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  • Reasons Why the Indian government wants to Ban Cryptocurrency

    Indian Government is planning to introduce a new bill that will ban all the private cryptocurrencies in the country. The government has plans to ban cryptocurrencies such as bitcoin and Ethereum and to introduce a national cryptocurrency. The new bill is planned to be introduced in the lower house of the parliament.

    History of Cryptocurrencies in India
    Reasons for ban of Cryptocurrency in India
    Cryptocurrency and Regulation of Official Digital Currency Bill
    e-Kuber
    FAQ

    History of Cryptocurrencies in India

    This bill is not considered to be the first time the Indian Government has been against the purchase of digital assets in the country. In the year 2018, the Indian government panel had proposed to ban all the cryptocurrencies in the country and had suggested that the offenders would be put in jail for a period of 10 years.

    In the same year, the finance minister Arun Jaitley had said that The Government of India doesn’t consider the cryptocurrencies legal. He said that it is not considered as a digital asset or a payment method and that the Government would take all legal actions to stop the use of these digital coins for payment activities. The government had stated that it was not approved by them and it was illegal.

    The monetary regulator of the country had later banned the use of cryptocurrencies in the year 2018. The ban was after the reporting of a number of fraudulent activities related to cryptocurrencies. However, the ban was later removed by the Supreme Court of India in March 2020.

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    Reasons for ban of Cryptocurrency in India

    There has been a lot of anxiety and fear across the country regarding the ban of cryptocurrencies. It is said that there are around 75 Lakh Cryptocurrency owners in the country. Their holdings have a worth of up to $1 billion.

    One of the other major reasons for the ban of cryptocurrencies in the country is because of the Aadhar card. It is said that the ban of cryptocurrencies would have been already put in action several years ago by the Government without any intention.

    The unintentional ban is supposed to be when the government introduced the Jan Dhan-Aadhar-Mobile trinity during the rule of the Modi Government in India. Aadhar was a huge project undertaken by the country which required the citizens of India to register into the financial system of the country by using a unique identification number. The Government wanted to use that network to directly send subsidies.

    Brent Johnson who is the Chief executive of the San Francisco Santiago Capital which is U.S based company has said that Aadhar could be the reason for the Government to introduce the new bill in the country. Because the Aadhar card was a project to ensure that all the citizens had an account with the government, their ID’s and payments.

    As of March 2020, the unique identification authority has issued over 122 crore Aadhar cards in the country which covers up to 90% of the Indian population. Out of 110 crore bank accounts in the country around 96 crore accounts have been linked to Aadhar cards according to UIDAI.

    Brent Johnson also added that, if the mobile network connection is taken into consideration regarding the Aadhar card it would seem like it is safe for the Government of India to create a network to issue of its own cryptocurrency in the country which would be accessible to everyone.

    Bitcoin price in U.S Dollars
    Bitcoin price in U.S Dollars

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    Cryptocurrency and Regulation of Official Digital Currency Bill

    The bill that will be introduced is called as “Cryptocurrency and Regulation of Official Digital Currency Bill”.  The main intention of the bill would be to create an easy way to provide support to the new digital currency introduced by the Reserve Bank of India.

    The bill also concentrates on banning all the private cryptocurrencies in India. The ban will also improve the chances to increase the demand of the National Currency issued by the Government of India.

    It is considered that there will be certain exceptions because the Government of India would require the underlying technology of the bill which is the blockchain technology.

    Brent Johnson said that the government would most probably want to use the advantage of Aadhar cards to issue its own cryptocurrency and would want to avoid competitions.

    e-Kuber

    The recent move of the Reserve bank of India which allowed the retail investors of the country to register with e-kuber. It helps the retail investors to open an account with the portal which helps in purchasing government bonds in primary and secondary markets.

    This new portal has raised a curiosity amongst the people in the country. The market participants feel that this would be the portal for issuing the National Digital currency in the country.

    FAQ

    In Which countries Bitcoin is illegal?

    Inspite of its rising popularity, cryptocurrencies are illegal in these countries. Saudi Arabia, Algeria, Bolivia Algeria, Ecuador, Bangladesh, Nepal, Macedonia.

    Who is the richest Bitcoin owner?

    Satoshi Nakamoto, the founder of Bitcoin, rumored to own around 1 million Bitcoins.

    How safe is Cryptocurrency?

    Cryptocurrency is considered as one of the riskiest digital currency.

    Conclusion

    The Deputy Governor of RBI, BP Kanungo has told that an internal part of the Reserve Bank of India is working on the model for the cryptocurrency and that RBI would soon give more information regarding it. If they don’t ban cryptocurrency, many investors might get a new revenue stream and most of the youth will invest in it. However, the government has experts who knows better than us. Hence, we must respect whatever decision they take.

  • Why BMW is Investing in CO2 Free Steel Production?

    BMW i Ventures is a venture capital fund that is based in Europe. BMW i Ventures invests resources and money in startups in the fields of e-mobility, artificial intelligence, autonomous driving, digital car and automotive cloud, sustainability, and so on. The firm has already partnered with innovative companies such as Alitheon, Chargepoint, Tekion, and many more.

    BMW i Ventures invests in all stages of a startup from seed and incubation to growth companies. The company is all set to invest in a startup called Boston Steel which would produce carbon dioxide-free steel.

    Why BMW decided to Invest in CO2 Free Steel Production
    Reason
    The Process
    Methods taken by BMW Group towards Sustainability
    FAQ

    Why BMW decided to Invest in CO2 Free Steel Production

    The BMW Group is systematically trying to implement its goals to avoid depletion of natural resources. They are trying to focus on maintaining ecological balance through its new method. BMW Group is investing in a company that has an innovative method to produce Steel that is free of carbon di-oxide.

    It is a method developed by an American Startup called Boston Metal. BMW is providing venture capital funds to the Boston Metal through BMW i Ventures.

    The company has plans to expand its production of steel which is free of CO2 at an industrial level in the coming years. BMW is investing in the startup as its method to reduce the emission of CO2 within its suppliers’ network.

    Global revenue of BMW Group
    Global revenue of BMW Group

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    Reason

    BMW has said that they were significantly trying to maintain ecological balance and working towards sustainability. They were trying to identify the raw materials and components in their supplier network which produces a high amount of CO2 and that was steel.

    Steel is very important for the production of cars and even if they were planning to produce electric cars which run through green energy. The company will still have to use the steel for manufacturing. It will be important even for future car productions.

    Steel will always remain an important raw material for the production of cars and other parts in it. BMW group press plants in Europe produce more than half a million tones of steel every year and they have continuously been trying to reduce the CO2 emission from their productions.

    Dr. Andreas Wendt who is a member of the Board of Management of BMW AG who is responsible for Purchasing and Supplier Network. He told that by 2030 they are trying to reduce the CO2 emissions to be lower than two million tones compared to the present.

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    The Process

    In the general method of production of steel, the blast furnaces are used which would generate carbon dioxide. But the startup Boston Metal uses a new technology through electricity. The company uses an electrolysis cell that will produce molten iron. This molten iron is later converted into steel.

    If the electricity used for this process is through a renewable source of energy, then the steel produced will be free of carbon dioxide. The startup is set to build the demonstration facilities required for the production of steel in the coming years and later has plans to expand it to the industrial level.

    Tadeu Carneiro who is the chairman and CEO of Boston Metal has said that they have investors across the steel value chain who are from the top iron ore and mining companies to the end customers. He says that they validate and support the innovative process of production of steel at high quality and cost competitively.

    Methods taken by BMW Group towards Sustainability

    BMW group has said that they have ambitious targets to increase the use of green energy and innovative technologies to increase sustainability. They said that investing in projects like Boston Metals is one of the steps they are taking to meet its steel supply chain. BMW group has said that for every contract low-carbon production is an important award criterion.

    BMW Group has also said that it is important for their partners also to be committed towards sustainability and to use new technologies which have low carbon emissions. They added that the use of green power is really important and that they have already been working with suppliers who use green power for the steel they produce for them.

    BMW group has said its goal to safeguard the reserves of raw materials by reusing the raw materials. It has plans to increase the percentage of the use of recycled raw materials by 2030. All the steel wastes during the production process are recycled and reused as direct material or it is sent back to the production cycle and used as new steel.

    The recycling of the waste steel would reduce the emission of carbon dioxide, it helps in conserving the natural resources and reduces the amount of energy required for the production of new steel.

    FAQ

    Who are the founders of BMW?

    Karl Rapp, Camillo Castiglioni, Gustav Otto, Franz Josef Popp are the founders of BMW.

    When was the first BMW made?

    First BMW was made in 7 March 1916, in Munich, Germany.

    Is Rolls-Royce owned by BMW?

    Rolls-Royce was bought in 1998 by the Volkswagen Group, but they neglected to acquire the rights to the Rolls-Royce name. BMW bought those rights that same year, and took over production of Rolls-Royce cars in 2003.

    Conclusion

    The BMW Group had maintained a close relationship with Boston Metals from last year through its own research activities and through the BMW Startup Garage. BMW startup garage shares ideas with around 1,000 startups every year.

    It is mainly focused on seeking innovations that will benefit the products and services of the company. BMW startup garage helps the BMW Group in having an early access to innovations before it is available to the market.

  • What are Stocks & Bonds and Which one is Right for You

    Stocks and bonds should be a common term that everyone should know. But sadly, most of us don’t have adequate knowledge on what a stock or bond is. Here we can look at the meaning of stocks and bonds and even analyze which one is the best option for you as an individual.

    What are Stocks
    Benefits of Stocks
    What are Bonds
    Benefits of Bonds
    Which one is Right for you
    FAQ

    What are Stocks

    Stocks represents the ownership of a fraction of a corporation. Most of the time when a company requires extra capital, they list their company’s stocks on the stock market. In simple terms, they sell a part of the share of their company to the general public and in return, they would receive money.

    When you buy a share of the company you become an owner of the company. The person who buys the shares of the company will be called an investor and the company which lists their stocks will be a Public limited company.

    The companies will have to show their business activities every year to the general public. It will be available to each and every individual even if you don’t hold a share in the company.

    There are two groups of people in the stock market. One group are investors who buy the shares of companies and hold them for years expecting the share prices to rise. The second group is traders – they buy and sell different shares of different companies in a short period of time mostly in a single day.

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    Benefits of Stocks

    Stocks are considered to be risky. But if invested wisely you would get unimaginable returns from it. Stocks are also called as equities. People consider stocks as one of the investment options. Stocks have proven to beat the inflation rates over the years and is a form of security that shows that you hold a piece of ownership in the company.

    Certain companies even provide dividends to their stockholders. Dividends are part of the profits the company earns during the year. So, in addition to the increasing of the value of stocks, you would even receive a part of the company’s profits with it.

    Bombay Stock Exchange
    Bombay Stock Exchange

    What are Bonds

    Bonds are also a financial instrument. In simple terms, if the company or the government requires money, they issue bond certificates. Sometimes government would require some funds to develop a new road or come up with new infrastructure in the city or companies. The government would want to open new branches at that time so they would opt to raise funds through the issue of bonds.

    When you buy a bond certificate you are lending money to the government or the companies. They will have to pay back the money they owe you plus the interest.

    There are different types of bonds and there are agencies that rate the bond. The bond certificates with the highest rating will be the safest bond and vice versa.

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    Benefits of Bonds

    Bonds are less risky than shares. They provide higher returns compared to bank deposits. There are certain bonds that are tax-free or even charged less tax compared to other instruments. Bondholders will have more preference than shareholders in a company.

    If the company is closing down, the bond holders will be paid first and then the shareholders will be paid. However, while buying a bond one should wisely choose it according to the credit ratings given to the bonds and a proper check about the company issuing the bonds.

    Which one is Right for you

    Stocks and bonds have their own advantages and disadvantages. Stocks are considered to be riskier than bonds. Whereas stocks can provide really high returns than bonds. If you are ready to take high risks you can invest in stocks but if you want comparatively lower risk then you can go for investing in bonds.

    However, one cannot blindly invest in either stocks or bonds. Before you invest in stocks you will have to learn the basics of the stock market, fundamental and technical analysis. You should always do your own research before investing in stocks and never invest based on anyone else’s advice.

    Even investing in bonds requires prior research. You will have to check the ratings and then invest in bonds. Certain investors invest in bonds and stock markets together to manage their risk. They will invest in proper ratios so that they will be able to get an average return from both instruments.

    Choosing to invest in stocks or bonds can be according to your risk appetite.

    FAQ

    What are the 4 types of stocks?

    Growth stocks, Yield stocks, IPOs, and Defensive stocks are the 4 types of Stocks.

    What is the safest investment?

    Certificates of deposit (CDs), money market accounts, municipal bonds and Treasury Inflation-Protected Securities (TIPS) are among the safest types of investments.

    What stocks lost the most in 2020?

    Occidental Petroleum Corp, (OXY) Coty (COTY), Marathon Oil Corp, (MRO) TechnipFMC (FTI), Carnival Corp. (CCL) stocks lost the most in 2020.

    Conclusion

    If you do not have the time to do the research of a company there are companies that invest on behalf of you. There will be fund managers who would invest your money on behalf of you and provide you with the returns. Those are called Mutual fund companies. Now there are apps like Groww, smallcase, Etc., which help you in investing in bonds and stocks.

  • The Startups That Are Funded By Alia Bhatt

    The Covid 19 pandemic has affected the startup ecosystem in India, as many startups found it difficult to find investors or get funds. Another industry that had a tough year was film industry, as the theaters were closed and many movie releases and productions were halted. Which is why many A-list Bollywood celebrities have resorted to investing in startups that are innovative and have potential.

    Bollywood actresses like Alia Bhatt have not only backed and invested in startups but have also started their own ventures like the Ed A Mamma. These celebrities are known to have a large following and platform to reach out to more people, which is why it is no surprise as to why startups now prefer to be funded by popular celebrities or even for endorsements and investments. Over the past few years popular celebrities like Amitabh Bachchan, Aamir Khan, Salman Khan, Madhuri Dixit, Shilpa Shetty, Katrina Kaif, Deepika Pakudone, etc have shown considerable interest in funding the budding startups.  

    Having a celebrity to endorse and invest in the venture helps startup get noticed in the overcrowded startup space. When it comes to Alia Bhatt, the actor chooses to tread safely while making investments in startups or even starting her own venture. The Raazi actress, is known to invest in FDs and Bonds showing that she does have some business acumen and is not a risk taker when choosing the right startup to invest in.

    Alia Bhatt is a one of the highest paid actress of India, known for her work in movies such as Gully Boy, Udta Punjab, Dear Zindagi, etc. Besides her acclaimed acting career, Bhatt has also launched her own line of clothing and handbags as well as a production company known as Eternal Sunshine and is the founder of the ecological initiative called CoExist. Here are the startups the actress has invested in:

    Ed A Mamma
    Nykaa
    StyleCracker
    Frequently Asked Questions

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    Ed A Mamma

    The actor launched her own sustainable clothing apparel brand for children known as Ed A Mamma in October, 2020. The brand is said to make clothes only for children from the ages of 2 to 14 years old. Ed a mamma focus creating a clothing line that is environmentally friendly as they us natural fibers including plastic free buttons and trims. The company is self-funded by Alia Bhatt and is also a homegrown brand that goes with “Made In India” ethos. The brand is keen on making gender neutral t-shirts from organic cotton, while the products come in an affordable range of Rs 349 to Rs 1,499 where the starting price for organic t-shirt is Rs 799.

    Another interesting fact about the brand is its waste management, the company reuses and recycles by using leftover clothing and cloth scrapes to make hair ties and potlis bags. The actor turned investor and now entrepreneur said that she specifically choose to make clothing line for children because they were already many fashion labels that made clothes for the age groups of 25 to 45 years old with high competition in the market. Which is why the Alia and her team decide to bridge the gap and create a made in India and a world class children clothing brand. The company hopes that with the brand the children will develop a love for nature at a young age.

    About Ed a mamma 

    There a many ecofriendly benefits that come along with Ed a mamma products such as non-synthetic garments, buttons that are not made from plastic and even seed bombs that can help you grow a garden. In an interview Alia added that, “children are extremely caring and if you create planeteers at a young age you can help save the planet for years to come.” Alia has also launched CoExist which is an ecological initiative done to raise awareness on the welfare of the street animals. The Ed a mamma clothing line has already said to have sold over 70% of its first season’s collection through Firstcry.com which is an ecommerce website for kid’s products.

    The brand is called Ed a mamma because Alia was inspired by a story series she was working on which was based on a little dog named Ed and his mamma a little girl. According to the actress the idea that she derived from this was to create a universe where the girl and the dog would go on adventures and save the planet from pollution. Another focus of the company was to make a homegrown brands for promoting the Made in India initiative. As a result the company manufactures its products in factories from Mumbai, Tripura and Kolkata among others.

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    Nykaa

    Nykaa is a popular ecommerce platform that sells cosmetic and beauty products and is now a Unicorn Company. After actresses like Katrina Kaif, Alia Bhatt also invested an undisclosed amount to Nykaa in 2020. Nykaa which was established in 2012 has grown into a unicorn company with the help of many such investments. The company also received an investment of Rs 100 crore from Steadview Capital in May, 2020. Founded in 2012 by Falguni Nayar, Nykaa is the number 1 online marketplace for beauty and wellness products in India.

    Nykaa logo and products
    Nykaa logo and products

    Nykaa now has a presence over 70 stores in India and also sells products from luxury brands like Tom Ford, Jo Malone London, Dior and Givenchy. The competitors of Nykaa competes with companies like Amazon Fashion, Flipkart Fashion and lastly Myntra. The website currently has over 5 million monthly active users and handles more than 1.5 million order per month. It also has a portfolio of more than 1,500 brands with a variety of 1.3 lakh products available on all its platform like website, apps and 70 offline stores.

    Not only that Nykaa also offers a wide range of beauty and grooming products for men, along with Nykaa Pro the company also caters to their customers with beauty needs and special offers. They are also known for their in-house beauty products known as Nykaa beauty which makes cosmetics for lips, eyes, face and nails among other skin body care range. In an interview CEO and founder of Nykaa, Falguni Nayar confirmed Alia funding and added, “There are three reasons to why she wanted to invest in Nykaa, it was because it has Indian roots, it is founded by a woman and is the proof that the best in India can take on the best in the world.”

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    StyleCracker

    StyleCracker is another startup that is funded and backed by Alia Bhatt. StyleCracker is a fashion tech startup which was founded by Dhimaan Shah and Archana Walavalkar in the year of 2013. The company is known for its advancements in technology that develops the StyleCracker Box which helps people to get styled and look good. The company offers many options for personalization to its customers and has a huge opportunity when it comes to using technology to decode the fashion requirements of the Indian consumer. The company is known for celebrity customized boxes that usually contain apparel, cosmetics, accessories, and sometimes even footwear.

    Alia Bhatt with the founders of Stylecracker Dhimaan Shah and Archana Walavalkar
    Alia Bhatt with the founders of Stylecracker Dhimaan Shah and Archana Walavalkar

    The company has its headquarters based in Mumbai, Maharashtra. The procedure to get one these boxes start with the customers filling a form based on their like/dislikes and preferences, their personal details which are the measurement of their body shape, size and the budget range. Based on that information the customer receives a fashion box that is curated by many celebrity stylist. Once they receive the box, the customers have an option to keep or replace some or all items that they don’t like. The customized boxes are currently priced at Rs 1,999, Rs 2,999, Rs 4999 and even Rs 6,999, while the customers can choose boxes between the four.

    The company has shipped over 50,000 customized boxes in more than 35 cities. In an interview Alia Bhatt disclosed on why she backed the startup company stating that, “What I like the most about Stylecracker is that it bridges the gap between the individual and the expert”. This company is the country first ever online personal styling portal that is designed to make life easier and convenient especially for the women that are busy or need experts help to improve their style. The website also allows women to choose between work wear, western style or even ethnic fashion among others and also have style for sizes up to 4XL.

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    Frequently Asked Questions

    Who is Alia Bhatt?

    Alia Bhatt is one the most popular and highest paid actress of Bollywood.

    What are the startups Alia Bhatt has invested in?

    The startups Alia Bhatt has invested in are StyleCracker and Nykaa.

    What is Ed A Mamma?

    Ed A Mamma is sustainable clothing apparel brand for children started by Alia Bhatt.

    What is Nykaa?

    Nykaa is a popular ecommerce platform that sells cosmetic and beauty products.

  • What led Uber, Lyft to Build a Database of Drivers?

    Uber and Lyft are working together in creating a database of their drivers. They are creating a database of the drivers who have been accused of sexual assault from the customers. They are taking the list of drivers who have been banned from the platform for sexual assaults and other crimes.

    They are creating a database of people who have raised passenger-safety concerns in their platform. This safety programme is done because of the promise made by Uber, they will look into the crimes related to sexual assault. 15 months ago, they had revealed around 3,000 sexual assault cases had been reported on the company’s platform by passengers.

    Let’s look at the new initiative taken by Uber and Lyft towards increasing customer safety.

    Database of drivers
    Reason for Creating a Database of drivers
    Increased safety of their customers
    Advantage for other Companies
    FAQ

    Database of drivers

    The database developed by Uber and Lyft will contain information about the drivers who have been banned from the platform. Due to their involvement in sexual assaults and other crimes.

    In the initial stages, Uber and Lyft will list the drivers who have been banned by the platforms in the U.S. This database will be overseen by the company HireRight. HireRight is a company that specializes in background checks and they will take care of getting more detailed information about the drivers and listing them on the database.

    Reason for Creating a Database of drivers

    Uber and Lyft have been criticized in the past by U.S lawmakers regarding the safety concerns for their passengers. Since then both the companies Uber and Lyft are working together towards antitrust and privacy-related concerns.

    Sharing the information about the sexual assault faced by passengers by the drivers is really important. Most of the time the victims don’t file a formal complaint against the drivers. This acts as an advantage for the drivers who have been involved in those crimes and they easily escape from facing the consequences for their actions.

    These drivers would easily shift from one platform to another as there are no legal procedures and actions taken against them. This would increase such crimes and the safety of the customers would be at risk.

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    Increased safety of their customers

    This database platform is mainly concentrated on increasing the safety of the customers. This will make the companies in selecting the right drivers for their companies which will increase the safety of the customers.

    Uber and Lyft have said that they would maintain the privacy of the victims, and wouldn’t provide any information about the victims of the incidents.

    They have categorized the incidents for dismissing the drivers in six different categories which are

    • Attempted non-consensual sexual penetration
    • Non-consensual touching of a sexual body part
    • Non-consensual kissing of a sexual body part
    • Non-consensual kissing of a non-sexual body part
    • Non-consensual sexual penetration
    • Fatal physical assaults

    Uber and Lyft have said that only a very small amount of the drivers have been involved in behaviors that are listed in the above categories. Hence, the companies who have access to the database can allow drivers to provide services for their platform after their own background checks and investigations.

    What women are experiencing during the rides
    What women are experiencing during the rides

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    Advantage for other Companies

    The Companies which are involved in food deliveries, e-commerce deliveries, and companies involved in similar business models would get access to the database. Since there is a third-party company that specializes in background checks, the companies will be able to get detailed information about their drivers.

    Any company that has access to the information in the database is free to hire those drivers according to their own background checks. This database will help the companies in maintaining their goodwill and increasing the safety of their customers.

    This added layer of protection is being added because of the criticization made by Rape, Abuse, and Incent National network. It is a victim’s rights group which stated that the platforms are not doing a proper screening of their drivers.

    FAQ

    Who are the Founders of Uber?

    Travis Kalanick, Garrett Camp are the founders of Uber.

    What is the valuation of Uber?

    As of May, 2019 Uber’s valuation was $75billion.

    Who is the founder of Lyft?

    Logan Green and John Zimmer are the founders of Lyft.

    Conclusion

    Uber has been asked to pay a fine of $59 million by California’s Public Utility Commission. When Uber had released the details of the past abuses faced by the customers, the commission had asked for the details of the victims. Uber refused to provide the details of the customers as it wanted to maintain the privacy of their customers and hence the company was asked to pay a fine.

    Lyft is waiting for Uber to solve the issue related to privacy concerns so that they can release the reports about the past issues faced by their customers. This joint initiative from both the companies can be really helpful for a lot of companies and make the customers using their platform to feel more secure and safe.

  • Why Alibaba might be Fined $1 Billion by China

    Alibaba Group was founded on 28 June 1999. It is known as Alibaba Group Holding Limited and also as Alibaba.com. It is a multi-national company which is based in Zhejiang, China. Alibaba group specializes in e-commerce, technology, retail, and the internet.

    Alibaba is one of the world’s largest e-commerce and retail companies. It was also rated as the fifth largest Artificial Intelligence company in the world in 2020. Jack Ma is the founder of the company. The company has around 117,000 employees as of 31 March 2020.

    The company’s name was derived from the character Alibaba from the middle-eastern story, One thousand and one nights. The name signifies that the company is Universal.

    The company is considered one of the 10 most valuable corporations. Alibaba group is named as the world’s 31st largest public limited company according to the Forbes 2000 2020 list.  As of 2020, the company has the sixth-highest global brand valuation. The company owns and operates different organizations in different business sectors across the globe.

    Alibaba group has been facing certain legal actions from the Chinese government. The company is being criticized and the company is asked to pay around $1 billion as a fine to the regulators. Let’s look at the reason behind it.

    Reasons Why Alibaba might be Fined?
    What Jack Ma said about Alibaba being fined?
    Consequences of the Fine
    FAQ

    Reasons Why Alibaba might be Fined?

    Alibaba Group has already faced legal actions in the past. Alibaba Group had forced their e-commerce sellers to pick any one platform. They have stopped their merchants to list themselves on other platforms which are against the rule of the Chinese Government.

    Alibaba is said to have alleged the anti-competitive practices by the 2008 antimonopoly law. It is said that the company had acquired its competitors without getting approvals from the government. The company had declared themselves that the acquired companies were not their competitors.

    In addition to this Alibaba group’s founder, Jack Ma’s business empire is being investigated by the Chinese Government as he had spoken against the Chinese regulatory system in October 2020.

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    What Jack Ma said about Alibaba being fined?

    Jack Ma said that good inventions will be able to exist with regulations but they wouldn’t exist with old-fashioned regulations. He gave an example saying that one cannot manage an airport the same way they manage a train station. He told that in the same way, we won’t be able to manage our future the way we manage the past. This was a statement made for the regulations laid down by the Chinese Government.

    He also spoke about the financial system of China saying that they should develop and depend more on credit system development. He said that they should move away from the pawnshop mentality within the financial industry.

    Annual revenue of Alibaba Group
    Annual revenue of Alibaba Group

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    Consequences of the Fine

    China’s state administration has asked Alibaba group to pay an amount of $1.3 billion. The fine was implied for breaking the 2008 anti-monopoly law. This is the maximum fine collected under the law.

    The Alibaba Group was fined for investing an amount of $692 million in Intime during the year 2014 and for bidding an amount of $2.6 billion in 2017 for privatizing Intime.

    This will be the highest fine ever paid by a corporate in the history of China. Alibaba group has also been asked to cancel its association with the company’s founder Jack Ma. The regulators have told that if they fail to disassociate with their founder the company will have to face actions.

    They will have to pay the fine only if they don’t follow the rules of the Chinese government. Also do not end the policy where they force the merchants to sell only on their platform. The company is also been asked to withdraw its investments from some businesses. The regulators want the company to remove non-core businesses from its core retail operations.

    Ant Financials which is a subsidiary of Alibaba group has been claimed as a risk for the Chinese Financial system. The company was asked to undergo certain changes which are said to affect their business model.

    Alibaba Group had to temporarily stop the IPO plans of Ant financials due to the allegations. The authorities of Beijing stopped the IPO issue of Ant financials which was supposed to be for $37 billion.

    FAQ

    How much does Jack Ma earn per second?

    Jack Ma earns $0.32 per second and $1,141.55 per hour.

    What percent of Alibaba does Jack Ma own?

    Jack Ma owns 8% of Alibaba group.

    Who is the richest person in China?

    Jack Ma is the richest person in China with a net worth of 48.2 billion as of July, 2020.

    Conclusion

    Mr. Ye Han, a partner at Beijing-based law firm Merits & Tree told that the message was clear. The companies are supposed to seek approvals from the government for such deals in the country. He is a person who has a specialization in anti-trust, mergers, and acquisitions.

    Alibaba Group has said that they would actively corporate with the regulators regarding the case and their business operations would remain normal during that time.

    The regulators took strict actions against the company after the founder Jack Ma’s speech during the Bund Summit in October. He spoke about the countries strict regulations and the over dominance over the banking industry. This has led the Chinese regulators to take strict actions against the company.

  • Can Twitter Space Rival popular Social media platform Clubhouse

    Twitter is a social media platform founded in the year 2006. The users of this platform interact with each other through messaging which is known as tweets. The platform is widely used across the globe. Twitter has plans to come up with a lot of new features for its platform to increase its revenue.

    One of the new features is Twitter spaces, which is a rival of the invite-only social media app clubhouse.

    About Twitter Spaces
    How to Use Twitter Spaces
    Features of Twitter Spaces
    Twitter Spaces comparison with Clubhouse
    FAQ

    About Twitter Spaces

    Twitter has launched a new feature on their platform which is called Twitter Spaces. This feature will let users have live audio conversations with their followers. The new feature is still in the beta stage. The platform has been collecting feedback from the selected people chosen for the testing.

    The Twitter users on both IOS and Android can now join and talk in the audio conversations which are called spaces. You won’t be able to host your own space unless, you are one of the individuals who is selected for the testing stage.

    The company is planning to make Twitter Spaces available to everyone by April 2021. The Twitter employee stated that they are soon going to make the feature available to everyone very soon.

    How to Use Twitter Spaces

    The creator of the Twitter space will be called host. If you are a host you have two different ways to start your space. You can either click on your profile image in fleets, scroll to the right and click on spaces.  You can also long press on the tweet compose on the home timeline and then click on the spaces icon which will be in the shape of a diamond with multiple circles.

    Twitter Revenue by Business segment, USD millions
    Twitter Revenue by Business segment

    Features of Twitter Spaces

    In spaces, up to 11 people can speak at a given time. If you are the host then you can choose whom you would want to speak by giving them the permission to speak. You would have some options to choose from which would include everyone, people whom you follow, and people you invite to speak.

    Host provides permission to speak

    Once the audio conversation starts you can control the conversations by providing them permission to speak. If you are a listener then you will have to request the host to provide permission to speak by clicking on the request icon.

    Spaces can be Accessed by anyone

    As of now, your spaces can be accessed by anyone. It will be visible like public tweets and they will appear on top of the tweets. Spaces will have a link which you will be able to share it with different people and you can invite people using that. You can also send an invite link through your DM.

    Host can control the Space

    If you are the host of a space you can control who is supposed to speak in your space. You will have the power to even remove, block, or report a user from your space. Even the other speakers or listeners can report and block people in the space. If you block a user from your space, you will be blocking his Twitter account as well.

    Report a Space

    You also have the feature to report a space. If you feel that a particular space is violating the rules of Twitter then you can report it. Anyone can report about a space. Speakers, listeners, or even any account in a space can report about that particular space. You can also report about a person in a space but you will have to provide the reason for it.

    No limit to number of listener in spaces

    There is no limit to the number of listeners in the twitter spaces. The host will have the right to end a space. space can also be stopped if it is found to be violating the rules of Twitter.

    Twitter Spaces comparison with Clubhouse

    Twitter spaces are available to all the Twitter users, unlike the clubhouse. Clubhouse works on an invite-only basis and one can join the clubhouse rooms only if they are invited. Twitter spaces are open for all and anyone who has a Twitter account can join the spaces and be part of the discussion.

    In the clubhouse, if you are muted you won’t be able to provide any reactions during the conversations. But in twitter spaces, you can provide reactions through emojis. There are certain emojis you can use for now to provide your immediate reactions or response without unmuting yourself. Twitter spaces help you follow an account easily by clicking on their profile during an ongoing audio conversation.

    FAQ

    Who created Clubhouse social media?

    Baiju Bhatt and Rohan Seth are the founders of Clubhouse.

    What is the valuation of Clubhouse?

    Clubhouse has a valuation of $1 billion as of 2021.

    What is the valuation of Twitter?

    As of 2021 valuation of twitter is $51 billion.

    Conclusion

    Twitter has many upcoming ideas with its new feature spaces, which would include features like offering a piece of welcoming music for the hosts of the spaces, tweeting inside the spaces directly without being displayed on the public timeline etc.

    Twitter had started testing this feature by the end of February. The company in the beginning concentrated on Women and marginalized groups with 1,000 users. Twitter spaces are just one of the new features of Twitter. The social media platform has plans to come up with other new features like super follows and Twitter fleets.

  • The Growth Of Startup Ecosystem In India

    India is one of the fastest emerging startup ecosystem. The Indian technological landscape has seen a tremendous growth towards creation of innovative startups which has lead it to become the 3rdfastest growing hub for technology startups in the country. The current article analyses the India’s position as a global startup hub that is becoming attractive for investors startup, and corporates.

    From having just a handful of tech companies to couple dozens and now thousands of innovative new ventures, India’s startup ecosystem has grown immensely from the past decade. India now has 55,000 startups with more than 3200 startups raising $63 Billion in funding in the last five and half years alone.

    The internet has helped paved the way for thousands of startups to rise over the past decade, address unique problems, transform entire industries and create new segments. With deep data insights to influence strategic decision making in governance, investments, growth, and other core aspects driving the Indian startup ecosystem.

    Indian Startup Funding
    Indian’s Unicorn And Soonicorns
    Infrastructure And Resources That Help The Startups Growth in India
    Government And Regulatory Landscape
    The Main Hubs of Indian Startups
    The Indian Investor Landscape
    Fintech Boom
    The Growth of Innovation in India

    Indian Startup Funding

    Over the years the growth of startups has brought in more international investors and boosted their confidence towards India. Fundraising reported by SEBI registered ventured capital funds grew from Rs.326 Crore in 2014 to over Rs. 2,703 Crore in 2019 showing the increase which is up to 8 times more now. The share of actual capital raised to commitments in 2014 was 35% compared to 61% in 2019, indicating the growing investor interest towards investments opportunities in India.

    The most beneficiary sectors are EdTech, fintech, online gaming and OTT, ecommerce and enterprise tech. But because of the covid 19 scenario in 2020, the total capital inflow in Indian startups expected to dip in 202 by as much as 36.2% compared to 2019 to reach $8.1 billion. The total capital inflow in Indian startups for the year 2020 is expected to be the lowest since 2017.

    Indian’s Unicorn And Soonicorns

    India only a single unicorn in 2012, but in 2016 the number increased 10. It is now the home to 34 well known Unicorns with a combined valuation of $115.5 billion, 52 Soonicorns with the potential to become unicorns by 2022. With an overall funding skyrocketing to $63 Billion from 2014 to 2020. In the past decade, India has shown a great appetite for technology, data and the internet.

    Some of the popular unicorn companies in India
    Some of the popular unicorn companies in India

    Excluding that India has 53 startups in India that have the potential to achieve $1 billion pus valuation by the end of 2022. Out of these numbers the fintech sector has 19 unicorn which is different from the unicorns where enterprise tech startups which have 7 unicorns

    Infrastructure And Resources That Help The Startups Growth in India

    India now has an estimated 100 plus startup incubators across the country, mostly housed in academic institutions; this number is likely to cross 300 by 2020. This means that there will be a startup incubator in every state, city and town in the country are enabling entrepreneurs to access resources and solve problems in their local areas. Next, we have Co- working spaces that are growing at an exponential rate and this helps entrepreneurs to have office spaces in their neighborhood.

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    Government And Regulatory Landscape

    Many states are coming up with policies in 2020, as the government at the central and state level have recognized the potential of startup as a driver for job creation and are hence enabling a better regulatory environment for starting up. The startup culture in India and other policies are looking at addressing the problems of B2C entrepreneur level.

    NITI Aayog is in the process of making the necessary infrastructure and resources available through the Atal Innovation Mission (AIM). AIM is adopting a more B2B approach by supporting in the scale up of the existing incubators such as NSRCEL, C-CAMP etc.

    The Main Hubs of Indian Startups

    In 2020, Bengaluru the silicon valley of India is still the startup capital of the country with a total funding amount of $28 Billion across 1,876 deals 2014 to 2020. It’s the startup hub in India for startups. In addition to that the other top hubs are Delhi and Mumbai, while the emerging hubs are Pune and Hyderabad as they have recorded an annual growth rate of 45% and 37% respectively.

    Top startup hubs in India as of 2020
    Top startup hubs in India as of 2020

    In the tier segment Jaipur and Goa have outperformed cities like Hyderabad and have earned their spot in top 10 startup hubs as of 2020 based on the number of funding deals.

    The Indian Investor Landscape

    From just a handful of investors and a few startups to over 49 thousand startups and over 2,000 Indian and International investors, the startup ecosystem have come a long way in past five years. The International investors now routinely come to India to invest in the burgeoning tech ecosystem. The frequency of participation by the existing investor is on the rise.

    The total count of unique investors
    The total count of unique investors every year

    Many corporations have played a major role in the funding trends, according to Datalabs by Inc42 analysis, 2019 was not one of the good year for venture capitalist. In 2020 however, there are approximately 4,640 active investors in India. Among these 59% (2,751) are angel investors and about 18.3% (849) are venture capital firms. Overall there is a downward trend in terms of unique investor’s participation similar to what has been observed in 2019.

    Fintech Boom

    The fintech sector continues to grow at rapid speed. Paytm can easily be called a pioneer in fintech as at gave the power of choice and how to spend to people who never had wallets or bank accounts. Following the success of Paytm, many other wallet companies have shown promise. We believe this sector will continue to attract investors’ interest in 2019 as the business ideas in fintech.

    The Growth of Innovation in India

    The interim budget conveyed the message that India youth should constantly innovate to drive the country growth. Towards this end, the government has pushed for the use of digital technologies through initiatives such as the National Program on Artificial Intelligence (AI) and the establishment of nine centers of technological excellence.

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    Conclusion

    While the first decade of 21st century was all about bringing India’s cities and metros online, the past ten years have been about using the internet to create businesses and startups and take the digital torch to rural India. India is today the home to world’s largest working population and startups are expected to take full advantage of this in the next five years.

    The country has more than 500 million internet users. Which is why we can expect an active implementation of block chain, AI, IoT and data analytics across multiple technology sectors. For example the IoT in India has reached $15 billion by 2020. It will account for approximately 5% of the total global market. On the other hand, AI is predicted to become as big as $ 15.6 trillion by 2030.

    Nevertheless, 2025, the number of startups in India is expected to cross 100K, creating more than 3.25 Million jobs in the process. At the same time, the total funding in Indian startups is likely to increase to over $150 Billion and with the total value creation exceeding $500 Bn. Once the medium and long-term pandemic impact subsides, there’s no stopping Indian startups.

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    FAQs

    What does startup ecosystem mean?

    A startup ecosystem is formed by people, startups in their various stages and various types of organizations in a location (physical or virtual), interacting as a system to create and scale new startup companies.

    What is entrepreneurial ecosystem?

    Entrepreneurial ecosystems or entrepreneurship ecosystems are peculiar systems of interdependent actors and relations directly or indirectly supporting the creation and growth of new ventures.

    What makes a good ecosystem?

    A healthy ecosystem consists of native plant and animal populations interacting in balance with each other and nonliving things, for example, water and rocks.

  • Is Global Semiconductor Shortage Impacting the Automotive Industry

    The global automotive and tech industries are on the edge as a wave of a supply shortage of semiconductors has hit them hard and how. Computer chips manage or probably run almost everything under the sun.

    From nuclear plants to the internet cables, stabilizing suspension systems, and regulating engine temperatures, we need them more than ever since technology surrounds us in a way that we are yet to comprehend.

    Computer chips are almost everywhere, in the cars we drive, in the smartphones we use, in devices like refrigerators, laptops, television sets, etc. We can’t imagine our lives without these. The shortage of these chips has turned down a few economies and soared for a few others around the globe.

    What are semiconductors
    Scarcity of Semiconductors around the Globe
    Reasons for the scarcity of semiconductors
    Higher demand for semiconductors
    Effects on the Indian market
    What happens next
    FAQ

    What are semiconductors

    Semiconductors or chips as we commonly know them are basic structures used for encrypting logic and memory functions in automobiles, phones, laptops, and gaming devices. Semiconductors are integrated or electronic circuits printed on conducting materials, the most common being silicon. They are the basic building blocks for making computers and running software.

    Over the decades, developers have managed to squeeze more circuits into tinier circuits making our computers and devices smaller and cheaper. The semiconductor fabrication is based on several transistors, the smallest part of the chip’s electronic component, per square millimeter. The factories or facilities that produce semiconductors are known as “Fabs”.

    The most advanced Fabs are known for semiconductors that measure 5 nanometers. That’s a millionth of a millimeter. Smaller the semiconductor, the higher the transistor count per square millimeter. The most highly functioning semiconductors are ones having a density of 100 transistors per square millimeter.

    Scarcity of Semiconductors around the Globe

    A chain reaction was set off when the pandemic hit us. As governments around the world imposed strict lockdowns, the demands for automobiles took a sharp U-turn. The automobile industry is one of the largest consumers of electronic chips as cars are turning into devices with power windows, machine control, and other features that use Artificial Intelligence. All these functions are integrated through semiconductors.

    Automakers like General Motors and Ford shut down several plants due to a decline in demand and production was brought to a halt. The sales fell drastically and companies cut short on their purchases of semiconductors.

    While the pandemic forced us to stay at home the need for indoor entertainment rose substantially. This resulted in an increased demand for tablets, smartphones, and laptops worldwide. The ripple effect called upon a higher demand for semiconductors in the tech industry. Tech companies began roping in more chips and some even stacked a few envisioning the shifts in the global demand.

    The market recovered at a better pace than anticipated and the demand for the auto making companies started to re-surface. Meanwhile, the tech industry gorged up 70% of the semiconductors being produced and left the automakers high and dry.

    Largest Semiconductor Companies by Revenue
    Largest Semiconductor Companies by Revenue

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    Reasons for the scarcity of semiconductors

    The USA is the largest producer of semiconductors in the world. Due to reforms implied by former President Donald Trump, the USA severed ties with Chinese companies and limited the chip sales export to China. China stockpiled chips and other countries followed suit.

    The American break up with Chinese companies turned the demand wave to TSMC, Taiwan Semiconductor Manufacturing Company, and other East Asian companies. TSMC and Samsung created a monopoly over the production of semiconductors which add up to 70% of the total production.

    America’s semiconductor production has plummeted to 12% from 37% since 1990. Consecutive changes in political leaders and bare minimum funds have discouraged the overall production.

    Other factors that catered to the scarcity were a huge fire in a Japanese chip factory in October 2020 and a cold snap that withered two semiconductor factories in Texas.

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    Higher demand for semiconductors

    The TSMC and other east Asian companies are working under extreme pressure to meet the demand worldwide. It might sound exuberant for the company, but it is far from what reality is.

    One might wonder why can’t more Fabs be built in order to sustain the demand. Fabs have peculiar prerequisites such as temperature-controlled environments, dust control, highly volatile pieces of equipment, and a minimum of five years of time to get it ready for production.

    Not to mention the sky-high cost requirement for setting up a Fab. No wonder the largest producer of chips America, is far from its competitors lacking the funds and support from its government.

    Reportedly, the demand has rocketed due to the requirement of semiconductors in the production of 5G smartphones. Every advancement in the electronic industry is largely based on the exploitation of semiconductors. As the world gets 5G ready, companies have massive supply demands for semiconductors.

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    Effects on the Indian market

    Indian automakers depend largely on imports of semiconductors. The worldwide demand, too few supplying agencies, and the waiting period have the Indian automakers worried as they import electronic requirements totaling to Rs 3000 crore every year.

    “The big concern for the auto industry and Mahindra, and in fact for the world, is the semiconductor shortage. (It is) something that we’re very perplexed with, and something where the end is not clearly known as to when this fall will go away,” Pawan Goenka, MD, and CEO of Mahindra & Mahindra, said during a press conference on the company’s Q3 results, on February 5.

    During Tata Motors’ press conference on its Q3 results on January 29, PB Balaji, CFO, Tata Motors, said that up until January, there has been no impact on the company due to the shortage of semiconductors. “Having said that, the risks are real and conversations are happening with all tier-1 and tier-2 suppliers and with the semiconductors industry as well to ensure that supplies continue.

    From a demand perspective, we are going very fast, and that’s also adding to the pressure that we have. This is something that is being managed on a live basis, and we will ensure that we do our best to minimize the impact.”

    “This is a challenge, and you need a hell of a lot of firefighting to get through,” Balaji added.

    What happens next

    The shortage will entail a while longer as the USA finds solutions for the production and sale of semiconductors. The world waits as new policies are put in place and the trade resumes.

    Chip companies might be benefitting from the new demand drive but this locks them up in a long-term deal which brings more pressure on production.

    The biggest winners are companies such as California-based Applied Materials and Lam search and Japan-based Tokyo Electron who make the highly complex and expensive manufacturing equipment required to produce semiconductors.

    FAQ

    Why is there a shortage of computer chips?

    The pandemic resulted in an increased demand for tablets, smartphones, and laptops worldwide. The ripple effect called upon a higher demand for semiconductors in the tech industry.

    Where are most semiconductors manufactured?

    Taiwan, South Korea and China are the countries where most semiconductors are manufactured.

    Why are semiconductors so important?

    Semiconductors are an essential component of electronic devices, , computing, healthcare, military systems, and transportation. In short Semiconductors are the Brains of Modern Electronics.

    Conclusion

    Companies around the world believe that the demand for chips will barely slow down. The share prices of TSMC and Samsung have grown over 190% and 61% respectively over the last few years, all thanks to the shortage of chips.

    The automakers falling short of chips, need to take a long hard look at their supply chain management and cost-effective pricing as many automobile companies saw a hike in their products due to this scenario.

    This might exhibit as a complex problem for bigger players in the global market but the end result is inflicted upon the consumer who is forced to pay a higher cost.

  • How Swiggy is Transforming Delivery Service With the Help of AI

    Swiggy was founded in the year 2014. It is currently India’s largest delivery and online food ordering platform. It is operating in 100 different cities in the country. Swiggy has been using AI to improve its orders and delivery. Let’s look at the steps taken by the company to use AI for the smooth delivery of its products.

    AI usage for smooth deliveries
    Customers
    Delivery Executives
    Restaurants
    Time and Space
    AI Strategy
    FAQ

    Swiggy Using AI for Smooth Deliveries

    Swiggy has used AI to grow its order value by over 200%. The company said that the real challenge they faced was real-time decisions or optimizing their products. They said that, when the customers are deciding what to order, the delivery executives keep moving around and restaurants get busy with their customers and orders. Finding a balance between these three was the real challenge faced by them.

    Customer Sattisfaction

    The company stated that first promise they would maintain is that they will deliver the products within the given time period. They have built an AI system, where the customers will be able to see what they would prefer, at what time, etc. in the company’s platform. It is designed using AI which makes it easier for the customers to choose their order.

    The platform is built in a way where it would understand the language used to refer to the same item in different names. For example- In India chicken is addressed using different names in different languages and AI helps in making the platform understand that all these different names means the same dish.

    Swiggy’s Delivery Executives

    The location of the delivery executives is tracked by the company on a real-time basis. They get to know whether the delivery executive is available to fulfill the order or not using the AI system. This will help the company in confirming the order given by the customers.

    The company also needs to understand, whether the executive is a new person or an experienced person which is done through an automation Process.

    The delivery executives will have to mark arrived, when they reach a restaurant for picking up the order. The company uses live GPS tracking so that they don’t click arrived even before reaching the restaurant. This helps the company to know that they are physically present in the restaurant.

    Valuation of Swiggy ($m)
    Valuation of Swiggy ($m)

    Swiggy’s AI Solution for Restaurants

    In the same way, restaurants will also face similar challenges. It would take different time periods to prepare different dishes. Some may take 20 minutes while others may take up to 30 minutes to prepare. The company has built systems to take into account how much time would it require to prepare the dishes ordered by the customers.

    Another area where the company concentrates is on food quality. Sometimes the customer would receive a different dish from the one they would have ordered. The company has built a box that has a camera in it, which will take pictures of the food to ensure that it is the right food. The company informed that it is a computer vision model based on deep learning.

    Time and Space

    The other prime factor the company takes into consideration is the time and space input. The uniqueness of on-demand services is that the customers need would change according to the time and location. The platform understands, whether it’s morning or afternoon and shows the restaurants and dishes accordingly.

    AI Strategy

    Swiggy has hired an AI team from across the globe. They have hired individuals who hold multiple PHDs from international universities, and people who work as senior scientists in places like GE research and IBM.

    They have built a separate team dedicated only to applied research. This team is different from the data science team. This team will concentrate on solving the problems of the next 100 customers, while there is a team that looks at immediate problems.

    The company receives terabytes of data weekly and around 40 billion messages per day. Swiggy has worked on putting this data to develop and build Machine Learning models. The company has said that they have also partnered to get third-party data.

    Swiggy is also working on Artificial Intelligence on computer vision where for example a picture of a menu is automatically taken and converted into a file.

    They are looking forward to building long-term capability by partnering with other research institutions and industries which are external. Swiggy has also partnered with various universities and institutions where they would fund the research programme and innovative ideas.

    This is a step where the university students and Swiggy scientists would be able to work together in developing innovative models. They have also partnered with Amazon Web Services and a lot of startups.

    FAQ

    Who is the Founder of Swiggy?

    Swiggy was founded by Nandan Reddy, Sriharsha Majety, and Rahul Jaimini.

    What is the valuation of Swiggy?

    Swiggy has a total valuation of $1 billion.

    How many orders a day does Swiggy have?

    Swiggy has a high number of orders with 1.4 million orders a day.

    Conclusion

    Swiggy has also made efforts to introduce Artificial Intelligence across the organization. This would help everyone build models around it. They have launched a training programme for their teams, analysts and even business leaders which is “AI for All”.

    The vision of the company is to make AI part of their culture which has led them to build the capability and knowledge in the organization said Swiggy’s technological head.