HDFC said it plans to shift to a new digital platform instead of just scaling up the current systems. It is also moving its operations to the cloud and has added 50 new people as a part of its digital factory initiative. The bank denied any comments on official investments made in tech. The outages reported were non-repetitive and were not due to large volumes, the bank said. The focus will now be on upgrading It systems over the expansion of the bank.
Infosys, in FY21, added approximately 3,000 people in the United States, bringing the total to 30,938. However, in Europe, the overall number of people employed fell to 16,412, down from 17,671 the year before. Infosys has already surpassed its goal of hiring 10,000 Americans, which was set up in 2017. Infosys has opened technology and innovation centers in Indiana, North Carolina, and Connecticut in the last three years.
Roland Garros 2021 and Infosys will use new-age tech — AI, 3D, and cloud solutions — to reach out to viewers, players, coaches, journalists, and broadcasters amidst the spread of COVID-19. The technology will help fans to experience the thrill of watching the game from outside the court on the Roland-Garros app in 3D, commentary, and game insights. Infosys is also using the tech to dynamically resize game videos to publish on different social media platforms.
Coursera opened 18% above the IPO price in its NYSE debut in the USA on Wednesday valuing the e-learning platform at $5.08 bn. The stock opened at $39, higher than the IPO price of $33 per share. During the latest fundraising round in July 2020, Coursera was valued at $2.57 bn. The US-based firm on Tuesday priced 15.7 mn shares at the upper end of the $30 to $33 range it had announced, raising around $519 mn.
Former Google CEO Eric Schmidt and his wife, Wendy, have donated $150 mn to Massachusetts-based Broad Institute of MIT and Harvard to establish a “new era of biology” to curse diseases using a mix of data and life science studies. The donation will be used to build a new centre to bring together academia and industry to merge tech and biology for a healthier world. The institute also received an additional $150 mn contribution from the Broad Foundation.
India’s health and human services firms have had the highest adoptions of digital tech, during the pandemic, among the countries surveyed by EY and Imperial College of London. The survey said that 51% of Indians have increased the use of digital tech, since the outbreak. While 74% agreed that digitalisation has raised staff productivity. More than 2,000 global HHS professionals in India, Australia, Italy, UAE, the UK and the US participated in the survey.
Accenture, in a report, said that boardrooms of banks lack tech expertise and digital knowledge despite the rise in digitalisation over the past few years. The report, based on the analysis of the professional experience of 2,000 directors of 100 of the world’s largest banks by assets, revealed that only 10% of all board directors and 10% of the CEOs of banks have professional tech experience. Accenture recommends that 25% of banks’ board directors should have tech experience.