CHANNEL NEWS

India, April 23, 2024 – Elastic® (NYSE: ESTC) (“Elastic”) has released its latest study, “The Elastic Generative AI Report: One Year On,” shedding light on the impact and challenges of early generative AI (GenAI) implementation worldwide. The report unveils that India is at the forefront of GenAI adoption, with 81% of organizations already integrating the technology. Karthik Rajaram, area vice …

Perfect ID, a prominent manufacturer of FASTags in India, is gearing up to meet the sharp rise in demand for FASTags from banks and fintech companies. This surge follows a recent directive from the Reserve Bank of India, mandating the replacement of existing FASTags with new ones issued by authorized banks. With approximately 1.8 crore FASTags needing swift replacement to …

A recent survey by Gartner, Inc. discovered that 63% of organizations worldwide have either fully or partially adopted a zero-trust strategy. Despite its popularity, most organizations allocate less than a quarter of their cybersecurity budget to this strategy. The survey revealed that many organizations embrace zero-trust because it’s considered a standard practice, yet they struggle to define best practices for …

WeWork to Exit Indian Market, Selling Entire Stake WeWork Inc., the US coworking giant, is set to make a complete exit from the Indian market. As reported by the Economic Times, “US office-sharing company WeWork Inc. is set to exit the Indian operations by selling its entire 27% stake in the local unit through a secondary transaction, said multiple people …

Meta, formerly known as Facebook, has taken a significant step in the virtual reality (VR) industry by opening its Quest headset’s operating system to third-party device manufacturers, including Microsoft. This move, announced on Monday, marks Meta’s endeavor to expand its influence in the burgeoning virtual and mixed reality sector. Partnering companies can now utilize Meta’s Horizon OS, a revamped operating …

Honeywell India is advancing innovation by backing deep science start-ups through a collaboration with IISc. Prioritizing sectors like agri-tech, clean-tech, health-tech, and green-tech, Honeywell has provided funding totaling ₹2.4 crores in FY23-24 to eight start-ups and five entrepreneurship-in-residence programs. Over the past four years, they’ve supported 37 Indian start-ups, extending capital worth ₹9 crores. Through this partnership, Honeywell offers seed …

Cognizant and Microsoft have teamed up to boost the integration of generative AI across various enterprises. In this expanded partnership, Cognizant has acquired 25,000 Microsoft 365 Copilot licenses for its associates, along with 500 Sales Copilot seats and 500 Services Copilot seats. These resources aim to improve efficiency, streamline processes, and enhance customer interactions. Moreover, Cognizant plans to deploy Microsoft …

Intel has named Santhosh Viswanathan as the Managing Director (MD) of its India region business, bringing with him 21 years of experience with the company. This decision follows Intel’s recent announcement in March to establish India as a distinct region within its Sales, Marketing, and Communications Group (SMG) organization, aiming to seize the country’s burgeoning growth and business prospects. Viswanathan, …

Azim H Premji and his son Rishad A Premji have been reappointed to the board of directors of Wipro Limited for a five-year term, starting from July 31, 2024, pending stakeholder approval. The announcement comes as Wipro reported an 8% decrease in consolidated net profit to Rs 2,835 crore for the quarter ending March 2024, compared to Rs 3,074 crore …

The partnership combines Deloitte India’s expertise with Yotta’s NVIDIA GPU computing infrastructure to expedite AI application development. This collaboration aims to enable businesses and governments to capitalize on AI services and infrastructure, driving growth, innovation, productivity, and cost reduction. The alliance aligns with India’s AI initiative and is poised to benefit clients by providing ongoing value realization, scalable GPU access, …