Former Intel, Tesla chip executive Jim Keller had joined start-up Tenstorrent to create an AI chip. Keller would join a team competing against rivals such as Nvidia and Amazon in the AI market. Tenstorrent’s chips are designed to ignore redundant information and operate on the assumption that future software will involve programmers giving high-level directions while AI computers write much of the nitty-gritty code required to implement those human ideas.
The govt has invited bids to develop a chatbot or voice assistance apps to deliver e-gov services. The AI-based platform is expected to interact in multiple languages, analyse intent, collect and analyse data to give a personalised experience to users. The conversational app will be deployed on the UMANG platform, which hosts various apps that provide govt services to citizens. The chatbot should be able to turn speech into a text and text into speech.
Devang Bhatt, Analyst at ICICI Direct Research, in a note, said the digital tech market is expected to grow at 16% YoY over the next four years to reach $900 bn in FY25 from $490 bn in the Fy 21. Enterprises, in a subsequent manner, will see new-age tech like Artificial Intelligence, Augmented Reality, Virtual Reality, data analytics and Internet of Things to be developed around Cloud, leading to a multi-year tech spends.
RGI broke its AI model into phases to do away biases and cross-checked it in the end when humans take the final decision with the help of AI and data. PayPal focuses on human supervision during the first phases of learning where machine intelligence decisions were scrutinised for bias, inclusion, fairness, etc. PayU ensured that the models do not use any data which can creep biases of gender, religion, political belief, etc. in determining the credit line.
Reliance General Insurance is using AI to bring efficiency to claim settlement processes by reducing manual efforts, errors and eliminating every possible manual step. It has introduced ‘RAPID’, equipped with image analytics powered by Microsoft Azure Cognitive Services and Azure ML capabilities, to bring the settlement period down to less than an hour from 10- 12 days for over 60% of passenger vehicles claims to have peripheral damages.
APTransco has deployed artificial intelligence and machine learning models to forecast the next day’s electricity consumption and cover day-ahead electricity demand for every 15 min. This will help them to make decisions on demand and supply, grid management and minimise power purchase cost. APTransco, further, intends to develop more day-ahead forecast models for wind energy, solar energy, market prices, central generating stations surplus and frequency.
Infogain, Software engineering services, has acquired Absolutdata, an AI and advanced analytics firm, making it its third acquisition in the last 14 months. The financials were not disclosed. With the acquisition Infogain aims to help clients’ rising demand for digitalisation, employing strategy and experience, cloud transformation, and advanced analytics and AI services. After the acquisition over 300 Absolutdata staff in the US and India will move to Infogain.
Ernst & Young, in a statement, said it will hire 9,000 professionals across 2021 for tech-focused roles in India. The hiring will be done through member firms, including global delivery centres. The company plans to hire people having specialisation in STEM and emerging tech — AI, ML, cybersecurity and analytics. EY, at present, have around 50,000 people on its payroll across all its India units — 36% of which come from a STEM background.