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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VC fund General Catalyst stresses on governance in Indian startups

Instances of financial misappropriation in the last 12-18 months including at startups such as BharatPe, Zilingo and GoMechanic have prompted the venture fund to “deepen its capabilities" and collaborate more with the financial department at startups.

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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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'Desperate for validation': Are blue checks uncool now?

Last week, Twitter began stripping the verification symbols from the profiles of thousands of celebrities, media personalities and politicians. The shift came as Elon Musk, the company's CEO, continued to roll out Twitter Blue, a subscription service that offers special features like tweet-editing in addition to the blue badge - for $8 a month.

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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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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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LTIMindtree Q4 profit flat at Rs 1,114 crore; revenue jumps 22% YoY

Net profit for the three months ended March was Rs 1,114.1 crore, compared with an estimated Rs 1,110 crore a year ago.

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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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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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Delhi HC turns down Rario’s NFT plea against MPL-backed Striker

The court observed that the information used by Striker, which is player name and data of a player’s real-word match performance, is freely available in the public domain and can be used by anyone.

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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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India, UK sign pact to cut red tape for greater science and tech tie-ups

Minister of State for Science and Technology Jitendra Singh reached London on Wednesday for a five-day trip to the UK.

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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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Microsoft Q3 results: Profit up 9%, revenue at $52.9 billion

The software maker posted revenue of $52.9 billion in its third fiscal quarter, up 7% from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $51.02 billion for the quarter.

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Binance calls off $1.3-billion deal to buy Voyager's assets

Last month, a federal judge temporarily stopped bankrupt Voyager Digital from completing a proposed $1.3 billion sale, allowing the US government more time to pursue appeals that challenge the legality of the deal.

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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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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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Unacademy to be profitable at group level in April: CEO Gaurav Munjal

With a cash balance of Rs 1,977 crore and an average monthly burn of Rs 17 crore, the Unacademy group will have at least 116 months of runway, according to screenshots of an internal presentation made during a company board meeting held on April 14.

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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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‘Give it to charity’: Stephen King ticks off Elon Musk over Twitter badge payment

King had tweeted on Friday that he hadn’t subscribed to Twitter Blue but still had the blue tick. “My Twitter account says I’ve subscribed to Twitter Blue. I haven’t. My Twitter account says I’ve given a phone number. I haven’t,” tweeted King.

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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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Tech earnings to test markets' 'most crowded' trade this week

US technology stocks are currently the "most crowded" trade in the market, fund managers surveyed by BofA Global Research said.

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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’s Twitter restores legacy Blue ticks for select users

This comes on the back of ‘legacy checkmarks’, a sign for verified accounts on Twitter, being purged by the social media site. Musk had announced that the legacy ticks would begin disappearing ‘4/20’ onwards.

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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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German magazine fires editor over AI 'interview' with Michael Schumacher

Seven-times world champion Schumacher, now 54, has not been seen in public since he suffered a serious brain injury in a skiing accident on a family holiday in the French Alps in December 2013.

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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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Karnataka court rejects Xiaomi's challenge to $676 million asset freeze

Xiaomi's assets in India were frozen last year by the federal financial crime agency which alleged the company had made illegal remittances to foreign entities by passing them off as royalty payments.

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Tata Elxsi to collaborate with IIT Guwahati on electric mobility technology

Tata Elxsi CEO and MD Manoj Raghavan said the collaboration will bring together the best minds from Tata Elxsi and IIT Guwahati to envisage and develop future-looking solutions for the fast-evolving space of electric mobility.

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Alphabet to combine AI research units Google Brain, DeepMind

The new division will be led by DeepMind CEO Demis Hassabis and its setting up will ensure "bold and responsible development of general AI", Alphabet CEO Sundar Pichai said in a blog post on Thursday.

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