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Month: September 2024

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Mastercard Launches Global Payment Passkey Service in India, Enhancing Secure Online Checkout

Observenow Desk September 3, 2024

Mastercard has chosen India as the launchpad for its global Payment Passkey Service, aiming to revolutionize secure online checkouts for millions of shoppers. Announced at the Global Fintech Fest in Mumbai, this innovative service will be piloted in collaboration with major Indian payment aggregators like Juspay, Razorpay, and PayU, as well as online merchants such as bigbasket and prominent banks including Axis Bank.

The Payment Passkey Service, which utilizes device-based biometric authentication such as fingerprints and facial recognition, seeks to replace traditional passwords and OTPs, offering a faster, more secure way to complete transactions. This comes in response to a significant rise in online fraud, with a nearly 300% increase in cases reported in India over the past two years.

By integrating tokenization with biometric authentication, Mastercard ensures that consumers’ payment details are secure, protecting against fraud and scams. The service is designed to streamline online shopping by allowing users to authenticate payments directly from their devices, enhancing both convenience and security.

Mastercard’s Chief Product Officer, Jorn Lambert, highlighted the company’s commitment to advancing secure online checkout and driving a tokenized future. The initiative aligns with the Reserve Bank of India‘s objectives for a safer payment ecosystem.

After its initial launch in India, Mastercard plans to expand the Payment Passkey Service globally, making it available to more consumers and financial institutions in the coming months.

Tags: Global Payment PasskeyJorn LambertMastercard

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Exclusive

Salesforce CRM Document Generation Software Market to Soar with 10.6% CAGR, Reaching $2.5 Billion by 2032

Observenow Desk

The Salesforce CRM document generation software market is set to experience substantial growth, with a projected compound annual growth rate (CAGR) of 10.6% from 2022 to 2032. The market, which was valued at USD 893 million in 2022, is expected to reach USD 2.5 billion by 2032. This impressive expansion is driven by the growing demand for automated document generation, a trend that is expected to significantly influence market dynamics over the forecast period.

The rise in digitization and internet penetration in various sectors has added complexity to business operations, thereby opening up new opportunities for Salesforce CRM document generation software. Salesforce, in particular, is concentrating on enhancing the reliability, security, and appropriateness of its services to build consumer trust and drive growth, further contributing to the market’s expansion. Additionally, the integration of CRM and document management systems, particularly within large enterprises and SMEs, is a key factor boosting the market size.

Technological advancements, particularly in cloud management solutions, have played a crucial role in this growth. These solutions allow for the secure encryption, storage, and retrieval of client data from remote locations, significantly reducing documentation time and increasing demand for document creation across various corporate activities. Large enterprises continue to dominate the market share, reflecting the increasing importance of CRM documentation.

Regional markets are also expected to witness strong growth. The U.S. market is projected to reach USD 874.3 million by 2032, with a CAGR of 10.4%, while the UK and South Korean markets are expected to grow at CAGRs of 9.6% and 9%, respectively. China and Japan are also anticipated to see substantial growth, with their markets reaching USD 170.8 million and USD 146.9 million by 2032, respectively. The cloud-based segment, in particular, is forecasted to grow at a CAGR of 10.5%, while large enterprises in the application segment are growing at a CAGR of 10.0%.

The competitive landscape of the Salesforce CRM document generation software market is evolving, with growth in market share, adoption trends, and strategies employed by major players. The market report also includes detailed analyses of financial statements, product benchmarking, and SWOT analysis for key industry players, providing a comprehensive outlook on the future of the Salesforce CRM document generation software market.

Tags: CAGRSalesforceSalesforce CRM

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Governance

IAS Officer Amrit Lal Meena Appointed as Bihar’s New Chief Secretary

Observenow Desk September 2, 2024

In a significant administrative reshuffle, Amrit Lal Meena, a seasoned IAS officer of the 1989 batch from the Bihar cadre, has been appointed as the new Chief Secretary of Bihar. The appointment comes following the retirement of the current Chief Secretary, Brijesh Mehrotra, leaving the position vacant. The Appointments Committee of the Cabinet approved Meena’s repatriation to his parent cadre in an official order.

Meena brings a wealth of experience to his new role, having previously served as the Coal Secretary and Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry. His extensive career includes key roles as Joint Secretary in the Ministry of Food Processing Industries and the Ministry of Rural Development, as well as Principal Secretary/Additional Chief Secretary in Bihar’s Road Construction department. Additionally, he served as District Magistrate in five districts over a span of nine years.

An electrical engineering graduate with a Post Graduate Diploma in Public Policy and Management from IIM Bengaluru, Meena has managed various departments in the Bihar government, including Rural Development and Urban Development. As Coal Secretary, he played a crucial role in boosting coal production and reducing India’s reliance on imports. His appointment as Chief Secretary is expected to leverage his vast administrative expertise to address critical challenges in Bihar’s infrastructure, transportation, and mining sectors.

Tags: Amrit Lal MeenaIAS officerIIM Bengaluru

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News

Dell shares rise as AI server demand boosts results, forecasts

Observenow Desk

Dell Technologies shares jumped 4% on Friday following a surge in demand for its AI-powered servers, leading the company to raise its full-year earnings and revenue forecasts.

The tech giant, known for supplying servers and related infrastructure to enterprises, has strengthened its AI capabilities through a strategic partnership with Nvidia earlier this year. With Nvidia’s advanced technology, Dell is enticing mid-sized customers to upgrade to AI-enabled servers.

“Dell’s strong performance was solely driven by AI servers, while its storage and PC revenues missed expectations,” Bernstein analysts wrote in a note. They highlighted that around 80% to 90% of Dell’s server customers appear to be tier 2 cloud service providers, with new opportunities coming from competitive bids against Super Micro Computer.

Revenue from Dell’s Infrastructure Solutions Group, which includes server sales, grew 38% year-over-year in the second quarter. Demand for AI-optimized servers, including the flagship PowerEdge XE9680, rose 23% sequentially to $3.2 billion, according to Dell’s report on Thursday.

Dell’s AI-driven pipeline has now increased to between $11 billion and $13 billion, up from the $8 billion to $10 billion estimated in the first quarter.

For the quarter, Dell reported adjusted earnings of $1.89 per share and revenue of $25.03 billion, both surpassing LSEG’s estimates.

Following these results, at least three brokerages raised their price targets for Dell. The stock now has a median target price of $155, with 19 out of 22 analysts rating it a “buy” or higher, based on LSEG data.

Despite the recent rise, Dell shares, currently at $115, are still down 36% from their all-time high reached in May.

Tags: AI poweredDell TechnologiesSuper Micro Computer

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News

Powering the Future: Apple & Nvidia Eye Investment in OpenAI

Observenow Desk

Nvidia Corp., the world’s largest chipmaker, has been in talks to participate in a funding round for OpenAI that could value the artificial intelligence startup at over $100 billion, according to sources.

Apple Inc. and Microsoft Corp. have also been in discussions to join the funding though the discussions are confidential. Thrive Capital is expected to lead the round with an investment of around $1 billion earlier this week. Nvidia is considering an investment of about $100 million, according to two of the sources.

Should these discussions proceed, it would mean that the three most valuable tech giants—Apple, Microsoft, and Nvidia—are all backing OpenAI, the creator of the groundbreaking ChatGPT. Microsoft is already OpenAI’s largest investor, with a commitment of around $13 billion.

Representatives from Nvidia, Apple, Microsoft, OpenAI, and Thrive Capital all declined to comment.

The growing influence of Big Tech in the field of artificial intelligence has attracted increasing scrutiny, with regulators in both the EU and the US expressing concerns over Nvidia’s dominance in AI chips and Microsoft’s deep integration with OpenAI. Microsoft has tightly woven OpenAI’s technology into its Windows and Copilot AI platforms, betting on these capabilities to fuel future growth.

Apple also has a relationship with OpenAI. The iPhone maker is incorporating ChatGPT into its new AI suite, Apple Intelligence. Apple was also set to gain a board observer seat at OpenAI alongside Microsoft, but these plans were shelved in July.

Nvidia, on the other hand, provides essential infrastructure for developing and running AI tools like ChatGPT. It is the leading manufacturer of AI accelerators, with sales soaring over the past two years.

In its most recent quarterly report, Nvidia’s revenue more than doubled to $30 billion, and the company forecasted even higher sales for the current quarter, exceeding analysts’ expectations. Despite this strong performance, shares fell as investors had already anticipated exceptional results.

According to a memo from OpenAI’s Chief Financial Officer, Sarah Friar, the company is seeking new capital, though specific details were not provided. OpenAI has been in talks to raise funds at a valuation of $100 billion or more since at least December.

The funding would strengthen OpenAI, one of the world’s most valuable venture-backed startups. The tremendous success of ChatGPT has sparked a race among tech companies to integrate AI technology across their platforms and invest in other promising AI startups.

In her memo, Friar noted that the new funding would be used to acquire additional computing power and cover other operational expenses.

Tags: Appleartificial intelligenceMicrosoftNvidia CorpOpenAI

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News

Gmail for Android gets a Q&A feature powered by Gemini

Observenow Desk

Google has launched a new AI-powered feature, Gmail Q&A, now available to Android users subscribed to the Gemini service. This update represents a significant change in how Gmail users can interact with their email, introducing more sophisticated AI-driven capabilities within the app.

Gmail Q&A utilizes Google’s AI assistant, Gemini, to enable users to interact directly with the AI for managing their inbox. Users can ask Gemini various questions about their emails, such as finding specific details, displaying unread messages, retrieving emails from a particular sender, or summarizing emails on a specific topic. The feature is represented by a new black star icon for Gemini, located next to the search bar in the Gmail app. This addition aligns with Google’s broader strategy of moving from traditional search functionalities to more interactive AI-driven experiences.

To activate Gmail Q&A on Android, administrators must enable smart features and personalization settings via the Admin console, allowing them to turn on default personalization for all users. For individual users, the feature is accessible through the black Gemini star icon at the top right of the Gmail app or the “summarize this email” chip. Initially, Gmail Q&A focuses on helping users search for information within their inbox, with future updates planned to expand this capability to include Google Drive files.

The rollout of Gmail Q&A is occurring gradually across both Rapid Release and Scheduled Release domains, and users can expect the feature to be fully available within the next 15 days. The Gmail Q&A feature is available to Google Workspace customers with specific add-ons, including Gemini Business, Enterprise, Education, Education Premium, and Google One AI Premium. Currently, the feature is being introduced to Android users, with plans to expand to iOS users soon.

Tags: GeminiGmailGmail Q&AGoogle

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Exclusive

Preethi Pal Creates History with Second Paralympics Medal; Nishad Kumar Shines with Silver in Paris

Observenow Desk

Preethi Pal made history by becoming the first Indian woman track and field athlete to secure two Paralympic medals, earning a bronze in the 200m T35 category with a personal best of 30.01 seconds at the Paris Paralympics. Earlier, the 23-year-old had won another bronze in the 100m T35 category.

Preethi is now the second Indian woman to win two medals in a single Paralympics, following shooter Avani Lekhara’s success in Tokyo. China’s Zhou Xia took gold in the 200m event, setting a time of 28.15 seconds.

Meanwhile, Nishad Kumar, a 24-year-old from Himachal Pradesh, captured his second consecutive Paralympic silver in the men’s high jump T47 category with a season-best jump of 2.04m. He narrowly missed out on gold, which was claimed by American Townsend Roderick with a 2.12m jump.

Preethi’s journey has been one of perseverance, overcoming significant physical challenges to achieve her Paralympic success. Nishad’s path to glory has been equally inspiring, driven by a passion for sports that he inherited from his mother. Both athletes have solidified their status as leading figures in Indian para-athletics.

Tags: Nishad KumarParis ParalympicsPreethi Pal

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