'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
Under the India AI mission, supercomputing, comprising over 10,000 GPUs, will be made available to various stakeholders for creating an AI ecosystem.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
'Binary fission will happen -- startups will lead to more startups.'
'We will start reaching out to researchers, academics, and experts on AI from top universities and companies from across the world.'
The setting up of STEAG is part of the Army's efforts to develop technologies considering the future battlefield, they said.
Computer science has been an evergreen choice among engineering aspirants. However, with the rise in AI, students are increasingly realising the potential of automation and robotics.
Automation, artificial intelligence, cryptocurrency and virtual reality would demand more jobs.
Despite the alarming figures on job displacement, AI is expected to generate millions of new roles, echoing historical trends of technological transformation.
He said that as compared to global models costing 2.5 to 3 US dollars per hour usage, India's AI model will cost less than less than Rs 100 per hour (1.16 US dollars per hour) after 40 percent government subsidy.
Employers in India are planning to outpace global adoption in certain future technologies as companies operating in the country are heavily investing in technologies like artificial intelligence (AI), energy technologies, robotics, and autonomous systems, said the World Economic Forum (WEF) in its latest "Future of Jobs" report released on Wednesday. The report, released days before the WEF annual meeting in Davos from January 20-25, notes that 35 per cent employers in India think that adopting semiconductors and computing technologies (compared to 20 per cent globally) will transform their operations while 21 per cent employers think that adopting quantum and encryption technologies (compared to 12 per cent globally) will also transform their operations.
From cloud computing to people analytics, most lucrative future jobs will be dominated by people with digital skills and expertise, explains Sarita Digumarti, chief learning officer, UNext Learning.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
The overall average package offered during IIT Bombay placements 2023-2024 stood at Rs 23.5 LPA. 22 students accepted offers with annual packages exceeding Rs 1 crore.
State-owned Life Insurance Corporation (LIC) is not keen on a composite license but it is looking to buy less than 50 per cent stake in a standalone health insurance company to enter the health insurance segment such that they have a say in the management of the company, without having to run the company, sources in the know said. "LIC doesn't need a composite licence. "Even if it is introduced, they will not opt for it.
The company has also stepped up its courtship of machine-learning PhD's, joining Google, Amazon, Facebook and others in a fierce contest
"Emerging fields, including artificial intelligence, machine learning, Internet of things, blockchain, and big data can take India to new heights of development, and improve the quality of life of its citizens," he said, adding for India, this is not just an industrial transformation, but a social transformation.
Considering factors like job prospects, growth potential and industry trends can provide valuable insights into selecting a suitable career path, suggests rediffGURU Rohit Gupta.
Half of the people earning between Rs 30 lakh and Rs 70 lakh will lose their jobs in next 10 years.
The government on Monday said it proposes to incentivise incorporation of one person companies, a move that will benefit startups and innovators.
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday said the central bank has developed an innovative artificial intelligence and machine learning (AI/ML) based model MuleHunter.ai to address the growing issue of mule bank accounts that are often used for committing financial fraud. Developed by the Reserve Bank Innovation Hub, the new initiative is piloted with two public sector banks.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
The IT sector's fresher hiring is expected to rise by 20% to 25% for 2024-2025. The increase in hiring is driven by a focus on specialised skills catering to segments like AI, machine learning and data analytics.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
... And it's not just fear of job losses, says Ajit Balakrishnan.
... while learning from past tech revolutions, suggests Ajit Balakrishnan.
Learning will become genuinely global as a result of immersive experiences. Edtech advances will increase engagement, enhance knowledge and dissolve geographical barriers, says Anant Bengani, director, Zell Education.
Indian IT hiring landscape is at a pivotal juncture as it transitions from a year of decline towards a more hopeful future. The focus on specialised skills, particularly in AI and data science, combined with geographical shifts towards Tier 2 cities, indicates a transformation within the sector.
The growing decline of MTech applicants in Indian colleges is due to multiple factors, including outdated curricula, poor return on investment and lucrative non-engineering alternatives, say experts.
One test might be whether the computer could analyse and follow a set of instructions for an unfamiliar task.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
In today's rapidly evolving digital payment landscape, security concerns remain a top priority for stakeholders across sectors.
Did you know that ethical hackers earn anything between Rs 800 to Rs 1,000 per hour?
rediffGURU Aasif Ahmed Khan counsels students on the best career options in tech and engineering.
Skills like social media, e-mail marketing, SEO (search engine optimisation) and PPC (pay per click) will be essential in 2025, says Sachin Alug, CEO, NLB Services.
Railways ramps up project to instal AI-based cameras that can recognise faces.
The new hires will work in cutting-edge domains of artificial intelligence, machine learning, IoT, natural language processing, camera technology and 5G networks.
India and Qatar on Tuesday agreed to elevate their relationship to a strategic partnership and double bilateral trade to USD 28 billion over the next five years. Prime Minister Narendra Modi and Qatari Amir Sheikh Tamim Bin Hamad Al-Thani signed agreements and MoUs to strengthen economic cooperation, including a revised double taxation avoidance agreement. The strategic partnership will cover the "entire spectrum" of the bilateral relationship, including trade, energy security, and regional and international cooperation. Both leaders also discussed ways to further strengthen and broaden the energy partnership, including "exploring mutual investments." The Amir's visit provided an "excellent opportunity" for the top leadership of the two countries to discuss and "cement a strategic partnership for enhanced future cooperation."
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