With more than 5 million programmers, India is emerging as one of the largest pools of AI talent for startups and global businesses — at a time when AI talent is often in short supply. During an India tour last year, Nvidia Corp. CEO Jensen Huang said the country could be the largest exporter of AI expertise in the world.
Data center provider AdaniConneX Private Ltd. will use the money to fund its growth plans this year, with a five year tenor under discussion, according to people familiar with the matter, who asked not to be identified because the matter is private.
The moves come after Deloitte added 130,000 staffers this year. But in the midst of those hirings, though, the firm warned thousands of staffers in the US and UK that their jobs were at risk of becoming redundant after the company was forced to restructure certain areas of the business in response to a slowdown in demand.
The board has declined to elaborate on its reasoning, citing an ongoing independent investigation, but more details are surfacing around the decision-making.
Fraser touted Citigroup’s clients in 160 countries and jurisdictions and emphasised their dependence on trade and supply chains.
India may take up to two years to implement a more favorable cryptocurrency tax regime, according to the CEO of digital asset exchange WazirX. The nation's imposition of a 1% tax on crypto transactions has caused trading volumes to plummet. Indian exchanges have lost over 2 million users since the tax was announced, with investors moving to overseas platforms. Industry players are hopeful that India will eventually adopt a friendlier crypto policy, but no specific steps have been outlined.
Nvidia CEO Jensen Huang visited India on a business-focused trip, recognizing the country's potential as an alternative electronics manufacturing base and source of AI talent. India's subsidies to develop chip manufacturing infrastructure and its ambitions to boost electronics manufacturing align with Nvidia's goals.
Dixon Technologies India Ltd., a supplier for Xiaomi Inc., is set to open a large factory in New Delhi, as India urges Chinese tech firms to use local assembly partners. The factory, spread over 300,000 square feet, will mainly produce Xiaomi smartphones. This move comes as India pushes for localisation of manufacturing and distribution for Chinese companies. Xiaomi's previous suppliers in India, Foxconn and DBG Technology, are expected to lose business as a result.
Some three years after a series of trade disruptions, language-learning models and generative AI have come forward at a time when governments and companies are looking for such tools to manage the supply lines.
Alphabet, the parent company of Google, illegally dismissed contract workers as they were trying to form a union, alleges a complaint issued by the Alphabet Workers Union to the country's labour board. Over 70% of the proposed bargaining unit – including writers, graphic designers and launch coordinators who create Google content – were revealed to be losing their jobs by Accenture, the company employing them.
Infosys's stock fell 10% due to a cut to its annual sales forecast, raising concerns that companies will delay spending on technology for longer than expected. The company now expects revenue to grow 1-3.5% in FY21-24, compared to 4-7% it projected earlier. The broader industry, led by companies like Tata Consultancy Services and Infosys, is suffering from a hazy growth outlook as the Covid-era boom in outsourcing fades.
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