

The conversation opened with the pervasive discussions surrounding AI and its potential to revolutionise jobs and disrupt various sectors. When asked about her perspective on what AI could mean for the global economy, Gopinath shared insights from a comprehensive study conducted by the IMF.

Gopinath highlighted the multifaceted concerns associated with AI, ranging from misinformation to its impact on labour markets. The study revealed a significant finding — an estimated 40% of jobs globally are susceptible to the influence of AI. However, this percentage varies across countries, with the United States facing a higher risk at 60%, and India experiencing a comparatively lower risk at 30%, primarily due to a significant workforce engaged in the agricultural sector, less affected by AI.

“If you look at India, that number is 30%, because you have a large share of workers that are in the agricultural sector, which is not affected by AI, especially not Generative AI,” Gopinath said.

The discussion then delved into the nuanced understanding of how AI could both complement and substitute jobs within the 60% at risk in the United States. Gopinath emphasised the need to distinguish between those who benefit from AI, becoming more productive and those who might face job displacement. This nuanced analysis pointed to the potential for growing inequality, particularly in terms of wealth distribution, a concern flagged in the IMF’s recent research.

“Now, then there is a question of the US and of the 60% — what fraction gets benefits from the AI, becomes more productive because they have AI, versus how many of them are going to get substituted out — lose a job. So we’re talking about very large fractions of the population who are at risk of least if not losing their job, then in a sense being devalued a bit by the presence of AI,” she added.

Addressing the challenges faced by policymakers, Gopinath stressed that understanding the transformative nature of AI and formulating effective policies are imperative. She noted that policymakers, particularly within the G7, have identified AI as a top priority for the year, recognizing the need to grapple with its implications over the next several years.

Also read: Davos 2024 | ‘Chip War’ author says the world sees India as an attractive alternative to China

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Davos 2024 | ‘Chip War’ author says the world sees India as an attractive alternative to China

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Davos 2024 | In an exclusive interaction with CNBC-TV18, Chris Miller, ‘Chip War’ author, discusses India’s semiconductor rise at Davos. He emphasises AI’s impact, India’s challenge in global semiconductor investments, and potential supply chain shifts amid China-Taiwan tensions.

Chris Miller, author of Chip War: The Fight for the World’s Most Critical Technology, shared insights with CNBC-TV18 Managing Editor Shereen Bhan on the sidelines of the World Economic Forum (WEF) summit in Davos, shedding light on India’s burgeoning role in the semiconductor manufacturing space and the global quest for alternatives amidst China’s dominance.

Addressing the significance of the inflection point in AI applications, Miller noted, “CEOs at Davos foresee an immediate impact on financial results this year, implementing AI tools to cut costs across industries.”

The discussion pivoted to India’s semiconductor strategy, with Miller acknowledging the excitement and focus on the chip industry. He emphasised the challenge of finding the right industry segment to ensure profitability, given the global surge in semiconductor investments.

Highlighting concerns about sustainability and profitability, Miller expressed worries about the massive subsidies by China, surpassing the rest of the world combined. He cautioned against directly competing with China and stressed the need for a targeted and differentiated strategy.

For context, China boasted chip subsidies worth at least $150 billion in 2022. Last September, China’s Ministry of Finance further upgraded the country’s tax credit for investments in semiconductor R&D by 20%.

Regarding India’s chip design capabilities, Miller recognised the wealth of talent in India but urged a shift towards building Indian brands that design chips for global markets, moving beyond working for foreign firms.

On the link between design and manufacturing, Miller emphasised a segmented strategy based on market focus, aligning design, manufacturing, assembly, and packaging. He praised India’s growth in every part of the semiconductor ecosystem, making alignment more feasible.

“I think you’ve got to line up the design, the manufacturing, but also the assembly and packaging, which is also a place where India is investing in. Foreign companies are looking at India as an attractive location. The good news is that every part of the ecosystem in India is growing. And so that’s going to be easier than in the past to line up these different parts of ecosystems,” Miller said.

Addressing geopolitical tensions, particularly around Taiwan, Miller observed a shift in supply chain structures. He identified India as a major beneficiary of the trend, citing Apple’s decision to shift a massive chunk of its iPhone assembly to India due to concerns over China-Taiwan tensions. “…that’s precisely because Apple is worried about China-Taiwan tensions and they’re far from alone — the entire electronics industry is moving right now, not completely, but there’s more bifurcation between a China-focused sphere and the rest-of-the-world sphere and India is going to be a real beneficiary of that trend,” he said.

Discussing global supply chain movements, Miller pointed to Southeast Asia as a significant focus for assembly, packaging, and semiconductor design. He also highlighted the competition from advanced economies such as Europe and Japan.

Looking ahead to 2024, Miller anticipated increasing specialisation of semiconductors around AI applications.

“I think the key trends are first the increasing specialisation of semiconductors around AI applications — we’ve seen last year the extraordinary growth of NVIDIA, which sells GPUs that are used to train AI systems. But I think that’s just the first of what’s going to be a series of innovations that are designed to make AI more power-efficient and more cost-effective in different use cases,” Miller added.

He emphasised the critical risk of supply chain resilience, cautioning against underestimating disruptions driven by tensions in China and Taiwan.

“We’ve seen supply chains shift slowly over the past couple of years, but they’re just so complex. There’s so much investment involved, that it’s going to be a long-running trend. And I think the major risk is that we’ve underestimated the risk around China and Taiwan and we get disruptions driven by that,” he added.

Also read | WEF 2024: Indian states ready to harness world’s faith in our overall macro stability, says NK Singh

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Artificial intelligence will affect almost 40% of jobs, IMF says

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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AI’s income inequality effect will largely depend on how much the technology complements high earners. More productivity from high-income workers and companies would boost capital returns, widening the wealth gap, IMF Managing Director Kristalina Georgieva said.

Artificial intelligence will affect almost 40% of global jobs, with advanced economies facing greater exposure than emerging markets and low-income countries, according to an International Monetary Fund analysis.

“In most scenarios, AI will likely worsen overall inequality, a troubling trend that policymakers must proactively address to prevent the technology from further stoking social tensions,” IMF Managing Director Kristalina Georgieva said in a blog post on the study.

AI’s income inequality effect will largely depend on how much the technology complements high earners. More productivity from high-income workers and companies would boost capital returns, widening the wealth gap, Georgieva said. Countries should provide “comprehensive social safety nets” and retraining programs for vulnerable workers, she said.

While there’s potential for AI to fully replace some jobs, the more likely scenario is that it’ll complement human work, according to the analysis. Advanced economies may have about 60% of jobs affected, more than emerging and low-income countries.

Georgieva’s take on artificial intelligence coincides with the meeting of global business and political leaders at the World Economic Forum in Davos, Switzerland, where AI is a topic of discussion.

Also Read | CES 2024: This is not the year of the AI gadget

Companies have been throwing cash at the emerging technology, sometimes sparking concern among employees about the future of their roles. One example is Buzzfeed Inc., which announced plans to use AI to help with content creation and closed its core news department, laying off more than 100 staffers.

The European Union reached a tentative deal in December on legislation setting out safeguards on AI, while the US is still weighing its federal regulatory stance.

Also Read: World Economic Forum’s Healthcare Head calls for trillion-dollar investment in climate funding

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Pulitzer-winning authors join OpenAI, Microsoft copyright lawsuit

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The writers, including Pulitzer Prize winners Taylor Branch, Stacy Schiff and Kai Bird – who co-wrote the J. Robert Oppenheimer biography “American Prometheus” that was adapted into the hit film “Oppenheimer” this year – told the court on Tuesday that the companies infringed their copyrights by using their work to train OpenAI’s GPT large language models.

A group of 11 nonfiction authors have joined a lawsuit in Manhattan federal court that accuses OpenAI and Microsoft of misusing books the authors have written to train the models behind OpenAI’s popular chatbot ChatGPT and other artificial-intelligence based software.

The writers, including Pulitzer Prize winners Taylor Branch, Stacy Schiff and Kai Bird – who co-wrote the J. Robert Oppenheimer biography “American Prometheus” that was adapted into the hit film “Oppenheimer” this year – told the court on Tuesday that the companies infringed their copyrights by using their work to train OpenAI’s GPT large language models.

Representatives for OpenAI and Microsoft did not immediately respond to requests for comment on Wednesday.

“The defendants are raking in billions from their unauthorized use of nonfiction books, and the authors of these books deserve fair compensation and treatment for it,” the writers’ attorney Rohit Nath said on Wednesday.

Writer and Hollywood Reporter editor Julian Sancton first filed the proposed class-action lawsuit last month. The case is one of several that have been brought by groups of copyright owners including authors John Grisham, George R.R. Martin and Jonathan Franzen against OpenAI and other tech companies over the alleged misuse of their work in AI training.

The companies have denied the allegations.

Sancton’s was the first author lawsuit against OpenAI to also name Microsoft as a defendant. The tech giant has invested billions of dollars in the artificial intelligence startup and integrated OpenAI’s systems into its products.

The amended complaint filed on Monday said that OpenAI “scraped” the authors’ works along with reams of other copyrighted material from the internet without permission to teach its GPT models how to respond to human text prompts.

The lawsuit also said that Microsoft has been “deeply involved” in training and developing the models and is also liable for copyright infringement.

The authors asked the court for an unspecified amount of monetary damages and an order for the companies to stop infringing their copyrights.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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AI can create more jobs than it potentially eliminates, says Tech Mahindra’s CP Gurnani

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

“New jobs will also get created. The market will expand,” he said, joining the likes of Infosys co-founder NR Narayana Murthy, who has said that coders losing jobs to Gen AI tools such as ChatGPT will “never happen.”

Generative AI technology can create more jobs than it is expected to eliminate, Tech Mahindra’s outgoing CEO said, even as its ability to wreck the job market has been discussed widely on social media sites.

“The use cases of Generative AI are still being defined, which means that it has the potential to create more job opportunities in the future. Undoubtedly, the possibilities are just opening, and there is more to come,” CP Gurnani told Reuters in an interview.

AI technologies such as OpenAI’s ChatGPT and Google’s Bard have taken the world by storm in the past year with their uncannily human-like responses and the ability to write everything from novels and poems to complex computer code.

Also Read: Not just ChatGPT and Bard, Union minister Rajeev Chandrasekhar is also on the dark internet

While some top industry executives have discussed the potential loss of around a third of jobs due to the impact of the technology, Gurnani, one of the longest-serving CEOs in the $245-billion Indian information technology sector, insisted that skilled people will not be replaced. He is set to retire on Dec. 19.

“New jobs will also get created. The market will expand,” he said, joining the likes of Infosys co-founder NR Narayana Murthy, who has said that coders losing jobs to Gen AI tools such as ChatGPT will “never happen.”

Estimates on job losses due to generative AI vary. Recent research from the European Central Bank and the International Labour Organization said there hasn’t been significant job loss due to Gen AI-enabled automation so far.

Gurnani also urged young engineers to adapt to the changing world and invest more time in independently learning new skills.

“Infosys or Tech Mahindra setting up learning campuses, those days are over,” said Gurnani.

Also Read: Global AI Conclave | Chip Wars author Chris Miller lauds India’s deep talent pool in chip design

Infosys has one of the world’s largest corporate training centres in Mysuru, a city in the southern Indian state of Karnataka.

For Indian IT companies, this could signify a fundamental shift in their operational model. Traditionally, companies hired graduates from campuses and provided training before deploying them on projects.

In October, Infosys revealed plans to abstain from near-term campus recruitments, while cross-town rival Wipro indicated it would engage in campus hiring only after “onboarding” the candidates to whom it had made offers.

Also Read: Global AI Conclave | ‘If anything keeps me awake at night…it’s the challenge on talent,’ Rajeev Chandrasekhar

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Global AI Conclave | Google exec says user interaction with Search has changed

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

CNBC-TV18-Moneycontrol Global AI Conclave: Google’s VP of Search, Pandu Nayak, discusses Generative AI’s impact on internet interaction. Nayak said Google’s mission to organise information for the world remains unchanged, and highlighted technological evolution and ongoing experiments for enhanced user experience.

Google’s Vice President of Search, Pandu Nayak, on Saturday, December 16, said users behaviour has changed how they interact with the internet, particularly when searching online — through text, voice and image.

Speaking at the CNBC-TV18-Moneycontrol Global AI Conclave in Bengaluru, Nayak, who has spent fine-tuning search technology at Google for the past 19 years, said the tech giant’s mission always has been — and continues to be — to organise the world’s information. “That mission has remained unchanged through these years. So we’re still very motivated to do exactly that,” Nayak said.

Highlighting technological shifts, Nayak discussed the progression from early information retrieval to the Knowledge Graph and the adoption of deep learning. He added, “Today we have the technology of Generative AI, so the technology has dramatically changed.”

Regarding changing user behaviours, Nayak said, “Voice Search is a crucial thing that has helped the evolution of search,” and discussed the impact of Google Lens and the growing importance of user-generated content.

Also read: Global AI Conclave | Infosys infosec chief explains how AI will boost cybersecurity

Addressing the future of search, Nayak mentioned ongoing experiments, stating, “We’ll continue experimenting with the latest and greatest technology to do the best for our users.”

On Generative AI and recent advancements, he shared, “Gemini is not only super capable in all sorts of language understanding and code-generation but it was designed to be multimodal from the start.”

Responding to concerns about deepfakes, Nayak discussed Google’s approach, saying, “We want to help people understand the content that they encounter online by adding information about images they encounter online in the metadata.”

Highlighting India’s unique challenges, Nayak touched on language diversity, stating, “We’ve been trying to improve the search experience for our Hindi users and our local language users.”

Concluding on the future of AI, Nayak expressed hope, saying, “My fondest hope for AI is that we…fade into the background. And it comes out as these compelling experiences…we completely take for granted.” He envisions AI contributing to seamless, natural experiences integrated into daily life.

Also read: Explained | Multimodal AI vs generative AI — key differences

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

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Global AI Conclave | Infosys infosec chief explains how AI will boost cybersecurity

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Infosys CISO Kavitha Kadambi shared insights on AI and cybersecurity at the CNBC-TV18-Moneycontrol Global AI Conclave. She highlighted AI’s transformative impact, enhancing threat hunting, risk categorisation, and skill empowerment.

Kavitha Kadambi, Chief Information Security Officer at Infosys, shared key insights on the intersection of Artificial Intelligence (AI) and cybersecurity at the CNBC-TV18-Moneycontrol Global AI Conclave in Bengaluru.

Kadambi discussed the profound changes AI has brought to cybersecurity over the years. “AI has changed how we operate at scale and speed,” she stated. The advent of AI has transformed cybersecurity into both a protective tool and a potential weapon, making cyber threats more accessible to individuals with limited skills.

Addressing the evolving threat landscape, Kadambi highlighted AI’s role in revolutionising threat hunting. “Threat hunting is vastly different with the advent of AI,” she remarked. The integration of AI not only enhances detection capabilities but also empowers cybersecurity analysts through skill enhancement.

In emphasising the broader implications of AI in cybersecurity, Kadambi explained how risk categorisation has evolved. “You will be able to go ahead and categorise risk, define them much sharper,” she said, stressing the proactive approach enabled by AI.

Discussing the need to secure AI itself, Kadambi stressed the importance of talent, training, and skilling. “If we bring in the aspects of talent, the aspects of training, also using AI, we will be able to go ahead and leverage cybersecurity to its fullest,” she said.

Kadambi also spoke about Infosys’ Topaz, an AI solution aiming to assist organisations in harnessing AI for various purposes. “Topaz gives us those capabilities to be able to go ahead and take and use for training and skilling purposes,” she explained.

Kadambi expressed confidence in AI’s potential to revolutionise cybersecurity, provided that organisations remain vigilant and responsible.

Also read: Global AI Conclave | Empowering graduates crucial to startup success, says Ashok Jhunjhunwala

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Global AI Conclave | Karnataka’s IT minister says Bengaluru will be AI capital of the world

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

CNBC-TV18-Moneycontrol Global AI Conclave: Priyank Kharge, Karnataka’s IT and Biotech Minister, outlined Bengaluru’s transformation, emphasising innovation, skill development, and strategic initiatives in the AI sector.

Priyank Kharge, Karnataka’s Minister for Information Technology and Biotechnology, addressed the CNBC-TV18-Moneycontrol Global AI Conclave in Bengaluru on Saturday, December 16, shedding light on Bengaluru’s evolution as a global innovation hub and the state’s strategic initiatives in the AI sector. He said Bengaluru can become the world’s artificial intelligence (AI) capital.

Kharge shared insights into Bengaluru’s journey, stating, “From a call centre of the world, we’ve moved to R&D, and now we’ve positioned ourselves as the most disruptive city in the global innovation index. Currently eighth, our aim is the fifth slot.”

Highlighting the state’s startup prowess, Kharge revealed impressive figures, noting, “India hosts $384 billion worth of unicorns, with $186 billion from Bengaluru alone. Bengaluru leads in aerospace and defence, biotech, and manufacturing innovation.”

Addressing the importance of skills development, Kharge stated, “Our focus on AI adaptability in skilling is the highest globally. We understand that the foundation for innovation lies in skills. Our Skill Advisory Council collaborates with industry to meet sector-specific requirements.”

Kharge outlined three pivotal initiatives: “Firstly, we’re establishing centres of excellence across sectors. Whether it’s health sciences or wireless technologies, startups can experiment and incubate. Secondly, a disruptive Public Procurement Policy aims to be the first customer for startups. Finally, our Global Innovation Alliance connects startups with 33 countries for networking, market access, and funding.”

Priyank Kharge’s insights showcased Bengaluru’s aspirations and initiatives in the global AI landscape, emphasizing the state’s commitment to innovation, skill development, and strategic partnerships.

Also read: Global AI Conclave | AI is the greatest invention of our time, but needs a global framework: Rajeev Chandrasekhar

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?