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IndiaAI, Flipkart, Flying Car Taxi, Mobile Manufacturing, D2C Industry, Linkedin, Google etc.

Author

Vaishali Sharma
March 08, 2024

 India Embarks on a Rs 10,372-Crore Mission to Lead the Global AI Revolution

pic source: TimesNow

  • Approval of Rs 10,372-Crore Budget: The Union Cabinet has approved a significant budget for the India AI mission to advance AI technologies.

  • Public-Private Partnership: The mission aims to build computing infrastructure leveraging collaborations between the public and private sectors.

  • Development of AI Ecosystem: Focus on developing scalable AI computing facilities and indigenous AI models.

  • Boost to Deeptech AI Startups: Special emphasis on accelerating the growth of deeptech AI startups through financial and infrastructural support.

  • Responsible AI Initiatives: Commitment to implementing AI projects responsibly, including the development of indigenous tools and frameworks.

  • Education and Training Expansion: Increase AI-related courses and programs at undergraduate, masters, and PhD levels to build a skilled workforce.

IIT-Madras' Flying Taxi Aims for Urban Skies in Months

pic source: Business Standard

  • Development: The e200 flying taxi is designed to be compact for navigating tight spaces and flying over crowded areas, with a focus on short-distance, multiple trips before requiring battery recharge.

  • Safety Features: Emphasizes a multi-layered safety strategy with stringent adherence to international standards, featuring redundant systems, emergency parachutes, and inflatables for soft landing.

  • Regulatory Navigation: Professor Chakravarthy expresses confidence in navigating regulatory challenges with a strategic approach, aiming for phased expansion based on safety performance and regulatory compliance.

  • Affordability: The service aims to offer fares at double the rate of traditional ride-hailing services like Uber, making it an accessible option for time-saving urban travel.

 India's Rise to Global Mobile Manufacturing Dominance, a report by the India Cellular and Electronics Association (ICEA).

  • India is now the world's second-largest mobile phone manufacturer.

  • Produced 2.45 billion units worth Rs 4.1 lakh crore in the last decade.

  • Mobile sector transitioned to 97% self-sufficiency, reducing import dependency.

  • Mobile phone exports are expected to reach Rs 1.2 lakh crore in FY24.

  • Mobile phones are India's fifth-largest exported commodity.

  • Growth in electronics manufacturing is crucial for India's GDP goals.

A recent study by MMA India and Publicis Commerce shows that most D2C businesses are struggling to reach profitability.

  • Lack of Profitability: 80% of D2C businesses have not achieved profitability; 63% are not profitable at all.

  • Minority Profitable: Only 12% of D2C businesses report profitability.

  • Profitability Measurement: 25% of businesses don't track profitability, considering their integration within broader ecosystems.

  • E-commerce Growth: D2C is becoming a significant e-commerce channel, with 43% of 2022 e-commerce funding directed towards D2C businesses, surpassing marketplaces.

  • Profitability Challenges: High customer acquisition costs, unclear ROI, and operational complexities are major barriers to D2C profitability.

  • Keys to Success: Profitable D2C ventures focus on consumer insights, first-party data, brand affinity, and product innovation, potentially leading to an operating profit of around 8%.

Briefs, You Can’t Miss:

  1. Cabinet approves 4% DA increase for government employees.

  2. The Reserve Bank of India has urged card issuers to initiate measures to monitor the intended usage of funds by cardholders.

  3. HCLTech Partners with ServiceNow to Introduce Gen-AI Solution: A Collaborative Endeavor.

  4. India-US trade may reach a monumental $200 billion this year, as per Ambassador Garcett's statement.

  5. Sarvam AI to unveil its 1st commercial voice-to-voice endpoint tool with 10 Indian languages in next 6-12 months.

  6. Flipkart's plans emerge as quick-commerce firms expand into ecommerce by adding more categories.

  7. India promotes e-buses to reduce emissions and traffic. Ashok Leyland, Tata Motors, and Olectra Greentech to deploy e-buses.

  8. FADA President reported increased vehicle sales, with two-wheeler sales rising 13.25% and three-wheeler sales 23.88%. Factors driving growth included rural demand, premium model popularity, and strong entry-level segment performance.

  9. According to CareEdge Rating, In the fiscal year 2024, India's cut and polished diamond exports are expected to decrease to a five-year low.

  10. Bain & Company and HealthQuad predict India's healthcare innovation market may reach $60 billion by 2028. Pharma services and healthtech are expected to drive 80% of the growth.

  11. Ahead of Lok Sabha election, Government seeks deepfake removal from X and Meta.

World Briefs

  • Generative AI spending by enterprises is expected to hit $200 billion by 2030, transforming industries and streamlining operations, shows SaaSBoomi and McKinsey study.

  • LinkedIn has made a rare revelation by stating that premium subscriptions generate $1.7 billion in revenue.

  • Google has taken legal action against a former employee, alleging that the individual stole proprietary artificial intelligence (AI) technology and shared it with Chinese companies where the employee was employed.

AI Briefs

  • Google introduces a new feature for Gemini AI that allows users to customize its responses.

  • India's first AI teacher, Iris, joins the Kerala School.

  • HP's Bold AI Expansion: Get Ready for AI-Powered PCs, Printers, and More.