Ola's AI venture runs into human (resources) glitch

Most of the exits took place between March and November 2024, some quitting within a year of joining the firm and a few leaving in a matter of months. ET reported last year that Ravi Jain, who was brought in from Ola Electric in May 2023 as business head, had left the firm. Jain's LinkedIn shows he quit in November.

from Tech-Economic Times
via IFTTT

Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

from Tech-Economic Times
via IFTTT

US court finds Byju Raveendran, Think & Learn, company directors guilty of fraud

According to the lenders' statement, the court confirmed that several fund transfers from Byju’s Alpha were fraudulent and constituted theft. It also ruled that Riju Ravindran breached his fiduciary duties as a director of Byju’s Alpha.

from Tech-Economic Times
via IFTTT

Bharat BillPay turns to education; From archives to AI

Happy Friday! Education sector has emerged as the next major opportunity for NPCI BharatBillPay. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times
via IFTTT

NPCI's Bharat BillPay spots a big opening in education fee payments

NPCI Bharat BillPay sees digitising education fee payments as a major opportunity, aiming to onboard schools and colleges onto its Bharat Connect platform. Government initiatives and fintech partnerships are driving adoption, promising efficiency and transparency in institutional payments.

from Tech-Economic Times
via IFTTT

EU's AI policy pivot due to overall sense of overregulation: Michael McNamara

The EU recently withdrew its AI Liability Directive, which was first proposed in 2022 and proposed to penalise offending organisations for causing harm through AI systems. The European Union's AI regulation came into effect in August 2024, with various provisions of the Act coming into effect through 2025 till 2027.

from Tech-Economic Times
via IFTTT

HD Hyundai Heavy Industries looks to build shipyard in India; scouting for locations and tie-ups

South Korea’s HD Hyundai Heavy Industries is exploring shipyard locations in India, visiting Tamil Nadu and negotiating with Andhra Pradesh and Maharashtra. The move aligns with India's shipbuilding expansion, aiming for global market growth and technology collaboration.

from Tech-Economic Times
via IFTTT

Uber’s private car ride-share service starts from Assam

The service will begin in Assam, with women and army veterans as drivers, serving as a case study for Uber to pitch it to other states. Globally, including the US, the UK and Australia, Uber is permitted to onboard private car owners as taxi operators, something that the company has been pushing for in India as well.

from Tech-Economic Times
via IFTTT

Infosys pay hikes

Infosys rolls out salary revision letters with 5-8% average hikes.

from Tech-Economic Times
via IFTTT

ETtech Explainer: How is Sonnet 3.7 hybrid reasoning model different from rest of AI pack?

Claude 3.7 Sonnet, which comes after Claude 3.5 Sonnet in Anthropic's family of models, is an ordinary LLM and a reasoning model rolled into one. Some commentators and early testers on X called the model “amazing for programming” and “the best coding AI model”. It has been made available on coding platform GitHub and on AI-powered search engine platform Perplexity AI.

from Tech-Economic Times
via IFTTT

CBSE Class X students can skip subjects, retake exams under new norms

Starting in 2026, CBSE students can choose between two Class X Board exam sessions in February and May, or opt to appear for both. Students can skip specific subjects in the second attempt if satisfied with their initial scores. Examination fees will be increased, and there will be no supplementary exams as the May session acts as one.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
via IFTTT

ET Graphics: Majorana I, Willow and new frontiers of quantum computing

The groundwork for quantum computing was laid in the early 1980s when physicists Richard Feynman and David Deutsch discovered that by applying quantum mechanics laws, these computers could outperform traditional ones.

from Tech-Economic Times
via IFTTT

‘India has potential to be a global player in quantum matter research’

Vedika Khemani, associate professor of physics at Stanford University, tells Puran Choudhary that India could be a global player in quantum matter research if it invests in its potential

from Tech-Economic Times
via IFTTT

Seeking the right model: What's keeping India from building its own LLMs

Swathi Moorthy and Annapurna Roy look at the major bottlenecks in building Indian foundational models and what’s needed to bolster the innovation ecosystem

from Tech-Economic Times
via IFTTT

Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings

This deal does not involve a full acquisition of BharatX, a Y Combinator-backed fintech credit startup, given its existing credit-related liabilities.

from Tech-Economic Times
via IFTTT

Battery-swapping companies cash in on quick commerce’s EV turn

The increasing adoption of electric vehicles for last-mile deliveries in quick commerce is driving business for startups focused on charging infrastructure and battery-swapping services. Platforms like Blinkit, Zepto, Swiggy Instamart, and Flipkart’s Minutes, which compete in the fast-growing but highly competitive quick commerce market, are turning to EVs to cut delivery costs.

from Tech-Economic Times
via IFTTT

Meta lays off 3,600 workers—Then hands execs up to 200% in bonuses

Meta has increased executive bonuses to 200% of their base salary while laying off 3,600 employees, citing “low performance.” The decision, justified as an alignment with industry standards, has triggered backlash online. Many accuse Meta of prioritising top executives over workers. Former employees claim layoffs were more about cost-cutting than performance. While some acknowledge the pay hike as standard practice, the timing has raised serious ethical concerns about Meta’s treatment of its workforce.

from Tech-Economic Times
via IFTTT

UGC NET December 2024 cut-offs announced: Check qualifying criteria for key subjects and more

UGC NET December 2024 cut-off: The National Testing Agency (NTA) has announced the UGC NET 2024 cut-off for the December session, including subject and category specifications. The cut-off marks are accessible on the official website. Over 6.49 lakh candidates appeared for the exam, with over 1.14 lakh qualifying for Ph.D. admission only.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
via IFTTT

UGC NET December 2024 result out, over 1.14 lakh candidates qualify for PhD admissions: Direct link to check here

The National Testing Agency (NTA) has announced the UGC NET December 2024 results, with 6,49,490 candidates having appeared for the exam. The scorecards and cut-off marks are now available on the official website, and eligibility certificates for qualified candidates are expected soon.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
via IFTTT

Officials are fired at traffic safety agency investigating Elon Musk's company

The National Highway Traffic Safety Administration has three active investigations of Tesla, according to agency documents, including one examining whether the company's autonomous driving software is prone to failure when visibility is poor.

from Tech-Economic Times
via IFTTT

OpenAI CEO Sam Altman welcomes baby boy, expresses ‘never felt such love’

“Welcome to the world, little guy! He came early and is going to be in the NICU for a while. He is doing well and it’s really nice to be in a little bubble taking care of him. I have never felt such love,” Altman posted on X.

from Tech-Economic Times
via IFTTT

OpenAI uncovers evidence of AI-powered Chinese surveillance tool

Ben Nimmo, a principal investigator for OpenAI, said this was the first time the company had uncovered an AI-powered surveillance tool of this kind. "Threat actors sometimes give us a glimpse of what they are doing in other parts of the internet because of the way they use our AI models," Nimmo said.

from Tech-Economic Times
via IFTTT

Top tech and startup stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

from Tech-Economic Times
via IFTTT

GCCs evolve beyond IT, ramp up hiring for specialised tech

Global Capability Centers (GCCs) are evolving beyond IT functions, prioritizing innovation and domain expertise. Hiring for specialised tech roles in BFSI, healthcare, retail, and manufacturing is rising, with a focus on AI, cloud, and automation-driven solutions.

from Tech-Economic Times
via IFTTT

RBI move to formalise debt collection may complicate recovery, say experts

In a notification issued on January 17, the central bank said transactional calls by banks, mutual fund companies and other such financial service providers should only be undertaken through the ‘160’ series of contact numbers.

from Tech-Economic Times
via IFTTT

Indian chip buzz catches the eye of specialty chemicals companies

Merck and Linde plan to set up specialty chemicals and gases facilities in India to support semiconductor manufacturing. Their investments signal growing global interest in India’s chip ecosystem, crucial for ensuring supply chain reliability and industry growth.

from Tech-Economic Times
via IFTTT

Netflix to invest $1 billion in Mexico over next 4 years

Speaking at President Claudia Sheinbaum's morning press conference in Mexico City, Netflix CEO Ted Sarandos said he looked forward to entering more partnerships with producers in the Latin American nation.

from Tech-Economic Times
via IFTTT

Karnataka Cabinet approves Rs 75 crore seed fund for startups, Rs 79 crore for semiconductor lab

The ‘Beyond Bengaluru Cluster Seed Fund’ subsumes similar seed funds setup earlier for Mysuru, Mangaluru and Hubli- Dharwad and Kalaburagi regions. The fund will target to promote 10,000 startups in regions beyond Bengaluru by 2030.

from Tech-Economic Times
via IFTTT

New tie-ups in AI, chips, biotech can soften US tariff blow

India’s $254-billion tech outsourcing industry aims to offset US reciprocal tariffs by expanding into AI, semiconductors, and biotech. Bilateral talks and initiatives like TRUST and Mission 500 will drive US-India tech collaboration and trade growth.

from Tech-Economic Times
via IFTTT

Apple says latest iPhone 16e being made in India

With this, the entire iPhone 16 lineup is now being made locally, Apple said. The company also assembles older models including the base models of the iPhone 15, iPhone 14, and iPhone 13 locally through its contract manufacturers in India.

from Tech-Economic Times
via IFTTT

Banks, fintechs await UPI subsidy payouts amid cuts in total outlay

Banks and fintech firms are awaiting subsidy payments from the government for promoting digital payments. Despite applications being filed, no funds have been received so far. The subsidy program compensates banks for waived merchant discount rates (MDR).

from Tech-Economic Times
via IFTTT

MeitY standardises government’s digital footprint with rejigged site launch

The IT ministry launched a revamped website under the new Digital Brand Identity Manual (DBIM) to standardise government digital platforms. Five other ministries will follow, ensuring a user-friendly experience and enhancing trust in government digital services.

from Tech-Economic Times
via IFTTT

Genpact spending millions to create AI solutions: CEO

Genpact will leverage a combination of autonomous agents with humans in the loop. While Genpact is changing its working model and solution set, the organisation will retain its industry vertical-based internal structure, CEO BK Kalra told ET in an interview.

from Tech-Economic Times
via IFTTT

Bidders flag end-of-life GPUs offered under IndiaAI Mission

Bidders expressed concerns about Nvidia A100 GPUs, declared end-of-life (EOL), being used in the IndiaAI Mission. They questioned the viability and support for older models, despite their cost-effectiveness, and highlighted potential issues with performance and technical support.

from Tech-Economic Times
via IFTTT

Lenskart’s IPO plans; Pay hikes at TCS

Happy Monday! Lenskart is gearing up for an IPO that could value the company at twice its previous funding round. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times
via IFTTT

Security concerns push nations away from DeepSeek revolution

Governments worldwide, including Australia, Italy, Ireland, South Korea, and the Netherlands, are cracking down on DeepSeek's R1 AI model. They are concerned by the model's data collection practices, potential for censorship, and risk of sensitive information being shared with the Chinese government.

from Tech-Economic Times
via IFTTT

Broadcom, TSMC eye possible Intel deals to split storied chipmaker

Broadcom and TSMC are exploring deals to split Intel, with Broadcom eyeing its chip-design unit and TSMC considering its manufacturing plants. Talks remain preliminary, informal, and independent.

from Tech-Economic Times
via IFTTT

Uptake of technology, scale of population, and local innovation make India an exciting market: Cameron Adams

Adams, who is on his first visit to India, recently told ET that he expects the country to become Canva’s largest market in three to five years. The Sydney-headquartered company has more than 200 million users worldwide.

from Tech-Economic Times
via IFTTT

Elon Musk's xAI in talks to raise $10 billion at $75 billion valuation

Elon Musk's startup aims to expand its presence in the AI industry by increasing its data centre capacity. Existing investors, including Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners, are in talks to participate in the deal, the report said.

from Tech-Economic Times
via IFTTT

DeepSeek doesn't scare OpenAI, thanks to the 'Jevons paradox'

Economist and logician William Stanley Jevons, noted that as engines improved and made coal more efficient -- requiring less of the resource to produce the same amount of energy -- demand for coal would actually increase, not decrease. The Chinese company created an AI tool with analytical capabilities rivalling those of Google and Microsoft's OpenAI, and seemingly at a fraction of the cost.

from Tech-Economic Times
via IFTTT

India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding

India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding. With Rs 1,500 crore support and subsidised GPUs, innovators like Ayush Gupta, Aaditya Kirti, and Sahil Gulati aim to build sovereign AI models.

from Tech-Economic Times
via IFTTT

Apple to restore TikTok on US app store, Bloomberg News reports

Apple will reinstate the ByteDance-owned TikTok app on its U.S. App Store following a directive from U.S. Attorney General Pam Bondi. U.S. President Donald Trump had previously signed an executive order delaying the enforcement of a ban on the app.

from Tech-Economic Times
via IFTTT

‘Google’s US DEI rollback unlikely to hit other markets’: Senior Google policy executive

Google’s DEI rollback is US-specific, not global, says executive. He highlights AI’s potential in India, the need for aligned data laws, and balanced AI regulation. PM Modi’s US visit underscores technology’s growing role in strengthening India-US ties and collaboration.

from Tech-Economic Times
via IFTTT

Mature nodes more viable for fabless sector in India: Marvell India manager Navin Bishnoi

The Santa Clara-headquartered company with $5.5 billion revenue has three R&D centres in India and is looking to double its capacity at its Bengaluru office this year to ensure that growth is managed both in terms of headcount as well as capability, Navin Bishnoi, Marvell’s India country manager, told ET.

from Tech-Economic Times
via IFTTT

Micron seeks partner to construct Phase-2 of Sanand chip plant

Micron Technology is inviting bids for Phase 2 of its Sanand, Gujarat semiconductor facility, with L&T and KEC International among contenders. Phase 1, initially set for 2024, now targets early 2025 completion.

from Tech-Economic Times
via IFTTT

YouTube is the new TV: CEO Neal Mohan spells out company’s 2025 bets

CEO Neal Mohan said YouTube should be seen as “next-generation studios” and highlighted that the YouTube Partner Program has paid out over $70 billion to creators, artists, and media companies in the past three years.

from Tech-Economic Times
via IFTTT

ToneTag secures $78 million in mix of primary, secondary capital

The Bengaluru-based digital payments startup bagged the funding from stock market veteran Ravi Dharamshi’s PE fund ValueQuest Scale Fund and VC fund Iron Pillar. Existing investor Elevate Capital also participated. Strengthened by the fresh funds, the company aims to scale operations in India and go global too.

from Tech-Economic Times
via IFTTT

AI mission GPU tender bidders asked to match L1 prices by February 12

Given that the bids are very competitive, companies will see the market uptake of graphics processing unit (GPU) models and then plan their investment and inventory accordingly, said some of the bidders.

from Tech-Economic Times
via IFTTT

Microsoft, Nvidia, the tech giants taking a quieter approach to Trump

Nvidia and Microsoft take different approaches to navigating Washington's politics. While Microsoft is experienced in lobbying, Nvidia is a newcomer, rapidly growing due to its dominance in AI chip manufacturing.

from Tech-Economic Times
via IFTTT

Transforming governance with a unified AI stack

As AI rapidly advances, organisations need an integrated AI stack for business transformation. This stack includes compute infrastructure, data, model development, and applications. The government’s IndiaAI Mission could create a digital public infrastructure (DPI) to provide seamless services, foster innovation, and prevent resource duplication while promoting AI development in India.

from Tech-Economic Times
via IFTTT

Bumpy ride: Auto industry stuck with excess semiconductor stock post-pandemic

Chip sales in the auto sector skid as the post-pandemic frenzy turns into an inventory glut. With tapering of sales and other expected challenges, the industry isn’t prepared to get out of second gear.

from Tech-Economic Times
via IFTTT

Top startup and tech stories this week

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

from Tech-Economic Times
via IFTTT

ChrysCapital, others in talks to take Dhan to unicorn club with $100-150 million funding

Stock trading platform Dhan is negotiating with ChrysCapital for funding that could increase its valuation to over $1 billion, helping it expand into financial services and compete with rivals like Groww and Zerodha.

from Tech-Economic Times
via IFTTT

DeepSeek’s rise proves disruption no longer reserved for richest players: Niti Aayog paper

NITI Aayog’s paper highlights China’s DeepSeek as a disruptive AI leader, urging India to seize the opportunity for innovation and ethical AI development, positioning itself as a global AI disruptor and advocate for responsible AI.

from Tech-Economic Times
via IFTTT

French President Emmanuel Macron says AI should not be 'Wild West'

Development of artificial intelligence (AI) should not be an unregulated "Wild West", French President Emmanuel Macron said Friday ahead of a global summit on the technology in Paris. "AI can't be the Wild West," Macron told French regional newspapers including Ouest-France and Le Parisien in advance of the gathering of global political and tech industry leaders on Monday and Tuesday.

from Tech-Economic Times
via IFTTT

Flipkart’s fast lane frenzy; Zomato’s going Eternal

Happy Friday! Flipkart is doubling down on its quick commerce play ahead of its flagship Big Billion Days event. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times
via IFTTT

Perfios acquires fraud detection platform Clari5

Perfios acquired fraud detection platform Clari5 to enhance its fraud management capabilities. Clari5, with 200 employees, becomes a Perfios subsidiary. This acquisition strengthens Perfios' product offering and expands its global presence in the banking sector.

from Tech-Economic Times
via IFTTT

Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days'

Flipkart plans to expand its quick commerce segment by launching 500-550 dark stores before its Big Billion Days sale, aiming to challenge rivals like Blinkit, Zepto, and Swiggy Instamart, with a goal of 300 stores by March 2025.

from Tech-Economic Times
via IFTTT

Infosys to roll out annual hike letters before end of March

“Those falling at and below job level five (JL5) will receive hikes with effect from January 1 and those at job level six (JL6) and above will get the revised pay from April 1,” chief human resources officer Shaji Mathew told employees in a townhall at the Infosys campus in Bengaluru, the people said.

from Tech-Economic Times
via IFTTT

Cashfree secures $53 million from Krafton, Apis Partners

The funds will be used to scale up its products, invest in new payment infrastructure projects and push its D2C brands. The online merchant payment startup last raised a major funding of $2.7 million from SBI in 2021. To date, it has raised $44 million.

from Tech-Economic Times
via IFTTT

Banks to take on fintechs with feature-packed merchant apps

Fintech firms like BharatPe and Paytm face increasing competition from banks such as HDFC, ICICI, Axis, and SBI, which are launching merchant-focused platforms. Banks aim to regain market share by offering payments, loans, and banking services with higher compliance.

from Tech-Economic Times
via IFTTT

Experts flag APAAR risks as institutes push enrollment

Experts raise privacy concerns about the centralised APAAR student ID database, questioning its efficacy in obtaining verifiable parental consent under the DPDPA. While some see APAAR as a solution for streamlining consent, others highlight the lack of clear data protection guidelines and potential vulnerabilities of such a large repository.

from Tech-Economic Times
via IFTTT

Sops, DeepSeek drive local firms to work on foundation AI models

The government’s subsidised common compute facility and opening for grants and funding under the IndiaAI Mission have also spurred energy among startups seeking capital.

from Tech-Economic Times
via IFTTT

Centre’s tax clarity on VC asset sales to reduce litigation

Previously, the reading of the Income Tax Act led to proceeds from exits to be considered business income for domestic alternative investment funds (AIFs), leading to these firms paying income tax.

from Tech-Economic Times
via IFTTT

Generative AI's environmental impact in figures

The surge in generative artificial intelligence (AI) is being met with growing fears about the technology's ecological footprint, one of the top questions up for discussion at a global summit in Paris on February 10-11. GPT-3 requires around half a litre (one pint) of water to generate between 10 and 50 responses, according to a conservative estimate from researchers at the University of California Riverside and University of Texas at Arlington.

from Tech-Economic Times
via IFTTT

NATA 2025 registrations to start from this date: Check important details here

The Council of Architecture will begin NATA 2025 registration on February 3 at nata.in. The exams will be held from March 1 to June 2025. On Fridays, there will be a single shift (1:30 PM–4:30 PM), while on Saturdays, exams will be conducted in two shifts (10:00 AM–1:00 PM & 1:30 PM–4:30 PM).

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
via IFTTT