Tech Industry, AI Law, Paytm Shares, Blinkit, PhonePe, AngelOne, Chinese AI, etc.

Author

Vaishali Sharma
April 06, 2024

Indian IT Giants to Dominate $20 Billion Deal Renewals in FY25 Amid Market Challenges

  • Global tech and ER&D firms face $20 billion in deal renewals for FY25.

  • Indian IT companies, like TCS and Infosys, likely to secure 51-53% of these deals.

  • Market challenges include economic slowdown, banking issues, and inflation.

  • Renewal negotiations are extending due to various market pressures.

  • Generative AI's impact is significant but has a gap in productivity expectations.

  • Upcoming fiscal trends: cost pressures, AI productivity, and competitive dynamics in the tech industry.

From Consultation to Legislation: India’s Strategy for AI and Copyright Protection

  • New AI Law Consideration: The Indian government plans to introduce a law focusing on AI to protect news publishers and content creators' rights, ensuring fair revenue sharing.

  • Balanced and Strong Legislation: The proposed law aims to balance rights protection and innovation, possibly integrating with the Digital India Bill.

  • Global Context and Industry Consultation: The move follows international copyright disputes and consultations with the tech industry, emphasizing the need for legislative regulation over self-regulation.

  • International Incidents: Instances like The New York Times suing Microsoft and OpenAI, and Google's fine in France, underline the global challenge of AI and copyright.

  • Domestic Industry's Stand: Indian news publishers demand changes to IT rules for fair compensation from AI-generated content, with DNPA actively lobbying for legal protections.

  • Future Framework: Experts suggest forming a regulatory framework to facilitate fair negotiations between AI firms and content creators, amidst evolving global AI regulations.

Paytm’s Parent Company Boosts Employee Morale with New Stock Options

  • One97 Communications grants 91,250 stock options under ESOP 2019.

  • 2,91,388 fully paid-up equity shares allotted to employees under ESOP 2008 and 2019.

  • Each stock option is convertible into one equity share with a face value of Rs 1.

  • Exercise price for each stock option set at Rs 9.

  • Total equity share capital of the company increased to over Rs 63.57 crore post-allotment.

Briefs, You Can’t Miss:

  1. RBI's new online portal and app go live, offering advanced features. 

  2. India's EV market set for explosive growth, with a 66% increase expected in 2024.

  3. IDFC First Bank hit with Rs 1 crore penalty by RBI for non-compliance. 

  4. Blinkit collaborates with Sony for 10-minute deliveries of the new PS5 Slim. 

  5. Tesla and Telangana in dialogue to build a landmark electric car facility.

  6. Urea imports in India to halt by 2025, according to Mansukh Mandaviya.

  7. Futures and Options now on PhonePe's Share Market: A trading milestone. 

  8. QIP achievement: AngelOne raises a substantial Rs 1,500 crore.

  9. Astrotalk’s upcoming financial boost: $30 million from StepStone and Elev8.

World Briefs

  • March Sees Increase in US Job Growth and a Decrease in Unemployment, Government Reports. 

  • Tesla Cuts Model Y Prices Up to $7,000 to Reduce Inventory.

  • Follower Alert: X Conducts Bot Sweep, Possible Drops Expected.

  • Apple Cuts 600 Jobs Following Closure of Car and Smart Screen Projects, Report Claims.

  • TikTok Fights Ban Threat, Reports $14.7 Billion Support to US Small Businesses.

  • X Introduces Community Notes Feature in India Before Elections.

AI Briefs

  • Israel employs AI for pinpointing Hamas targets, reports suggest.

  • Microsoft’s alert: Chinese AI could disrupt elections in the US, South Korea, and India.