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Why India is so far behind in the tussle for AI supremacy

Livemint

Livemint · 1m ago

Why India is so far behind in the tussle for AI supremacy

India faces significant challenges in achieving AI innovation and research parity with the US and China. Despite a surge in AI-focused startups, the country lags in patents and groundbreaking research, with only 5% of the patents filed by China. This shortfall is attributed to limited foundational engineering, research, and development (ER&D) investment. Consequently, India’s AI endeavors are often secondary innovations, lacking the global economic influence of primary, patentable technologies.

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Blume Ventures invests $10 million in edtech firm Interview Kickstart, largest maiden cheque

Economic Times

Economic Times · 1y ago

Blume Ventures invests $10 million in edtech firm Interview Kickstart, largest maiden cheque

Bengaluru-based venture capital firm Blume Ventures has invested $10 million in Upward & Onward, the company behind software and AI-based upskilling platform, Interview Kickstart. The US-based platform offers programmes in AI, machine learning and data science, among other advanced engineering areas. Over 20,000 professionals have completed its courses so far. The funding will be used to expand the platform globally, starting with India. In addition, founder Ryan Valles said the company's programmes have helped students secure job offers worth over $250,000, with the highest offer reaching $1.2 million.

Andrew Ng plans to raise $120M for next AI Fund

TechCrunch · 1y ago

Andrew Ng plans to raise $120M for next AI Fund

The AI Fund, a startup incubator founded by Andrew Ng, plans to raise over $120 million for its second fund, AI Venture Fund II. The SEC filing shows that the fund has so far raised $69.75 million from 13 partners. Ng, who is a prominent figure in the AI community and the founder of Google Brain, launched the AI Fund in 2018 with $175 million. The idea behind the fund is to provide funding to companies in the seed and series A stages, connecting them with Ng's extensive network. The second fund is expected to be smaller than the first, but still larger than the initial target of $50 million. This comes as generative AI dealmaking has declined in recent quarters, potentially due to enterprise reluctance and concerns about productivity gains and data compromises.

Tesla is reportedly behind on its pledge to build 5,000 Optimus bots this year | TechCrunch

TechCrunch · 14d ago

Tesla is reportedly behind on its pledge to build 5,000 Optimus bots this year | TechCrunch

Tesla is significantly behind in achieving its target of producing 5,000 Optimus humanoid robots in 2025, having manufactured only a few hundred so far. This shortfall requires Tesla to either accelerate production or revise its timeline. The news coincides with a 12% drop in Tesla’s revenue due to reduced EV sales and other declines. Despite these setbacks, CEO Elon Musk remains ambitious, aiming for rapid production scaling to reach a million units annually within five years.

Crypto kingpin behind Rs 200-crore fraud in Himachal Pradesh still at large

Economic Times

Economic Times · 1y ago

Crypto kingpin behind Rs 200-crore fraud in Himachal Pradesh still at large

Police are still searching for the mastermind behind a cryptocurrency fraud that has swindled people in Himachal Pradesh, India, out of over Rs 200 crore ($27 million) since 2018. The gang used deceptive tactics to lure investors by promising high returns in a short period of time. They created a network of investors and operated a Ponzi-style scheme, with initial investors bringing in more people. The fraudsters launched multiple coins, manipulated their prices, and built fake websites. Five people have been arrested so far, and investigations are ongoing.

Why PE firms, strategic investors must prepare for regulatory changes in preschool sector

VCCircle

VCCircle · 12m ago

Why PE firms, strategic investors must prepare for regulatory changes in preschool sector

Private equity firms and strategic investors eyeing the lucrative Indian preschool sector must prepare for upcoming regulatory changes. The Indian preschool market is expected to reach $10.2 billion by 2032, but so far, the sector has largely remained unregulated. However, with increasing awareness of the importance of preschool education and a rise in disposable incomes, the government is keen to regulate the sector. Changes may include requiring preschools to be sponsored by not-for-profit organizations, prohibiting franchising arrangements, and enforcing reservation requirements for economically weaker sections of students. Investors should take these potential regulatory changes into account when considering investments in the preschool sector.

Microsoft to invest 4.3 billion euros in Italy for AI infrastructure and cloud capacity

Economic Times

Economic Times · 10m ago

Microsoft to invest 4.3 billion euros in Italy for AI infrastructure and cloud capacity

- Microsoft to invest 4.3 billion euros ($4.75 billion) in Italy for AI infrastructure and cloud capacity - The investment will be spread over the next two years - Microsoft's biggest investment in Italy so far - Aims to strengthen AI capabilities and cloud services in the country - Reflects Microsoft's commitment to Italy's technological growth and innovation

Visa acquires Brazilian fintech startup Pismo in $1B blockbuster deal

TechCrunch · 2y ago

Visa acquires Brazilian fintech startup Pismo in $1B blockbuster deal

Credit card giant Visa is acquiring Brazilian payments infrastructure startup Pismo for $1 billion in cash in what is likely one of the largest fintech M&A deals taking place this year so far.

TikTok and its 'secret sauce' caught in US-China tussle

Economic Times

Economic Times · 1y ago

TikTok and its 'secret sauce' caught in US-China tussle

As the US continues its campaign to force TikTok to sever ties with its Chinese parent company, Beijing has made it clear that it will not allow the forced sale of the app and its algorithm. Analysts suggest that China fears setting a precedent where a Chinese company is compelled to sell its most valuable assets. The algorithm, seen as the "secret sauce" behind TikTok's success, has been a focal point in discussions surrounding a potential sale. Beijing considers the threat of a forced sale to be akin to "daylight robbery" and vows to protect its interests.

Why Elon Musk’s robotaxi dreams are premature

Livemint

Livemint · 9m ago

Why Elon Musk’s robotaxi dreams are premature

Elon Musk's plan for Tesla's robot cars relies on end-to-end artificial intelligence (AI) where algorithms learn to drive safely by analyzing video footage from existing Teslas. However, this approach contrasts with competitors like Waymo, which break down the problem of self-driving into more distinct tasks with greater input from human engineers. While Musk's vision relies on AI technology reaching a higher level of sophistication, AI developers argue that it is still far from achieving that. Musk's optimism and vague promises have also raised skepticism about the feasibility of his plans.

Bomb threats to IndiGo, Air India, Vistara: Centre asks Meta, X to share data as over 250 flights receive hoax threats

Livemint

Livemint · 9m ago

Bomb threats to IndiGo, Air India, Vistara: Centre asks Meta, X to share data as over 250 flights receive hoax threats

The Indian government has requested social media platforms Meta and X to share data regarding hoax bomb threat messages targeting airlines. So far, over 80 flights have been affected by these threats. The government is now working to identify the individuals behind these activities. In the past 11 days, more than 250 flights operated by Indian carriers have received bomb threats, with many of them being issued through social media platforms. The government has traced some of the culprits but has not provided further details on their identities or the origins of the messages.

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