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News on Medial
We're like a smaller speedboat now, more nimble: Versuni global CEO Henk de Jong
Livemint
·
1y ago
Medial
Versuni India, formerly known as Philips Domestic Appliances, has opened a new manufacturing facility in Ahmedabad, with plans to create over 1,000 new jobs in the next three years. According to Henk S. de Jong, Versuni's global CEO, the facility is a testament to the company's commitment to India's growing market. De Jong also expresses optimism about India's manufacturing capabilities, noting that over 70% of products sold in India are already made there, and the new facility will help increase that number to 90%. Additionally, Versuni aims to leverage India's R&D potential and embrace a more digital-first approach.
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Venture Capital Partners Are Leaving Big Firms in Droves
Livemint
·
7m ago
Medial
Several high-profile venture capital investors have recently left their positions at well-known firms, highlighting a trend of turnover in the industry. The startup downturn and evolving role of venture capital firms have contributed to this exodus. Some investors have moved on to new funds or retired, while others have been let go due to underperformance or clashes within the partnership. The emergence of smaller, more nimble firms focused on closer relationships with nascent companies is changing the landscape of the industry. However, raising funds for these new ventures can be challenging in the current market climate.
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Our GPUs are melting: OpenAI after viral Ghibli trend
Inshorts
·
4m ago
Medial
OpenAI CEO Sam Altman on Thursday posted on X, "It's super fun seeing people love images in ChatGPT...But our GPUs are melting." He added, "We're going to temporarily introduce some rate limits while we work on making it more efficient...We're also refusing some generations that should be allowed." Sam's statement came as millions used ChatGPT to create Ghibli-inspired images.
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DeepSeek's R1 is impressive, we'll obviously deliver better models: Altman
Inshorts
·
6m ago
Medial
OpenAI CEO Sam Altman said Chinese rival DeepSeek's R1 AI is "impressive, particularly what they're able to deliver for the price". Speaking amid a global selloff in tech stocks, Altman said, "We'll obviously deliver much better models...but mostly we're excited to continue to execute our research roadmap." "World is going to want to use a lot of AI," he added.
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Indians' data is exported, processed into AI & sold to Indians: Ola CEO
Inshorts
·
1y ago
Medial
Ola CEO Bhavish Aggarwal said Indians produce 20% of the world's data and maybe even more since we're a young population and therefore have a high "per capita data production" rate. "The irony [is]...90% [of the data] is exported into...data centres, largely owned by Big Techs. It's processed into AI, brought back into India and sold...in dollars," Aggarwal said.
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OpenAI announces full “o1” reasoning model, $200 ChatGPT Pro tier
Arstechnica
·
8m ago
Medial
OpenAI has introduced a smaller and faster version of its GPT-3 language model called "o1". This model aims to improve accessibility to the GPT-3 technology. Additionally, ChatGPT Pro users can now access an enhanced and more powerful version of the model.
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Focused cuts and fewer layers: Tech layoffs enter a new phase
Economic Times
·
1y ago
Medial
Tech companies, including Amazon, Google, and Microsoft, have started a new phase of cost-cutting, making targeted job trims and focusing on key projects while doing more with less. These layoffs come after years of booming global economy and near-zero interest rates. The pandemic caused many companies to over-hire, and now they are making strategic cuts to areas with reduced investment plans. Smaller startups are also cutting staff to stay afloat. In the first 30 days of this year, around 100 tech companies have seen 25,000 layoffs.
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OYO Saw Over 4.5 Lakh Bookings On New Year's Eve: Founder Ritesh Agarwal
OutlookIndia
·
2m ago
Medial
OYO experienced a record 4.5 lakh bookings on New Year's Eve, its highest in five years, according to Founder Ritesh Agarwal. Global bookings increased by 35% compared to the previous year. Varanasi saw more bookings than Goa, highlighting a shift towards smaller cities. The year 2022 marked a significant recovery in travel, with Uttar Pradesh emerging as the most visited state and smaller towns like Hathras and Sasaram showing notable growth.
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Large AI models can now create smaller AI tools without humans and train them like a 'big brother,' scientists say
Business Insider
·
1y ago
Medial
Researchers from MIT, University of California campuses, and AI technology company Aizip claim that large AI models can now autonomously create smaller AI tools without human assistance. These smaller models, which can be generated by more advanced AI models like the one used by ChatGPT, have the potential to greatly impact our daily lives. The team views this as the first step towards self-evolving AI and believes that in the future, large and small AI models will collaborate to build a complete intelligence ecosystem.
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Dating app startups find love in small-town India
Livemint
·
1d ago
Medial
India's dating app market is witnessing growth beyond metro cities, with startups like QuackQuack and Schmooze gaining popularity in tier-2 and tier-3 cities. These new-age apps, which primarily focused on metros, are now adapting to capture the emerging digital romance trends in smaller cities. Whether they can succeed in monetization where global giants have previously struggled remains to be seen.
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Sharp pay cuts in small towns as more cos end remote work
Livemint
·
1y ago
Medial
The resurgence of in-office policies has led to a more than 40% decline in compensation for candidates in smaller towns and cities. Companies have reevaluated dearness allowances and incentives that facilitated remote work from these regions. The decline in compensation follows a 40% drop in IT sector hiring compared to last year, favoring talent from metropolitan areas due to a sluggish market. While a year ago, companies recruited from smaller cities, the dynamics have shifted, with companies insisting on office work. The compensation difference now oscillates from 5% to 40% depending on location.
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