Author: nripn

THE Reserve Bank of India (RBI) unveiled a slew of initiatives aimed at improving the financial ecosystem, promoting transparency and fostering innovation at the recent Monetary Policy Committee (MPC) meeting. Key announcements include the expansion of the FX-Retail Platform through tie-ups with Bharat Connect, use of AI platforms to combat fraud and a podcast to raise awareness of relevant information.Governor Shaktikanta Das announced these measures. Here’s a look at how the RBI aims to include technological innovation in the balance of economic stability.Expansion of the FX-Retail platformLaunched in 2019, the FX-Retail platform will now be linked to NPCI’s Bharat Connect…

Businesses have made the most progress piloting or using AI for financial planning (78%), followed closely by accounting (76%). Less than half of companies (45%) say they are testing or using AI for tax and operational purposes.While cloud technology remains the No. 1 priority for U.S. companies looking to improve their financial reporting, non-generative AI has moved to second place and is seeing rapid adoption.When it comes to financial reporting practices, progress is most rapid in the area of ​​cloud migration and cybersecurity, where approximately three-quarters of companies have reached intermediate or full implementation and are actively seeing results. New…

December 4, 2024December 6, 2024 A topic of interest in many fields revolves around the presence of artificial intelligence (AI). While many people wonder about the possibility of AI automating tasks, the list of unknowns continues to grow as this new technology evolves. Dan GreeneBill Short Professor of Finance to the Wilbur O. and Ann Powers College of Businessnoticed growing concern among students that AI could limit the number of jobs available when they enter the workforce. In response to this concern, Greene combined his research with teaching strategies to create an innovative class assignment. What does ChatGPT know…

CXOTtoday engaged in an exclusive interview with Deepraditya Datta, Founder, Venator Search Partners What trends are you currently seeing in the recruitment of CXOs and board members in the banking sector? How do these trends differ between traditional banks and FinTech companies?Recent trends are very much aligned with the digitalization of the sector.Before, we applied for a loan. Today you have a pre-approved loan based on analytics. The “Risk” function has been completely overhauled. Traditional skills are obsolete, for all practical purposes the core work will be done by AI, you won’t need a human.Likewise, a certain number of functions…

Indian Stock Market: The Indian stock market is expected to open on a cautious note on Wednesday, amid mixed signals from the global market.Asian markets saw mixed trading, while the U.S. stock market ended higher overnight as investors weighed comments from U.S. Federal Reserve officials for further guidance on the path of interest rates.On Tuesday, Indian stock indices ended the session cautiously flat, amid mixed global cues.THE Sensex fell 52.63 points, or 0.07 percent, to close at 73,953.31, while the Nifty 50 settled 27.05 points, or 0.12 percent, higher at 22,529.05 .“Despite FIIs and India Vix selling at high levels,…

By Wen-Yee Lee and Fanny Potkin TAIPEI/SINGAPORE (Reuters) – Taiwan Semiconductor Manufacturing Co is in talks with Nvidia Corp to produce its Blackwell artificial intelligence chips at the contract manufacturer’s new plant in Arizona, three sources familiar with the matter said. TSMC is already preparing to start production early next year, the sources said. Nvidia’s Blackwell chips, which the company unveiled in March, have until now been manufactured at TSMC’s facilities in Taiwan. The company has seen strong demand from customers involved in generative AI and accelerated computing for the chips, which it says are 30 times faster for tasks…

HANOI (Reuters) – Nvidia (NVDA) and the Vietnamese government will jointly establish an AI research and development center and an AI data center in the Southeast Asian country, under an agreement signed on Thursday. Nvidia also announced it had acquired healthcare startup VinBrain, a unit of Vietnamese conglomerate Vingroup, but did not provide the amount of the deal. Nvidia CEO Jensen Huang said during a visit to Hanoi a year ago that the artificial intelligence chipmaker wanted to expand partnerships with Vietnam’s biggest tech companies and help the country train talent to develop AI and digital infrastructure. In April, Vietnamese…

HAMPSHIRE, United Kingdom, November 12, 2024 (GLOBE NEWSWIRE) — A new study from Juniper Researchthe greatest experts in the fintech and payments market, has selected SteelEye as the future global leader in fintech in 2025. Juniper Research’s ranking of 100 fintech startups is based on an assessment of many different aspects, such as total capital raised, the breadth of their product portfolio, and the level of creativity and innovation employed by their technology offering. . This assessment also provides a ranking of fintech startups in their respective sub-industry, identifying future leaders in key high-growth areas. For more details, see the…

Metaplatforms (META, Financial) announced the start of construction on a colossal data center in Richland Parish, Louisiana, confirming that it would devote $10 billion to its development. The hyperscale facility will integrate large AI and digital infrastructure operations, and construction is expected to take place from December 2024 to 2030. The data center is designed to be energy intensive. To achieve its goal of being renewable, it will partner with Entergy Corporation, which provides energy to several states, including Louisiana. Meta’s expansion aligns with its broader sustainability goals: envisioning 1 to 4 GW of nuclear power by the early 2030s…

(Bloomberg) — Paytm’s revenue fell sharply for the second straight quarter, reflecting the Indian fintech company’s struggles to revitalize its bottom line after a regulatory crackdown on some of its most important businesses. Most read on Bloomberg The stock fell 7.8% on Tuesday after the company reported a 34% drop in sales to 16.6 billion rupees ($197 million). It also reported its first-ever net profit, although much of it came from a Rs 13.5 billion gain from the sale of its events ticketing business to internet peer Zomato Ltd . A profitable quarter doesn’t help ease Paytm’s long-term challenges. The…