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TWTW Weekly Wrap Up: 18-24 December
India can play a significant role in space technology by tapping into a market worth $10 trillion by 2030
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Last Week’s Latest
- OpenAI open-sourced Point-E is a machine learning system that creates a 3D object given a text prompt.
- Global payments company Visa has shown its stronger, sustained interest in crypto on December 19th, releasing a paper outlining its plan of collaboration with the Ethereum network on automatic payments.
- Gate2Chain, a leading blockchain integration, and enablement company, has unveiled a package of real-world solutions for enterprise customers and governments.
- Dropbox announced that its acquired FormSwift, a cloud-based platform designed to help businesses build, edit, approve, share and print custom personalized documents.
- Altair, a computational science and artificial intelligence (AI) company, has invested $10 million in Xscape Photonics - a startup which developed patented technology for photonic chips for ultrahigh-bandwidth connections inside data centers and high-performance computing (HPC) systems.
- Scott Sports India rolled out its first Scott technology centre in Gurugram towards expanding the company’s presence and services in the north of India.
- Union External Affairs Minister S Jaishankar on Tuesday met Google and Alphabet CEO Sundar Pichai who is on a visit to India and discussed the digital transformation of the country.
- They also discussed global strategic developments.
- Ericsson India is all set to generate employment for 2k people as it plans to scale up production of 5G gears in India.
- Youtube Set to Enter the Indian Edtech Space With A New Service, To Take On Byju’s, Unacademy.
Focused story of the Week #1: Digital Transformation enhancing the world of sports
The world of sport has evolved over time, and the usage of technology is just one of the areas that has had an impact on numerous sports in the modern day. Sports Technology brings together the best of sports science and technology.
The global sports technology market was worth USD 12.17 billion in 2021 and is predicted to grow at a 19.6% CAGR from 2022 to 2030. The sports technology sector is predicted to grow significantly throughout the projection period, as the number of sports events and data-driven decision-making and operations become more popular. The demand for technology-based sports services is projected to be driven by a significant emphasis on audience interaction and the digital transformation of arenas/stadiums.
Coaching and management can benefit from artificial intelligence by monitoring players' health, fitness, and safety. On-field applications of digital analytics include controlling group individuals and performance, as well as detecting game patterns and player performance. AR and VR are being used at stadiums to improve fan and player experiences, improve sports broadcasting, enhance interactive advertising, and much more.
We will continue to see teams push boundaries and smash records as they find methods to automate procedures and produce more data-backed insights to unleash the potential of their athletes. While data and solutions cannot replace hard work, determination, and talent, they can assist teams and athletes in working smarter. And the true revolution in sports technology is only just getting started.
‘Technology is Making the Sporting World Safer, Fairer and More Engaging’
Focused Story of the Week #2: 2022 – The Year that was in Spacetech
As the year comes to a close, the spacetech industry has taken strides toward the future. This year has seen the launch of the Space Flight System and the return of the Orion spacecraft, as well as key technological achievements and iSpace's completely private lunar journey. On Earth, a handful of private startups were successful in launching their own missions. We even have an Indian startup that built their own launch station, which would help other space startups.
Private tourists travelling to space was unthinkable ten years ago. Four astronauts travelled to the International Space Station on Axiom Space's Ax-1 mission in 2022, and roughly 20 people entered suborbital space on Jeff Bezos' Blue Origin's New Shepard rocket. These figures are expected to rise further in 2023.
Going ahead, the emphasis will be on the number of smaller and medium-lift launch vehicles with a low cost. The ultimate goal is to make launches so cheap that smaller businesses may launch somewhat heavier payloads on their own, without the need for public support.
India can play a significant role in space technology by tapping into a market worth $10 trillion by 2030. Indian space programmes are significantly less expensive than their European and American counterparts, giving us a significant advantage in making space travel affordable and, more crucially, financially sustainable.
‘2022 was the foundation for spurred growth in the spacetech industry, allowing India to take major steps in the field of SpaceTech in the years ahead.’