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Companies recognise potential of AI, but must address readiness gaps : Infosys research

Economic Times

Economic Times · 8m ago

Companies recognise potential of AI, but must address readiness gaps : Infosys research

Global companies are keen to adopt artificial intelligence (AI) for their businesses but are facing challenges in fully integrating it, with gaps in basic AI readiness, according to a report by Infosys Knowledge Institute. The report, based on a survey of over 1,500 respondents across several countries, found that only 2% of organisations are effectively ready for AI across key dimensions such as talent, strategy, governance, data and technology. Technology readiness was identified as the biggest gap, with only 9% of companies possessing the necessary AI capabilities. The report recommends addressing gaps and fostering a culture of innovation to fully realise the potential of AI.

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In 2024, Edtech Sought an AI Makeover While Trying to Overcome Byju’s Blow

OutlookIndia

OutlookIndia · 6m ago

In 2024, Edtech Sought an AI Makeover While Trying to Overcome Byju’s Blow

In 2024, the edtech sector, heavily impacted by Byju's financial collapse and legal troubles, turned towards AI for transformation. Despite Byju's negative shadow, individual edtech companies are viewed positively, with increased 2024 funding at $215 million compared to 2023. AI is anticipated to revolutionize education, enhancing personalized learning and real-world readiness. The industry also sees a shift towards offline learning for effective outcomes, while upskilling initiatives address significant skill gaps, drawing renewed investor confidence.

India ranks 36 out of 170 nations on readiness for frontier technologies global index

Economic Times

Economic Times · 3m ago

India ranks 36 out of 170 nations on readiness for frontier technologies global index

India ranks 36th out of 170 nations on a global readiness index for frontier technologies, according to a UN report. The country improved from 48th in 2022, showing strengths in research and development, and industrial capacity. India, alongside China and Brazil, is among developing nations excelling in AI and tech infrastructures. The report highlights AI's growing economic impact and the need for reskilling to address potential job displacement, as well as government efforts to bolster India's AI ecosystem.

Indian IT services companies shed reliance on H-1B visas

Livemint

Livemint · 6m ago

Indian IT services companies shed reliance on H-1B visas

Indian IT services companies are reducing reliance on H-1B visas as their hiring in the U.S. increases. The H-1B visas, critical for employing foreign nationals in specialized roles, saw a decline in numbers over the decade, with companies like Infosys and Cognizant leading local hiring efforts. Despite mitigated vulnerability, potential visa restrictions and increased salary requirements could impact costs. Industry advocates highlight the essential role of H-1B workers in bridging U.S. skills gaps.

OpenAI assigns new project to AI safety leader Aleksander Madry in revamp

Economic Times

Economic Times · 11m ago

OpenAI assigns new project to AI safety leader Aleksander Madry in revamp

OpenAI's AI safety leader, Aleksander Madry, is reportedly working on a new research project while the startup reshapes its preparedness team. Madry will transition into a bigger role within the research organization, with OpenAI executives Joaquin Quinonero Candela and Lilian Weng taking over the preparedness team temporarily. The team evaluates the readiness of OpenAI's AI models for artificial general intelligence. The company's chatbots, capable of human-like conversations and generating multimedia content, have raised concerns about safety. OpenAI recently established a Safety and Security Committee to address these concerns.

TCS, Infosys trail Accenture, global rivals in race for AI-project bookings

Livemint

Livemint · 11m ago

TCS, Infosys trail Accenture, global rivals in race for AI-project bookings

Indian IT services companies Tata Consultancy Services (TCS) and Infosys are lagging behind global peers such as Accenture and IBM in the number of artificial intelligence (AI)-related projects, according to US research firm Information Services Group (ISG). TCS had 300 AI projects and Infosys had 200, whereas Accenture had 2,250 and IBM had 1,000. Analysts attribute the gap to the foreign companies' earlier start in AI client engagement and a more aggressive approach in marketing their projects. However, it is important to note that the data only includes five pure-play IT services companies, with only two being Indian.

Can we rid artificial intelligence of bias?

Economic Times

Economic Times · 1y ago

Can we rid artificial intelligence of bias?

Artificial intelligence (AI) carries the risk of perpetuating discrimination due to the biases present in the data it is trained on. The reliance on AI in various industries, such as healthcare and finance, raises concerns about the potential for biased decision-making. Companies have faced backlash for discriminatory practices with AI, like facial recognition falsely identifying individuals. While efforts are being made to address bias in AI, it remains a complex issue as subjective expectations and the inherent biases of humans are intertwined with AI development. Ultimately, humans must actively guide AI to ensure its outputs align with appropriate standards.

(AI)gorithm turns recruiter

Economic Times

Economic Times · 1m ago

(AI)gorithm turns recruiter

Infosys and other major Indian IT firms are increasingly using AI in their recruitment processes. Vidya, an experienced engineer, encountered an AI chatbot in her Infosys interview, reflecting a shift towards AI-driven hiring, including resume screening, interviews, and facial recognition to prevent impersonation. Companies like HCLTech and Wipro utilize AI extensively, saving significant time and reducing bias. AI facilitates efficient hiring, but challenges in communication and comprehension remain acknowledged by candidates.

‘Speed alone won’t guarantee success:’ Kunal Shah on AI in software development

Business Today

Business Today · 4m ago

Kunal Shah emphasizes that while AI accelerates software development, success requires more than just speed. Companies must balance rapid development with strategic planning and execution to thrive in the competitive digital landscape. AI's potential is significant, but without careful consideration of its application, speed alone may not guarantee success. This approach ensures that innovation aligns with business objectives, ultimately enhancing the effectiveness and impact of AI-driven developments in the tech industry.

How to maximize the rewards, and minimize the risks, of GenAI

Techradar

Techradar · 1y ago

How to maximize the rewards, and minimize the risks, of GenAI

Generative AI has emerged as a groundbreaking technology, with numerous advancements and releases from major tech companies. Its potential impact on various aspects of life and industry has sparked debates, positioning it at the peak of inflated expectations on Gartner's Hype Cycle. Businesses are increasingly looking to experiment with and scale generative AI to harness its opportunities, but widespread adoption remains low. As governments and regulators work on AI legislation, organizations must also establish their own governance to ensure privacy, security, compliance, and ethics in AI adoption. The human-AI relationship is crucial, requiring continuous feedback to enhance AI's performance and enable it to augment tasks effectively. Organizations must prepare for AI's integration to minimize risks and maximize benefits.

Why IT needs framework for responsible agentic AI

Economic Times

Economic Times · 1m ago

Why IT needs framework for responsible agentic AI

The IT industry must develop standards for the responsible deployment of agentic AI, as these technologies operate autonomously with minimal oversight. Experts from firms like Infosys and Tech Mahindra highlight the need for robust safeguards due to higher risks and potential unintended consequences. This includes evolving governance standards, enhanced security, and compliance frameworks. As agentic AI's influence grows, there is a call for new trust infrastructure focusing on safety and accountability in its deployment.

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