StartupTalky

Tag: #news

  • Paytm Money Settles Case for Violating SEBI Regulations by Paying Fine of INR 45.50 Lakh

    In order to resolve a case with SEBI about alleged violations of the standards for the technical fault framework, Paytm Money, the wealthtech subsidiary of Paytm, has paid a fine of INR 45.50 lakh. The market’s watchdog stated in a settlement decision that it had sent Paytm Money a show-cause notice for breaking multiple SEBI Act, 1992 provisions:

    •Failure to establish the permissible threshold of 70% for the generation of timely notifications for all critical assets.

    •Absence of documentation pertaining to the inspection period’s peak load.

    •Failing to integrate the Logs Analytics and Monitoring Application with all of its vital systems.

    •For the first half of fiscal year 2023–2024 (H1 FY24), there will be no live DR drills.

    “With a settlement order and a September 17, 2024, settlement application filed with SEBI, the noticee (Paytm Money) proposed to settle the current proceedings brought against it, pending adjudication proceedings, without acknowledging or disputing the findings of facts and conclusions of law,” the order stated.

    Regulatory Bodies Putting Strict Scanner on Paytm

    Earlier, Paytm and its directors and officials, both present and past, settled a complaint with SEBI by paying a total of INR 3.32 Cr. It is important to remember that for the past two years, regulatory agencies have been closely examining Paytm. In 2015, the Reserve Bank of India (RBI) granted in-principle approval to 11 applicants to establish a payments bank, including Paytm.

    Due to alleged violations of know your customer (KYC) standards, the central bank prohibited Paytm Payments Bank from onboarding new clients and taking deposits using its services, including FASTag and wallet, in 2024. The payments bank is essentially unable to conduct business as a result of the RBI’s crackdown.

    The Financial Intelligence Unit-India (FIU-IND) fined Paytm Payments Bank INR 5.49 Cr in March 2024 for breaking the nation’s money laundering regulations. The stock of Paytm Payments Bank plummeted as a result of the RBI’s crackdown. Additionally, Paytm’s market share in the UPI industry has decreased as a result of this.

    Response from Paytm

    Rajeev Krishnamuralilal, a former IRS and SEBI long-time member, has joined Paytm Money’s board as a non-executive independent director, the company announced in a statement. It is important to remember that One 97 Communications, the parent company of Paytm, already has Krishnamuralilal on its board. Apart from his position as a non-executive independent director, Krishnamuralilal will also be the chairwoman of Paytm Money’s risk management and corporate social responsibility committees and a member of the audit committee.

    Rajeev Agarwal Officially Joins Paytm

    Rajeev Krishnamuralilal Agarwal was appointed as an extra non-executive independent director at One97 Communications’ wholly-owned subsidiary, Paytm Money, on 13 February 2024.

    Agarwal will also assume important responsibilities, such as chairing the Paytm Money Risk Management and Corporate Social Responsibility (CSR) Committees and being a member of the Audit Committee. Having worked for the Indian Revenue Services (IRS) for 28 years, Agarwal brings more than 40 years of expertise to the position. He has worked for the Securities and Exchange Board of India (SEBI) as a full-time member.

    RBI Removes Restrictions on Online Customer Onboarding at Kotak Mahindra Bank
    The RBI has lifted restrictions on Kotak Mahindra Bank’s online customer onboarding, allowing the bank to resume digital account openings and other services.
    StartupTalkyNitin Konde

  • OpenAI in Negotiations to Establish Data Centre in India

    According to a media outlet, OpenAI, the company behind ChatGPT, has started the process of establishing data centre operations in India. Data from users in India and a few of its smaller bordering nations is probably stored at the hub. According to sources cited in the story, OpenAI is now speaking with a few data centre operators, although these are only the very beginning stages of their strategy.

    They could need some time to go over specifics like the venue and capacity. According to the report, the AI behemoth is eager to finish the procedure by 2025 but has not established a deadline. The majority of OpenAI’s servers are housed in data centres in the US state of Texas. The creator of the well-known chatbot serves consumers worldwide, including those in India, by utilising Microsoft’s Azure Cloud services.

    India Second Biggest Market for OpenAI

    CEO Sam Altman stated during his recent trip to India that the country is OpenAI’s second-largest market, with a threefold increase in users in the last 12 months. “I observe that folks in India are utilising AI in various aspects of the stack, including chips, models, and other amazing applications. Therefore, I believe that India ought to take the lead. During a fireside talk with IT minister Ashwini Vaishnaw on February 5, Altman stated, “I believe India should be among the leaders of the AI revolution.”

    “That’s a reference to a comment I made here a few years ago about cost,” Altman said, attempting to elucidate a statement that caused controversy on his previous visit to India. That might have been taken out of context. At that particular moment, there was a scaling issue, and I still believe it is costly to remain on the cutting edge of pre-trained models,” he said.

    He was questioned if a small team could produce a substantial AI model on a $10 million budget while he was in India in 2023. “It’s totally hopeless to compete with us on training foundation models,” he’d stated. It was long before the low-cost AI helper from Chinese company DeepSeek rocked the IT industry.

    Tug of War Between Open AI and Chinese DeepSeek

    Sam Altman’s tour takes place at a time when OpenAI is facing significant challenges due to the emergence of DeepSeek, a Chinese AI search engine platform that claims to have developed AI models that can compete with the best models from US firms like OpenAI, Meta, and Google at a far lower cost. India has one of the biggest populations and developer pools in the world.

    OpenAI will be able to increase its earnings by establishing a physical base in the nation. The trip coincides with a wave of copyright infringement cases against the AI giant for allegedly exploiting local digital platforms’ and book publishers’ content to train its chatbot ChatGPT without permission.

    Meanwhile, OpenAI has apparently started talking about data localisations in an effort to ward off any additional regulatory obstacles. The corporation wants to store its Indian consumers’ data in the nation itself as part of this. Since India is one of the company’s largest developer ecosystems, OpenAI is naturally seeking methods to increase its presence there.

    In preparation for the Digital Personal Data Protection Act of 2023, it has already started talking about ways to localise the data of its Indian citizens in domestic data centres. A person with knowledge of the development told Livemint that the drive to localise data operations is probably going to start soon.

    DeepSeek to Operate on Indian Servers, Says Union Minister
    Union Minister confirms DeepSeek will soon run on Indian servers, addressing privacy concerns and enhancing data security for Indian users.
    StartupTalkyNitin Konde

  • MeitY’s DPDPA Draft Feedback Period Has Been Extended Until March 2

    Feedback on the draft Digital Personal Data Protection (DPDP) Rules, 2025, is due in 15 days, according to reports from the Ministry of Electronics and Information Technology (MeitY). The deadline will be moved from February 18 to March 3, 2025, a government official told a media house. An official notification confirming the extension is anticipated shortly, according to a media report. The provisional terms for implementing the DPDP Act, which was approved by Parliament in 2023, were outlined in the government’s January 3 release of the draft DPDP Rules, 2025. When the rules are finished and published, they will give the DPDP Act, which was published in the gazette on August 12, 2023, teeth.

    What New DPDP Act Says?

    Users under the age of 18 are considered children under the DPDP Act, which requires social media companies and online middlemen—also referred to as data fiduciaries—to have express parental approval before processing their data. According to the draft regulations, digital platforms can only process a child’s data with verifiable parental or guardian consent, which can be verified by a virtual token issued by an authorised body or voluntarily supplied identifying details. Before processing any child’s personal data, MeitY has suggested that all data fiduciaries put in place the proper organisational and technical safeguards to guarantee compliance.

    Tech Companies Meeting Government to Carve a Perfect Act

    The founders of a number of cutting-edge tech firms, including MobiKwik, OYO, ixigo, and Razorpay, reportedly met with government representatives last month and expressed their worries on the proposed regulations. According to media reports, the talks focused on the role of consent managers, cross-data transfer provisions, and overlap with other sectoral legislation. The Centre’s decision to target data fiduciaries for data privacy is likewise viewed by many experts as a flawed strategy. Ashwini Vaishnaw, the union minister, previously stated that the DPDP regulations will be further improved to shield kids from the risks associated with the internet.

    Deleting Personal Data of Inactive Users

    According to the new regulations, companies have three years to remove the personal information of inactive users from their sites. Data fiduciaries must notify the Data Protection Board within 72 hours of any data breach. When a data breach occurs, data fiduciaries operating in India will also have to notify each user in “a concise, clear, and plain manner and without delay, through her user account or any mode of communication” that the user has provided.

    The nature, scope, timing, and location of the data breach; its effects on the user; the steps being taken to mitigate the risk; and the contact details of the person the user can contact with any questions about the data breach are all included in these details. When an organisation experiences a breach, it must notify the board of the specifics, including the type and scope of the breach, the individuals or incidents that caused it, the corrective actions being taken, and a report on the information provided to the platform users affected by the breach.

    India’s AR Developer Community Grows by 50% in Two Years: Snapchat CTO
    Snapchat CTO reveals that India’s AR developer community has grown by 50% in just two years, highlighting the rapid adoption of augmented reality technology.
    StartupTalkyNitin Konde

  • Following the US ‘de minimis’ Repeal, Shein’s IPO will be Postponed Until the Second Half

    A renowned media house reported on 14 February that Donald Trump’s decision to repeal the so-called “de minimis” criteria is likely to delay fast-fashion company Shein’s plans to float on the UK stock exchange until the second half of this year. According to reports last month, Shein planned to go public in London in the first half of this year, provided it received approval from Chinese and UK regulators. The Trump administration’s announcement that it would eliminate the de minimis tariff exemption in the US, an import regulation that has assisted Shein in maintaining cheap costs, has cast doubt on the company’s future.

    Trump’s Opening Salvo

    Analysts and industry experts had previously warned that the elimination of the exemption might affect Shein’s profitability and raise product costs in the US, which is its largest market.

    According to a media outlet that cited persons familiar with the talks, the fast-fashion retailer had previously informed investors that a London listing might take place as early as this Easter. In what he described as an “opening salvo” in a conflict between the two biggest economies in the world, Trump imposed an additional 10% tariff on China, which included the removal of de minimis. According to a 2023 study by the US congressional committee on China, Shein and rival Temu likely accounted for over 30% of all parcels transported to the US daily under the de minimis rule. Shipments under $800 were excluded from import taxes under the proposal.

    According to several media reports last week, Shein was planning to reduce its valuation in a possible listing to about $50 billion, which is about a quarter less than the company’s 2023 fundraising estimate of $66 billion, due to mounting challenges.

    Shein Return to India

    Nearly five years after the fast-fashion giant’s app was blocked in India due to rising diplomatic tensions between India and its neighbour, China, Isha and Mukesh Ambani’s Reliance Retail has successfully reintroduced Shein in India. Shein has returned to one of Asia’s biggest retail markets with the recently released Shein India Fast Fashion app, which was created under a license agreement with Reliance.

    Reliance’s control over operations and data, with all consumer information retained in India, is one of the strict requirements attached to this agreement. The action also represents a change of strategy for Reliance, which aims to expand its online presence by providing Shein’s well-liked, reasonably priced clothing on a completely localised platform.

    Nearly five years after its app was banned in India due to diplomatic concerns between China and India, Reliance Retail has formally restored its presence in the country by launching a new app to sell fashionwear from China’s Shein. According to sources, the app, Shein India Fast Fashion, was secretly released on Saturday morning; however, Reliance has not yet released an official statement.

    Shein Returns to India with Mukesh and Isha Ambani’s Backing
    Shein is making a comeback in India with Mukesh and Isha Ambani’s backing, partnering with Reliance to re-enter the market after being previously banned.
    StartupTalkyNitin Konde

  • Disney+ Hotstar and JioCinema Join Forces Under the JioHotstar Title

    JioStar, the recently established joint venture between Viacom18 and Star India, has formally announced the debut of JioHotstar, a single streaming platform that combines JioCinema and Disney+ Hotstar, putting an end to months of suspense. By combining a sizable content collection from the two streaming behemoths under one roof, the deal represents a significant consolidation in India’s OTT market.

    At first, JioHotstar would provide users with free access to films, television series, and live sports during specific hours. Starting at INR 149, the portal will also launch a variety of subscription plans catered to the varied tastes of its audience. According to the corporation, JioHotstar will be a seamless transfer for current JioCinema and Disney+ Hotstar customers.

    According to a statement from Kiran Mani, CEO of JioStar’s digital division, JioHotstar has a compelling vision: to genuinely make luxury entertainment available to all Indians. Entertainment is now a shared experience for everyone rather than a luxury thanks to brand claims of “infinite possibilities.” The partnership is personalising material like never before by including AI-driven suggestions and providing streaming in more than 19 languages.

    How Collaboration will Operate?

    Following the integration, JioHotstar will have a ten-language content library with a selection of TV series, original productions, reality shows, movies, anime, and global premieres. JioHotstar will also stream elite competitions, such as ICC events, the Indian Premier League (IPL), and the Women’s Premier League (WPL), among others, further solidifying its standing as a top sports destination. In addition to cricket, the platform will feature domestic league matches like Pro Kabaddi and the Indian Super League (ISL), as well as international sporting events including Wimbledon and the Premier League.

    According to Sanjog Gupta, CEO of JioStar’s sports vertical, the recently established company is dedicated to providing an experience that is as immersive as being in the stadium itself, whether it’s the intense Premier League matchup, the drama of the Champions Trophy, or the high-octane IPL. With the tremendous reception to Coldplay’s Music of the Spheres webcast, we see this innovation go beyond sports, and the corporation is eager to keep innovating.

    Tweaking the Business Strategy

    Instead of offering free streaming for IPL cricket matches, the joint venture plans to change its approach. JioHotstar will instead use a hybrid model, letting consumers watch matches for free up to a point, after which they will need to subscribe to continue. This comes after Reliance and Walt Disney agreed to combine their media businesses in India for $8.5 billion last year. After being approved by the Competition Commission of India (CCI) in August 2024 and finalised in November of last year, the deal has produced a media powerhouse with over 100 TV stations, two streaming services, and an estimated 750 million users.

    Viacom18 has been strengthening its leadership team to guide the combined company as it unifies its activities under the newly established JioHotstar. Ishan Chatterjee, a former YouTube executive, was named the old JioCinema’s chief business officer (CBO) in October 2024 to spur expansion, while Mani, the former top boss of JioCinema and Google, was given the responsibility of leading JioStar’s digital division.

    The combined OTT platform will now face off against giants worldwide like Netflix and Amazon Prime Video. While Zee5 and SonyLIV are now distant competitors in the streaming battle due to the failed Zee-Sony merger, Amazon is actively pursuing India’s mass-market audience after its MX Player merger.

    Jio Platforms Partners with Confluent to Support GenAI Use Cases in India
    Jio Platforms collaborates with Confluent to accelerate GenAI adoption in India, enhancing AI-driven applications with real-time data streaming solutions.
    StartupTalkyNitin Konde

  • ED Seizes INR 1,646 Cr in Assets Amid Global Crypto Scandal

    According to reports, the Enforcement Directorate (ED) made one of the largest seizures in a single search operation by an Indian agency, seizing assets valued at INR 1,646 Cr ($189.5 Mn). According to a media report, the operation was a component of a US-led probe into a $2.4 billion cryptocurrency “ponzi” scam that reportedly defrauded hundreds of investors across more than 40 nations. According to the report, which cited sources, the ED tracked Bitconnect founder and scandal mastermind Satish Kumbhani to Ahmedabad. Following his indictment in the scam by a US district court, where he was charged with operating a global Ponzi scheme under the guise of a Bitconnect loan scheme, Kumbhani fled into hiding.

    What Next?

    Kumbhani will soon be questioned by the ED and is probably going to be arrested, according to the report. There is a “look out circular” against him. The ED is seeking to return the proceeds of crime to the victims of the scandal, including overseas nationals, following the seizure of cryptocurrency assets on February 12. The BitConnect creator was charged by a grand jury in San Diego, California, in 2022 with “orchestrating” a global cryptocurrency Ponzi scam. In a court filing at the time, Richard Primoff, an attorney for the US Securities and Exchange Commission, stated that Kumbhani had moved from India to an unidentified address abroad.

    Modus Operandi

    In addition to running an unauthorised money transmission business and conspiring to commit international money laundering, Kumbhani was charged with conspiracy to commit wire fraud and price manipulation. Kumbhani asserted in 2016 that he had developed the BitConnect blockchain and started a lending operation with native tokens known as BitConnect Coins (BCC). According to reports, he tricked investors into funding his phoney cryptocurrency business by making unrealistically high returns. BitConnect’s market capitalisation peaked at $3.4 billion during its heyday.

    However, following cease-and-desist orders from North Carolina and Texas regulators, BitConnect shut down its exchange in January 2018. Glenn Arcaro, the director and promoter of BitConnect, entered a guilty plea in a federal court in September 2021 for his involvement in a large-scale conspiracy involving the cryptocurrency network.

    The most recent development coincides with certain significant controversies that have recently rocked the cryptocurrency industry. A security breach at the cryptocurrency exchange WazirX occurred in July of last year, resulting in the theft of $234 million worth of cryptocurrencies. In the meantime, in October of last year, Delhi Police and cryptocurrency exchange Binance teamed up to uncover a sophisticated scam run by a bogus organisation called “M/s Goldcoat Solar.” This resulted in several arrests and the confiscation of more than one lakh USDT in bitcoin assets.

    RBI Removes Restrictions on Online Customer Onboarding at Kotak Mahindra Bank
    The RBI has lifted restrictions on Kotak Mahindra Bank’s online customer onboarding, allowing the bank to resume digital account openings and other services.
    StartupTalkyNitin Konde

  • Supporting GenAI Use Cases in India, Jio Platforms Collaborates with Confluent

    Jio Platforms Limited and Confluent, a data streaming business based in California, have teamed together to promote the growth of real-time and GenAI use cases in India. Jio Cloud Services will offer Confluent Cloud as part of the deal, enabling companies in India to begin using data streaming without any problems. As data streaming is essential to enabling real-time analytics and GenAI developments, this partnership is expected to strengthen India’s digital infrastructure, an official statement said. Data streaming is essential for companies to keep ahead of consumer trends, including advances in artificial intelligence, as Confluent is poised for rapid transformation in India, according to Kiran Thomas, president and CEO of Jio Platforms Limited.

    How the Collaboration will Operate?

    Confluent will handle all of the essential components of streaming services on Jio Cloud Services, including connecting, processing, controlling, and streaming data.  Offering enterprise-grade security and governance to safely handle massive amounts of data, Confluent Platform will be made available as a managed service to Indian consumers and businesses, including the public sector.

    Indian Prime Minister Narendra Modi recently urged international cooperation to create governance and standards that preserve common values at the first AI Action Summit, which was held in Paris. Given its diversity, India is creating its own large language model (LLM).

    We are creating AI apps for the general public’s benefit. The PM asserted, “We have the largest pool of AI talent in the world.” Ashwini Vaishnaw, the union minister, recently announced that India intends to develop its own fundamental AI model over the next ten months, revealing the country’s attempt to create its own LLM.

    Government Offering a Massive Support to Develop AI

    Vaishnaw added that in the coming days, the government will provide entities nationwide with 18,000 top-notch GPU-based computing facilities for AI development, allowing the creation of the AI model. While the nation’s leader emphasised the advantages AI can offer humanity, the Indian Economic Survey 2024–25 emphasised the enormous threat AI poses to the nation’s labour market in terms of employment disruption. According to the Economic Survey, which cited studies from the International Monetary Fund, the International Labour Organisation, Goldman Sachs, and other organisations, AI-led automation may present difficulties for the Indian labour market and economy.

    About Confluent

    The data streaming platform Confluent is leading the way in a radically new class of data infrastructure that moves data. The core platform for data in motion is Confluent’s cloud-native solution, which is intended to act as the intelligent connective tissue that allows real-time data from many sources to continuously flow throughout the company. Confluent helps businesses achieve the new business imperative of moving to complex, real-time, software-driven backend operations while providing rich, digital front-end customer experiences.

    India Must Be at the Forefront of AI Revolution: Sam Altman
    OpenAI CEO Sam Altman emphasizes India’s role in the AI revolution, urging the nation to take a leadership position in artificial intelligence development.
    StartupTalkyNitin Konde

  • RBI Removes Restrictions on Online Customer Onboarding at Kotak Mahindra Bank

    According to the Reserve Bank of India (RBI), Kotak Mahindra Bank is now free to continue issuing new credit cards and onboarding new clients online after restrictions were removed. This follows the RBI’s decision in April of last year to stop Kotak Mahindra Bank from accepting new clients via its mobile and online banking platforms. Additionally, it was prohibited from issuing new credit cards by the central bank. The RBI observed that the bank has submitted compliance and taken action to resolve the previously raised supervisory concerns.

    The RBI further emphasised that an external audit was conducted on the bank to confirm these compliances. The central bank stated in a statement released on February 12 that in order to confirm the compliance, the bank also hired an outside auditor with RBI’s prior consent. The Reserve Bank has now chosen to remove the aforementioned restrictions imposed on Kotak Mahindra Bank Limited after being satisfied with the bank’s representations and corrective actions.

    Why RBI Barred Kotak Mahindra Bank?

    It is important to remember that the RBI subsequently banned the bank, stating that it had concerns after conducting an IT investigation of the bank and that the bank had “continued” to fail to adequately and promptly resolve these concerns. The RBI went on to state that significant shortcomings and non-compliances were found in the following areas: vendor risk management, business continuity, disaster recovery rigour and practice, patch and change management, user access management, IT inventory management, and data security and data leak prevention strategy.

    Over the years, the RBI has been examining banks and other financial organisations more closely. The country has also witnessed the central bank crack down on Paytm last year, which resulted in the closure of Paytm Payments Bank on March 15. Persistent compliance problems and supervisory worries, including infractions of customer due diligence regulations, were among the reasons given. Similar limits were imposed on HDFC Bank by the RBI in 2020, which prevented the bank from obtaining new credit card clients and from commencing its upcoming digital business-generating initiatives. But nearly two years later, in 2022, HDFC Bank was freed from this restriction.

    RBI Enhancing Security Features of India’s Banking Services

    The central bank has made a number of steps to better oversee the rapidly expanding digital banking and lending industry, even as its grip on surveillance is clear. In an effort to fight financial fraud, the central bank most recently announced during its monetary policy meeting on February 7 that it would launch an exclusive domain name for Indian banks, “bank.in.”

    The RBI released digital lending rules in 2023 with the goals of protecting consumers, safeguarding data, and monitoring unlicensed technology partners engaged in lending. It released a framework for fintech self-regulatory organisations (SROs) in September 2024 with the goal of advancing accountability, transparency, and consumer protection.

    ONDC Postpones Network Charge Implementation to April 1st
    ONDC has postponed the installation of network charges until April 1st, allowing more time for businesses and stakeholders to adapt to the upcoming changes.
    StartupTalkyNitin Konde

  • OpenAI Disputes Claims That It Trained ChatGPT With Material From Indian Media

    Major Indian media organisations have attempted to join a copyright case against OpenAI, the firm behind the well-known AI chatbot ChatGPT, but OpenAI is retaliating. A media report claims that the company has contended in a recent court filing that it is not required to sign into licensing agreements with Indian media companies and does not utilise their content to educate ChatGPT. Media companies owned by prominent figures like Mukesh Ambani and Gautam Adani are among the Indian media groups that have alleged OpenAI for using their content without any license or agreement.

     In a 31-page court filing, OpenAI denied allegations that it uses content from its website to train its artificial intelligence model. The filed documents are a reaction to a lawsuit filed by a well-known Indian news organisation. The latter claims that OpenAI has copied its news articles without permission.

    Indian Media Joining Forces to Fight with AI Giant

    The case was filed by ANI in November 2023. A group of Indian publications has joined the action, including the Digital News Publications Association (DNPA), which represents Ambani’s Network1, The Indian Express, Hindustan Times, and NDTV (owned by Adani). These media outlets have accused OpenAI of using their websites to train ChatGPT by unauthorizedly scraping content.

    The lawsuit filed by ANI is demanding damages of 20 million rupees ($230,000), according to a report from an international media outlet. This is the first legal obstacle that OpenAI has faced in the Indian market, which is also the company’s second-largest market. The case may have a significant impact on how AI businesses manage Indian internet content. In its legal response, OpenAI has insisted that it does not rely on information from the Indian media groups involved in this lawsuit and that it trains its AI models using publicly available data.

    Open AI Navigating to Troubled Waters

    Since November 2022, when OpenAI began making ChatGPT accessible to the public, the company has been the subject of allegations from a variety of sources that the AI chatbot was trained using copyrighted content. Eight American newspapers, including The New York Times, The New York Daily News, The Chicago Tribune, The Denver Post, and others, are suing Microsoft and OpenAI, claiming that ChatGPT trained the chatbot on copyrighted news stories without authorisation or payment.

    Five of Canada’s most well-known news organisations also brought a similar copyright infringement action against OpenAI, according to a media report. OpenAI OpenAI has defended its conduct by asserting that it is “impossible” to develop practical AI models like ChatGPT without using copyrighted material and that its usage of copyrighted materials is in accordance with “fair use” rules. Please check Indiatimes News for other global news and current events.

    India Must Be at the Forefront of AI Revolution: Sam Altman
    OpenAI CEO Sam Altman emphasizes India’s role in the AI revolution, urging the nation to take a leadership position in artificial intelligence development.
    StartupTalkyNitin Konde

  • In Just Two Years, the Number of AR Developers in India has Increased by 50%: CTO Snapchat

    According to Bobby Murphy, global chief technology officer (CTO) of Snapchat, the augmented reality (AR) developer ecosystem in India has expanded by over 50% over the last two years. Murphy added that the nation produced the most lenses posted on Snapchat while speaking at the second annual India AR Day in Mumbai. For those who are unaware, lenses are augmented reality experiences that show up within the Snapchat camera.

    India is the country with the most lenses published on Snapchat out of all others. Additionally, within the past two years, the developer community has expanded by more than half. “India is a remarkable nation where AR has permeated everyday life,” Murphy added. The business claimed in a statement that over 3.75 lakh developers have created over 4 million AR lenses as part of its worldwide AR developer network.

    Developers Pooling in from Metros as Well as Small Cities

    According to Snapchat, the state capital and other Indian regions, including Goraya, Prayagraj, Cochin, and Ambala, are home to the company’s AR developers. According to Pulkit Trivedi, managing director (MD) of Snapchat India, the nation is home to over 200 million Snapchat users. “A vibrant community of developers and innovators in India is influencing the direction of augmented reality.

    We think a robust developer ecosystem is essential to AR’s long-term success, and we’re still steadfastly dedicated to building this active community,” Trivedi continued. The social media giant further explained its focus on India by stating that it trained developers to create their first AR lenses by holding events like “Lens Studio meet-ups” in places like Surat, Coimbatore, Rajkot, Trichy, Trivandrum, and Gwalior. More than 6,000 AR developers reportedly attended the 120 “meetups” that Snapchat conducted in 2024.

    Revealing the Spectacles AR glasses

    Additionally, Snap showcased Spectacles, its fifth-generation see-through augmented reality spectacles, which were initially introduced in the US in September 2024. Snap OS, a brand-new operating system created just for the social media network to power its next AR products, powers these AR spectacles.

    Without the need for controllers, the operating system’s natural interface puts the main menu in the palm of the user’s hand using their hands and voice. Currently, the company’s AR authoring software, Lens Studio, only allows developers to access it through the Spectacles Developer Program.

    Additionally, Snap and OpenAI have teamed up to give developers access to multimodal big language models, which will make it simple for them to create lenses that can detect items in their environment and provide additional information. According to Jayashankar, they make heavy use of GenAI to assist non-developers or inexperienced developers in becoming Lens makers by merely prompting them to publish. Along with workshops and events, the firm also hosts Lensathons, which are hackathons in which developers collaborate with Snap specialists to create lenses or improve the Spectacles and expand the platform’s experiences.

    ONDC Postpones Network Charge Implementation to April 1st
    ONDC has postponed the installation of network charges until April 1st, allowing more time for businesses and stakeholders to adapt to the upcoming changes.
    StartupTalkyNitin Konde