The FinTech Hub
Source: Live Mint In a bid to tackle the growing traffic congestion in Bengaluru, the Bengaluru Traffic Police (BTP) has unveiled the Bengaluru Adaptive Traffic Control System (BATCS), an innovative technology aimed at enhancing traffic management across the city. The project, which commenced in May 2024, involves upgrading 136 existing traffic junctions and adding 29…
Source: Live Mint When Meta, the parent company of Facebook, announced its latest open-source large language model (LLM) on July 23rd, it claimed that the most powerful version of Llama 3.1 had “state-of-the-art capabilities that rival the best closed-source models” such as GPT-4o and Claude 3.5 Sonnet. Meta’s announcement included a table, showing the scores…
Source: Live Mint A recent study from Meta, conducted by consumer insights platform GWI, has revealed notable shifts in India’s festive shopping trends. The research highlights the increasing role of AI, quick commerce, micro influencers, and regional language content in shaping consumer behaviour during the festive season. According to Arun Srinivas, Director and Head of…
Source: Live Mint In a disturbing revelation, Drew Crecente, the father of murdered teenager Jennifer Ann Crecente, has recently discovered that his late daughter’s name and image had been used to create an artificial intelligence (AI) chatbot. The shocking find was made through a Google Alert, almost 18 years after Jennifer was killed by her…
Source: Live Mint As artificial intelligence (AI) continues to evolve, its potential integration into various sectors has sparked debates worldwide. One area drawing increasing attention is its use in the judiciary. Saddled with the backlog of millions of pending cases, the Indian judicial system might benefit from using artificial intelligence, experts said. However, they caution…
Source: Live Mint Some enterprises remain sceptical about the returns on artificial intelligence (AI) deployment. However, a recent report from Bain & Company has cited encouraging gains. Mint explains the state of GenAI adoption among companies today. Is GenAI moving beyond experiments? The early movers are going beyond proof of concept (PoC) and trials to…
Source: Live Mint India’s Minister of External Affairs, S. Jaishankar, at the third Kautilya Economic Conclave, Delhi, said that artificial intelligence, along with factors like demographics and connectivity, will change the global order, according to mutiple media reports. “Demographic, connectivity and AI will change the global order,” said the external affairs minister at the economic…
Source: Live Mint Microsoft Corp. Inc. wants to partner with the Indian government and other stakeholders as co-pilots to accelerate AI adoption, said Sundar Srinivasan, vice-president of AI & search, Microsoft India Development Centre, during a panel discussion at the Mint India@2047 Summit on Friday. “India has a unique asset in terms of, I…
Source: Live Mint Facebook owner Meta on Friday unveiled a new AI model called Movie Gen that can produce realistic-looking videos using only text prompts. Meta’s announcement comes almost 6 months after OpenAI took the AI industry by storm by unveiling its text-to-video generator, Sora. Movie Gen can also generate background music and sound effects…
Source: Live Mint PwC India has announced a collaboration with Meta to enhance the adoption of open-source AI solutions utilizing Meta’s Llama models. This partnership aims to develop innovative applications for both enterprises and citizen services, focusing on the capabilities of Generative AI (GenAI). The timing of this collaboration aligns with the Indian government’s recent…
