AT&T CEO John Stankey is enforcing a market-based mentality by combining help-desk centres and requiring managers to relocate to six hubs or risk losing their jobs. As part of a massive workplace reorganisation, AT&T is forcing more of its managers to transfer or face severance.
CEO John Stankey’s Push for a Market-Based Culture
This decision highlights the telecom giant’s strict culture reset under CEO John Stankey. The corporation is reducing 22 internal help-desk locations to just six regional hubs, according to Business Insider. These units’ managers have been given two weeks to make a decision about leaving the company with severance pay or moving.
On the other hand, unionised employees will be permitted to stay in their current locations, although in various customer service support positions. The modifications, which mostly impact workers who support other AT&T employees, are part of a larger approach Stankey has been following since 2023: centralising operations, reducing legacy expenses, and putting efficiency first.
A representative for the corporation acknowledged that fewer stores are being opened, but they did not provide a specific number and insisted that the action had nothing to do with Stankey’s recent email to employees.
AT&T Moving Towards Market Based Culture
In a direct internal memo earlier this month, Stankey informed staff that AT&T was implementing a “market-based culture” that necessitated greater in-office cooperation. He claimed that tenure-based security and workplace loyalty were outmoded ideas in the missive, which Business Insider was the first to report.
Six Hub Cities: Where Managers Must Relocate
An internal poll that revealed a decline in employee engagement prompted the note. Managers told Business Insider they think the memo sped up the timeline, despite AT&T’s insistence that the help-desk consolidation is distinct. Things that used to take years are now being completed in a matter of weeks. The plan requires managers to move to one of six cities: Miami, Orlando, Richardson, Texas; Atlanta; Mesa, Arizona; or Tulsa, Oklahoma.
Impact on Employees: Relocation vs Severance
Workers claim they feel torn between leaving their jobs and uprooting households. A number of employees also revealed that department heads had been assigned the responsibility of creating “action plans” to resolve issues brought up in the most recent employee survey.
Layoffs and Workforce Reduction at AT&T
The most recent relocation wave is a component of a larger trend. Around 60,000 managers will be redistributed to just nine metro areas, down from 300, according to AT&T’s 2023 announcement. Stankey informed Bloomberg at the time that choices on the relocation of roughly 9,000 employees will be made.
According to internal data, about half of the 318 managers who were told to relocate in one division under Chief Technology Officer Jeremy Legg declined and quit. As a result, the headcount of the entire company has been declining. AT&T started 2025 with about 141,000 employees, compared to over 160,000 in the beginning of 2023. In contrast, rivals T-Mobile and Verizon reported about 70,000 and 99,000 workers, respectively.
AI Integration: $3 Billion Cost-Cutting Plan
Another key component of the company’s strategy is AI. Stankey stated during a January earnings call that AT&T anticipates integrating AI into operations to save $3 billion in operating expenses. AT&T Technology Services is now feeding trouble tickets into its generative AI systems, which can already suggest improvements and even create the code to put them into action, Legg stated at the KeyBanc conference. Although there is still human control, automation is growing quickly.
Quick
Shots
•Managers told to relocate to six hubs
or accept severance packages.
•Push for a “market-based culture”
with centralised operations and reduced costs, CEO John Stankey’s Strategy.
•Internal support centres cut from 22
to 6 regional hubs.
•Two-week deadline to decide; many
facing relocation vs. job loss dilemma.
Approximately 10% of Oracle’s Indian workforce was let go by the American computer giant, Oracle, overnight, leaving dozens of talented individuals without jobs.
Although the business has officially stated that the cuts were due to “restructuring”, industry observers are connecting the action to a change in US policy brought about by Donald Trump’s intensified efforts to limit outsourcing and lessen reliance on H-1B visas.
US & India OCI Teams Face Job Cuts
Many Indians are therefore in danger of losing their employment suddenly. Oracle Cloud Infrastructure (OCI) staff in the US are still receiving layoff notices, while Oracle’s operations in India are among the most severely affected, according to Data Centre Dynamics. Cuts are also reported in Canada.
Employees in other areas have reported being scheduled for undisclosed management meetings later this week, despite the fact that the US and India have been the first to experience job losses. This has fuelled concern that other workforce cutbacks may be imminent across Oracle’s global operations.
Larry Ellison’s Meeting with Donald Trump
On August 7, Larry Wilson, the CEO of Oracle, met with US President Donald Trump at the Oval Office, as per various media reports. According to reports, the conversation covered national data security concerns, technology alliances, and domestic hiring. Oracle and OpenAI announced a historic agreement shortly after, which will allow Oracle’s systems to process a significant amount of OpenAI’s data.
The software community has expressed concern about the timing, especially as Oracle has started a massive hiring campaign at its Virginia office while reducing its workforce elsewhere. According to insiders, Oracle employees in Mexico have also received notice, and the country may experience layoffs akin to those in India. The layoffs are anticipated to have a major impact on India, where a sizable percentage of Oracle’s global staff resides.
Oracle India had over 28,824 employees in 2024, which helped the business reach a global workforce of roughly 162,000 in 2025. The reductions will have a particularly large effect on the local talent pool because India has been a vital location for Oracle’s software development, cloud services, and technical support operations.
In the Seattle region, which has historically served as the unit’s hub, the corporation is reportedly laying off about 150 employees. This week, affected workers received notice that their jobs were being cut. Although the precise number of job cuts is yet unknown, some with knowledge of the situation stated that performance-related concerns were a factor in the decisions. The division is still hiring for a few positions in spite of the cuts, indicating a targeted rather than comprehensive reorganisation.
Oracle Cuts 10% of India Workforce After Trump Meeting and OpenAI Partnership Deal
As per the recent update, Oracle, has laid off a significant portion of its personnel in India, affecting around 10% of the local workforce. There is conjecture over the motives for the abrupt reorganisation because the move coincides with the company signing a significant contract with OpenAI and having high-level discussions with US President Donald Trump.
The timing of the layoff is what makes it more contentious. Oracle CEO Larry Wilson met with US President Donald Trump at the Oval Office just a few days before the announcement of the layoffs. The agenda covered technology collaborations, national data security, and domestic recruiting, according to a number of media reports.
Oracle and OpenAI announced a historic agreement shortly after, which will allow Oracle’s infrastructure to process enormous amounts of AI data. Many in the tech sector think that the corporation is reallocating resources to the US market in accordance with Trump’s efforts to lessen reliance on H-1B visas and offshore.
Global Tech Layoffs Trend in 2025
Oracle’s action is in line with a larger pattern among large tech firms that are reducing employment elsewhere in order to offset the sharply increasing expenses of AI infrastructure.
This year, Microsoft has laid off some 15,000 employees, and Amazon and Meta Platforms have also reduced their workforces as they reallocate funds to AI projects.
Even the biggest companies are being forced to reevaluate their spending priorities due to the growing financial needs of AI development, which are fuelled by the requirement for enormous data centre capacity and processing power.
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Businesses in the financial services sector, known for their strict regulations and cautious nature, are often slow to embrace groundbreaking technologies. However, when they do, it’s a clear sign that a broader shift is happening across industries and regions. This raises a crucial question: how will this acceptance evolve into widespread adoption that delivers real value? The banking and insurance sectors may hold the key, offering valuable lessons for other industries looking to advance their own GenAI strategies.
Fractal Analytics also examines how one global financial institution is already seeing the benefits—teams are making smarter decisions and boosting productivity thanks to a new tool that automates complex data analysis.
In this article, we will highlight the various GenAI use cases in financial services. Here’s learning about Fractal Analytics, its Founders, Startup Story, Business Model, Revenue Model, Funding, Acquisitions, Growth, Competitors, and more.
Fractal Analytics is a global leader in AI and analytics, helping businesses leverage data to make smarter, more informed decisions. With expertise across multiple industries—ranging from consumer goods and healthcare to insurance, life sciences, retail, and financial services—Fractal is at the forefront of transforming businesses through data.
Fractal’s approach is grounded in predictive analytics and visual storytelling, enabling companies to not only understand but act on insights for a competitive edge.
With offices in over 15 countries, including key locations like the United States, United Kingdom, Ukraine, and India, Fractal operates from dual headquarters in Mumbai and New York. The company’s impact and innovation have earned it recognition from industry analysts, including mentions as a “Cool Vendor” and a “Vendor to Watch” by Gartner.
Fractal continues to push the boundaries of artificial intelligence, delivering tailored solutions that drive growth and operational excellence across sectors.
Fractal Analytics – Industry
AI is shaping up to be a game-changer for global development, with experts predicting it could add a staggering $15.7 trillion to the world economy by 2030—more than the combined GDP of India and China today. But what about India’s role in this AI boom? Well, the country is emerging as a powerhouse, boasting the third-largest pool of AI talent globally. Investments in India’s AI capabilities are on the rise, growing at an impressive CAGR of 30.8%, hitting approximately $881 million in 2023 alone.
What’s fueling this surge? A big part of it is India’s growing semiconductor industry, which is set to become the backbone of AI innovations here. By 2025, India’s AI market could be worth $7.8 billion, with a massive 60% of AI’s contribution to India’s GDP coming from four key sectors: Industrials & Automotive, Healthcare, Retail and Consumer Packaged Goods (CPG). But that’s not all—BFSI (Banking, Financial Services, and Insurance) and Agri-tech are also rapidly emerging as exciting spaces for AI-driven solutions.
India is gearing up to be a key player in the global AI revolution.
Fractal Analytics – Founders
Pranay Agrawal
Pranay Agrawal – Co-founder and CEO, Fractal Analytics
Pranay Agrawal serves as the Co-founder and CEO of Fractal, bringing a wealth of expertise in both finance and data science. He is a certified Financial Risk Manager through the Global Association of Risk Professionals and was recognized as one of the Top 20 CEOs of Data Science Service Providers in 2023 by Analytics India Magazine.
Before joining Fractal, Pranay worked with prominent financial institutions, including ICICI Bank and ANZ Grindlays Bank. His accomplishments have been widely acknowledged, including the prestigious Young Alumni Achiever’s Award from IIM Ahmedabad in 2018-19.
Pranay holds a Bachelor of Commerce degree from Bangalore University and a postgraduate diploma in management from IIM Ahmedabad. As CEO, his focus is on expanding Fractal’s presence in the U.S. and Europe while developing capabilities that keep pace with the evolving needs of clients.
“Our goal is to power every human decision within enterprises through analytics, AI and technology. This approach allows us to provide comprehensive support to our clients,” Pranay shared.
Srikanth Velamakanni
Srikanth Velamakanni – Co-founder, Group Chief Executive, and Vice-Chairman of Fractal Analytics
Srikanth Velamakanni is the Co-founder, Group Chief Executive, and Vice-Chairman of Fractal Analytics, one of India’s top analytics firms. A graduate of IIT Delhi with a degree in engineering and an MBA from IIM Ahmedabad, Velamakanni joined ANZ Investment Bank, where he worked in the structured debt department. Reflecting on his time there, he found the role engaging, working with high-profile clients like Enron and handling sectors such as aircraft finance.
That’s not all – Mr. Velamakanni is also a Co-founder and Trustee of Plaksha University, which emphasizes core engineering, AI/ML, and mathematics, fostering interdisciplinary learning that blends science with the liberal arts. As part of NASSCOM’s Executive Council, he contributes as a data and AI expert.
Fractal Analytics – Startup Story
Fractal Analytics kicked off its journey in 2000 in Mumbai, thanks to the vision of co-founders Srikanth Velamakanni, Pranay Agrawal, Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy. (While Srikanth and Pranay continue to lead Fractal today, the other three co-founders have since moved on.)
The beginning of a great partnership began when Velamakanni transitioned to ICICI Bank’s structured products group, where he collaborated with Pranay Agarwal, a future co-founder of Fractal, to pioneer India’s first collateralized bond obligation (CBO) in 1999. This is where they saw the potential of using math to improve business outcomes, particularly in banking.
In 2000, as the internet was booming, it was the perfect time for Fractal Analytics to take shape. The founders seized the opportunity to build algorithms that could track sentiment analysis, capitalizing on the vast amount of data generated by rapidly growing websites. This laid the groundwork for their innovative analytics-as-a-service business, allowing companies to make more informed, data-driven decisions. This insight eventually led to the creation of Fractal Analytics.
In 2016, Pranay Agrawal stepped up as CEO, succeeding Srikanth Velamakanni, who transitioned to the Group Chief Executive and Executive Vice-Chairman role.
The company hit a major milestone in January 2022, achieving unicorn status after raising $360 million from private equity firm TPG. This accomplishment has solidified Fractal’s position as a powerhouse in the AI and analytics landscape, poised for even greater success in the future!
Fractal Analytics – Mission and Vision
Fractal Analytics is on a mission to leverage AI in ways that make a real difference in the world.
Vision: Imagine a future where every decision made in businesses is fueled by AI. Fractal believes in this future, where human creativity can flourish, opening doors to exciting new possibilities that can change lives and industries around the globe.
Mission: Fractal is dedicated to transforming the business landscape by harnessing advanced science and data-driven tools. Their mission is to simplify decision-making, liberating individuals from mundane tasks so they can channel their energy into innovation and creative thinking, driving progress and inspiring new ideas.
Fractal Analytics – Name, Tagline and Logo
Fractal Logo
At its core, the logo represents the concept of “fractals,” which are irregular, fractional, and fragmented objects. This design choice reflects the company’s focus on complex systems that are often disordered and multifaceted. Just as fractals can reveal intricate patterns within chaos, Fractal Analytics aims to uncover valuable insights from vast amounts of data, helping businesses navigate the complexities of the modern world.
This connection between the logo and the company’s mission highlights Fractal’s commitment to transforming disorder into clarity, allowing organizations to harness the potential of their data in a meaningful way.
Fractal Analytics – Business Model
Fractal Analytics operates with a robust business model tailored for consumer-facing companies that handle high-volume transactions.
The company focuses on two primary objectives:
Deeply understanding consumers to enhance engagement & loyalty.
improving operational efficiency through data-informed decision-making.
Their flagship solution, Customer Genomics, exemplifies this approach by providing a comprehensive view of each customer’s behavior and attitudes. This enables businesses to create personalized marketing strategies that resonate with their target audience.
By utilizing proprietary pattern recognition and machine learning algorithms, Fractal learns from every customer interaction, including insights from social media, empowering organizations to act on previously undiscovered patterns in their data.
With a specialization in sectors such as consumer goods, financial services, insurance, retail, and technology, Fractal leverages its extensive experience across over 100 countries to deliver 40 productized services designed to enhance customer understanding and drive business success.
Fractal Analytics – Revenue Model
Fractal Analytics generates revenue primarily through its subscription-based and project-based analytics services.
The company’s diverse offerings encompass artificial intelligence (AI), business intelligence (BI), and customer intelligence (CI), providing clients with a comprehensive analytics toolkit to navigate the complexities of big data.
By offering a suite of tailored solutions that integrate scientific decision-making into the operations of their clients, Fractal helps organizations improve business process efficiency and customer experience, ultimately leading to higher market share and profitability.
Fractal Analytics – Employees
Fractal Analytics offers a range of benefits designed to enhance employee satisfaction and well-being, scoring an impressive average of 81 out of 100 in perks and benefits. Notable offerings include free food, a flexible work-from-home policy, and a performance bonus. In addition to these, Fractal provides several unique benefits across categories like Health & Wellness and Paid Time Off, fostering a supportive and enriching workplace environment.
At Fractal, employees, affectionately known as Fractalites, are encouraged to remain curious and continually challenge their capabilities. To support this mindset, the company provides training programs through the Fractal Analytics Academy (FAA). This academy features a comprehensive onboarding program for every new Fractalite, ensuring a smooth transition into the organization. The FAA is committed to ongoing skill and knowledge development, helping employees advance their careers while nurturing a culture where imagination and creativity thrive.
Fractal Analytics – Challenges Faced
Fractal Analytics leverages its experience in solving business analytics challenges across industries like consumer packaged goods (CPG), financial services, and retail.
Transition from analytics to AI: First, the company had to anticipate client needs years in advance, prompting a significant increase in research and development investment, from 3-4% of revenue to 12.5%. Second, the shift required a change in talent strategy, prioritizing a learning-oriented mindset over specific skills. To address this, Fractal invested heavily in training and development programs, ensuring employees could adapt to evolving AI technologies. Despite these adjustments, the overall transition was relatively smooth, with the core business questions remaining constant.
Building a risk model: The lack of sufficient data, posed significant risks, especially in the financial sector where errors could cost banks a fortune. For instance, while developing a personal loan cross-sell model for ICICI’s credit card customers, they encountered thin data for price sensitivity analysis, a relatively new area at the time. To overcome this, Fractal conducted extensive research and wrote a paper on the subject, which they presented to the bank. This built credibility and allowed them to confidently offer their services to other major clients like Citibank and Hindustan Lever.
Keeping up with the fast-evolving world of analytics: At Fractal Analytics, the industry changes so quickly that knowledge becomes outdated in just three years. To tackle this, they established the Fractal Academy, a dynamic learning hub designed to keep employees ahead of the curve. By partnering with platforms like eDX and Coursera, Fractal encourages its team to continuously upgrade their skills. Employees can earn credits for completing relevant courses, ensuring they stay sharp and ready to handle the industry’s rapid advancements while maintaining a culture of continuous growth.
Fractal Analytics – Funding and Investors
Fractal has raised around $855 million to date including a $360 million round, where the Srikanth Velamakanni and Pranay Agrawal-led company turned unicorn.
Date of Funding
Funding Amount
Round Name
Investors
July 15, 2025
$170 million
Secondary share sale
January 5, 2022
$360 million
Series E
TPG
January 17, 2019
$200 million
Series D
Apax
May 10, 2016
$100 million
Series C
Khazanah Nasional Berhad
August 13, 2014
Undisclosed
Series B
Aimia
January 24, 2013
$25 million
Series A
TA
Fractal Analytics – Mergers & Acquisitions
Fractal Analytics has made several acquisitions across three countries, with the majority concentrated in India and the United States. Most of these acquisitions have been focused on AI services and IT services, with two acquisitions in each of these areas. These strategic moves have strengthened Fractal’s capabilities in delivering advanced AI-driven solutions and expanding its footprint in key global markets.
Acquired On
Acquired Company
January 11, 2022
Neal Analytics
June 22, 2021
Samya.ai
January 15, 2021
Zerogons
January 15, 2021
XStreams
March 14, 2018
Finalmile Consulting
June 2017
4i Inc.
Fractal Analytics partnered with Final Mile to integrate data science with behavioral science in September 2017.
Fractal Announces Merger with Eugenie.ai (June 24, 2024)
Fractal Partners with QiCAP.Ai (June 4, 2024)
Acquisition of Imagna Analytics (2015)
Fractal Analytics has also acquired Mobius Innovations, a Singapore-based startup specializing in mobile-based, context-aware Big Data solutions for an undisclosed sum.
Fractal Analytics – Advertisements and Social Media Campaigns
Fractal Analytics allocated under $100 million for print advertising over the past year, strategically investing in premium ad units. The company advertised across fewer than 50 different media properties, utilizing a variety of formats to reach its audience. In addition to its advertising efforts, Fractal launched and promoted a new product called MarshallGoldsmith.ai in the last twelve months. MediaRadar, a platform that tracks creative runs on leading websites, magazines, and national television for over 3 million brands, captures Fractal’s advertising presence. Recently, the company has placed several advertisements through its subsidiaries, showcasing its commitment to effective media engagement.
Fractal Analytics – Awards and Achievements
Fractal has received the following awards:
Best Places to Work in New York 2023
Fast 50 Asian American Business: Honored by the US Pan Asian American Chamber of Commerce (USPAACC).
Innovation Award: Fractal Analytics received the prestigious Innovation Award at the Direct Marketing Association’s (DMA) annual Analytics Challenge during the DMA2013 Conference & Exhibition held in Chicago.
Best in Business for ‘AI and Data’: Best in Business Awards 2023, featured in the Winter issue of Inc. magazine.
Fractal prepares for an IPO to raise $400–$500 million at a valuation of around $3 billion. The company has appointed Morgan Stanley, Kotak Securities, and Axis Securities as its IPO bankers and is preparing to file its draft red herring prospectus (DRHP).
FAQs
What does Fractal Analytics do?
Fractal Analytics is an artificial intelligence company offering services across various industries, including consumer packaged goods, insurance, healthcare, life sciences, retail, technology, and finance.
Who is the CEO of Fractal Analytics?
Pranay Agrawal is the CEO of Fractal Analytics.
When was Fractal Analytics founded?
Fractal Analytics was founded in 2000 by Srikanth Velamakanni, Pranay Agrawal, Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy.
Who are the competitors of Fractal Analytics?
The main competitors of Fractal Analytics include Alteryx, Microsoft, Qlik, ThoughtSpot, Altair Engineering, AWS, BDB, Salesforce (Tableau) and others.
In the third round, the IndiaAI Mission plans to add over 3,850 graphics processing units (GPUs) to increase its GPU capabilities. Abhishek Singh, the chief executive of the IndiaAI Mission, was quoted in an ET report as saying that IndiaAI possesses 1,050 Google Trillium tensor processing units (TPUs).
From training to inferring large-scale models, Google’s sixth-generation TPUs, known as Trillium, are specially designed processors designed to enhance AI and ML workloads.
Expressing his views on the developments, Deepak Gupta, Co-Founder, Style Lounge said, “India’s move to procure 3,800 GPUs in its third AI tender is not just about hardware—it’s about unlocking possibilities. For years, many Indian startups, researchers, and innovators have had the ideas, the talent, and the drive, but lacked the computing muscle to bring those visions alive. This step feels like a big green signal for innovation. GPUs are the fuel that power everything—from training large AI models to building practical solutions in healthcare, education, beauty-tech, recruitment, and even agriculture.”
“With this kind of infrastructure, India is giving its innovators a fair chance to not just catch up, but actually lead with unique, world-first AI solutions. As someone working at the intersection of AI and industry, I see this as more than an investment—it’s a message that India is ready to dream bigger. Ready to create AI that is not just for India, but from India, for the world. Truly excited to see how this boost in compute capacity can transform ideas into breakthroughs and put India firmly on the global AI map,” he added further.
Breakdown of GPU Suppliers and Contributions
Google Cloud offers these customised processors for purchase. Additional GPUs supplied by already-embellished bidders include 1,300 NVIDIA H100 GPUs from Locuz, 50 Google Trillium TPUs from Ishan Infotech, and 2,500 GPUs from Sify (1,000 Google Trillium TPUs, 800 NVIDIA H200 GPUs, and 700 NVIDIA L4 GPUs), according to Singh, who was quoted in the story. Vensysco has reduced costs, but they haven’t supplied any more GPUs.
Revisions in L1 Pricing and Financial Evaluation
The ET report also stated that the third round’s financial bid evaluation was finished, with minor adjustments made to the L1 (lowest bidder) prices. It is anticipated that the empanelled bidders from the GPU tender’s first and second rounds will match these updated prices.
India’s AI GPU Pool Crosses 34,000 Units
The 34,333 GPUs in the current pool will be joined by these extra 3,850 GPUs from the third round. More than 17,300 GPUs have been installed in India as of June of this year under the IndiaAI Mission. Jio Platforms and CtrlS Datacenters have not yet started the deployment process, but providers like Yotta Data Services from the Hiranandani Group, E2E Networks, and NxtGen Cloud Technologies are making progress.
Upcoming GPU Procurement Plans Under IndiaAI Mission
At the CII Business Summit 2025 more than two months ago, Ashwini Vaishnaw, the minister of information technology, declared that the government would buy an extra 14,000 GPUs as part of the IndiaAI objective. The minister went on to highlight the increase in processing power, stating that the nation has surpassed the 34,000-GPU milestone after adding 15,916 GPUs to the 18,417 already-installed GPUs; however, these new units are not yet operational.
In the second round, the MeitY shortlisted seven businesses: Ishan Infotech, Yotta Data Services, Locuz Enterprise Solutions, Vensysco Technologies, Cyfuture India, Sify Digital Services, and Netmagic IT Services. Four of the six applying companies—Locuz Enterprise Solutions, Ishan Infotech, Vensysco Technologies, and Sify Digital Services—passed the technical phase in the third round. Nevertheless, Rackbank Datacenters and Teleglobal International failed to get past the round.
Quick
Shots
•IndiaAI Mission to procure 3,850+
GPUs in its third round of tenders.
•IndiaAI already has 1,050 Google
Trillium TPUs in place.
•IndiaAI’s GPU capacity rises to
34,333 GPUs with new additions.
•Govt to procure 14,000 more GPUs as
announced by IT Minister Ashwini Vaishnaw.
Parallel Web Systems Inc., a cloud platform designed to assist artificial intelligence systems in carrying out extensive web research, was introduced by former Twitter CEO Parag Agrawal. After taking over Twitter (now known as X) in 2022, billionaire Elon Musk fired Agrawal.
Parallel Web Systems: The AI Startup Redefining Research
He launched Parallel in 2023 and has since gathered a staff of 25 people in Palo Alto. The startup has already raised $30 million from well-known investors, such as Index Ventures, Khosla Ventures, and First Round Capital. We already power millions of research jobs every day across ambitious startups and public companies, according to Agarwal’s LinkedIn post.
He went on to say that some of the AI startups with the quickest rates of growth use Parallel to integrate web intelligence into their agents and platforms. With Parallel, a publicly traded firm automates processes that are typically performed by humans with precision that surpasses that of humans. Our search is used by coding agents to locate documents and troubleshoot problems.
Deep Research API: Beating GPT-5 and Humans
Additionally, Parallel announced the release of its Deep Research API, which, according to Agrawal, is the first to beat top models, such as GPT-5, and humans on two of the most difficult benchmarks. The web is humanity’s memories, the business wrote in a blog post.
Large-scale publication, education, and cooperation have been made possible by the open internet. It served as the basis for training contemporary AI. AI is becoming the main user of the web. AIs can search through whole databases, digest information for hours, or extract facts instantaneously on a large scale, in contrast to humans who just look at a few pages or perform quick searches. Antiquated company models are ineffective.
Clicks, advertisements, paywalls, and locked APIs are examples of how the modern web depends on human attention. However, these models run the risk of enclosing important knowledge in silos and are not machine-use-friendly. An AI “Programmatic Web” Parallel contends that the internet needs to develop into a machine-designed system that facilitates computing, reasoning, and reputable sources.
How Parallel Works: AI-Specific Internet for the Future
By integrating data, computation, and reasoning on a single infrastructure, Parallel generates insights and actions rather than only static texts. Additionally, it functions on declarative interfaces, in which AIs specify their needs and the system determines how to provide them.
Furthermore, it offers clear attribution, allowing contributions to be quantified and all sources to be acknowledged. Likewise, Parallel strives to increase transparency in free marketplaces where value is monetarily rewarded, guaranteeing that openness is supported by both financial incentives and goodwill.
Parallel is developing an AI-specific version of the internet. AIs will be able to directly request information, and Parallel’s system will collect, process, and arrange it in place of people clicking and searching. Additionally, it will reward contributors and acknowledge sources. To put it briefly, Parallel makes it simpler and more equitable for AIs to access the internet to generate insights and find answers.
Quick
Shots
•Former Twitter CEO Parag Agrawal,
fired by Elon Musk in 2022, launched Parallel Web Systems in 2023.
•Raised $30M from Index Ventures, Khosla
Ventures & First Round Capital; has a 25-member team in Palo Alto.
•Already powering millions of research
jobs daily for startups and enterprises; used by coding agents for document
search & troubleshooting.
•Parallel’s Deep Research API
reportedly beats GPT-5 and humans on two major benchmarks.
In an X post, the minister stated that five assembly, testing, marking, and packaging units, one fab, and six semiconductor units are in varying phases of planning, building, and operation. Last week, four more were approved: three ATMP, including the most advanced packaging unit, and one silicon carbide fab. The whole ecosystem is developing in Bharat, including design, manufacturing, packaging, machinery, chemicals, and gases.
Lam Research & Applied Materials Strengthen India’s Chip Supply Chain
He noted that major equipment makers Lam Research and Applied Materials are establishing design, production, and validation facilities in the nation. Wafers are thin, circular slices of crystalline semiconductor material, usually silicon, used in the fabrication of integrated circuits. The majority of silicon fabs typically produce between 20,000 and 40,000 wafer starts each month.
India’s Chipmaking Roadmap and ISM Projects Worth INR 4,584 Cr
A few days after the Union Cabinet approved four projects under the India Semiconductor Mission (ISM) with a combined expenditure of INR 4,584 Cr, Ashwini Vaishnaw made remarks regarding India’s chipmaking agenda. There will be two projects in Odisha and one each in Andhra Pradesh and Punjab.
The minister established two brand-new, cutting-edge design hubs in Noida and Bengaluru earlier in May to strengthen India’s semiconductor capabilities, from testing to architecture. The first phase of the Indian government’s semiconductor mission, which aims to make the nation a global centre for electronics design and manufacturing, was initiated in 2022.
Government Incentives Driving Semiconductor Growth in Bharat
This occurred a year after the government introduced the Semicon India initiative, which provided INR 76,000 Cr in incentives for producers of silicon semiconductors, display semiconductors, compound semiconductors, and other products. To improve India’s semiconductor industry, more than five units have been approved under the ISM; these are anticipated to draw INR 1.52 Lakh Cr in total investment.
Leadership Change: Amitesh Kumar Sinha Appointed CEO of ISM
In April of this year, Amitesh Kumar Sinha was appointed as the new CEO of the India Semiconductor Mission. This came weeks after it was reported that the union government was considering “supporting” chip design projects in the nation and semiconductor packaging designs in addition to internally discussing plans for the second phase of the ISM’s rollout.
The domestic semiconductor market is the foundation of all of these developments and is anticipated to represent a $150 billion opportunity by 2030, according to a number of media reports.
Quick
Shots
•Four new projects sanctioned — three
ATMP (incl. advanced packaging) and one silicon carbide fab.
•Full value chain developing in India
— design, manufacturing, packaging, machinery, chemicals, and gases.
•Lam Research and Applied Materials
setting up design, production, and validation facilities in India.
•Typical silicon fabs produce
20,000–40,000 wafer starts per month.
According to the news portal Times of India, Google, a multinational computer giant, is preparing to resume in-person interviews after Sundar Pichai, the company’s CEO, said that artificial intelligence (AI) had rendered virtual recruiting unreliable.
Sundar Pichai on AI’s Impact on Virtual Hiring
According to Pichai, Google intends to conduct at least one round of in-person interviews with the candidates in order to make sure the business can identify the essential qualities in a possible recruitment.
In a June 2025 interview with podcaster and computer scientist Lex Fridman, Sundar Pichai stated that Google is ensuring that at least one round of in-person interviews is conducted for individuals to ensure that the basics are covered.
Employees Raise Concerns About AI-Cheating in Interviews
The news story claims that the AI problem has gotten so bad that Google workers are requesting that management stop conducting remote interviews for software developers.
Because interviewees are increasingly using off-camera AI tools to generate solutions, the job role’s requirement that candidates answer real-time coding tasks has been compromised.
Online vs. In-Person: Google’s Hiring Dilemma
According to certain audio recordings from Google’s town hall meeting in February 2025, the staff was bringing up this concern with higher management.
The news portal CNBC examined the recordings and found that one employee asked, “Can we get on-site job interviews back?” “This subject is the subject of numerous email discussions. Can we bring the candidates to an office or setting that we can manage if money is a constraint?
Online Interviews are Faster than Traditional Ones: Brian Ong
The virtual interviews are two weeks quicker and easier to plan, according to Brian Ong, vice president of Google, who also acknowledged that the internet giant was facing a fundamental difficulty. Ong stated, “We definitely have more work to do to integrate how AI is now more prevalent in the interview process,” as reported in the press.
Industry-Wide Problem: Rivals Also Struggling with AI in Recruitment
According to the research, hiring managers are seeing that over 50% of candidates who show up for interviews are using artificial intelligence (AI) technologies to cheat.
As we all work in a hybrid environment, Sundar Pichai said in response to an employee, “I think it’s worth thinking about some fraction of the interviews being in person.” It will, in my opinion, benefit both applicants and help them comprehend Google culture.
Ong further emphasised that this problem is not unique to Google and that the company’s rivals are also trying to find solutions to what has turned into a “crisis affecting the entire industry”.
Quick
Shots
•Google
plans at least one on-site round for candidates.
•AI
has made virtual hiring unreliable; applicants use AI tools to cheat in
coding tests.
•In-person
rounds help assess core skills and cultural fit.
•Workers
pushed management to end remote-only interviews due to rising AI misuse.
An expert group at the Reserve Bank of India has been looking for a comprehensive AI policy framework for the financial sector in light of the growing prevalence of AI-led innovation across many industries. Such a framework would offer adaptable, future-focused direction on AI innovation, adoption, and risk reduction in the medium term.
The committee, which was established to create a framework for the ethical and responsible enablement of artificial intelligence (FREE-AI) in the financial sector, recommends that all regulated entities under the RBI establish a common infrastructure in order to democratise access to computing and data, which will ultimately result in an AI innovation sandbox.
“To act as a single point of reference for regulated entities and the larger FinTech ecosystem on the responsible design, development, and deployment of AI solutions, the RBI may consider issuing consolidated AI Guidance,” the committee stated in the study.
Why RBI is Pushing for an AI Policy?
The committee believed that a lenient supervisory approach may be restricted to a single mistake or an isolated anomaly, but that it must be rejected in the event of recurrent violations, egregious carelessness, or failure to address the concerns that were found.
In essence, the panel wants banking operations to be examined more closely and would rather that AI take care of this task, albeit with some tact and judgement.It’s not like the expert panel or the RBI are attempting to impose broad regulations on AI-driven advances.
The research briefly states that while multi-modal and multilingual AI can improve the delivery of financial services nationwide, AI offers fresh approaches to fundamental developmental difficulties. “AI has a lot to offer when applied properly. Without safeguards, it can increase already-existing risks and create new ones.
Key Elements of the FREE-AI Framework
The seven sutras are as follows: (a) confidence in the foundation; (b) prioritising people; (c) creativity over restraint; (d) equity and justice; (e) responsibility; (f) intelligible by design; and (g) sustainability, safety, and resilience. The panel noted that risk minimisation and innovation should be viewed as complementary forces rather than as opposing goals. According to the RBI’s report, this is accomplished via a single, cohesive vision that is dispersed among six strategic pillars that address risk reduction and innovation enablement.
Six Strategic Pillars of Risk & Innovation
Infrastructure, policy, and capacity are the main focusses of innovation enablement, while governance, protection, and assurance are the main focusses of risk mitigation. The report presents 26 recommendations for the financial sector’s deployment of AI under these six pillars.Building institutional capacity at all levels, developing AI models tailored to the domestic financial sector, formulating an AI policy to provide regulatory guidance, and establishing a tolerant approach to compliance for low-risk AI solutions to promote inclusion are some of the report’s 26 specific recommendations.
The panel’s recommendations for risk mitigation efforts include establishing a board-approved AI policy for all regulated businesses, extending product approval procedures, incorporating AI into consumer protection frameworks and audits, strengthening cybersecurity and incident reporting, establishing strong governance networks throughout the AI lifecycle, and raising consumer awareness of the application of AI in the financial sector.
Accenture and Qatar Airways are collaborating to use artificial intelligence (AI) technology to transform the aviation sector. The objectives of this strategic alliance are to improve overall airline group performance, maximise operational efficiency, and elevate the customer experience.
Qatar Airways and Accenture Launch AI Skyways to Transform Aviation
In order to further establish the multiple award-winning airline as a leader in aviation AI and advance technology in the area and beyond, Qatar Airways and Accenture have partnered to create “AI Skyways”.
Key Goals of the AI Partnership
With its data and platform capabilities, value realisation office that will measure and maximise the value of AI efforts, and responsible AI practices, AI Skyways will set the groundwork for delivering value-led AI initiatives throughout the Qatar Airways Group.
These will speed up the adoption of AI solutions for a range of aviation use cases, such as improving predictive maintenance, streamlining flight schedules, and customising customer interactions. This will free up Qatar Airways, which Skytrax named the World’s Best Airline in 2025, to concentrate on providing outstanding travel experiences. In order to maintain development and adaptability and bolster its resilience to shifting market demands, Qatar Airways will also be able to investigate future trends and applications of AI in the aviation sector.
Qatar Airways’ Vision as a Digital-First Airline
This programme is essential to Qatar Airways’ ongoing transformation into a digital-first company, which uses AI and other cutting-edge technology to streamline operations and improve decision-making.
According to Engr. Badr Mohammed Al-Meer, Group Chief Executive Officer of Qatar Airways, the company’s collaboration with Accenture to launch AI Skyways marks a critical turning point in its ascent to prominence in AI-driven aviation. AI Skyways will use AI to rethink a number of Qatar Airways Group functions, including operations and customer service, in order to give customers a smooth and enjoyable journey.
The collaboration will also concentrate on using AI for real-time data analysis in order to enhance operational responsiveness and decision-making skills.
Responsible AI Deployment in Aviation
Qatar Airways is putting forth great effort to create innovative AI-powered solutions that can be applied to other projects in the future. In order to ensure that the technology benefits all parties involved, the airline will implement strict ethical standards, data privacy safeguards, and ongoing monitoring as part of its commitment to responsible AI deployment.
Together, Qatar Airways and Accenture are implementing cutting-edge technologies and creative methods of operation to generate new value for the airline and its passengers, according to Julie Sweet, Chair and Chief Executive Officer of Accenture.
This goal is fuelled in large part by Duo’s AI Skyways alliance, which integrates and scales AI to provide passengers with exceptional travel experiences and increase value for the airline company.
German TikTok workers have organised fresh strikes in protest of widespread layoffs in the company’s safety and trust division. As part of a broader strategy the firm has been implementing across offices worldwide, the social media giant has announced intentions to dismantle its entire Berlin moderation section, which is in charge of eliminating damaging content, and transfer the work to artificial intelligence and outside contractors.
Berlin Moderation Team Faces Complete Shutdown
According to German media reports, the relocation will result in the loss of 150 jobs. In recent weeks, the trade union that represents the employees has pressed TikTok for negotiations.
Union Response to TikTok Job Cuts
The union issued the company a list of demands, including severance pay for impacted employees and prolonged notice periods of up to a year, according to Kalle Kunkel, ver.di’s representative for the Berlin-Brandenburg region. TikTok hasn’t responded as of yet. In essence, they replied, “We don’t want to talk to you,” Kunkel recalled. “We went on two strikes after that, but nothing has changed.”
40% Reduction of German Workforce
The Berlin moderating staff caters to the approximately 32 million active users who speak German. Despite having offices in multiple locations in Germany, TikTok’s major base is the capital, where it employs about 400 people.
Its local workforce would be reduced by nearly 40% if the trust and safety workers were cut. The proposed cuts are intended to “streamline workflows and improve efficiency”, according to TikTok spokesperson Anna Sopel, who also emphasised that “we remain fully committed to protecting the safety and integrity of our platform.”
Like teams throughout the world, Germany’s trust and safety team is responsible for making sure videos don’t contain offensive material like violence, pornography, false information, or hate speech, or they don’t break corporate policies. The union claims that each moderator examines up to 1,000 videos every day, frequently with the assistance of AI techniques.
Global Impact — Netherlands, Malaysia, and Beyond
TikTok has been reducing its trust and safety activities worldwide over the past year, gradually substituting automated technology for human moderators. The entire 300-person content moderation crew in the Netherlands was fired by the firm in September.
AI vs Human Moderators — The Debate Over Safety
It revealed intentions the following month to install AI-powered systems in Malaysia to replace about 500 moderators. Significant numbers of trust and safety employees throughout Asia, Europe, the Middle East, and Africa were being trimmed, according to a February Reuters story.
The German layoffs come after Shou Zi Chew, the CEO of TikTok, testified before the US Congress in 2024 and promised to raise funding for safety and trust. He pledged more than $2 billion at the time to help a team of more than 40,000 individuals worldwide.
Quick
Shots
•TikTok
replacing human content moderators with AI systems and external contractors.
•Part
of a global cost-cutting and efficiency drive
•Entire
Berlin trust & safety division to be shut down.
•About
150 jobs to be lost, affecting moderation for 32M German-speaking users.
