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Generative AI will move from disruption to optimisation in 2024
OutlookIndia
·
1y ago
Medial
Dell Technologies predicts that in 2024, the focus of AI will shift from experimentation to strategic implementation, with the first wave of GenAI enterprise projects reaching maturity. They emphasize the need for an ecosystem approach and collaboration to achieve digital transformation. Dell also highlights the importance of edge computing, hybrid quantum systems, multi-cloud adoption, and the fortification of Zero Trust architectures in securing the digital future of the Asia Pacific and Japan region. They plan to introduce the industry's first commercial Zero Trust private cloud system in 2024.
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C-suites spot an ally in GenAI, see faster tech change in 2024: report
Economic Times
·
1y ago
Medial
According to a survey by Accenture, 58% of C-suite leaders in India anticipate a faster acceleration of technology disruption in 2024. The survey also revealed that 88% of these leaders view generative AI as an opportunity rather than a threat. Technology has become a top factor, surpassing talent, economy, and other factors, mainly due to the emergence of generative AI.
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75% of tech leaders plan GenAI implementation within next year: report
Economic Times
·
10m ago
Medial
- Seventy-five percent of technology leaders plan to implement Generative AI within the next year. - Technological disruption is identified as the top external factor impacting businesses in the coming years. - Competitive advantage in industries will depend on the effective use of AI. - Generative AI is expected to significantly improve risk assessment for businesses. - Cloud-based services are increasingly being adopted to connect data, analytics, and software. - Businesses are prioritizing the consolidation of siloed datasets into a single platform to enable AI/ML capabilities and faster deployment of models.
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Google pilots India version of search powered by gen AI
Livemint
·
1y ago
Medial
Google has launched its generative AI-based search engine, called Search Generative Experience (SGE), in India. The platform uses generative AI to provide conversational and natural language search results. Users can opt in to try the service through Google Labs. SGE integrates advertisements and will eventually expand its pilot to include more Indian languages. This move comes as Google aims to catch up with Microsoft, which launched a similar generative AI-powered search engine using OpenAI's GPT-4. Google is also exploring ways to monetize its generative AI efforts through platforms like SGE.
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Meta moves members of its Responsible AI team to other groups
Economic Times
·
1y ago
Medial
Meta Platforms, the parent company of Facebook, is reassigning members of its Responsible AI team to other groups within the company. The move aims to bring the team closer to the development of core products and technologies. Most team members will transition to generative AI, contributing to responsible AI efforts, while some will move to AI infrastructure. Meta is emphasizing its commitment to safe and responsible AI development, and the reshuffling is intended to enhance scalability for future needs. The company recently rolled out generative AI tools for advertisers.
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Physics Wallah eyes offline expansion in 2024 with 100 physical centres
Economic Times
·
1y ago
Medial
Edtech unicorn Physics Wallah plans to expand its offline presence to 100 centers in 2024, up from 64. Co-founder Prateek Maheshwari stated that the expansion will be funded from the Rs 100-crore corpus allocated for two years starting January 2023. Physics Wallah aims to reach 2.4 lakh students, up from 1.4 lakh in the previous year. The company is set to enter Tamil Nadu through a partnership with Xylem Learning in 2024. Physics Wallah is also developing Alakh AI, a language-agnostic generative AI study companion, set to launch in February 2024.
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GenAI spending by banks to reach $85 billion globally by 2030
Economic Times
·
1y ago
Medial
According to a report, banks are projected to spend $85 billion on generative AI (GenAI) by 2030, a 1,400% growth from the current global spending of $6 billion in 2024. Leading banks are expected to adopt generative AI services to offer personalized user experiences and reduce costs. Generative AI platforms can create text, images, and other media by learning patterns and structure from training data. The report emphasizes the importance of investing in GenAI now to gain a competitive advantage.
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CEOs fear for their firms in pre-Davos survey as AI, climate risks rise
Economic Times
·
1y ago
Medial
According to a PricewaterhouseCoopers (PwC) survey, 45% of global CEOs believe their businesses will not survive the next decade without significant changes. The survey, conducted prior to the World Economic Forum's annual meeting in Davos, highlighted concerns about the impact of generative AI and climate disruption. Around 75% of CEOs predicted that AI would significantly change their businesses in the next three years, with potential job losses and the need for new skills emerging as key concerns. Moreover, environmental concerns are also pressuring margins, with 40% of executives accepting lower returns for climate-friendly investments.
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Amazon adds $230 million in cloud credits to AI startups
Economic Times
·
1y ago
Medial
Amazon will invest $230 million in the form of Amazon Web Service (AWS) credits to support artificial intelligence (AI) startups. This move aims to attract early-stage generative AI companies to build their businesses on AWS by providing them with free computing power, various AI models, and infrastructure. Additionally, part of the investment will be used to support 80 early-stage companies globally through the AWS Generative AI Accelerator program. Cloud providers, including Amazon, are offering credits to entice enterprises to use their services, as AI demand continues to drive the growth of cloud providers.
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SenseAI Ventures leads $1 Mn round in LLUMO AI
Entrackr
·
11m ago
Medial
Artificial intelligence optimisation company LLUMO AI has raised $1 million (about Rs 8 crore) in seed funding round led by SenseAI Ventures along with participation from India Quotient, AumVC, Venture Catalyst, IIM Indore Alumni Angel fund, and other angel investors. The funds will be used to expand into the US market as well as the development of an enterprise-grade platform that integrates with existing AI workflows, LLUMO said in a press release. Co-founded in 2023 by Shivam Gupta and Akshat Anand, LLUMO weeds out the hassles of inability to assess LLM performance in real-world scenarios and the soaring costs associated with LLM usage. The platform empowers businesses to reduce Generative AI costs by up to 80% and gain visibility into LLM performance. According to the Noida-based company, its solutions are two proprietary tiny LLMs which are trained on millions of data points. The first model compresses prompts, significantly reducing costs while maintaining output quality while the other is Eval-LM (Evaluation Language Model), assesses LLM-generated output without requiring ground truth data. By leveraging these models, businesses can optimize their LLM implementations, achieve faster iterations, and drive growth without straining their budgets. LLUMO AI aims to help businesses and harness the potential of Generative AI. The platform will bridge the gap between POC and production, enabling efficient deployment of AI solutions. It intends to enable businesses to drive innovation, improve customer experiences, and achieve sustainable growth.
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Hitachi, Microsoft plan for multibillion-dollar AI partnership
Livemint
·
1y ago
Medial
Hitachi and Microsoft have announced a partnership to promote the adoption of generative artificial intelligence. Through the collaboration, Hitachi will integrate Microsoft Cloud and GitHub Copilot into its Lumada business, aiming to generate $18.9 billion in revenue from Lumada in the current fiscal year. Microsoft has been making significant investments in Asia, with plans to invest in cloud and AI infrastructure in Malaysia, Indonesia, and Thailand. Hitachi also intends to invest $1.92 billion in generative AI by fiscal 2024. The two companies have been working together on digital solutions for manufacturing and logistics.
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