Companies expected to increase Gen AI investments by half this year
1 week ago

Companies expected to increase Gen AI investments by half this year

Live Mint  

Companies worldwide are expected to spend 50% more on adopting generative AI technologies in 2025 compared to last year, according to a report from an American technology research and IT advisory firm. Last year, seven IT services firms, including Accenture Plc., Cognizant Technology Solutions Corp., and Capgemini SE, flagged the rise of AI and GenAI tools as a risk factor in their annual reports. “In terms of the supply impact, we think that clients are going to want to benefit from the productivity gains that generative AI provides IT services companies through code and workflow efficiency," Bachman wrote, adding that that customers may pay less for work being done in less time and/or with fewer people. “In our view, AI technology will serve as a competitive advantage to create new business opportunities and operating models," said Axis Capital analysts Manik Taneja, Saksham Savernya, and Rohit Thorat in a note dated 10 December. Accenture Plc, the IT world’s largest software services company, said it got about $900 million in revenue from GenAI-related work last fiscal, that is until the 12 months through August 2024.

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History of this topic

Why your company is struggling to scale up generative AI
8 hours, 55 minutes ago

Why your company is struggling to scale up generative AI

Live Mint  

For investors concerned that America’s tech giants are making recklessly large bets on generative artificial intelligence, big tech’s latest quarterly results have offered some reassurance. Accenture, a consulting giant that recently announced it would train 30,000 staff to help companies adopt generative AI, said in September that it had booked $3bn-worth of work related to the technology over the past …

Will AI steal your job in 2025? ChatGPT CEO Sam Altman makes a significant statement
2 days, 21 hours ago

Will AI steal your job in 2025? ChatGPT CEO Sam Altman makes a significant statement

India TV News  

Since the introduction of ChatGPT, the landscape of artificial intelligence has undergone a remarkable transformation. In a recent blog post, Sam Altman, the CEO of the company behind ChatGPT, made some significant points about generative AI that could have far-reaching implications for the global economy. The future of the industry with AI Sam Altman asserted in his blog that by …

In 2024, artificial intelligence was all about putting AI tools to work
1 week ago

In 2024, artificial intelligence was all about putting AI tools to work

LA Times  

If 2023 was a year of wonder about artificial intelligence, 2024 was the year to try to get that wonder to do something useful without breaking the bank. There was a “shift from putting out models to actually building products,” said Arvind Narayanan, a Princeton University computer science professor and co-author of the new book “AI Snake Oil: What Artificial …

AI robots are entering the public world—with mixed results
1 week, 1 day ago

AI robots are entering the public world—with mixed results

Live Mint  

Robots are stepping out. “Some things which are very easy for people are very hard for robots," said David Pinn, chief executive of Brain Corp, which provides software for automated floor-cleaning and inventory management robots used at retailers like Sam’s Club. Robots that will operate in human spaces will need better dexterity and the ability to circumvent obstacles—both areas that …

Year Ender 2024: Looking Back At The Top AI Stories This Year That'll Take Us Forward
1 week, 3 days ago

Year Ender 2024: Looking Back At The Top AI Stories This Year That'll Take Us Forward

ABP News  

Year Ender 2024: As we bid farewell to 2024, it’s impossible to ignore the groundbreaking advancements in artificial intelligence that have shaped this year. From generative AI tools revolutionising industries to cutting-edge research pushing the boundaries of machine learning, 2024 has been a pivotal year for technological progress. This year also saw AI becoming more accessible and integrated into everyday …

Was 2024 indeed better than last year for the big boys of Indian IT?
1 week, 3 days ago

Was 2024 indeed better than last year for the big boys of Indian IT?

Live Mint  

Bengaluru: India’s top five information technology services companies grew at a slower clip in the first nine months of this year, defying hopes that the $254 billion industry would rebound after reporting its weakest growth ever in 2023. The spectre of GenAI Keith Bachman, an analyst with BMO Capital Markets, said in a 12 December report that increased hiring by …

AI in 2025: What to expect and how will it reshape the world
1 week, 4 days ago

AI in 2025: What to expect and how will it reshape the world

Hindustan Times  

If 2024 is the year companies started adopting AI, 2025 could be the year they start tailoring it to fit to their needs. New year will see real adoption of AI across enterprises and domains like customer interactions, education, corporate learning, and robotics. Dr. Sanjay Gupta, Vice-Chancellor of World University of Design, said, "Advancements in AI, VR, and AR have …

Generative AI, data centres to define India’s tech industries in 2025
2 weeks ago

Generative AI, data centres to define India’s tech industries in 2025

Live Mint  

New Delhi: India’s technology sector is likely to see generative artificial intelligence and related data applications define client orders, financial growth and technical innovation in 2025. On 19 December, Accenture, the world’s largest technology services outsourcing and consultancy firm and a bellwether for India’s $300-billion IT services sector, disclosed $1.2 billion in net new generative AI deals with businesses worldwide. …

Generative AI Still Needs to Prove Its Usefulness
2 weeks, 5 days ago

Generative AI Still Needs to Prove Its Usefulness

Wired  

Generative AI took the world by storm in November 2022, with the release of OpenAI’s service ChatGPT. There is just one thing: Generative AI doesn’t actually work that well, and maybe it never will. Fundamentally, the engine of generative AI is fill-in-the-blanks, or what I like to call “autocomplete on steroids.” Such systems are great at predicting what might sound …

Google trimmed 10% of management roles in its yearlong push for efficiency, CEO Sundar Pichai
2 weeks, 5 days ago

Google trimmed 10% of management roles in its yearlong push for efficiency, CEO Sundar Pichai

Live Mint  

Google has cut manager and VP roles by 10% in its yearlong push for efficiency, CEO Sundar Pichai said in an internal an all-hands meeting. Pichai said the efficiency push included a 10% reduction in managers, directors, and vice presidents, one of the above mentioned persons said. Some of the jobs in the 10 per cent figure were transitioned to …

Accenture ushers in holiday season with $1.2 billion in Gen AI orders
2 weeks, 6 days ago

Accenture ushers in holiday season with $1.2 billion in Gen AI orders

Live Mint  

Accenture Plc, the world’s largest software services company, secured $1.2 billion in generative AI bookings in the quarter-ended November 2024, bringing its total orders in the segment to $4.2 billion since September 2023. Accenture, which follows a September-August financial year, was the first software services company to state Gen AI deal value in June last year when it won $100 …

AI is not “artificial” intelligence, it’s human intelligence
3 weeks ago

AI is not “artificial” intelligence, it’s human intelligence

The Independent  

Ingram Micro is a Business Reporter client Business Reporter: Ingram Micro Film 1 There is a certain amount of fear and anxiety about the emergence of AI and gen AI. Enterprises know they need to competitively embrace AI and its many benefits, including working to streamline operations, enhance productivity and drive revenue through intelligent automation and analysis at scale. Remember, …

GenAI may pile pricing pressure on customer support and maintenance work of IT services companies
4 weeks, 2 days ago

GenAI may pile pricing pressure on customer support and maintenance work of IT services companies

Live Mint  

Generative AI that stormed the technology world with the launch of ChatGPT two years ago may be about to make its mark on India's $254 billion IT services industry. The industry will see pricing pressure beginning next year as contracts heavy on coding and phone support come up for renewal, multiple analysts and industry executives said. The analysis, the first …

‘GenAI, AI agents will be a defining force despite limitations’
1 month ago

‘GenAI, AI agents will be a defining force despite limitations’

Live Mint  

Generative artificial intelligence and AI agentic systems are evolving, with businesses moving beyond just the testing stage to exploring their potential for transforming operations across the enterprise, say senior executives of Automation Anywhere. "The pressure and opportunity to capitalise AI to create a competitive advantage is very intense," Ankur Kothari, the company's co-founder and chief operating officer, said in a …

Generative AI product user base in China reaches 230 mln
1 month, 1 week ago

Generative AI product user base in China reaches 230 mln

China Daily  

A participant visits the exhibition booth of China Mobile at the 2024 Artificial Intelligence for Good Global Summit in Geneva, Switzerland, May 30, 2024. BEIJING -- The user base of generative artificial intelligence products in China had reached 230 million by June 2024, highlighting the country's widespread adoption of generative AI-driven upgrades across various industries, a report released Saturday stated. …

SAP confident of new job creation by AI
2 months ago

SAP confident of new job creation by AI

Live Mint  

German software-maker SAP SE is confident that artificial intelligence will create new jobs even as the rise of the new technology casts a shadow on jobs done by humans. The SAP board’s buoyant remarks on AI contrast with those of Google-parent Alphabet Inc’s chief executive Sundar Pichai, whose comments in the company’s post-earnings conference call with analysts put alarm bells …

Chinese market enthusiastic about emerging technologies
3 months, 1 week ago

Chinese market enthusiastic about emerging technologies

China Daily  

Visitors check out Chinese tech company iFlytek's large language model during the 2024 World Artificial Intelligence Conference in Shanghai in July. According to a recent Vodafone Business report, 65 percent of surveyed Chinese companies firmly believe that the application of new technologies can help them overcome business challenges, exhibiting a stronger confidence in emerging technologies compared with other markets in …

Accenture unveils $4 billion share buyback, lifts 2025 revenue guidance by 3-6% on AI-led order boom
3 months, 1 week ago

Accenture unveils $4 billion share buyback, lifts 2025 revenue guidance by 3-6% on AI-led order boom

Live Mint  

Accenture unveiled a $4.0 billion share buyback and reported better-than-expected fourth-quarter revenue driven by a high demand from companies looking to adopt generative artificial intelligence technology. Accenture hiked its annual revenue growth forecast to 3-6 per cent for 2025 after improving macroeconomic indicators and the US Federal Reserve's latest supersized interest rate cut. The Dublin-based company reported fourth-quarter revenue of …

Today’s top tech news: Apple, Nvidia expected to join OpenAI funding; Nvidia’s forecast dampens AI enthusiasm; Character.AI lays off 5% staff
4 months, 1 week ago

Today’s top tech news: Apple, Nvidia expected to join OpenAI funding; Nvidia’s forecast dampens AI enthusiasm; Character.AI lays off 5% staff

The Hindu  

Apple, Nvidia expected to join OpenAI funding Apple and Nvidia are in talks to invest in OpenAI as part of a new fundraising round that would value the ChatGPT maker above $100 billion, according to media reports on Thursday. OpenAI has become increasingly important to Apple’s artificial intelligence strategy, with the iPhone maker bringing the AI firm’s chatbot, ChatGPT, to …

This Tech Company Says It Will Never Bring AI Features Into Its Products: Why It Matters
4 months, 2 weeks ago

This Tech Company Says It Will Never Bring AI Features Into Its Products: Why It Matters

News 18  

Every major tech company is busy integrating artificial intelligence features into their products. The update has come directly from the company’s CEO this week, who said, “We’re not going to be introducing any generative AI into our products,” which will come as a big surprise and relief to the creative audience the brand caters to. This is a big shift …

More Than 60% of Companies Worldwide Don’t Have Policies On Gen AI Usage: Report
4 months, 3 weeks ago

More Than 60% of Companies Worldwide Don’t Have Policies On Gen AI Usage: Report

News 18  

Despite the quick adoption of Generative Artificial Intelligence across industries, nearly 60% of the companies operating in procurement lack specific policies on Gen AI usage, according to a new report. A survey conducted by Zycus-Procurement Tactics highlighted the state of Gen AI in procurement and also showed that 69.8% of the respondents do not use Gen AI-based software in their …

China wrestles with ‘quantity over quality’ in generative AI patents
4 months, 4 weeks ago

China wrestles with ‘quantity over quality’ in generative AI patents

Al Jazeera  

China has filed for more patents than any other country, but US export controls are not its only hurdle. In July, the UN’s intellectual property agency reported that China had filed more than 38,000 generative AI patents over the past decade, more than all other countries combined. The latest AI boom started with Google’s development of the groundbreaking “transformer” in …

Global PC market surges to 62.5 million units as AI boom approaches
5 months, 3 weeks ago

Global PC market surges to 62.5 million units as AI boom approaches

India TV News  

Global PC shipments have witnessed a growth of 3.1 per cent in the second quarter of the year 2024, to reach 62.5 million PC device units, the second consecutive quarterly growth in shipments. According to the report, AI laptops will expand the AI PC market in H2 2024, driven especially by surging Windows on Arm AI devices at the end …

IBM to set up GenAI innovation centre in Kochi
5 months, 4 weeks ago

IBM to set up GenAI innovation centre in Kochi

The Hindu  

Tech major IBM has announced the launch of its GenAI Innovation Centre in Kochi which will allow enterprises, start-ups, and partners to explore, experience, and build generative AI technology. To address this challenge, the GenAI Innovation Centre will provide organisations with access to IBM experts and technologies designed to help them build, scale, and accelerate the adoption of enterprise-grade AI. …

China Leads GenAI Adoption, Significantly Higher Than US: Survey
5 months, 4 weeks ago

China Leads GenAI Adoption, Significantly Higher Than US: Survey

ABP News  

China is at the forefront of adopting generative AI technology, according to a recent survey by US AI and analytics software company SAS and Coleman Parkes Research. A recent report from the United Nations' World Intellectual Property Organization further illustrates China's leadership in the field, showing that the country filed over 38,000 generative AI patents between 2014 and 2023. China's …

China leads the world in adoption of generative AI, survey shows
5 months, 4 weeks ago

China leads the world in adoption of generative AI, survey shows

The Hindu  

China is leading the world in adopting generative AI, a new survey shows, the latest sign the country is making strides in the technology that gained global attention after U.S.-based OpenAI's ChatGPT launched in late 2022. In a survey of 1,600 decision-makers in industries worldwide by U.S. AI and analytics software company SAS and Coleman Parkes Research, 83% of Chinese …

GCCs are tapping Gen AI to unlock new growth frontiers
6 months ago

GCCs are tapping Gen AI to unlock new growth frontiers

Hindustan Times  

‘Global Capability Centres are specialised offices set up by multinational companies in different countries to tap into local talent for various business functions such as information technology and research and development, marketing and legal services. AI REUTERS/Aly Song/ {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Through this evolution, GCCs are not only enhancing operational capabilities but also spearheading technological transformation and accelerated innovation …

Gen AI has enormous potential for good: Infosys chairman Nandan Nilekani
6 months, 1 week ago

Gen AI has enormous potential for good: Infosys chairman Nandan Nilekani

New Indian Express  

BENGALURU: Generative AI has enormous potential for good when advanced within the guardrails of responsibility, Infosys Chairman Nandan Nilekani said. Addressing shareholders at Infosys’ 43rd Annual General Meeting on Wednesday, Nilekani said, “As we look at the larger business environment, we are now into the second year of the generative AI revolution, and the initial AI doomerism has quietened down.” …

With more use cases of GenAI, a thousand flowers will bloom: Nandan Nilekan
6 months, 1 week ago

With more use cases of GenAI, a thousand flowers will bloom: Nandan Nilekan

The Hindu  

Infosys is now into the second year of the generative artificial intelligence revolution and the initial AI ‘doomerism’ has quietened down, said Infosys Chairman Nandan Nilekani on Wednesday. Addressing shareholders at the 43rd Annual General Meeting of Infosys, he said, people have accepted AI like any other general-purpose technology be it electricity, nuclear energy, the Internet or even a discovery …

Gen AI is the next wave of tech: Virtusa CTO
6 months, 2 weeks ago

Gen AI is the next wave of tech: Virtusa CTO

New Indian Express  

Virtusa Corporation has launched Virtusa Helio, which helps organisations leverage GenAI effectively in their digital transformation initiatives. In an interaction with this newspaper, Ram Meenakshisundaram, chief technology officer at Virtusa Corporation, said Virtusa Helio is a brand for GenAI offerings and services and focuses on practical applications, aiming to deliver real-world solutions that generate tangible business benefits. Virtusa’s research reveals …

China to see robust growth in AI PC shipments
6 months, 3 weeks ago

China to see robust growth in AI PC shipments

China Daily  

Employees run tests on personal computers at Lenovo's LCFC factory in Hefei, Anhui province, in July. According to a report released by market research company International Data Corp, China's PC market will likely maintain steady growth momentum in the next five years, with AI-powered PCs estimated to take up 85 percent of the overall PC market share in China in …

China to see robust growth in AI PC shipments
6 months, 3 weeks ago

China to see robust growth in AI PC shipments

China Daily  

Employees run tests on personal computers at Lenovo's LCFC factory in Hefei, Anhui province, in July. According to a report released by market research company International Data Corp, China's PC market will likely maintain steady growth momentum in the next five years, with AI-powered PCs estimated to take up 85 percent of the overall PC market share in China in …

China to see robust growth in AI PC shipments
6 months, 3 weeks ago

China to see robust growth in AI PC shipments

China Daily  

By Fan Feifei | China Daily | Updated: 2024-06-12 09:08 Employees run tests on personal computers at Lenovo's LCFC factory in Hefei, Anhui province, in July. According to a report released by market research company International Data Corp, China's PC market will likely maintain steady growth momentum in the next five years, with AI-powered PCs estimated to take up 85 …

China to see robust growth in AI PC shipments
6 months, 3 weeks ago

China to see robust growth in AI PC shipments

China Daily  

Employees run tests on personal computers at Lenovo's LCFC factory in Hefei, Anhui province, in July. According to a report released by market research company International Data Corp, China's PC market will likely maintain steady growth momentum in the next five years, with AI-powered PCs estimated to take up 85 percent of the overall PC market share in China in …

TCS launches Gen AI aggregation platform WisdomNext
7 months ago

TCS launches Gen AI aggregation platform WisdomNext

New Indian Express  

TCS’ AI for Business Study found that while business executives are generally positive about the impact of AI, they are less certain about the path to transformation. TCS AI WisdomNext helps businesses choose the right models and simplify the design of new business solutions using GenAI tools. At the company's launch event, executives said already many customers are already leveraging …

TCS chairman says AI empowers employees, boosts their productivity
7 months, 1 week ago

TCS chairman says AI empowers employees, boosts their productivity

New Indian Express  

BENGALURU: Artificial Intelligence will empower every employee to perform at a higher level or productivity, Tata Sons chairman N Chandrasekaran said at the group’s IT services arm TCS’ 29th Annual General Meeting held on Friday. Gen AI will not only improve productivity, but also create impact we hitherto have not seen or imagined,” he added. “In the Tata Group, we …

Global AI Chips revenue will grow 33% in 2024: Gartner
7 months, 1 week ago

Global AI Chips revenue will grow 33% in 2024: Gartner

The Hindu  

Revenue from artificial intelligence semiconductors globally is expected to total $71 billion in 2024, a rise of 33% from 2023, according to the latest forecast by Gartner, Inc. “Today, generative AI is fueling demand for high-performance AI chips in data centres,” said Alan Priestley, VP Analyst at Gartner. “In 2024, the value of AI accelerators used in servers, which offload …

Insider Q&A: CIA’s chief technologist’s cautious embrace of generative AI
7 months, 2 weeks ago

Insider Q&A: CIA’s chief technologist’s cautious embrace of generative AI

Associated Press  

Knowledge advantage can save lives, win wars and avert disaster. A: When these generative AI systems “hallucinate,” they can sometimes behave like your drunk friend at a bar who can say something that pushes you outside your normal conceptual boundary and sparks out-of-the box thinking. Q: The only current use of a large-language model at enterprise scale I’m aware of …

Over 100 million humans globally will engage robocolleagues by 2026: Gartner
7 months, 3 weeks ago

Over 100 million humans globally will engage robocolleagues by 2026: Gartner

The Hindu  

Over 100 million humans will globally engage robocolleagues to contribute to enterprise work by 2026, forecast Gartner, U.S.-based management consulting and data research firm. According to Gartner Market Databook 2024 released by the firm, by 2025, generative AI will account for 10% of all data produced, up from less than 1% today. According to Gartner Market Databook 2024 made available …

Gen AI adoption happening faster than PCs, smartphones: Oracle
7 months, 4 weeks ago

Gen AI adoption happening faster than PCs, smartphones: Oracle

The Hindu  

Adoption of Generative AI is happening at a faster pace than smartphones or PCs, said Oracle, a tech firm based in Austin. “’If one compares the first four years of many recent technologies, it is evident that adoption of Gen AI is happening at a faster pace than smartphones or PCs,” said Chris Chelliah, senior vice president, Technology and Customer …

BCG study shows 70% users excited about GenAI at work, but 43% positive about its impact on daily life
8 months, 1 week ago

BCG study shows 70% users excited about GenAI at work, but 43% positive about its impact on daily life

The Hindu  

A study published on April 29 by the Boston Consulting Group titled ‘Consumers Know More About AI than Business Leaders Think,’ has shared that consumer understanding and enthusiasm around artificial intelligence is higher than expected. Based on a survey conducted across 21 countries and 21,000 respondents, the research also answered questions around the usage of AI in the workplace. “While …

GenAI-equipped smartphone shipments expected to surge by 2027: Report
8 months, 3 weeks ago

GenAI-equipped smartphone shipments expected to surge by 2027: Report

India TV News  

Generative artificial intelligence - which is capable of smartphone shipments will rpeortedly reach 11 per cent by 2024 and 43 per cent by 2027 to pass 550 million units in 2027 with 4x growth - a new report stated. Tarun Pathak, the Research Director said, "We expect Samsung to lead GenAI smartphone OEM rankings in 2024. As per the Research …

Crystal ball review: AI has evolved only partly as predicted a quarter ago
8 months, 3 weeks ago

Crystal ball review: AI has evolved only partly as predicted a quarter ago

Live Mint  

Even as humanity frets about all the jobs AI will impact, one profession clearly under threat is that of predicting the future. With the year’s first frenzied quarter having drawn to a close, here it is: Tech wars would rage: The AI race would accelerate, I said, with the Microsoft-OpenAI alliance in fierce contest with a resurgent Google. AI will …

Big Tech in ‘underground’ race to license archives that will train Artificial Intelligence
9 months ago

Big Tech in ‘underground’ race to license archives that will train Artificial Intelligence

The Hindu  

At its peak in the early 2000s, Photobucket was the world’s top image-hosting site. CEO Ted Leonard, who runs the 40-strong company out of Edwards, Colorado, said he is in talks with multiple tech companies to license Photobucket’s 13 billion photos and videos to be used to train generative AI models that can produce new content in response to text …

’AI not understanding the art form it replicates, a key concern for regulators’
9 months, 1 week ago

’AI not understanding the art form it replicates, a key concern for regulators’

Live Mint  

As artificial intelligence gains prominence across various businesses, its rapid expansion has sparked concerns among artists about the potential for the technology to encroach upon their creative works. He added that it would come down eventually because GenAI was a “solution looking for a problem.” Harshjit Sethi, managing director of venture capital firm Peak XV, emphasized the necessity of integrating …

India’s AI market seen touching $17 billion by 2027: Report
10 months, 2 weeks ago

India’s AI market seen touching $17 billion by 2027: Report

The Hindu  

February 21, 2024 10:16 am | Updated 12:24 pm IST - MUMBAI India’s artificial intelligence market is projected to touch $17 billion by 2027, growing at an annualised rate of 25-35% between 2024 and 2027, IT industry body Nasscom and consulting firm BCG said on Tuesday, citing a joint report studying AI-powered tech in the country. The growth is seen …

India's AI market to reach USD 17 billion by 2027: Nasscom
10 months, 2 weeks ago

India's AI market to reach USD 17 billion by 2027: Nasscom

India TV News  

India’s artificial intelligence market is booming, and it is likely to grow at a 25 per cent compound annual growth rate to reach USD 17 billion by 2027, with similar growth in artificial intelligence investments. This growth has been fueled by multiple factors which include increasing enterprise tech spending, India’s growing AI talent base and a significant increase in AI …

AI created more jobs in web design, data science, digital marketing and more: IBM India
10 months, 2 weeks ago

AI created more jobs in web design, data science, digital marketing and more: IBM India

India TV News  

As generative artificial intelligence begins to threaten certain jobs, it was stated that AI will create more job options than it destroys. For example, take the Internet, when the Internet came right, and you had web publishing and all things that were web-enabled, it led to job decline in certain sectors like newspaper printing." However, he added that it also …

This is how GenAI will boost Indian financial services by 2030: Details
10 months, 2 weeks ago

This is how GenAI will boost Indian financial services by 2030: Details

India TV News  

Generative artificial intelligence is set to boost the Indian financial services and it is further expected to potentially add around USD 66 to USD 80 billion to the GVA by 2030. In the latest EY India report, GenAI's impact on the GVA within the Financial Services sector is most significant and has been ranging from 22 per cent to 26 …

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