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TWTW Weekly Wrap Up: 19-25 March
"Understanding the growth of Generative AI, its beneficial influence on organisations, and the path forward allows us to capitalise on its benefits while mitigating its risks for a brighter future." — Jagdish Mitra, Chief Strategy Officer & Head of Growth, Tech Mahindra
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Last Week’s Latest
- CodiumAI has come up with a solution that builds tests automatically using generative AI, and the 9-month-old company emerged from stealth with a USD 11 million seed investment.
- GitHub is announcing its Copilot X initiative, an extension of its work on its popular Copilot code completion tool.
- Mozilla.ai, the newly forged company’s mission isn’t to build just any AI — its mission is to build AI that’s open source and “trustworthy”.
- Nvidia and Quantum Machines, the Israeli startup, announced the launch of Nvidia DGX Quantum, which combines Nvidia’s Grace Hopper Superchip with Quantum Machines’ controller.
- Google just announced that the company is releasing its ChatGPT competitor Bard in the U.K. and U.S.
- Ola Electric kicks off USD 250-300 million fundraise plan; the company is expecting an up round that may see it valued at USD 6.5-7 billion.
- India plans to design, develop and deploy 6G network technologies that will offer ubiquitous and secure connectivity at an affordable cost by 2030.
- OpenAI has introduced its ChatGPT Plus subscription for Indian users. The company took its official Twitter account to make the announcement.
- PhonePe has raised another USD 200 million as part of an ongoing round, a move that has now helped it pull USD 650 million in recent weeks.
- French software firm OVHcloud has launched its first data center in India as it expands in the Asia-Pacific region aiming to capitalize on growing cloud adoption.
Focused Story Of The Week #1: EV – A 200-billion-dollar Opportunity For India By 2030
Ola Electric Mobility Pvt. proposes to invest Rs 76.1 billion in building what it claims will be the world's largest electric vehicle hub in order to localise the supply chain for cleaner transportation. The introduction of electric automobiles has transformed the Indian economy. EVs have transformed the way people commute and travel in India, opening up a new slew of economic potential for the country.
The EV market in India is expected to reach a remarkable USD 206 billion by 2030 as demand for EVs grows among both consumers and enterprises. The benefits of shifting to electric vehicles have already been evident in the Indian automobile industry. Because of the conversion to EVs, for example, the sector has witnessed a huge reduction in fuel costs and emissions. This has increased revenues for Indian automakers while also improving air quality in cities.
The Indian government has initiated a number of efforts to support the development of electric vehicles. This includes the National Electric Mobility Mission (NEMM), which seeks to establish a thriving environment for the promotion of EVs in India. This initiative involves both consumer and business incentives, as well as technical help for EV makers.
Electric vehicles have a visible impact on the Indian economy. It has not only increased economic opportunities for the country, but it has also helped to reduce air pollution, create jobs, and reduce the country's reliance on oil imports.
As the industry expands, there will undoubtedly be additional chances for businesses to benefit from the shift to electric mobility. Businesses can capitalise on the potential of this industry to earn profits and fuel the Indian economy's growth with the correct investments.
"EVs will have a revolutionary influence on the economy, from curbing pollution and creating new jobs to encouraging innovation and creating new markets."
Focused Story Of The Week #2: The Advancement Of Generative AI And Its Positive Impact On Industries
GPT-4 is OpenAI's most recent AI model, with human-level performance on a variety of professional and academic standards. It is a huge multimodal model capable of accepting image and text inputs and producing text outputs. It has the potential to change the way businesses work in a variety of ways, including customer service, content development and management, sales and marketing, business efficiency, and more.
It can be utilised in a variety of ways in business. It can aid in the automation of routine processes such as data input, freeing up time and resources for firms to focus on more productive work. More productivity results from faster work completion. Companies may process information more quickly and correctly, resulting in better decision-making and more effective operations, as well as helping to provide better customer service experiences. GPT-4 can assist firms in understanding consumer requirements and preferences and tailoring their products and services accordingly by analysing customer data and feedback.
GPT-4 can also be used to create and manage content. It is capable of producing high-quality content for businesses such as product descriptions, blog pieces, and social media postings. Businesses may save time and money while still delivering high-quality content. GPT-4 can also assist firms in better managing their content. GPT-4 can help businesses identify what content is resonating with their audience and what material needs to be improved by analysing consumer data and comments.
Overall, GPT-4 represents a significant advancement in AI technology and has the potential to have a significant impact on enterprises in the near future. Its possible uses span from automation to customer experience, making it an effective tool for any firm seeking to remain competitive in the digital age.
"Understanding the growth of Generative AI, its beneficial influence on organisations, and the path forward allows us to capitalise on its benefits while mitigating its risks for a brighter future."