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News on Medial
AI to deliver 50% of automation improvements, unlocking $7 trillion in productivity: NetApp CEO
Economic Times
·
11m ago
Medial
Artificial intelligence (AI) holds immense potential for transforming various industries and improving efficiency, with AI expected to deliver 50% of automation advancements in the coming years. NetApp CEO George Kurian emphasized the significant progress made in AI's ability to understand and analyze data, enabling automated analysis of unstructured data such as conversations, documents, and design blueprints. As companies reach the third stage of data collection and analysis, NetApp has expanded its flash storage portfolio and integrated intelligent features for enhanced security and governance.
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Risk and impact of artificial intelligence use in businesses
Economic Times
·
1y ago
Medial
Two recent reports on the impact of artificial intelligence (AI) on Indian enterprises highlight the significance of process automation and generative AI as key investment catalysts. The Automation Now & Next report by Automation Anywhere and Foundry analyzed actions and experiences of decision-makers, underscoring AI, productivity improvements, and scalability. The AI Raising the Bar report by Experian India and Forrester Consulting surveyed business leaders in financial services and telcos, emphasizing India's leadership in the cloud, AI, and ML ecosystem. It further highlighted the commitment of Indian business leaders to integrating advanced analytics with AI capabilities.
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Dixon partners with Tech Mahindra for AI-led automation at manufacturing plants, R&D centres - The Economic Times
Economic Times
·
24d ago
Medial
Dixon Technologies (India) Ltd has partnered with Tech Mahindra to integrate AI-led advanced automation and Industry 4.0 technologies across its manufacturing plants and R&D centers. This collaboration aims to enhance speed, precision, flexibility, and efficiency through increased data analytics, automation, robotics, and integration with customer systems. By enabling intelligent manufacturing environments and improving data sharing, the partnership seeks to drive productivity improvements and proactive decision-making within Dixon’s operations.
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Can your organisation afford to overlook AI integration?
Economic Times
·
1y ago
Medial
The global AI market is projected to reach $1,811.8 billion by 2030, with a CAGR of 38.1%. AI offers opportunities to streamline operations, drive innovation, and deliver personalized customer experiences. Automation and data analysis are two areas where AI is making significant strides, enhancing efficiency and unlocking valuable insights. Embracing AI integration is crucial for organizations to stay competitive and meet customer expectations. However, data readiness, addressing talent gaps, investing in computing infrastructure, and managing hybrid and multi-cloud environments are key challenges. Hewlett Packard Enterprise (HPE) offers comprehensive AI solutions and expert guidance to help organizations successfully implement AI initiatives.
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Why tech is racing to adopt AI coding, with Cursor’s Michael Truell
The Verge
·
25d ago
Medial
Anysphere's CEO, Michael Truell, discusses the AI-powered automated programming platform, Cursor, with Casey Newton. Cursor integrates with generative AI models to aid code writing within an integrated development environment. With the rise of AI coding tools, Cursor stands out by offering unparalleled efficiency and productivity for programmers. Despite concerns over job automation, Truell emphasizes the gradual evolution of AI in programming, fostering developer creativity and productivity while reducing time on mundane tasks.
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$1.4 trillion Norwegian sovereign wealth fund's CEO says it is using AI to deploy capital
Economic Times
·
1y ago
Medial
Norway's $1.4 trillion sovereign wealth fund, the world's largest, is utilizing artificial intelligence (AI) to manage its investments. The fund aims to reduce trading by employing AI models and increase productivity by 10% in the next year. CEO Nicolai Tangen discussed the strategy with OpenAI CEO Sam Altman, who suggested a 20% productivity boost. The fund also encourages the companies it invests in to responsibly engage with AI, particularly in the healthcare, finance, and tech sectors. Transparency, explanation, oversight, and control are emphasized in the development and deployment of AI systems.
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GenAI to generate economic value worth $2.6-$4.4 trillion annually: Report
Economic Times
·
1y ago
Medial
Generative AI (GenAI) is projected to generate annual economic value ranging from $2.6 trillion to $4.4 trillion. Around 75% of this value is expected to be concentrated in core service lines such as software engineering, customer operations, R&D, and sales and marketing, which are essential for technology service providers in India. Over the next five years, more than 100 GenAI use cases are predicted to drive 15-20% additional growth, with potential productivity improvements of 30% in the next two to three years. The generative AI space is rapidly evolving, with providers reshaping their approaches and increasing investments in areas like technology, talent, and risk management.
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Vividobots raises Rs 1.47 Cr in seed round led by IPV
Entrackr
·
4m ago
Medial
Chennai-based robotic automation startup Vividobots has raised Rs 1.47 crore in its seed round led by Inflection Point Ventures (IPV). The proceeds will be used for product innovation and the scaling of robotic systems tailored to high-rise real estate maintenance. Founded in 2021 by Dhinesh B (CEO), Velmurugan B (CPO), and Kesavaraj S (CTO), Vividobots focuses on developing AI-powered robotic systems that automate exterior building maintenance, offering time, cost, and safety improvements over manual methods. Currently operational in Chennai, Vividobots plans to expand into other metro cities. Its technology enables up to 70% time savings, 50% cost reduction, and 15% material savings in vertical surface maintenance, with applications in painting and cleaning. The startup is part of the Brigade REAP accelerator and was named among the Top 10 Real Estate Tech Startups by Mahindra LEAP in 2023. According to market research, the Indian market for these services stands at $4.46 billion (SOM), with global TAM reaching $1.56 trillion, pointing to significant potential for automation in the sector.
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Infosys to hire 20,000 freshers amid IT job loss fears - The Economic Times
Economic Times
·
1m ago
Medial
Infosys plans to hire 20,000 graduates this year, emphasizing AI and reskilling to boost competitiveness, according to CEO Salil Parekh. The company aims to stay ahead by training 275,000 employees and leveraging AI for automation and insights, necessitating advanced skills. Amid industry layoffs, Infosys focuses on job expansion, reflecting commitment to technology and workforce. Parekh highlighted productivity gains from AI-driven automation, while maintaining the importance of human expertise for complex tasks.
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Sam Altman wants Washington's backing for his $7 trillion AI chip venture
Business Insider
·
1y ago
Medial
OpenAI CEO, Sam Altman, is seeking US government approval for his trillion-dollar AI chip project due to potential national security and antitrust concerns. Altman aims to raise up to $7 trillion to address the global chip shortage by partnering with OpenAI, chip makers, and investors. However, Nvidia CEO, Jensen Huang, expressed doubt about the proposed amount, suggesting that AI development wouldn't require such a significant investment. Altman's plans highlight the growing importance of AI technology and its impact on various sectors.
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How AI Automation Tools Can Help You Save Time and Money
StartupTalky
·
1y ago
Medial
AI automation tools are transforming industries by streamlining processes, improving efficiency, and saving time and money. Chatbots, predictive analytics, and other AI-powered tools can automate repetitive tasks, enhance productivity, and make informed decisions. Implementing AI automation offers benefits such as increased productivity, improved customer service, reduced costs, and enhanced accuracy. Various industries, including manufacturing, healthcare, retail, and finance, can leverage AI automation for tasks like predictive maintenance, personalized recommendations, and risk assessment. Challenges include data quality, ethical considerations, and the need for specialized skills. The future of AI automation holds advancements in natural language processing, robotics, augmented decision-making, and the development of ethical AI frameworks.
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