AI has hit human-level performance on some parameters: Stanford report

Here's a summary of the noteworthy insights from the 'AI Index 2023' report by the Stanford Institute for Human-Centered Artificial Intelligence.

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Google trial wraps up as judge weighs landmark US antitrust claims

US District Judge Amit Mehta in Washington for hours grilled both sides with questions, probing whether competitive platforms such as ByteDance's TikTok and Meta's Facebook and Instagram are competitive substitutes for search advertising dollars.

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A week of hits and misses in fintech; and other top tech, startup stories

Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.

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Coforge’s $220-m Cigniti acquisition biggest, but not disproportionately bigger: CEO Sudhir Singh

Coforge's $220 million acquisition of Cigniti under CEO Singh's leadership aims to expand into new verticals, add fortune-500 clients, and strengthen North America market. Past acquisitions and focus on organic growth indicate a strategic approach to growth.

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Midcap IT companies buck the trend to add more employees

Mid-sized IT firms showed workforce growth in fiscal 2024, contrasting major Indian IT firms' decline. Demand rose for tech services from domestic and global sectors. Automation may impact headcount. Mid-tier firms excel in engineering services with strong growth.

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Micron to roll out first India-made chips from Sanand unit in 2025

Micron India's Sanand unit focuses on exporting chips. Anand Ramamoorthy highlights global demand, partnerships, and multiple sector usage. Emphasis on agility and talent scarcity in niche sectors like cybersecurity.

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Fixed income startup Dexif secures $4 million in funding from RTP Global

Bengaluru's Dexif raises $4M from RTP Global, dealing in fixed income securities. Founded by Bhandari, Sharma, and Bajaj. Aims to enhance tech, attract talent, and expand operations.

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Licious turning omnichannel with five stores in Bengaluru by June

Licious founders plan 500 stores in 5 years with 6% operating profit margin. Targeting profitability by FY25, focusing on offline strategy. Improved demand forecasting and introduced subscription model for growth.

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Binance's Changpeng Zhao sentenced to four months in prison over money laundering violations

Former Binance CEO Changpeng Zhao ('CZ'), 47, sentenced to four months in prison by U.S. District Judge Richard Jones in Seattle, becoming the second major crypto boss sent to prison.

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US newspapers sue OpenAI for copyright infringement over AI training

New York Daily News, Chicago Tribune, MediaNews Group sue Microsoft, OpenAI for misusing reporters' work. Lawsuit includes Copilot, alleges copying of articles. Ongoing suits by other news outlets. Lawsuits aim for damages and infringement block.

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Government holds discussion with fintechs on cybersecurity, digital financial fraud

Government, FinTechs, law enforcement agencies collaborate on addressing cybersecurity, fraud. Workshop discusses registry creation, geotagging transactions, AML system. Topics include digital KYC audits, money mules. Fintech associations, regulators join to address cybersecurity and fraud challenges.

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