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As India ages, its working population faces a retirement dilemma

Money Control

Money Control · 1y ago

As India ages, its working population faces a retirement dilemma

Individuals are increasingly recognizing the need to take proactive measures to secure their financial well-being in retirement. With longer life expectancies, expecting individuals to abruptly exit the workforce at a fixed age seems outdated. The rigidity of retirement age in formal systems overlooks the invaluable contributions and expertise of seasoned professionals. In an era where success is often equated with material wealth and professional status, the temptation to prolong one's career and cling to positions of power can be compelling. However, employer-sponsored retirement plans are frequently insufficient to meet the escalating post-retirement needs of individuals.

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Japan Brokerages Boost Pay, Perks to Keep Retirement-Age Workers

Livemint

Livemint · 7m ago

Japan Brokerages Boost Pay, Perks to Keep Retirement-Age Workers

Japanese securities firms are increasing pay and benefits for employees who reach retirement age in an effort to retain talent in the country's aging workforce. Companies such as Daiwa Securities, Nomura Holdings, and Sumitomo Mitsui Financial Group are offering higher compensation, paid sick leave, and heavier responsibilities to senior employees aged 60 and above. As Japan's population ages and fertility rate declines, businesses are recognizing the importance of utilizing the experience and skill sets of older workers to stay competitive and address labor shortages.

India produces 20% of world's data: Ola founder Bhavish Aggarwal

Economic Times

Economic Times · 1y ago

India produces 20% of world's data: Ola founder Bhavish Aggarwal

Bhavish Aggarwal, the founder and CEO of Ola, highlighted India's data export and storage dilemma. He pointed out that India produces 20% of the world's digital data but only stores a fraction of it locally. The remaining data is processed by tech giants abroad and then sold back to Indians in dollars. Aggarwal emphasized the need for India to produce more data, considering its young population and potential in artificial intelligence. He compared the situation to historical colonialism, where resources were exported and finished products imported.

OpenAI begins India hiring in bid to shape regulation early

Economic Times

Economic Times · 1y ago

OpenAI begins India hiring in bid to shape regulation early

OpenAI has hired its first employee in India, appointing Pragya Misra as the head of government relations. As the country votes in a new administration, Misra will navigate AI regulations in India, the world's most populous nation. OpenAI aims to push for favorable rules as governments globally consider regulating AI. With its large population and growing economy, India presents a significant growth opportunity for tech companies. OpenAI faces competition from Google, which is developing an AI model specifically for India to widen internet access across multiple languages. OpenAI CEO Sam Altman has emphasized the importance of integrating AI technologies into government services.

Meta launches new teen safety features, removes 635,000 accounts that sexualise children - The Economic Times

Economic Times

Economic Times · 17d ago

Meta launches new teen safety features, removes 635,000 accounts that sexualise children - The Economic Times

Meta has launched new safety features to protect teenagers on its platforms and removed 635,000 accounts linked to inappropriate interactions with minors. The measures aim to enhance teen safety by allowing easier reporting and blocking of harmful accounts. Meta is also employing AI to verify users' ages and convert them into teen accounts if misrepresented. This comes as Meta faces scrutiny and lawsuits over its impact on youth mental health.

Chinese robot developers hope for road out of 'uncanny valley'

Economic Times

Economic Times · 1y ago

Chinese robot developers hope for road out of 'uncanny valley'

The China Humanoid Robot Developer Conference showcased a range of humanoid robots, attracting attention from investors and the government. One company, Fourier Intelligence, has commenced mass production of its GR-1 bipedal robot, which was even visited by Chinese President Xi Jinping. The industry is expected to boom in the coming years, with the robots potentially being used for elderly care as China's population ages. Efforts are being made to make the robots more human-like, such as by equipping them with video-generated eyes and allowing parents to digitally implant their image into the robot.

Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses

TechCrunch · 1y ago

Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses

The rise of fintechs, fueled by cheap money and interchange fees, faces challenges as central banks raise interest rates. Many fintechs rely heavily on interchange fees as a source of revenue, but these fees are capped, while interest rates are not. This creates a dilemma as borrowing costs for fintechs can spiral out of control in times of rising interest rates. To survive, fintechs need to diversify their revenue streams, focus on building great software, and reevaluate their customer incentives.

ChatGPT a mentor for Japan's 89-year-old app developer

Economic Times

Economic Times · 1y ago

ChatGPT a mentor for Japan's 89-year-old app developer

89-year-old Japanese retiree, Tomiji Suzuki, has learned coding in his retirement and is now developing apps for the elderly population using ChatGPT to enhance his skills. Suzuki has created 11 free iPhone apps, including a slideshow reminder of items to remember when leaving the house. Inspired by forgetting his dentures before boarding a train, Suzuki believes his age has given him unique insight into the needs and expectations of the elderly. With Japan's aging population, Suzuki's apps aim to cater to the growing demands of the elderly demographic.

Dell's 50% employees choose remote work over promotions, says report. Check why

Livemint

Livemint · 1y ago

Dell's 50% employees choose remote work over promotions, says report. Check why

Dell Technologies is experiencing a dilemma as almost 50% of its employees have chosen to work fully remote, despite the disadvantages in terms of career advancement. The company implemented a new policy distinguishing employees as either remote or hybrid, with remote workers being restricted from promotions or applying for new roles. However, many employees have cited practical, financial, and personal reasons for opting to work remotely. Some employees have expressed frustration with limited advancement opportunities regardless of their working arrangements and are exploring job opportunities elsewhere.

India question makes it to Berkshire Annual meeting; Buffett says, “a more energetic management” could consider the opportunity

Money Control

Money Control · 1y ago

India question makes it to Berkshire Annual meeting; Buffett says, “a more energetic management” could consider the opportunity

During the Berkshire Annual Meeting, Warren Buffett addressed the potential opportunities in India. When asked about investing in the Indian equity market, Buffett stated that there are likely many opportunities in countries like India. However, he highlighted the importance of having insights, contacts, and an advantage in pursuing these opportunities. Buffett mentioned that Berkshire has a great reputation globally and the potential for unexplored opportunities in India. He also emphasized the dilemma Berkshire faces in competing with asset managers who may profit solely based on the amount they buy rather than the quality of their investments.

BSNL To Roll Out 5G Services By June 2025: Telecom Minister

Inc42 · 9m ago

BSNL To Roll Out 5G Services By June 2025: Telecom Minister

BSNL plans to complete the rollout of its 4G network, developed indigenously, by May 2025 and will subsequently transition to 5G, according to Minister of Communications Ashwini Vaishnaw. The company already has a working core network and radio access network, with over 38,300 operational sites as of October 13th. India has achieved the fastest 5G rollout globally, installing 450,000 towers in just 22 months to cover approximately 80% of the country's population.

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