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Month: October 2024

News

Indians expect working along AI colleagues by 2050: Survey

Observenow Desk October 23, 2024

A recent study by BSI, a global business improvement and standards company, reveals growing public confidence in artificial intelligence (AI) in India. According to the research, 55% of respondents believe AI could take over aspects of their jobs, a significant jump from 37% in 2023. The study also highlights that 53% of Indians think AI could handle the more menial tasks in their roles, a sharp rise from just 10% last year. Moreover, 62% expect to be working alongside AI “colleagues” by 2050, the highest rate among the countries surveyed.

Despite this optimism, concerns about AI persist. Over 65% of Indian respondents believe there should be a standardized system for reporting inaccuracies in AI tools, while 61% express concerns about privacy when interacting with AI technologies. These insights are part of BSI’s report, *Innovating for our Future: AI, Quantum, and an All-Electric Connected Society*, which explores public perceptions of future technological advancements.

Indians are particularly optimistic about the future of technology, with 34% predicting the arrival of flying personal vehicles and 35% envisioning robot police officers. By 2055, 52% believe AI will match or surpass human capabilities, while 48% foresee fully autonomous vehicles becoming commonplace. Other expected innovations include anti-aging drugs (42%) and space-based solar power (50%).

Additionally, support for a fully connected, all-electric society is strong in India, with 89% backing this transition, despite concerns about data sharing. Many believe such a shift could improve services for those with specific care needs and enhance public transport reliability while reducing emissions.

However, while confidence in AI is growing, global awareness of advanced technologies like quantum computing remains low. Only 49% of respondents feel governments and experts are effectively communicating the opportunities and risks of supercomputing, and just 43% believe the benefits of quantum computing outweigh the risks. Concerns about increased technological dependence (38%) and environmental impacts (36%) persist globally.

Tags: AI couldartificial intelligence

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News

Pam Kaur Makes History, Appointed as HSBC’s First Female CFO

Observenow Desk

HSBC Holdings, a 160-year-old leader in global corporate and institutional banking, has appointed Pam Kaur as its new Chief Financial Officer (CFO), marking a historic milestone as she becomes the first woman to hold this position in the company’s history. Kaur succeeds Georges Elhedery, who moved into the CEO role earlier this year.

Pam Kaur, an internal candidate, has been with HSBC since April 2013, initially serving as the Group Head of Internal Audit. She has been viewed as a frontrunner for the CFO position since September, according to reports from Reuters.

Over her tenure, Kaur has held several critical roles, including Head of Wholesale Market and Credit Risk, and Chair of the enterprise-wide non-financial risk forum. In January 2020, she was appointed Group Chief Risk Officer, with compliance responsibilities added in June 2021. Currently, she is a Group Managing Director and a member of the Group Executive Committee.

A qualified Chartered Accountant, Kaur began her career in internal audit at Citibank after earning her CA designation from Ernst & Young. She has extensive experience in leadership positions across major financial institutions, including Deutsche Bank, the Royal Bank of Scotland, and Lloyds TSB.

Kaur has also worked closely with regulators and supervisory boards globally. Additionally, she serves as a non-executive Director for Abrdn plc and has previously held the same role at Centrica plc. Kaur holds an MBA in Finance and a Bachelor of Commerce (Hons) from Panjab University in India and is a Fellow of the Institute of Chartered Accountants in England and Wales.

Tags: HSBCPam Kaur

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Governance

ECI Appoints Ajay Kumar Singh as New DGP of Jharkhand Ahead of Assembly Polls

Observenow Desk

In a pivotal decision ahead of the upcoming Jharkhand state assembly elections, the Election Commission of India (ECI) has appointed Senior IPS Officer Ajay Kumar Singh as the new Director General of Police (DGP) for Jharkhand. Singh, a 1989-batch IPS officer, takes over from Anurag Gupta, who was dismissed from his role as Acting DGP following the ECI’s directives issued to the Jharkhand government on October 19.

The ECI mandated that Gupta’s duties be transferred to the senior-most officer within the DGP cadre and required compliance from the Hemant Soren government by 7 PM on October 19. Additionally, the government was instructed to provide a panel of senior IPS officers by 10 AM on October 21.

This leadership change comes in light of several complaints and investigations involving Anurag Gupta, including a 2018 case and a subsequent inquiry under the Prevention of Corruption Act, 1988, in 2021.

Prior to his new role as DGP, Ajay Kumar Singh held the position of Managing Director and Director General of the Anti-Corruption Bureau (ACB) in Jharkhand. With a law enforcement career spanning 32 years, Singh has served in various key roles, including Additional Director General (ADG) in the CID, Special Branch, and Railways. He has also been Superintendent of Police (SP) in multiple districts, including Hazaribagh and Dhanbad, as well as various cities in Bihar, such as Muzaffarpur, Lakhisarai, Purnia, and Munger.

Singh began his career in 1991 as an Assistant Superintendent of Police (ASP) in Ramgarh district, Jharkhand.

Tags: Ajay Kumar SinghAssembly PollsElection Commission of IndiaIPS Officer

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Governance

NVIDIA Teams Up with India to Develop Custom AI Chip, Positioning the Nation as a Key Player in the Global Market

Observenow Desk

NVIDIA is poised to collaborate with India to create a custom AI chip, leveraging the country’s burgeoning semiconductor design expertise and expanding tech sector. This partnership could establish India as a significant player in the AI chip industry.

The discussions for this collaboration reportedly commenced during a meeting earlier this year between NVIDIA CEO Jensen Huang and Indian Prime Minister Narendra Modi in the United States. India’s Electronics and Information Technology Minister, Ashwini Vaishnaw, confirmed that talks are still in the early phases, with the primary objective of developing an AI chip tailored to India’s specific technological and infrastructure needs.

A significant aspect of this partnership will involve integrating the AI chip into critical sectors within India. One potential application includes enhancing the security system of Indian Railways, known as Kavach, which aims to improve operational safety. Additionally, the chip could support Indian startups, enterprises, and government initiatives, aligning with India’s growing national AI mission. The government is currently evaluating the chip’s cost-effectiveness, benefits, and potential applications.

India accounts for nearly 19% of the global semiconductor design workforce, with many professionals working for international companies. NVIDIA’s collaboration aims to tap into this talent pool to create AI chips optimized for the Indian market. Institutions like the Centre for Development of Advanced Computing (C-DAC) and various leading private firms are expected to play crucial roles in customizing the AI chip to meet local needs.

Huang has lauded India’s potential in artificial intelligence, noting the country’s capacity for driving innovation in the field. Following his discussions with Modi, he highlighted that AI presents India with numerous opportunities for technological advancement and economic growth.

NVIDIA currently holds a market value of $3.39 trillion, making it the second most valuable company worldwide, following Apple. The company’s success is largely attributed to its leading graphics chips, vital for AI-driven advancements. By partnering with India, NVIDIA aims to develop AI chips that not only address domestic needs but also foster innovation across sectors such as transportation, security, and government technology.

This collaboration emphasizes India’s rising significance in the global AI landscape and NVIDIA’s commitment to expanding its footprint in emerging markets. As the discussions advance, the custom AI chip could become pivotal in driving advancements in key sectors, propelling India’s AI mission and reinforcing NVIDIA’s leadership in the global AI chip market.

Tags: artificial intelligenceNVIDIA

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News

Honeywell and Google Cloud Team Up to Transform Industrial Operations with AI Integration

Observenow Desk

Honeywell and Google Cloud have announced a strategic partnership aimed at enhancing industrial operations through the integration of artificial intelligence (AI).

The collaboration will link AI agents with industrial assets, people, and processes to foster safer and more autonomous operations. This initiative will combine the multimodal and natural language capabilities of Google Cloud’s Gemini on Vertex AI platform with Honeywell Forge, a leading Internet of Things (IoT) platform for industrial applications.

The partnership is expected to provide enterprise-wide, actionable insights that can help Honeywell’s industrial customers lower maintenance costs, boost operational productivity, and upskill their workforce. The first AI-driven solutions from this collaboration will be available to customers by 2025.

As the industrial sector grapples with labor and skills shortages due to the retirement of baby boomers, AI is seen as a key driver for growth rather than job elimination.

According to Honeywell’s 2024 Industrial AI Insights report, while 82% of industrial AI leaders consider their companies early adopters of AI, only 17% have fully launched their AI initiatives. The new AI-powered agents from this partnership are expected to accelerate AI adoption and automation across the sector.

Tags: artificial intelligenceGoogle CloudHoneywell

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Article

ObserveNow Media Concludes 3rd Super 40 Digital Native Summit & Awards, Ethical use of Gen AI takes centre stage

Siddharth Mala

ObserveNow Media successfully hosted the 3rd edition of the Super40 Digital Native Summit & Awards in Gurugram on 18th October 2024, themed “AI-Powered Transformation: The Digital Native Imperative.”

This mega summit brought together leading technology visionaries, industry pioneers, and innovative startups to delve into the transformative potential of AI and digital innovation. Designed to inspire change, the summit offered a day of insightful discussions, exceptional showcases, and never like before networking opportunities.

The summit featured over five sessions, more than 10 industry presentations, 40+ speakers, and attracted over 150 digital native leaders, highlighting its significant impact on shaping the industry’s future. Key partners included Niveus Solutions and Google Cloud as presenting partners, IBM as co-presenting partner, Fortinet and Ingram as cybersecurity partners, Spectra as an associate partner, and Pleasin Strides as the CSR partner.

Taniya Tikoo, Co-founder & Editor in chief, ObserveNow Media opened the stage for the by giving the welcome address by delving into the revolutions reshaping the digital native industry. Taniya stated “The world we are living in is now dominated by AI, which plays a significant role in Digital Transformation. India leads the digital payment space, but we must also focus on the ethical use of AI.”

The first panel discussion was held on “Generative AI: Revolutionising User Experiences” which was expertly moderated by Sunny Kapoor, Director -Technology Consulting, Ernst & Young LLP. Sunny set the tone of the panel by highlighting “”Innovation in generative AI has taken a fast pace in 2024. Organizations are progressing from demonstrations to rolling out POCs for solving real-life problems. Generative AI will have a significant impact on customer experience.” Rohit Sood, Advisory Data & AI Specialist, Technology, India and South Asia, IBM said “We’ve done 1000+ pilots across the globe, 70 of them in India. Out of those, 25 moved into production. Three key areas of learning emerged: multi-model AI (since a single foundation model can’t solve every problem), hybrid capability (including data security and deploying models behind firewalls), and the importance of responsible AI and ethics throughout the AI lifecycle.” Karan Aggarwal, CTO, DeHaat underscored “The biggest challenge in rural geographies, often ignored in the Indian ecosystem, is localization. A lot of AI and ML models depend on a knowledge base. Before we build intelligence, we need to build the foundation of knowledge.” Shakti Goel, Chief Architect and Data Scientist, Yatra highlighted “The usage of information from travel websites has transformed significantly for the betterment of both user and the company.” Ankit Aggarwal, Founder & CEO, Unstop emphasised “Generative AI should change the educational experience right from the start. When students enter college with no clear direction, GenAI can, over time, help them discover their interests and guide them toward the right career paths.” Nitin Jain, Co-founder & CBO, OfBusiness asserted “In the B2B space, it’s much harder to engage customers than in B2C, where the customer base is vast. Relying solely on AI for this might not be the best approach. However, chatbots do connect clients directly to customers, reducing the need for a salesperson” and Vipin Jain, Group CTO, CollegeDekho said “Generative AI can revolutionise every aspect of the student journey. It can now converse almost like a human being, making interactions more personalised and impactful.”

“What’s ‘digital native’ today? There’s no such thing anymore—everything is digital. But we are all guilty of sharing unnecessary information on social media, which can cause serious damage” said Jaspreet Singh, Partner, Grant Thornton Bharat LLP who moderated the second panel on “The Future of Digital Transformation and Cybersecurity: Mastering Strategies for the Decade Ahead.”

Suhan Shetty, Enterprise Architect – Infrastructure Services, Niveus Solutions, one of the panelist highlighted that “Two decades ago, India was focused on acquiring hardware and software. Today, our Prime Minister talks about cybersecurity, which shows just how much progress we’ve made.” Abhas Agarwal, Field Sales Representative, Google Cloud underscored “Many in India are still not immune to cybercrimes. Education and self-responsibility are crucial to addressing this issue.” Mohit Srivastava, CISO, Perfios emphasised “Cyberfrauds have also led to financial frauds, which are now prevalent issues. They can cause significant brand image damage.” Kush Kaushik, Co-Founder, Scrut Automation underscored “As we move toward digitalization in every aspect, cybersecurity becomes critical—not just to protect a brand’s image but the entire ecosystem. It’s high time we implement AI regulations in India.” Sandip Chhettri, Chief Executive Officer, TradeIndia highlighted “Startups often don’t invest in cybersecurity until they face a threat. This ignorance can prove costly.” Shiva Nand Singh, Director of Engineering, Moglix noted that “Think twice before granting permissions to apps on your mobile device. And stop using the same password everywhere.”

An Exclusive panel was held on “AI-Powered Platforms: The New Frontier for Start-Ups” and was moderated by Saurabh Kochhar, Founder, Meddo Wellness. Sushan Rungta, Chief Technology Officer, Absolute pointed out that “We need to educate people about technologies and their potential misuse. AI does make mistakes, and there will be consequences. The problem is that we don’t know how to properly adopt technology, so we need policies and strategies for it.” Tushar Bhatnagar, Co-Founder & CTO, vidBoard.ai said “AI has been a game-changer in personalization, especially for startups. If you have the right customer data, AI can utilize it effectively. But messy data will lead to inaccurate results, so data quality is key.” Akshit Tyagi, Co-Founder, Expedify highlighted “To keep pace with AI, thorough research is essential. Always think from the consumer’s perspective—what value will AI bring? Implement AI only if it’s necessary for your customers, otherwise, it’s just burning money.” Praveen Gupta, Co-Founder and CTO, WiJungle underscored “Cyberthreats can lead to bankruptcy. With AI, SaaS has emerged as a solution. The government needs to focus on regulatory frameworks.”

Engaging panel on “The Power Shift: Women Steering India’s Leadership Revolution” was held and was moderated by Taniya Tikoo. Taniya initiated the conversation by highlighting “There’s still a lot that needs to be done for startups led by women. The data on women led startups in India is not very impressive.” Amrita Sirohia, Co-founder, IND Money stated “There’s a gap in financial literacy among women, but nowadays, men are also showing interest. Still, women need a greater push to close this gap.” Tripti Tiwari, Founder, CloudTrains said “Financial independence is incredibly important for women for the betterment of our society.” Jharna Saha, Co-founder, Enlog underscored “Women adopt technology faster, especially when running a business. It’s a breakthrough for them, and technology is a big part of that.” Dipali Mathur Dayal, Founder, Super Smelly emphasised “While there’s growing awareness about sustainability, India is still a price-sensitive market. For the younger generation, making sustainable choices is crucial.” Shruti Kharbanda, Founder, Invincible Robo League said “STEM remains a male-dominated industry, with a lack of female role models. This sets the wrong example for young women. We need to bring more women into the spotlight.”

Another engaging panel on “AI 2.0: Innovating Beyond the Hype with Robust Cybersecurity Solutions” was moderated by Ravi Mathur, Co-Founder & CTO, Insurance Samadhan. “AI is something everyone is talking about, and many are building with it. People are eager to learn more” said Ravi. Dhruv Anand, Enterprise Sales, Google Cloud said “In 2023, many POCs were conducted by industries, but now those POCs have turned into pilots. Generative AI is now intervening positively to structure data and provide actionable results.” Atul Dubey, Regional Sales Manager, Fortinet highlighted “AI is hot and hyped right now. It helps ensure that no threats are missed.” Sahil Singla, VP Engineering, Infoedge noted that “It’s important not to over-spam consumers. Relevant communication is essential.” Sanjeev Singh, Head of Tech & Data, GensolEV underscored “AI helps reduce turnaround time by analyzing data quickly, allowing us to focus on more critical tasks.” Praveer Kochhar, CPO & Co-founder, Kogo Tech Labs said “Life is easier with large intelligent models but more challenging with smaller, offline ones. Enterprises won’t use publicly available AI on the cloud due to security concerns.” Deepak Gupta, Senior Executive, Vice President, CARS24 emphasised that “AI’s vision should always be aligned with business goals. For our clients, we’ve enabled AI chatbots that understand customer needs and provide the best solutions.” Nikhil Kumar Pathak, Co-founder & CTO, Brevistay pointed “AI is not new, but generative AI is. While chatbots reduce customer workload, they only address general queries. AI can further track and learn from these queries to improve its effectiveness.”

The final panel discussion for the day was held on “D2C Innovations in Digital Retail: Leveraging AI to Transform Customer Experiences” and was swiftly moderated by Abhay Batra, Co-founder & CFO, Clovia.

Abhay initiated the conversation by stating that” Consumer behavior drives dynamic pricing, and that can only be achieved with real-time data.” Shivam Maheshwari, Co-Founder & CTO, Goals101 said “You can analyze data, correlate different sets, create targeted audiences, and offer hyper-personalized campaigns. AI simplifies this process by providing reports on consumer spending patterns.” Anirudh Bhardwaj, CTO, Recur Club highlighted “While ethics and AI are discussed globally, we are still in the learning phase. It’s crucial to protect users’ privacy.” Ripunjay Chachan, Co-Founder, Wellversed underscored “User behavior on apps helps brands make things easier for both consumers and companies. AI and real-time data make this process seamless.” Shalabh Agarwal, CTO, Credflow mentioned that “AI is about dealing with data now, but in the future, AI will define how we use data.” Alok Paul, COO & Co-Founder, Berrylush concluded stating” In business, there are two parts: demand and supply. We work democratically. For small designs, we use predictive analysis to scale inventory. From the demand side, we communicate directly with consumers.”

The grand summit wrapped up with an awards ceremony celebrating the incredible digital native leaders shaping the industry.

Here are the award recipients along with their respective categories:

  • Deepanshu Manchanda, Co-Founder & CEO, Zappfresh – DSM Fresh Foods – D2C Founder of the Year
  • Ahmed Aftab Naqvi, CEO & Co-Founder, Gozoop & Sparknext – Young Entrepreneur with Outstanding Vision
  • Manish Lunia, Co-Founder, FlexiLoans – Transformative Co-founder Award
  • Suveer Bajaj, Cofounder & CEO, FoxyMoron – Digital Native Leader of the Year
  • Aseem Garg, CEO, DCDC Care – Changemakers in Social Entrepreneurship
  • Kruti Bharucha, Founder and Chief Executive Officer, Peepul – Founder with Exceptional Leadership
  • Dipali Mathur Dayal, Founder, Super Smelly – Women Founder with Exceptional Leadership
  • Sachin Saxena, CTO, Heads Up for Tails – Digital Native Leader of the Year
  • Paras Arora, Founder and Chief Executive Officer, Qdesq – Best B2B Startup
  • Amit Bagga, CEO, Daryaganj Hospitality – Innovative CEO of the Year
  • Shon Joseph, CTO, Loanframe – Best Technology Startup of the Year
  • Abhay Batra, Founder & CEO, Clovia – D2C Founder of the Year
  • Varun Verma, Co-Founder & CTO, Merapashu360 – D2C Brand with Best Social Impact
  • Jainesh Sinha, Co-founder, Gyandhan – D2C Social Impact
  • Anirudh Bhardwaj, CTO, Recur Club – Digital Native Leader of the Year
  • Ramanpreet Singh, Senior Vice President, Flyremit – Innovator in Customer Experience
  • Rampal Rao, Director of Engineering, Snapdeal – Visionary Leader in Digital Transformation
  • Ayush Gupta, CTO, Enlog – Visionary Leader in Digital Transformation
  • Akshay Kumar Sharma, Director-Technology, Medley India INC – Visionary Leader in Digital Transformation
  • Shakti Goel, Chief Architect and Data Scientist, Yatra – Best Use of AI
  • Abhit Sinha, Co-Founder, AI and Computer Vision – Head Technology, Orbo.ai – Visionary Leader in Digital Transformation
  • Rithish Kumar, Co-Founder, Pee Safe – D2C Brand of the Year
  • Ankit Aggarwal, Founder & CEO, Unstop – Best HR Tech Startup
  • Sahil Singla, VP Engineering, Infoedge – Innovator in Customer Experience
  • Saurabh Wadhwan, Co-Founder, Scalenut – Transformative Founder Award
  • Deepak Gupta, Senior Executive, Vice President, CARS24 – Digital Native Leader of the Year
  • Praveer Kochhar, CPO & Co-founder, Kogo AI – Innovative CEO of the Year
  • Ripunjay Chachan, Co-Founder, Wellversed – D2C Brand of the Year
  • Nikhil Kumar Pathak, CTO, Brevistay – Top Travel Startup
  • Vipin Jain, Group CTO, CollegeDekho – Visionary Leader in Digital Transformation
  • Mohit Srivastava, CISO, Perfios – Cybersecurity Leadership in Digital Transformation
  • Sandip Chhettri, Chief Executive Officer, TradeIndia – Pioneering Leadership in B2B Digital Transformation
  • Tushar Bhatnagar, Co-Founder & CTO, vidBoard.ai – Innovative CEO of the Year
  • Akshit Tyagi, Co-founder, Expedify – Excellence in Digital Marketing Innovation
  • Sanjeev Singh, Head of Tech & Data, GensolEV – Visionary Leader in GenAI

ObserveNow is gearing up for the 4th Edition of the Super 40 Digital Native Summit and Awards, set to take place in Bengaluru this December. Be part of this event and witness the transformative wave in action.

Tags: 3rd Super 40 Digital Native Summit & AwardsGenAIGoogle CloudIBMNiveus SolutionsSuper 40

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News

LTIMindtree launches ‘AI-Smart Underwriter’ Solution to Transform Insurance Underwriting

Observenow Desk

LTIMindtree has announced the launch of ‘AI-Smart Underwriter’ solution, developed in collaboration with ServiceNow. This cutting-edge platform aims to empower underwriters by facilitating data and AI-driven decision-making while enhancing efficiency through intelligent automation. The initiative is designed to improve experiences and deliver greater value for insurers.

As a Strategic Platform Build Partner, LTIMindtree’s certified AI-Smart Underwriting solution streamlines the insurance underwriting process by offering a unified view of risk and automating various tasks. Covering everything from submission intake to policy binding and renewals, the AI-Smart Underwriting platform allows underwriting teams to reduce manual workloads, enabling them to concentrate on critical business decisions related to risk selection, eligibility, and pricing.

Functioning as a central hub, the AI-Smart Underwriting platform provides underwriters with access to essential information, tools, and resources to assess risks and make informed decisions.

By integrating advanced data analytics, AI, and digital tools, this solution promises to revolutionize traditional underwriting practices, offering fast, accurate, and scalable services. It also facilitates effective collaboration among agents and equips underwriters with vital insights for quicker decision-making. The AI-Smart Underwriting solution will be available in the ServiceNow Store.

Tags: AI-Smart UnderwritingLTIMindtreeServiceNow

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Education

Manipal Academy of Higher Education (MAHE) Becomes India’s First University to Host IELTS Test Centre

Observenow Desk

Manipal Academy of Higher Education (MAHE) has reached a significant milestone by becoming the first university in India to establish an IELTS test centre. This achievement follows the signing of a memorandum of understanding between MAHE and IDP Education India Private Limited, based in New Delhi.

The new test centre, located on the MAHE campus, will provide students with convenient access to course modules, along with added benefits such as discounted memberships and support from trained faculty mentors. The centre will be hosted by the Department of Humanities and Management at the Manipal Institute of Technology (MIT), serving exclusively as a closed avenue for MAHE students. Registrations are now open for the inaugural IELTS paper-based test, scheduled to take place on November 7.

The MoU was formally signed on October 14, with Dr. Giridhar Kini, Registrar of MAHE, and Kishan Kumar Yadav, Area Manager for IELTS Operations (South India) at IDP Education India Pvt Ltd, present for the occasion.

The event was also attended by Dr. Anil Rana, Director of MIT Manipal; Dr. Anup Naha, Director of International Collaborations; and Dr. Yogesh Pai P, Head of the Department of Humanities and Management at MIT Manipal, along with other colleagues. Abhishek Swamy, Assistant Territory Manager for Karnataka at IDP Education India Pvt Ltd, was also in attendance.

This milestone underscores MAHE’s dedication to enhancing global education standards and supporting the holistic development of its students and staff. The collaboration between MAHE and IDP Education India Pvt Ltd is expected to create numerous opportunities for students and professionals in the region.

Tags: IELTS Test CentreManipal Academy of Higher Education

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Exclusive

AI Killing Jobs: PhonePe Cuts 60% of Customer Support Staff amid AI Advancements

Observenow Desk

PhonePe has significantly reduced its customer support workforce by 60% over the last five years, bringing the number of agents down from approximately 1,100 to 400. This shift is driven by the company’s integration of AI technologies and automation in customer support, aimed at delivering more efficient solutions.

This strategic transition reflects a broader trend within the fintech industry, where companies are increasingly adopting AI to streamline operations and cut costs. Automated systems are now handling common queries, which minimizes the necessity for human involvement.

PhonePe emphasizes that this approach enables its human resources to concentrate on more complex and personalized customer issues.

Additionally, PhonePe highlighted its commitment to job creation, stating that it has generated over 22,000 jobs across India. The company currently employs more than 1,500 top engineers dedicated to developing advanced technological solutions to enhance digital payment services.

Tags: AIPhonePe

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Education

India and Singapore Strengthen Educational Ties Through Ministerial Meetings

Observenow Desk

Union Minister for Education Dharmendra Pradhan engaged in talks with Singapore’s Prime Minister Lawrence Wong on Monday, aiming to enhance cooperation in education and research between the two nations. The discussions focused on expanding collaboration in school education, vocational training, and research, anchored around three key pillars: ‘Talent, Resources, and Markets.’

Pradhan underscored India’s view of Singapore as a “trusted knowledge partner,” particularly in fields such as deep technology, startups, and innovation. He acknowledged that the leadership of Prime Minister Narendra Modi and Prime Minister Wong has established a solid foundation for a broader partnership in critical and emerging sectors, aspiring to elevate the bilateral relationship to new heights.

Prior to meeting Wong, Pradhan spoke with Singapore’s Minister for Education, Chan Chun Sing, to explore avenues for enhancing educational collaboration. Their discussions included the internationalization of India’s education system, as per the National Education Policy (NEP) 2020, and proposals for overseas internship programs that would give Indian students practical experience with Singaporean companies.

A significant topic of conversation was the prospect of “twinning” schools between India and Singapore, aimed at strengthening cultural ties between students from both countries. Joint research initiatives in areas such as deep technology, advanced materials, and medical innovation were also highlighted as vital areas for cooperation. Minister Pradhan pointed out the potential for partnerships between Singapore’s National Institute of Education and India’s NCERT in curriculum development, pedagogy, and teacher training.

During his visit, Pradhan also met with Singapore’s Minister for Foreign Affairs, Vivian Balakrishnan, to further discuss deepening the India-Singapore Knowledge Partnership. In addition, he visited the National University of Singapore (NUS) and held discussions with its President, Prof. Tan Eng Chye, focusing on building academic collaborations between NUS and leading Indian institutions, particularly in healthcare, advanced materials, and sustainability.

Tags: Dharmendra PradhanLawrence WongNarendra ModiNCERT

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