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TCS announces to create global AI centre of excellence in France

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New Delhi, May 13 (IANS) Tata Consultancy Services (TCS) on Monday announced the creation of a Global Artificial Intelligence (AI) Centre of Excellence in Paris during the Choose France Summit.

Based at the new TCS PacePort in Paris, the centre will focus on the brain-machine interface, developing empathy in machines, and unleashing the creativity of AI, the company said.

“The new centre will focus on boosting human-centered AI capabilities for the banking & financial services (BFS), manufacturing, and consumer sectors, to start with,” Rammohan Gourneni, Country Head, TCS France, said in a statement.

“We will hire new talent and partner with universities to offer internships and projects to support the National AI Mission,” he added.

The new centre will join France’s growing AI ecosystem and tap into its deep talent base in design and engineering, to build advanced technologies in the space of human-centric AI.

According to the company, the centre will, initially, focus on areas such as brain-computer interface, building empathy in machines, and unleashing the power of AI in arts and culture.

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“Our new AI centre in Paris will focus on many of these areas, including the development of talent and leveraging the world-renowned culture that France has for design – reflected in its fashion, luxury sector and museums,” said Harrick Vin, Chief Technology Officer, TCS.

TCS has been making investments in France since starting operations in 1992. With the acquisition of TKS-Teknosoft in 2006, and of Alti in 2013, TCS significantly boosted its presence in the region.

–IANS

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India-US CEO Forum’s WG7 launch bilateral knowledge-sharing platform for MSMEs, startups

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New Delhi, May 27 (IANS) In a bid to help Micro, Small and Medium Enterprises (MSMEs) and startups integrate better in the global supply chain, the India-US CEO Forum’s Working Group 7 (WG7) on Monday launched the bilateral knowledge-sharing platform between India and the US.

The ‘Nihit Knowledge Platform’ will also boost jobs, said the forum on entrepreneurship, inclusive growth and promoting small businesses, in partnership with United Services Institute (USI) and CyberPeace Foundation.

The event also saw the launch of ‘Prakshepan’, a hackathon for MSMEs and startups with a prize pool and mentorship of over Rs 1 crore.

“The dialogue and the knowledge-sharing platform will enhance the bilateral relationship and unlock trade between India and the US, promoting inclusive growth by empowering startups and integrating MSMEs in the global supply chain and fostering a resilient, innovative, and inclusive economy,” said Subi Chaturvedi, Chief Corporate Affairs and Public Policy Officer, Global Senior Vice President (SVP), InMobi, and Sherpa WG7.

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The ‘Prakshepan’ hackathon will identify, mentor, and accelerate startups that contribute to enhancing the relationship between India and the US.

“This bilateral hackathon will focus on fostering innovation with a strong emphasis on women-led businesses, aiming for 50 per cemt female representation among participants”, said Chaturvedi.

With the aim of improving bilateral trade between India and the US, the forum brings together top businesses from both nations under the guidance of the Ministry of Commerce and the Department of Commerce from India and the US, respectively.

“I believe initiatives and dialogues like this will help foster a better relationship between the two nations, especially in trade and innovation, new and emerging future technologies and startups have a key role to play,” said Mahaveer Singhvi, Joint Secretary (new emerging and strategic technologies division), Ministry of External Affairs.

The event was organised by InMobi, Mastercard and Tata Sons and supported by CyberPeace Foundation, USI and USIBC.

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–IANS

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Build grounds for fair competition in AI-related industries: S. Korea's antitrust regulator

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Seoul, May 27 (IANS) South Korea’s antitrust regulator said on Monday it hosted a conference on artificial intelligence (AI) and competition policy with the Organization for Economic Cooperation and Development (OECD).

The conference, held in Seoul, invited experts to discuss the role of competition in the supply chain of generative AI platforms, according to the Fair Trade Commission (FTC).

Generative AI refers to technologies that create various types of content, including text, images and videos, by learning and analyzing data, reports Yonhap news agency.

“We need to build grounds for fair competition in AI-related industries, so that they maintain innovative growth while preventing unfair practices,” Han Ki-jeong, the chairperson of the FTC, said.

Frederic Jenny, chairman of the OECD’s competition committee, also noted that there needs to be balanced regulation to ensure fair competition in the market while promoting innovation.

The regulator noted the government will aim to roll out antitrust policies to address the rapidly changing trends in the generative AI sector.

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–IANS

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Fintech leaders hail PM Modi on India leading in UPI

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New Delhi, May 27 (IANS) Fintech leaders on Monday hailed Prime Minister Narendra Modi on India leading in unified payments interface (UPI), saying that the country’s fintech landscape is now a hotbed for innovation, reflecting the nation’s fearless spirit.

Reacting to PM Modi’s exclusive interaction with IANS, Razorpay COO Rahul Kothari, said, “Today, UPI has become the common and preferred mode of payment for customers”.

“The state of the new normal not only showcases the promising trajectory for India’s digital economy but also talks about the immense trust our citizens have put in digital payments,” Kothari added.

The Prime Minister said that driven by digital public infrastructure (DPI) models like UPI, the country is now leading the global fintech ecosystem and several countries are ready to embrace the ‘India Stack’ solutions to empower the masses.

The UPI platform processed 13,115 crore transactions in FY24, aggregating to nearly Rs 200 lakh crore in value, compared with 8,376 crore transactions worth Rs 139 lakh crore in FY23.

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Lokanath Panda, COO of BLS eServices told IANS that even in the remotest villages, small traders are investing in digital payments for their convenience and efficiency.

“The use of technology is enhancing transparency and fostering inclusivity. India’s UPI now performing a new responsibility that is uniting global partners with India,” he said.

India is home to more than 10,000 fintech companies working in diverse sectors and segments.

As per reports, the third largest globally, India’s fintech ecosystem is poised to reach nearly $70 billion in annual revenue by FY30.

–IANS

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India leading global fintech ecosystem thanks to UPI: PM Modi

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New Delhi, May 27 (IANS) Driven by digital public infrastructure (DPI) models like unified payments interface (UPI), the country is now leading the global fintech ecosystem and several countries are ready to embrace the ‘India Stack’ solutions to empower the masses, Prime Minister Narendra Modi told IANS on Monday.

In an exclusive interaction at his official residence in the national capital, PM Modi said when he kicked off the ‘Digital India’ movement, opposition parties made allegations that this was being done to serve the needs of the service providers.

“They could not understand how big this area is and the 21st century is a technology-driven century. Moreover, technology today is driven by artificial intelligence (AI),” PM Modi told IANS.

The digital revolution, driven by UPI and QR-code-based payments, has shown to the world that DPIs like UPI, Aadhaar, and DigiLocker can transform millions of lives.

The UPI platform processed 13,115 crore transactions in FY24, aggregating to nearly Rs 200 lakh crore in value, compared with 8,376 crore transactions worth Rs 139 lakh crore in FY23. The transactions via UPI are expected to breach 100 crore transactions per day by FY27.

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PM Modi told IANS that UPI has played a huge role in the world of fintech and due to this, “several countries are ready to embrace UPI because this is the era of fintech and India is now leading the fintech ecosystem”.

The third largest globally, India’s fintech ecosystem is poised to reach nearly $70 billion in annual revenue by FY30, according to reports. India is home to more than 10,000 fintech companies working in diverse sectors and segments.

Last month, UN General Assembly (UNGA) President Dennis Francis said India exemplifies how the digital revolution can be made accessible to millions and become “a fundamental driver of social transformation and progress”. Speaking at a conference on Digital Public Infrastructure (DPI) hosted by India’s UN mission, the UNGA President noted that in just seven years, India’s DPI model has achieved over 80 per cent financial inclusion for its citizens and now accounts for more than 60 per cent of all digital transactions worldwide.

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The G20 summit in New Delhi last year recognised the transformative power of DPI and following this, India took the initiative to establish a global repository for DPIs, currently housing over 55 DPIs from 16 countries. The country has pledged $200 million to a social impact fund that will accelerate DPI adoption worldwide, especially in developing countries.

–IANS

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India urgently needs stem cell donors to fight blood disorders, say experts

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New Delhi, May 27 (IANS) India is urgently in need of stem cell donors to fight blood cancer that kills over 70,000 lives every year, said experts on Monday ahead of World Blood Cancer Day.

World Blood Cancer Day is observed every year on May 28 to raise awareness about deadly cancer and other blood disorders, such as thalassemia and aplastic anaemia, which affect more than a lakh people in the country,

Although conventional methods like chemotherapy and radiation therapy are available, a blood stem cell transplant is the only hope for survival for many blood cancer patients.

The health experts noted that every 5 minutes, someone in India gets diagnosed with blood cancer. Yet, the country faces a severe shortage of blood stem cell donors.

“Besides being the thalassemia capital of the world, India also has a high prevalence of blood cancers. Stem cell transplants are often the only curative option for these conditions, but finding a compatible stem cell match is difficult, especially in a country as genetically diverse as India,” Dr Rahul Bhargava, Principal Director & Chief BMT, Fortis Memorial Research Institute, Gurugram, told IANS.

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“In India, someone is diagnosed with blood cancer or a severe blood disorder every five minutes. Despite the global registry having over 41 million donors, India has only about 0.6 million registered. Thousands of patients are in dire need of matching stem cell donors to undergo life-saving transplants. We need to expand our donor database significantly to provide these patients with a fighting chance,” added Patrick Paul, CEO of DKMS BMST Foundation India — a non-profit.

The experts also lamented the lack of awareness and misconceptions about the process of stem cell donation that leads to hesitancy to register as a donor.

“Increased awareness and participation in donor registries are crucial to meeting this life-saving need. In simple terms, stem cell therapy uses stem cells to repair damaged tissues or organs or even to replace them entirely. It is used to treat some types of blood cancers, such as leukaemia and lymphoma,” Dr Rahul said.

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The experts stated that matching for stem cell transplants is based on Human Leukocyte Antigen (HLA) characteristics, not just blood type. To become a potential stem cell donor, the criteria is to be a healthy adult aged between 18 and 55.

–IANS

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