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Representative image made with AI Global Capability Centres (GCCs) are recruiting technology professionals at a rate four times faster than IT services companies, representing the most significant employment transformation in India’s IT sector in ten years.GCCs are increasing their workforce by 18-27% annually, whilst IT services grow at 4-6%, as per TeamLease Digital’s statistics, cited…
India’s power distribution companies need to move faster towards intelligent, reliable and consumer-focused networks, with technology adoption paired with greater consumer engagement, Power Minister Manohar Lal Khattar said on Sunday.Addressing a two-day National Conference on the use of artificial intelligence and machine learning in the power distribution sector at Bharat Mandapam in New Delhi, Khattar…
File photo: Senior Trump administration economic adviser Kevin Hassett (Picture credit: AP) Artificial intelligence could be boosting worker productivity to a level where companies feel less pressure to hire, senior Trump administration economic adviser Kevin Hassett said on Monday. Speaking on CNBC’s Squawk Box, the National Economic Council director said he has noticed “mixed signals…
SINGAPORE: Payments giant Visa is looking to launch agentic commerce pilots across the Asia-Pacific region as regulatory and ecosystem readiness advances by early next year. Agentic commerce refers to a new era where AI-powered agents shop and pay on behalf of users. The company’s Visa Intelligent Commerce (VIC) programme incorporates features like tokenisation, authentication, payment…
The finance ministry has directed public sector banks (PSBs) to ramp up lending to micro, small and medium enterprises (MSMEs) and the agriculture sector while maintaining healthy growth in low-cost deposits and ensuring strong risk management, according to an official statement issued on Wednesday.Chairing a performance review meeting with bank chiefs, Department of Financial Services…
The relentless march of artificial intelligence is no longer a distant forecast; it is actively rewriting the rules of employment. Across sectors, tasks once safeguarded by human oversight, from basic data processing to first-line technical support, are increasingly ceded to algorithms, leaving traditional roles exposed. Accenture recently laid off thousands of employees globally over the…
