Artificial intelligence
AI adoption can add $90 bn to Indian economy by 2025: Report
During the pandemic, India has reported the highest increase in the use of AI at 45 per cent, as compared to other major economies (the US at 35 per cent, the UK at 23 per cent and Japan at 28 per cent). "In fact, AI startups in India attracted total funding of $836.3 million in 2020.
Companies to spend $342 bn on AI solutions in 2021: IDC
The market is forecast to accelerate further in 2022 with 18.8 per cent growth and remain on track to break the $500 billion mark by 2024. Among the three technology categories, AI software occupied 88 per cent of the overall AI market. "However, in terms of growth, AI Hardware is estimated to grow the fastest in the next several years. From 2023 onwards, AI Services is forecast to become the fastest growing category," the report showed.
'AI would not replace people but create new opportunities'
Artificial Intelligence (AI) is creating new opportunities and could be used for health care as well as many other present and future challenges in various sectors. The secretary, Department of Science & Technology (DST) Prof Ashutosh Sharma said that AI would not replace people but create new opportunities in various fields. It works on data, and if we could train our machines, it could do wonders for us in milliseconds by automating processes.
Music streaming apps have India rocking to new tunes
Each player is coming with its own unique specialty with cutting-edge competition, yet, leading to more options for the consumers. While, the recent entrant Moodagent from Denmark has the advantage of 'Artificial Intelligence', Tidal's unique to 'High Fidelity'. However, Amazon Music boasts of 'High Definition' quality, Spotify's 'Only You' feature is a personalised experience based on users changing listening habits.
Facebook developing AI, new ways to detect users under age 13
Facebook and Instagram weren't designed for people under the age of 13, so the company is now creating new ways to stop those who are underage from signing up. "We're developing AI to find and remove underaged accounts, and new solutions to verify people's ages. We're also building new experiences designed specifically for those under 13," said Pavni Diwanji, VP of Youth Products at Facebook.
Gupshup raises additional $240 million to expand global footprint
The new funding round follows the $100 million raise from US-based investment firm Tiger Global in April at a $1.4 billion valuation. "We are transforming digital commerce around the world with conversational messaging. We look forward to partnering with our new investors given their incredible track record of backing category-creating companies," said Beerud Sheth, co-founder and CEO, Gupshup.
AI technologies set to rewrite the future of real estate sector
Technologies like AI are being seen as game-changers in the industry, especially during the pandemic that has led to increased adoption of technologies and the embracing of innovation by the industry. From Artificial Intelligence recommendations to Virtual Reality tours, home buying and selling has undergone a drastic change with increased efficiency in marketing, due diligence and sales processes.
Industrial AI firm Detect Technologies raises $12 mn
The funding round saw significant participation from existing investor Elevation Capital and continued support from Bharat Innovation Fund, BlueHill Capital, and Axilor Ventures. Stride Ventures also participated as a venture debt partner. The company said it will use the funds to further expand and strengthen its sales and operations teams across India and international markets.
Brainly introduces AI-based math solver in India
The AI-based tool is now available 24/7 and will assist users with finding solutions for the most complex mathematical problems. "With India currently under lockdown, students and parents often have only online resources to assist them whenever they hit a learning-related bottleneck," Brainly CPOP Rajesh Bysani said in a statement.
Ethical AI needs global and inclusive regulatory framework
Convened by United Nations in India and the O P Jindal Global University's School of Government and Public Policy, the conference brought together top minds on AI. They discussed the emergence of Artificial Intelligence as both a problem and a solution to social issues, its ethical implications and evaluated the existing frameworks for AI governance.
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