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Tag: Technology (page 1 of 3)

Coursera opens 18% higher in NYSE debut; valuation hit 5 bn mark

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.

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SAIC Motor, Haier join hands to develop self-driving cars, smart homes

SAIC Motor and Haier Group have joined hands to develop self-driving cars and smart homes said reports. Both firms will also cooperate in areas like autonomous driving and lightweight-material development and create a fund to invest in intelligent manufacturing. The agreement, which is yet to be officially announced, also involves Haier investing an undisclosed amount in a SAIC unit that will develop autonomous driving tech.

Former Google CEO Eric Schmidt donates $150 mn for research in biology, AI

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.

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India’s health services highest adopters of digital tech during a pandemic: EY

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.

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Bank boardrooms lack professional tech, digital experience: Accenture

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.

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Accenture spends $1bn every year on reskilling employees

Accenture is spending over $1bn every year on reskilling and training employees for professional development said CEO Julie Sweet. She also added that they were teaming up with US consumer electronics retailer Best Buy, which is creating over 1,000 new tech jobs, to make sure that about 30% of them are diverse. Accenture has increased training hours by 6%, reduced training cost by 11% to $866 mn. It has trained over 70k people in skills required by clients.

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China’s official newspaper demand tougher regulations for algorithms use

China’s state-owned newspaper the People’s Daily said that country should protect internet users from breaches of privacy and attempt to steer web traffic by making strict regulations on the use of algorithms. The newspaper in an editorial said that  Algorithms can help reduce costs by matching user needs to services, but some online platforms infringe consumer rights by “improper application of algorithms” to invade privacy and direct web use.

Top 4 IT firms plan to hire 91,000 freshers, higher than last year

The top four IT firms — TCS, Infosys, HCL Tech, Wipro — plan to hire 91,000 freshers for 2021-22 as the demand has sharply picked up. TCS will hire about 40,000 freshers, Infosys would hire 24,000 college graduates. HCL aims to hire 15,000 freshers in India and 1,500-2,000 people on-site. Infosys, recently, won a $3.2bn deal from German auto major Daimler. TCS locked a deal from Prudential Financial. Wipro signed German retailer Metro.

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Anarock Group acquires apartment management platform ApnaComplex

Real estate services firm Anarock has acquired a proptech entity NestAway’s society and apartment management platform, ApnaComplex for an undisclosed sum. Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital have exited the entity. ApnaComplex manages 6 lakh households across 80 Indian cities. It has modules for accounting, security, gate management, community engagement, facility management, etc.

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