Meta seeks OpenAI's help to create AI coding assistant for its engineers

Meta (formerly Facebook) is reportedly in touch with Microsoft and OpenAI's to develop an artificial intelligence (AI) coding assistant for its engineers.

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Sebi seeks investor data from AIFs for risk assessment

The Securities and Exchange Board of India (SEBI) has requested trustees to scrutinise the investors and the proportion of high-risk clients and non-profit investors in each fund, along with the proportion of investors in countries found on the Financial Action Task Force's grey list, or the United Nations Security Council's consolidated list. Trustees have also been asked to evaluate the degree of checks on politically-exposed persons and sensitive clients, and examine whether the right documents are being collected from investors and their jurisdictions while know-your-customer (KYC) and anti-money laundering measures are being carried out.

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ED to tap lenders for information on Byju’s loans, transactions

The agency is said to be investigating four types of transactions — those related to investments, fees paid by foreign students, sale of gadgets, and advertising and marketing expenses.

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Nearly 80% of iPhone users now own an Apple Watch: Report

While Apple sold about one Apple Watch for every three iPhones in Q4 2022, Samsung sold only one Galaxy Watch for every 10 Galaxy smartphones in the US.

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Elon Musk isn't doing right for Twitter: Jack Dorsey

Bluesky, backed by Dorsey, offers a host of new features and was initially launched to the iOS users in February in a closed beta.

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G7 should adopt 'risk-based' AI regulation, propose ministers

While the ministers recognised that "policy instruments to achieve the common vision and goal of trustworthy AI may vary across G7 members", the agreement sets a landmark for how major countries govern AI amid privacy concerns and security risks.

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EU tech regulation chief Margrethe Vestager sees political agreement on AI law this year

In an interview with Reuters at a Group of Seven digital ministers' meeting in Takasaki, Japan, Vestager suggested legislative measures for the use of AI tools, such as "labelling obligations for AI-generated images".

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Telegram app back in Brazil after judge lifts suspension

The judge kept in place a daily fine of $1 million reais (about $200,000) for Telegram's refusal to provide the data, according to a press statement provided by the federal court that issued the ruling.

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Twitter to allow publishers to charge users on a per article basis starting May

The feature, to be rolled out in May, will enable users who do not "sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article," billionaire owner Musk tweeted.

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Unlocking operational efficiency with a robust core banking platform

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ED conducts searches at Byju’s over alleged FEMA violations

​​The company runs popular online education portal in the name of Byju’s. During the search & seizure action various incriminating documents and digital data was seized.

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What is Bluesky and why are people clamouring to join it?

Some Twitter users have been looking for an alternative social platform since Elon Musk bought the company last year and then changed the service. Bluesky's users say the app - which was funded by a Twitter founder, Jack Dorsey - has come the closest to mimicking Twitter's tone and feel.

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Recovery notices likely to two EV companies over FAME sops

The probe found the EV two-wheeler firms breached the localisation programme they had committed to, said the people. The recovery notices will seek to claw back the subsidy amount disbursed under the FAME II scheme. Hero Electric and Okinawa denied they had violated FAME II provisions.

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Fintech sector grapples with heightened scrutiny, and other top stories this week

As things stand, it is no wonder that fintechs have been shopping around to acquire an NBFC licence. Cred acquired Parfait Finance in November 2021 and BharatPe acquired Trillionloans, a Mumbai-based NBFC, in March.

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Over 90% of Wipro’s freshers chose lower salary option: CFO Jatin Dalal

In February, Pune-based labour union Nascent Information Technology Employees Senate (NITES) had filed a complaint against the company with the central labour ministry alleging "unethical reduction" in salary offers of more than 4,000 candidates.

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Lyft to lay off more than 1,000 employees in cost-cut push

Risher, who took over earlier this month, had recently said the company will "significantly" cut jobs, without providing the number of jobs that would be affected.

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Pinterest's ad woes hurt revenue growth, shares slump

While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain.

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Malaysia’s Khazanah pays Elevation $40 million for 3% stake in Xpressbees

New-age logistics firm valued at $1.3 billion; Elevation takes $120 million out in a year from secondary deals

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Tech Mahindra's Q4 net profit dips 26% to Rs 1,118 crore

​​North American inflation has impacted spending sentiment while Europe is also going through challenges, said CEO CP Gurnani adding that clients are looking at tightening budgets echoing the sentiments of other IT peers Tata Consultancy Services, Infosys and HCLTech.

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Elon Musk ramps up AI efforts, even as he warns of dangers

Although Musk is pushing back against OpenAI and plans to compete with it, he helped found the AI lab in 2015 as a nonprofit. He has since said he has grown disillusioned with OpenAI because it no longer operates as a nonprofit and is building technology that, in his view, takes sides in political and social debates.

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Data services innovations by 6 deeptech startups take centre stage at NetApp Excellerator Demo Day

Zluri, AppSenitels, RapL, PrivaSapien, Firefly, and Squadcast were the six graduating deeptech startups of NetApp Excellerator Cohort 11. With this cohort, the NetApp Excellerator program has mentored and accelerated the growth of a total of 72 deeptech startups, who have raised funding worth over $330 million.

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Over 9,000 startup jobs slashed between Jan-March; betting, gambling apps advertise despite ban

Layoffs in the startup and tech ecosystem have continued into 2023, according to data from recruitment platform Careernet. The situation might not get better any time soon. This and more in today’s Morning Dispatch.

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ONDC to evaluate etailers based on commitment, says CEO Thampy Koshy

In April 2022, the network piloted a soft launch in five cities - Bengaluru, Delhi NCR, Shillong, Bhopal and Coimbatore. Since then, ONDC has also started a beta pilot in Bengaluru and in some tier-II cities.

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Meta Q1 results: Revenue up 3% to $28.7 billion, net profit plummets 24%

The company's net profit dropped significantly by 24% to $5.7 billion from $7.5 billion in Q1 2022.

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Most early­-stage investors see muted 2023 play, says report

According to Venture Intelligence data, during January-March, Seed- and Series-A investment rounds saw $712 million in funding, less than half of the $1.92 billion recorded in the same quarter last year. The number of deals also fell from 248 to 115 during this period.

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Paytm enables digital donations at Kedarnath temple via Paytm QR

Devotees from across India can make donations at the holy temple, situated in Rudraprayag district of Uttarakhand, from the comfort of their homes through the Paytm Super App.

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Tech CEOs wax poetic on AI, big adds to sales will take time

The tech behemoths have launched an array of products that they promise are packed with generative AI, which creates brand new content - text, image, code - from past data.

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Fresh twist in PhonePe-ZestMoney deal; neobank Jupiter secures NBFC licence

Digital payments major PhonePe is looking to close a commercial arrangement with ZestMoney after deal talks between the two companies fell through last month. This and more in today’s ETtech Morning Dispatch

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Aadhaar vetting by private entities against Supreme Court ruling: Experts

The Supreme Court in its 2018 judgement had held that Aadhaar could be used for welfare, but it recognised a fundamental right to privacy and struck down Section 57 of the Aadhaar Act that enabled private entities to use Aadhaar authentication to establish identity for delivering services.

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US policing AI at companies to make sure it doesn't violate civil rights

The growing popularity of AI tools, including Microsoft Corp-backed Open AI’s ChatGPT, has spurred US and European regulators to heighten scrutiny of their use and prompted calls for new laws to rein in the technology.

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Big Tech crackdown looms as EU, UK ready new rules

The updates help solidify Europe's reputation as the global leader in efforts to rein in the power of social media companies and other digital platforms.

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Content startup Lokal raises $14.6 million funding from Global Brain, SIF, others

The Bengaluru-headquartered company will use the fresh funds to expand in existing markets, launch new categories and product capabilities, and strengthen the product and technology teams further, it said.

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Silicon Valley startups brace for a summer of pain

As the market downturn drags on and investor cash remains hard to come by, more startups will start to run out of money, experts say. Some venture-backed companies will be forced to raise new funding even if it means agreeing to a lower valuation than they once secured, a deal called a down round, dreaded by founders and investors alike.

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Britain to take on Big Tech with new legal powers

The legislation will also bolster protection for consumers by making it easier to opt out of online subscriptions and by making it easier to tackle fake reviews, the government said.

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Startups call for exempting more from angel tax; CCI ordered to look into ADIF’s plaints against Google

The startup industry wants angel tax to be either scrapped or have its exemption threshold of Rs 25 crore raised. This and more in today’s ETtech Morning Dispatch

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Myntra private label head Manohar Kamath quits

Tribikram Mishra, vice-president and head of the Roadster brand, has also departed from the fashion etailer to join rollup commerce company Mensa Brands - run by former Myntra chief executive Ananth Narayanan.

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ECB says it can compensate banks if digital euro causes deposit flight

Ahead of the ECB's decision about developing a digital euro in October, European banking lobbies have warned that a central bank-backed currency could take deposits and business away from commercial lenders.

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AI-driven Microsoft Bing, startup You threaten Google's Search dominance

New AI features in Microsoft Bing search engine and startup You.com have started to threaten Google's Search dominance, as users seek more efficient search options.

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The chatbot race has an Apple-sized gap

Apple Inc. may be biding its time for the technology to mature, as it often does, yet waiting too long could also put the iPhone maker in a position where it’s hard to catch up.

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US urges South Korea not to fill chip shortfalls in China if Micron banned

The news comes ahead of South Korean President Yoon Suk Yeol's visit to the U.S. on Monday for a summit with President Joe Biden.

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Visa pauses single-click checkout for Indian ecommerce transactions

In March, Visa stopped 'Visa Safe Click' feature that allowed customers to check out without CVV and OTP for repeated online transactions.

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IoTechWorld Avigation aims to sell 3,000 agri drones this fiscal, explore export market

Startup IoTechWorld, which was founded in 2017 by Deepak Bhardwaj and Anoop Upadhyay, has a manufacturing facility in Gurugram. It sells agri drones at about Rs 7.5 lakh plus GST.

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Elon Musk should give my Blue check mark to charity: Stephen King

Chaos prevailed on Twitter last week when Musk removed all legacy verified accounts with Blue check marks but allowed some celebrities to retain it.

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Manufacturers hope for artificial intelligence boost in factories

Manufacturing firms are keen on using AI to automate the repair of complex machinery, thereby increasing efficacy and solving technical issues. This development was showcased in Germany's industrial Home Fair, where workers used AI-equipped virtual assistants to operate robots. HPE has partnered with German start-up Aleph Alpha to offer an AI programme that communicates with factory teams to detect machine issues or check correct installation, potentially reducing the gap caused by the 58% shortfall of skilled labour in Germany's manufacturing sector.

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German publisher apologizes for fake Schumacher AI interview

The magazine printed a photo of the 54-year-old Schumacher on its front page last weekend along with the words: "Michael Schumacher, the first interview!"

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In India, fantasy gaming is top of screen, and mind too

The fantasy sports industry in India is 20-years-old and reported revenues of `6,800 crore in FY22 — almost tripling from FY20.

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Students beat ChatGPT in accounting exam. Here’s all you may want to know

In recent research conducted by Brigham Young University and 186 other universities, OpenAI's chatbot has failed miserably against the students.

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Less than 5% legacy accounts paid for Twitter Blue, claims researcher

The microblogging platform on Thursday began removing legacy verified blue ticks from the profiles of thousands of users, including politicians, celebrities, and sportspersons with millions of followers on the platform.

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Taiwan's Apple supplier Quanta plans Vietnam factory

The company, a MacBook contract manufacturer, on Friday signed an agreement with the authorities of Nam Dinh province.

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Behind self-regulating Indian tech industry, and other top stories this week

This week ETtech's reporters broke a bunch of stories across fintech, online pharmacy and social media, which highlight the growing push towards self-regulation and the challenges being faced by players in adopting it.

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