All the credit goes to the collective effort of France and the United Kingdom for the birth of Concorde. It was a commercial revolution that amazed the aviation industry. Concorde was the world’s first supersonic aircraft to exist. Its introduction was decades ahead of its time. And yet, it failed. Why? What brought an end to Concorde’s reign?
Concorde supersonic jet had a good run for decades. It had a glorious flight from 1976 to 2003. It was one of the most expensive forms of air travel of its time. The aircraft went from collecting $1,500 in the first year’s round trip to $12,000 in its last. The supersonic jets saw an exponential rise in popularity. And its fame came to an unfortunate retirement after a marvellous reign.
Concorde Supersonic Jet at Intrepid Museum (New York City)
Concorde brought about revolution when it first made a trip in the air. It was nothing less than an iconic fleet that changed the aviation landscape forever. No wonder passengers have loved travelling ever since it first went up in the air.
It flew at twice the speed of sound. Concorde recorded a speed of 2,179 km/h as the fastest commercial airline. Although it was an immediate success, Concorde faced retirement at the end. Unfortunately, Concorde never went up in the air after October 24, 2003.
Concordeâs Successful First Flight: Reminiscing the Old Days
Concorde could fly faster than sound. Its first-ever successful flight was on March 2, 1969. The jet crossed the transatlantic at 1,375 miles per hour in 1973 for the first time. Concorde made history when it flew commercial in collaboration with British Airways and Air France.
It had a scheduled flight from London to Bahrain and Paris to Rio de Janeiro. The popularity rose when Concorde took regular flights to and from New York City and Washington D.C.
What Led to the Unfortunate Downfall of Concorde After Its Successful Reign?
Concorde thrived when passengers were fine with paying a hefty amount for air travel. Putting prestige over efficiency, Concorde was successful in that era. However, in modern times, this commercial supersonic jet never would leave the ground.
The Concorde dealt with distance issues. It struggled with flying from the UK to the US East Coast. Not to forget that Concorde has an incredible amount of noise. The aircraft consumed as much fuel as the Boeing 747. However, it only had a capacity for 100 passengers. On the other hand, the Boeing 747 flew four times the number and twice its distance.
Most argue that the infamous 2000s crash brought the end of Concorde. But its inconvenient aspects led British Airways and Air France to decide to retire it for good.
Fuel efficiency was never a strong forte of Concorde. It is common knowledge. It consumed approximately 25,629 litres of fuel per hour. And a full flight fuel consumption reached a number close to 112, 000 litres per hour.
Such numbers do not look good for the aviation industry. Tackling such surges in fuel consumption can be quite a problem. Especially in the 1970s, the inconvenience increased given the inflammation of oil prices. Moreover, the expensive tickets with cargo restrictions could have gone better with passengers. Consequently, the company incurred losses given the aircraft rarely flew at full passenger capacity.
Infamous Concorde Air France 4590: Beginning of Its End
Concorde Air France 4590
Air France 4590 was about to make a trip from Paris to New York City. It was an Air France Concorde, a commercial supersonic charter jet. There were a majority of German tourists onboard. It was on the 25th of July, that Air France 2590 left the Charles de Gaulle Airport. However, the jet caught fire within minutes of its take-off.
The crash killed 109 people on board along with four others in Gonesse, a Parisian suburb. This was an unfortunate accident that took place in the 24 years of Concorde’s commercial run.
Safety Features of Concorde: Were There Signs of Technical Failure?
There were no signs of any technical mishaps until the fatal Air France 4590 crash in July 2000. The reason was debris on the runway that interfered with the aircraft’s left wing. This led to the rupture of the plane’s left fuel tank. As a result, there was a fire that damaged several parts of the plane.
Before the crash, the Concorde aircraft had a successful run for about three decades. There were less than eight thousand takeoffs and landings during its reign. So the crash made a significant dent in Concorde’s safety record.
Customers lost their confidence in the Concorde air travel. Even though the aircraft underwent $93 million in safety upgrades, air travellers did not seem convinced. The financial burden increased with the piling maintenance costs.
Concorde Commercial Flights: From Losing Trust to Becoming an Inefficient Fleet
The rising Concorde supersonic jets saw a magnificent rise in the aviation industry. However, an unfortunate and fatal accident brought an end to its glorious rule. With a lack of customers’ faith in the increased maintenance billings of an ageing fleet, Concorde’s doom was inevitable.
Concorde aircraft was an excellent display of engineering wonders. It had an air of exclusivity. The luxury the flight offered outdid the expensive, noisy inconveniences.
Concorde’s Downfall: A Unfortunate Story
Commercialised in 1976, Concorde was the result of the British and French aviation Industry.
It had headquarters in France, the UK, London and Toulouse.
Although Concorde was supersonic, it could not outdo the subsonic aircraft.
Killing 109 people onboard and 4 on the ground, July 2000 saw a fatal Air France Concorde crash.
Eventually, in 2003, Concorde faced retirement after three decades of service.
People did not enjoy the noise population these supersonic jet engines were responsible for.
From high costs to the public’s loss of confidence, Concorde’s commercial failure was inevitable.
These aircraft had high maintenance values. Given its high cost, Concorde had narrow flight availability. Any passengers could not afford the expensive tickets. The Concorde airways had New York City as their regular destination. This exclusivity led the company to incur heavy financial losses.
Concordeâs Failure: Retirement of the Might Supersonic Jet
The Concorde Supersonic Fleet was a beauty indeed. It was nothing short of an engineering marvel. However, the noise it made, the inflammation of oil, and operation prices, were all disadvantages that made it inconvenient. The aviation industry could not afford to keep these flights air-bound.
The aviation business felt the compulsion to look for a better replacement for Concorde. Dealing with its high energy consumption was getting difficult day by day. However, the aircraft survived the downfall and made a comeback in 2001. Unfortunately, British and French Airlines relieved Concorde of its service in 2003.
Concorde Supersonic Jets are a great attraction for tourists and aviation enthusiasts across the world. Its display is one of the most loved tourist attractions. The plane came back to Bristol, the birthplace. Today, the aircraft rests at the Hangar facility built exclusively for Concorde. The fleet came much ahead of its time and took the world by storm. Even if it came to an end, Concorde’s rule was nothing but legendary!
FAQs
What is the fastest plane in the world?
Some of the fastest planes in the world are NASA X-43, Lockheed YF-12, Bell X2 Starbuster, etc.
Where are the 20 Concordes now?
Even though concordes were discontinued in 2003, they were not fully deleted from the world. They are placed at several museums across the globe so visitors can have a good look at them.
Why was Concorde so fast?
Concorde was fast enough because of the special consideration of its Aerodynamic designs. Its wings and body shape were made in a way that reduced resistance while improving operating speed.
The location and often poor quality of the cricket stadiums used for the Twenty20 Men’s World Cup 2024, particularly in the United States, have already drawn criticism. The International Cricket Council (ICC) planned the Twenty20 World Cup 2024 in the United States and the West Indies to boost cricket in the United States, but the choice has been heavily questioned due to concerns over the quality of the venues and facilities. Regardless of their fruitless choice of host country, the ICC is still making money off of cricket because it is one of the most watched sports in the world. India is the largest market for cricket in terms of market size, viewership, sponsorships, and advertisements. As a result, last year at the ICC Annual Conference in Durban, South Africa, the governing body proposed a revenue model for the 2024â27 cycle that would see India receive nearly 40% of its event’s share. An estimated $230 million would be distributed to the Indian board from the $600 million yearly pot for the next four years, while the exact amount was not specified by the ICC. This works out to about 38.5% of the ICC prize going to the BCCI.
T20 World Cup Schedule Designed Keeping India at Centre
Being the revenue center of ICC, India enjoys the privilege of being a prime focus. The USA and West Indies are co-hosting the T20 World Cup right now, and games happen at different times of the day. In an interview with a well-known news outlet, West Indies Cricket Board (WICB) CEO Johnny Grave said that the schedule was made with the Indian time zone in mind because “majority of the revenue from ICC event comes from one market.”
In addition, he discussed the many advantages for the West Indies and its associate nations of hosting important ICC events and the assurances offered to Windies players that they will not play international cricket during their busy schedules with the Indian Premier League and the Champions League. Only the top three nations have hosted the major men’s events over the past eight years. Currently, the majority of the world’s best cricketing nations are hosting ICC men’s events. The T20 World Cup is being hosted by the United States and the West Indies, while the Champions Trophy will be hosted by Pakistan. Tri-nation India, Sri Lanka, and Bangladesh will co-host New Zealand and Australia later this year. The men’s Cricket World Cup of 2027 will be co-hosted by South Africa, Zimbabwe, and Namibia. Africa will play home to the 2027 Men’s Cricket World Cup, according to the International Cricket Council (ICC). This means a significantly larger number of members will get a portion of the host board’s revenue compared to the last eight-year cycle. Before, the top three would keep the money they earned from their host broadcasters and use it to further their already substantial economic advantages in their home regions.
Revenue of the International Cricket Council Distributed to National Cricket Boards Worldwide From 2016 to 2023
India vs Pakistan Matches: The Biggest Money Minter for ICC
Although many sports fans claim that the Ashes is the most profitable competition for the ICC, this is completely untrue. When two archrivals like India and Pakistan square off, it’s guaranteed to be a great matchup for spectators and sponsors alike.
As a financial spectacle, these matches showcase the economic powerhouse they have become in the world of cricket, with figures approaching billions of dollars. At the Asia Cup in 2023, both teams played against each other, and the game was shown on TV after buying television rights worth about $100 million. The enormous significance of these matches was highlighted by the fact that a 10-second advertisement during the India vs. Pakistan match cost over INR 25-30 lakhs. As the tournament approached, rumors began circulating that the most expensive ticket to the Twenty20 World Cup 2024 match between Pakistan and India had risen to an astounding $22,000.
ICC reveal historic prize money for the Men’s #T20WorldCup đ¤Š
A wide range of sponsors, including worldwide sponsors, social media sponsors, and category-specific sponsors, are secured by the International Cricket Council (ICC) for their yearly events.
It is projected that each sponsor will give anywhere between $30 and $40 million to the ICC.
The logos and adverts of the sponsors are displayed prominently in a variety of spots throughout the stadium as well as on the ground.
A large fee is paid to the media for them to telecast ICC matches. The company then generates revenue through ad sales or partnerships with other businesses. Many companies have put a lot of money into getting media rights for the Indian market because most Indians love cricket. Fantastically, this could lead to even bigger revenues for them.
Advertising revenue for Disney Star, the official media rights holder for the ICC Men’s T20 cricket World Cup this season, is projected to be about INR 1,600-1,800 crore, which is similar to what they made for the previous event in Australia two years ago. All signs point to the broadcaster’s advertising roster reflecting the present Indian Premier League. Despite still being in the process of finalizing arrangements and having sold approximately 40% of its advertising spot inventory, Disney Star expects to attract big sponsors such as those seen in the BCCI-backed cricket competition IPL.
Tickets and Merchandising Adding More to the Revenue
Thanks to its worldwide fan base, the ICC World Cup has generated a tonne of money for brands. Beyond the cricket pitch, the tournament has a wide appeal, and fans are searching high and low for mementos that will allow them to cheer on their favorite teams and players. The World Cup has sparked a massive demand for items, which is great news for businesses, cricket fans, and the economy as a whole.
World Cup apparel gives fans a physical way to show their support and enthusiasm since they want to feel like they’re a part of the event. Fans are lining up in droves to get their hands on official team jerseys and hats with emblems so they may proudly represent their team during games.
The fluttering of flags and banners is another trademark of the games. In a vibrant display of support, fans can be seen adorning stadiums, homes, and even cars with these icons of national pride and team love. There is a wide selection of flags sold by stores near stadiums, from huge national flags to smaller ones with team emblems.
FAQs
What are the revenue streams for the ICC T20 World Cup 2024?
The main revenue streams for the ICC T20 World Cup 2024 include sponsorship, Merchandising, ticket sales, and India Vs Pakistan Matches.
Who is the official media rights holder for the ICC Men’s T20 Cricket World Cup 2024?
Disney Star is the official media rights holder for the ICC Men’s T20 cricket World Cup this season.
What is the prize money for the winners of the ICC T20 World Cup?
The winners of the ICC T20 World Cup to get at least $2.45 million (INR 20.36 cr).
Jio Financial Services collaborates with BlackRock to revolutionize wealth management and stockbroking in India, making significant strides in the financial sector.
Jio Financial Services, the financial arm of Reliance Industries, has recently tied up with US-based BlackRock to make significant strides in stockbroking and wealth management.
The company announced a significant agreement last month, signing with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to establish a 50:50 joint venture (JV) dedicated to launching a wealth management and broking business in India.
Jio Financial Servicesâ partnership with BlackRock, the world’s largest asset manager, is poised to revolutionize the way Indians access and manage their wealth, marking a significant milestone in the evolution of the country’s financial ecosystem. Notably, this marks the second collaboration between Jio and BlackRock, following their successful launch of an asset management venture last year.
With this new partnership, both entities are poised to further strengthen their presence in India’s financial landscape, leveraging their combined expertise to offer innovative solutions tailored to the evolving needs of Indian investors.
This article delves into the game-changing influence of Jio Financial Services and how it is revolutionizing the financial landscape. Jio Financial Services has emerged as a key player in the market, reshaping the way people access and manage their finances.
Jio Financial’s Role in Revolutionizing the Financial Landscape
Jio Financial’s entry into the financial industry has been nothing short of revolutionary. By leveraging technology and digital platforms, Jio Financial has disrupted traditional financial practices and introduced a new era of convenience and accessibility. With its user-friendly interface and seamless integration, Jio Financial has made financial services more accessible to the masses, breaking down barriers and empowering individuals to take control of their financial future.
Jio Financial Services Ltd (JFSL) was incorporated in July 2023. JFSL is a NBFC registered with the Reserve Bank of India. The company is a holding company and will operate its financial services business through its consumer-facing subsidiaries namely Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL), and joint venture namely Jio Payments Bank Limited (JPBL).
Jio Financial Services is redefining the way people engage with banking, investing, and wealth management. Through its collaborative ventures, like the recent equal joint venture with BlackRock in stockbroking and wealth management, the company is not just expanding its offerings, but also setting new standards for transparency, accessibility, and customer-centricity in the financial sector.
BlackRock’s deep understanding of global markets, combined with Jio Financial’s local insights and digital prowess, creates a potent combination that promises to unlock new opportunities and drive unprecedented growth in India’s financial sector.
By leveraging BlackRock’s world-class asset management capabilities, Jio Financial aims to offer a wide range of investment products and wealth management solutions designed to cater to the needs of both retail and institutional investors.
One of the key areas of focus for the partnership will be the expansion of Jio Financial’s stockbroking and wealth management business. With India witnessing a surge in Demat accounts and a growing appetite for investment opportunities, the timing couldn’t be more suitable for JioFin and BlackRock to join forces and tap into this burgeoning market.
In March 2024, India’s financial landscape witnessed a historic moment as the total number of demat accounts surpassed the 15 crore mark for the first time. This milestone, driven by sustained bullish momentum in the Indian market, reflects the growing interest and participation of investors in the country’s capital markets.
According to Motilal Oswal Financial Services, a leading domestic brokerage house, the total number of demat accounts surged to 15.1 crores in March 2024.
The share price of Jio Financial has been a topic of interest for investors and financial analysts alike.
The soaring share prices of Jio Financial reflect the market’s confidence in its potential and growth prospects.
Should You Invest In RIL & JIO FIN Shares After Q4 Earnings?
Jio Financial Services stock soared to an unprecedented all-time high of Rs 394.70 per share on April 23, surpassing its previous record peak of Rs 384.85 per share. In the past one month, JioFin share has touched a peak of Rs 394.70 and reached a low of Rs 351. This surge underscores the remarkable momentum the stock has gathered in recent months.
On May 2, Jio Financial Services closed at 0.78% up at Rs 379.85 per share on the National Stock Exchange.
On May 2, at 2328 IST, BlackRock shares were trading at 0.56% up at Rs 755.85 per share on the New York Stock Exchange.
As more people recognize the value and convenience offered by JioFin’s services, the demand for its shares has skyrocketed. This surge in share price signifies the market’s belief in Jio Fin’s ability to revolutionize the financial sector and create substantial value for its investors.
We at StartupTalky spoke to financial expert Gaurav Goel, a SEBI Registered Investment Adviser on the current surge in Jio Financial services share price and his outlook about the company.
Considering the recent surge in Jio Financial Services’ share price, what factors are driving investor confidence in the company?
Mr. Goel: The recent surge in the stock price of Jio Financial Services is a reflection of the possibilities in the business model of the company. It is expected to disrupt the existing business models, use technology as a fulcrum, and provide seamless execution across the board. Backed by one of the most powerful and richest business groups in India, this NBFC has been created to provide a one-stop financial services company in the country. This includes payment services, insurance broking, and a newly formed 50:50 joint venture with Blackrock to enter the asset management business in India.
With the expansion of Jio Financial Services into stockbroking and wealth management through its joint venture with BlackRock, how do you assess the potential benefits for investors?
Mr. Goel: Blackrock is one of the biggest investment management companies across the globe, founded in 1988. It manages around 10 trillion dollars in assets (AUM) across a diverse range of equities, fixed income, and money market instruments with sound risk management practices. Their flagship product ‘Alladin’ has been a global disrupter in the financial space. They are not new to India either, having partnered with DSP earlier, but exited the business in 2018. Blackrock is known for its innovative investment strategies, technology-enabled products, and use of data analytics to run its business.
Their venture with Jio Financial is likely to be pathbreaking. They plan to invest up to USD 150 million each and create ripples in the 500-billion-dollar (and growing) asset management industry in India. While Blackrock will leverage its strength of asset management, Jio Financial will use its network and resources to reach out to millions of people across the country.
While the partnership looks attractive and the promise of disruptive delivery is exciting, it won’t be a cakewalk. A low-cost disruption like telecom wonât be easy due to regulatory challenges in the industry. Competition is well-established and intense and existing players will not give up that easily.
In what ways do you think Jio Financial Services’ innovative approach is reshaping traditional banking and investment practices in India?
Mr. Goel: The key differentiation lies in the use of technology, a comprehensive platform with a complete suite of products, risk management capabilities, financial muscle, use of existing network, and world-class strategic partnerships. The disruptor tag would ensure that itâs not taken lightly by other major players in the industry.
Jio Financial Services Financial Results
V.L.A. Ambala, a Research Analyst (SEBI Registered), and Co-founder of Stock Market Today (SMT) spoke to StartupTalky and commented on the company’s prospects.
As a research analyst, how would you advise investors to evaluate Jio Financial Services’ stock and its potential for long-term growth?
Mr. Ambala: My advice for those interested in Jio Financial Services’ stock would be to assess its potential for long-term growth and factor in its fundamentals to make an informed choice. For instance, the companyâs recent collaboration with global giant BlackRock for JioFin development adds substantial credibility to the stock. Additionally, JioFin has delivered substantial returns since its listing, indicating promising growth prospects. Hence, I hold a bullish view of this stock. However, I would recommend individuals approach this stock with a long-term mindset, aiming for a holding period of 9 to 35 months to capitalize on its potential.
For those seeking short-term gains, caution is advised as the stock is currently trading in the overbought zone. So, investors may consider investing in parts or waiting for a dip before entering the market. A strategy for averaging could involve monitoring the 50-day Exponential Moving Average (EMA) and adding lump sums at the 200-day EMA to mitigate risks and maximize returns.
How do you interpret Jio Financial Services’ strategy of offering a wide range of financial services, including banking, insurance, wealth management, and digital payments, under one platform?
Mr. Ambala: Jio Financial Services’ strategy of offering an array of financial services under one platform mirrors its parent company Reliance Groupâs approach to market dominance. Leveraging the parent companyâs reach, Jio Financial Services aims to disrupt the financial services landscape in India. The business houseâs strategy involves identifying profitable sectors, entering them, and swiftly acquiring a significant market share through aggressive means. We have seen this kind of approach work in past ventures like Jio Telecommunications and Reliance Retail.
In India, with a large population of skilled yet unemployed individuals, there is a notable demand for earning opportunities. Increased awareness and internet accessibility have further fueled the demand for financial services, especially in Tier 3 and Tier 4 cities. While Jio Financial Services initially may offer freebies to attract users and build a substantial user base, the long-term strategy involves implementing competitive pricing policies. While such tactics are common in business, concerns about their impact on small businesses persist.
With Jio Financial Services’ focus on digital-first operations and partnerships like BlackRock, what implications do you see for the broader financial industry in India?
Mr. Ambala: Jio Financial Services’ emphasis on digital-first operations and strategic partnerships like BlackRock could have significant implications for the broader financial industry in India. While small businesses in the financial sector may face challenges competing with giant entities, some may merge or collapse under intense pressure. However, partnerships like the one with BlackRock may bring more opportunities and technological support for traders and the investing community.
For instance, such associations could lead to the introduction of more advanced technologies and smart financial tools, enhancing the accessibility of financial services in India. Such developments could also help democratize access to investment opportunities and further empower individual investors. I also hope that the infusion of expertise from global financial giants could elevate industry standards and practices.
Jio Financial Services offers a comprehensive range of financial products and services tailored to meet the diverse needs of its customers. Here’s an overview of some key services provided by Jio Financial:
Banking Services: Jio Fin provides digital banking solutions, including savings accounts, current accounts, and fixed deposits. Through its user-friendly mobile app and online platform, customers can conveniently manage their banking transactions, payments, and transfers.
Investment and Trading: With its foray into stockbroking, Jio Fin enables customers to invest in equities, derivatives, mutual funds, and other financial instruments. Through its intuitive trading platform, investors can access real-time market data, research reports, and analytical tools to make informed investment decisions.
Wealth Management: Jio Fin offers personalized wealth management services aimed at helping clients grow and preserve their wealth over the long term. This includes portfolio management, financial planning, retirement planning, and estate planning tailored to individual goals and risk profiles.
Insurance Solutions: Jio Fin provides a range of insurance products, including life insurance, health insurance, and general insurance, to help customers mitigate various risks and protect their financial well-being.
Digital Payments and Transactions: Leveraging its digital infrastructure, Jio Fin facilitates seamless digital payments, including bill payments, mobile recharges, and online purchases. It also offers a range of payment solutions for businesses, including POS terminals and digital invoicing.
Loan Products: Jio Fin offers a variety of loan products, such as personal loans, home loans, and vehicle loans, to cater to the financing needs of individuals and businesses. Its streamlined application process and competitive interest rates make borrowing hassle-free for customers.
Overall, Jio Financial Services aims to revolutionize the financial landscape. By providing a seamless and integrated experience, Jio Fin has simplified financial management for individuals and businesses, making it easier than ever to navigate the complex world of finance.
Jio Fin’s Competitive Advantage in the Market
One of the key factors behind Jio Fin’s success is its competitive advantage in the market. With its extensive network and vast customer base, Jio Fin has a strong foundation to build upon.
Jio Financial Services Investor Presentation
Additionally, Jio Fin’s strategic partnerships and collaborations with other industry players have further strengthened its position in the market. By leveraging its brand reputation and technological prowess, Jio Fin has positioned itself as a formidable competitor, challenging traditional financial institutions and shaping the industry’s future.
Strong Digital Infrastructure: Jio Fin benefits from Jio’s robust digital ecosystem, allowing for seamless online operations and customer interactions.
Cost Efficiency: By operating primarily online and without physical branches, Jio Fin significantly reduces overhead costs compared to traditional banks.
Innovative Technology: Jio Fin leverages cutting-edge technology to streamline processes, offer personalized services, and stay ahead of the curve in digital finance.
Extensive Reach: With Jio’s widespread network across urban and rural areas, Jio Fin can reach a vast customer base, including underserved segments of the population.
Strategic Partnerships: Collaborations with global financial players like BlackRock enhance Jio Fin’s product offerings and capabilities, giving it a competitive edge in the market.
Customer-centric Approach: Jio Fin prioritizes customer experience, offering tailored solutions and proactive support, thereby building strong loyalty and retention among its clientele.
Agility and Adaptability: Jio Fin’s nimble operations and agile decision-making enable it to respond quickly to market changes and customer needs, staying ahead of competitors.
Jio Financial Services Investor Presentation
Conclusion
The future of Jio Financial Services looks promising, with immense potential for growth and expansion. As more individuals and businesses embrace digital financial services, Jio Fin is well-positioned to capture a significant market share.
Market Expansion: Jio Fin is set to capitalize on India’s growing demand for digital financial services. With its innovative approach and digital infrastructure, it can reach both urban and rural markets effectively.
Product Diversification: Jio Fin aims to expand its offerings beyond traditional banking and investments. By introducing new fintech solutions and insurance products, it can cater to a wider range of customer needs.
Technological Advancements: Jio Fin’s commitment to advanced technology will enhance customer experiences and streamline processes. Investments in artificial intelligence (AI), data analytics, and blockchain will keep it ahead in the market.
Strategic Partnerships: Collaborations with global financial institutions will accelerate Jio Fin’s expansion into new markets and introduce cutting-edge financial products.
Customer-Centric Focus: Jio Fin’s dedication to customer satisfaction remains key. Personalized services, responsive support, and transparent pricing will foster lasting customer relationships.
With its customer-centric approach and continuous innovation, Jio Fin is poised to introduce new features and services that will further enhance its value proposition. As the financial landscape continues to evolve, Jio Fin is likely to play a pivotal role in shaping the future of finance.
FAQs
What services will the new joint venture between Jio Financial Services and BlackRock offer?
The joint venture aims to establish a wealth management and broking business in India. This venture will likely offer a range of financial services, including investment advice, portfolio management, trading, and potentially other wealth management solutions tailored to the Indian market.
How will the partnership between Jio Financial Services and BlackRock benefit customers?
Customers can expect to benefit from the combined expertise and resources of both companies. With BlackRock’s global reputation and Jio’s extensive digital infrastructure, the partnership may offer innovative financial products, personalized services, and enhanced access to investment opportunities, ultimately aiming to empower customers to achieve their financial goals more effectively.
What are the key services provided by Jio Financial?
The key services provided by Jio Financial include banking services, investment and trading, wealth management, insurance solutions, digital payments and transactions, and loan products.
With the ICC World Cup 2024 underway, cricket fans everywhere are glued to their televisions and smartphones, ready to witness all the thrilling matches. Everything that has been presented during live broadcasts is merely the surface of what lies beneath; an entire ecosystem is responsible for these broadcasts. Companies just make sure that every touchpoint has been examined, starting from securing media rights from the ICC and airing the matches.
The media rights to air the broadcasting firm purchases any ICC events for a substantial sum. The corporation then makes money through advertisements or by negotiating contracts with co-sponsors. Since the vast majority of Indians are avid cricket fans, many firms have spent a lot of money on securing media rights for the Indian market. This presents a fantastic potential for them to increase their revenues even higher.
Disney Star All Eyes up for More Than 1600 CR Ad Sales
Disney Star, the official media rights holder for this season’s ICC Men’s T20 cricket World Cup, is expected to earn approximately INR 1,600-1,800 crore in advertising income, comparable to the amount they made during the last event in Australia two years ago. Forecasts indicate that the broadcaster’s advertising roster will mirror that of the current Indian Premier League. Disney Star anticipates winning over prominent sponsors like those seen in the BCCI-backed cricket tournament IPL, even though it is still inking deals and is in the final stages of selling around 40% of its advertising spot inventory already.
Ajit Varghese, the executive vice president of advertisement sales, stated that broadcasters have witnessed a notable increase in interest in the gaming, banking, and finance services sectors inside cricket, both last year and this year. Additionally, industrial items and infrastructure will also prove to be formidable categories for advertisements. Interestingly, fast-moving consumer goods businesses’ contributions to cricket revenue have increased from single digits to significant double digits.
ICC Cricket Rankings: Leading Menâs TWENTY20 Countries Worldwide as of May 2024
Disney Star Is Reshaping the T20 World Cup Advertising Pricing
Disney Star has reduced advertising fees for the 2024 ICC Men’s T20 World Cup in comparison to the 2022 tournament. The television network is requesting prices from advertisers of more than INR 6.2 lakh for each 10-second spot, with spot buyers paying an additional INR 6.4 lakh per spot. For the 2022 event, the broadcaster asked sponsors and spot buyers for ad rates of between INR 9 to 10 lakh, respectively.
Advertisements for each Twenty20 World Cup game fell 47% from the previous year, according to a recently published media report. The Disney Star is requesting donations of more than INR 60 million from co-presenting sponsors for both SD and HD channels, after successfully bidding $3 billion for the 2024â27 cycle to acquire media rights in India.
Disney Star has recently disclosed its 19 sponsors for the 2024 ICC Men’s T20 World Cup. Dream 11, Maruti, AMFI, Parle Products, BPCL, Haier, ICICI Bank, Jockey, KP Group (Kamala Pasand), Reliance Retail, Samsung India, Housing.com, Jaquar Group, Castrol, Kent RO, TVS Eurogrip, Macho Hint, and McNroe are some of the brands that are included in this category. In addition to the knockout matches, it is anticipated that the match between India and Pakistan that will take place on June 9 will be the most watched match of the tournament.
This diversified set of sponsors demonstrates the longstanding popularity of cricket as well as the strategic importance of sports consumption and the supply of creative content. As preparations are being made for this monumental event, we are looking forward to an incredible celebration of cricket that will bring together ardent fans and players from all over the world, Varghese said.
The matches will be broadcast solely on the Star Sports network, and they will be accessible to mobile subscribers of Disney+ Hotstar for free streaming.
FAQs
Where is the ICC Men’s ODI World Cup 2024?
The ICC Men’s ODI World Cup 2024 is in The United States and West Indies from June 1 to June 29.
What is the prize money for winning the 2024 T20 World Cup?
The International Cricket Council has announced a record prize of USD 11.25 million (approximately INR 93.5 crore) for the 2024 T20 World Cup.
How many teams are there in the T20 World Cup 2024?
There are 20 teams which are divided into four groups in the T20 World Cup 2024.
Compaq dominated the PC industry in the 1980s and 1990s. It was the first brand to develop a legal IBM PC clone successfully. They set ultimate standards in the desktop computers and servers market space. Their service was so good that they dethroned IBM as the best PC brand.
Compaq once was the epitome of innovation and success. It took the computer world by storm. It had quite a remarkable journey that ended in disastrous failure. It was a former computer retailer giant until its acquisition.
This is the story of its unfortunate downfall. What could have ended its glorious reign? Time to find out!
The 1990s saw Compaq reach its peak. It became the biggest PC (personal computer) supplier across the world. However, its rise was not sustainable. Why? It failed to adjust to the changing times. Compaq could not cater to the consumer preferences.
Its focus was on low-quality PCs with low cost. Their emphasis was always on affordable products. Hence, they could not grapple with the new technology trends. Overlooking user-friendly technology and connectivity led them to lose the battle against other big forces like Dell, HP, and IBM.
Unfortunately, Compaq lost its battle against big companies. Finally, in 2002, HP acquired the company.
Global PC Market Share by Units, Percent in 2000
Beginning of a Downfall: A DEC Merger Gone Wrong
Many would argue that the merger with Digital Equipment Corporation (DEC) was the beginning of Compaq’s inevitable downfall. In the beginning, Compaq was still at the top of the industry. On paper, this merger was everything good. However, practically, it did not play out properly. Let’s understand how this merger contributed to Compaq’s downfall:
Compaq emphasizes functionality and power. Their focus advertisement was in the opposite direction of other contemporary companies. It did not move towards nix Systems and minicomputers like DEC. The merger first got a push from 42nd to 28th in the Fortune 500, putting it ahead of Intel.
DEC and Compaq were a great match. However, DEC also had other products like minicomputers, computer chips, and Unix systems. These had no use to Compaq. But still, it did invest in these products as well.
Compaq paid almost $9.6 billion to DEC in 1998. The company divested some of the DEC’s parts that it did not want. Then, Intel bought what was left of the chip-making business. This happened before the Compaq-DEC merger came into effect.
After a year, Compaq sold the search engine to Altavista, and DEC sold its printer business to Genicom. The rough estimation of the deal was nearly $2.3 billion.
Soon after the merger, the CEO and CFO of Compaq had to resign from their positions. Their sales dropped, and they fell into the trap of many scandals. According to surveys, in 1999, companies like IBM, Dell, and HP saw a rise in their sales. Consequently, Dell took over Compaq and reached the top of the PC industry.
Compaq’s merger with DEC is not the only reason for its downfall. There are other factors at play here. Let us take a look at these reasons:
Failure to Cope with Changing Technologies
The company faced a drastic sales dent in 1999. Businesses were worried that their ancient technology would succumb to the Y2K bugs. Dell, HP, and other big companies saw technology as an opportunity and acted upon it. However, Compaq failed to see a loss in revenue and surplus inventory.
Deteriorating Company Culture
Workplace culture is more important than we might understand. The merger did not improve company morale. The differences started to degrade the workplace culture. Employees missed deadlines, and sales dropped. Retailers felt compelled to sell the products at insanely low rates. Partners were not happy, given such a culture.
Failure to Battle with Increased Competition
Intel took over the status of Compaq. It began a campaign that developed the idea that a computer’s most important part is the CPU.
The competitors sold products at a less expensive rate. Moreover, they also offered essential computer parts. Intel was a large company that easily beat Compaq in profits and revenue. Finally, HP acquired Compaq after losing its market value and shares.
Failure to Walk in Sync with the Market Trends
The company could not embrace the retailer-to-consumer business model. Its other contemporary companies did not commit this mistake. Compaq and Dell were traditional retailers.
However, Dell adjusted to the change to better consumer interaction and better customer service with quick delivery. When Compaq could not adapt to the direct consumer sales, others overtook it in the race.
The Bust of Dot Com Bubble
The dot com bust was harmful to Compaq in two most prominent ways. First came the quick fall of several internet startups. Next, Compaq lost a big chunk of customers because dot coms usually bought huge numbers of apparatus.
Some may not even be in use. Compaq had to fight its surplus until the market could absorb it. When the company liquidated its assets the market was also dwindling with surplus equipment flow.
The early 1990s and 2000s gave Compaq a tough time. A wrong merger is a huge dent in a company’s reputation and revenue. They could apply proper strategies to combat difficult times if they could adjust to the market’s needs.
The company could have used technology to its advantage. However, it did not innovate nor create any counter-business model. After the merger, they could have made the next destructive wave in their counterattack.
The new technology core has several advantages:
Capitalizing on these new opportunities could help Compaq to please consumers and predict their preferences.
Consumers are now picky about pricing and product preferences. So, Compaq could create a positive effect by focusing on smartphones and other advanced gadgets.
Why Did Compaq Fail | Compaq Downfall Timeline
Compaq’s Failure: Key Highlights
As we have learned, several factors have contributed to Compaq’s downfall. A once-celebrated Compaq was now like a fallen angel.
Hewlett-Packard (HP) acquired Compaq in 2002 for approximately $24.2 billion.
After the acquisition, Compaq products got a rebranding as lower-end HP PCs.
In 2013, the Compaq brand was discontinued.
Several companies often fail due to a lack of innovation, changing market trends, underestimating competitors, etc.
Brainstorming and constant innovation are what businesses need to have a sustainable future.
So, streamlining your business with proper management processes improves engagement and sales.
To Wrap Up
There is a good chance that people think of Microsoft, Apple, Dell, and HP when they think about big PC players. However, the scenario was a bit different two decades ago. The big brand was none other than Compaq. People would have considered Compaq their first choice when purchasing their personal computers.
Compaq did put up a fight until the very end. It tried to battle the inevitable. However, Compaq could not stop the pending doom. The merger with DEC started a domino effect that caused irreversible damage. Next was the dot com bust that added to the fire. It hurt Compaq in its own market space. The company had quite a good run. However, its shortsightedness resulted in a spectacular failure.
FAQs
What was Compaq known for?
Compaq was a leading PC manufacturer in the 1980s and 1990s. It was the first brand to develop a legal IBM PC clone successfully.
Which company acquired Compaq?
Hewlett-Packard (HP) acquired Compaq in 2002.
What lessons can we learn from Compaq’s downfall?
To stay competitive, businesses must adapt to changing markets, embrace innovation, and maintain a strong company culture.
Sports performance analysis and management have undergone a profound transformation in recent years, thanks to relentless advancements in technology.
Artificial Intelligence (AI) and data analytics have become game-changers, offering a plethora of advantages to the sports industry. The ability to harness real-time data through sensors, wearables, and tracking devices has empowered teams to delve deep into player performance metrics like never before.
Imagine a world where every move, every heartbeat, every step is meticulously analyzed to unlock the secrets of peak athletic prowess.
Let’s explore how AI and data analytics are reshaping the landscape of sports performance analysis and management, paving the way for a new era of excellence.
AI and Data Analytics in Sports Performance Analysis
In the realm of sports performance analysis, Artificial Intelligence (AI) stands as a formidable force, revolutionizing the way teams evaluate and enhance player capabilities. Through sophisticated algorithms and machine learning techniques, coaches and analysts can now dissect vast troves of data, extracting invaluable insights that were once out of reach. This data-driven approach empowers decision-makers to craft more informed strategies, optimizing training regimens, game plans, and player development with pinpoint precision.
Harnessing the Potential of Data Analytics
The fusion of AI and data analytics has ushered in a new era of sports analysis, where performance evaluation transcends conventional boundaries. By tapping into a rich tapestry of player data, coaches and analysts can unravel intricate patterns and trends, shedding light on areas for improvement and avenues for growth. Armed with this wealth of information, teams can fine-tune their approaches, refine their tactical acumen, and propel their athletes to new heights of excellence.
“We emphasize leveraging cutting-edge technologies such as AI, Machine Learning, and computer vision to introduce features like automated scoring, game highlights, and professional-level statistics, which were traditionally accessible only to top-tier athletes. These innovations enhance the player’s physical capabilities and democratize high-tech sports analytics, making these advanced toold available at the grassroots level,” Game Theory Founder and CEO Sudeep Kulkarni told StartupTalky. Game Theory is sportech startup that is making sports accessible to all age groups.programs
Delving into Real-time Data Insights
One of the standout advantages of AI and data analytics in sports lies in the ability to capture and analyze real-time data streams. From sensors and wearables to tracking devices, teams can monitor a myriad of player metrics instantaneously, from speed and distance covered to heart rate and biomechanical movements. This real-time analysis empowers coaches and analysts to make on-the-fly adjustments, optimizing performance and mitigating injury risks in the heat of competition.
Applications of AI in Sports
Redefining Performance Enhancement Strategies
With the advent of AI, the landscape of performance enhancement and injury prevention in sports has undergone a monumental shift. By vigilantly tracking player metrics, coaches can pinpoint indicators of fatigue, overexertion, and injury susceptibility, enabling proactive interventions to safeguard athlete well-being. Moreover, AI algorithms can forecast injury probabilities based on historical data, allowing teams to preemptively address potential risks.
“AI performance tracking software provides unbiased data collection, aggregation and performance analysis. It can also be utilised to study an opponent and build strategies to exploit the opponents weakness and maximise the chances of success. AI has also been used to judge the performances of athletes. For eg. The AI-powered Judging Support System (JSS) was used in the 2023 Gymnastics World Championships. AI performance tracking can also help in injury prevention and recovery monitoring,” Tagglabs Founder Hariom Seth told StartupTalky.
Tagglabs is a startup focused on inventions in new media and technology for marketing and communications. “At present AI is used to engage fans of Indian sports teams. We too used AI to generate personalized, shareable videos for fans featuring top cricketers for Seagramâs Royal stag,” Seth said.
Royal Stag | A Billion Films For A Billion Fans
Tagglabs has been serving clients–Vodafone, Kingfisher, Nike, LG, Samsung, BMW, Audi, Volkswagen, Honda, Hyundai, Tata Motors, and Times Group–with the latest AI techniques. It crafted a video experience for ICC Men’s Cricket World Cup 2023 using AI and boAt.
Real-time Data Collection and Analysis
Real-time data collection and analysis have become indispensable tools for teams seeking a competitive edge. The ability to gather and analyze vast amounts of data in real-time has revolutionized how teams evaluate and improve player performance, leading to more informed decision-making and enhanced training strategies.
“The rise of OTT platforms has provided unprecedented access on demand to sports content that would otherwise not be telecasted on linear TV due to limited availability of slots. With scope for hosting live matches, highlights, as well as exclusive content on OTT platforms, sports with lower visibility have an opportunity to enrich their engagement with audiences. AI-driven features can further empower sports organizations to deliver immersive content that enhances fan engagement and transforms the viewing experience,” Stupa Sports Analytics CEO and co-founder Megha Gambhir told StartupTalky.
Stupa Sports Analytics modernizes sports with its AI and tech-driven solutions, benefiting players, fans, federations, and rights-holders, said Gambhir. “The AI tech curates highlights and reels for federations and players, opening up new monetization avenues.”
Sensors, wearables, and tracking devices play a crucial role in the real-time data collection process, providing valuable insights into various aspects of player performance such as speed, distance covered, heart rate, and biomechanical movements.
Continuous monitoring of player metrics through these technologies allows coaches and analysts to make immediate adjustments to training and game strategies, optimizing performance and reducing the risk of injuries.
The real-time analysis of data enables proactive interventions, such as adjusting training loads, implementing recovery protocols, and modifying playing time, to enhance performance enhancement and injury prevention strategies.
“Real time data collection provides instant feedback to coaches and players during training sessions and matches. It allows for quick adjustments in tactics and strategies based on real-time insights. It enhances the overall spectator experience by providing engaging real-time statistics and analysis,” Jatin Paranjape, former Indian cricketer turned sports entrepreneur, shared with StartupTalky. Paranjape is a CEO and founder of KheloMore.
KheloMore is a digital platform that unites aspiring young athletes with coaches and academies, facilitating exceptional offline performance opportunities.
By harnessing the power of real-time data collection and analysis, teams can pinpoint areas of improvement and tailor training strategies for optimal results. The seamless integration of AI algorithms into the decision-making process empowers teams to make informed choices that prioritize player well-being and performance excellence.
Data-driven insights pave the way for customized training programs that address individual player needs and optimize overall team performance. By analyzing biomechanical movements and physiological measurements, coaches can identify patterns that may lead to inefficiencies or injury risks. The combination of real-time data analysis and personalized coaching strategies sets the stage for a new era of sports performance enhancement, where every decision is rooted in data-driven precision.
Through the strategic application of AI and data analytics, teams can create a culture of injury prevention that fosters sustained performance excellence and longevity in athletes.
By simulating different game scenarios and predicting the effectiveness of various strategies, coaches can make informed decisions in real time, giving their team a competitive edge on the field. The fusion of technology and strategy reshapes the landscape of sports, propelling teams toward success through intelligent decision-making.
“Technology empowers young athletes and coaches by democratizing access to pro-level analysis and tools. This approach helps nurture grassroots talent and instill a sense of competitiveness by providing insights that were traditionally available only to top-tier athletes. Coaches can use this data to tailor training programs more effectively, monitor athletes’ progress in real-time, and make data-driven decisions that enhance performance outcomes,” Kulkarni commented.
The marriage of cutting-edge technology and athletic prowess propels teams towards peak performance, setting new standards of achievement and innovation in the dynamic world of sports.
Global Sports Analytics Market
Tactical Analysis and Game Planning
Coaches and analysts now have access to a treasure trove of historical game footage and player performance data, allowing them to uncover intricate patterns and trends that were previously hidden. This innovative approach enables coaches to identify specific player tendencies, exploit opponent weaknesses, and optimize their team’s performance to achieve victory on the field.
Moreover, the power of AI and data analytics extends to simulating different game scenarios and predicting the effectiveness of various strategies. Through sophisticated algorithms, coaches gain valuable foresight into the potential outcomes of their decisions during matches, equipping them with a strategic edge over the competition. This forward-thinking approach to game planning not only enhances performance but also fosters a culture of continuous improvement and strategic innovation within sports teams.
By integrating data-driven insights into their decision-making process, coaches can optimize player positioning, refine tactical approaches, and instill a winning mindset in their teams. This meticulous attention to detail and strategic finesse set the stage for a revolution in sports performance analysis, where data reigns supreme in shaping the future of competition.
By harnessing the power of technology to decipher complex patterns and optimize strategic decisions, coaches and teams can unlock a new realm of competitive advantage and performance excellence. This data-driven approach not only enhances team performance but also elevates the overall spectator experience by showcasing the artistry and precision of strategic gameplay.
Talent Identification and Recruitment
In addition to enhancing on-field performance, AI and data analytics have also revolutionized talent identification and recruitment in sports. Teams can now leverage advanced algorithms to sift through massive amounts of data to pinpoint potential future stars. By analyzing player statistics, movement patterns, and even social media activity, organizations can make more informed decisions when scouting for new talent.
Conclusion
In conclusion, the integration of AI and data analytics in sports performance analysis and management has ushered in a new era of precision and innovation. The ability to gather and analyze real-time data has provided teams with unprecedented insights into player performance, leading to enhanced training programs, injury prevention strategies, and tactical game planning.
With the power of AI at their fingertips, sports organizations are better equipped to identify and recruit top talent, ultimately shaping the future of sports as we know it. As technology continues to evolve, the possibilities for further advancements in the sports industry are truly limitless.
FAQs
What is the role of technology in sports performance analysis and management?
Technology, particularly Artificial Intelligence (AI) and data analytics, has revolutionized the way sports performance is analyzed and managed. It allows teams to gather and analyze vast amounts of real-time data on various aspects of player performance, ultimately leading to improved outcomes.
How does AI and data analytics benefit sports teams?
AI and data analytics enable teams to collect data on player performance metrics such as speed, distance covered, heart rate, and biomechanical movements. This information helps in enhancing performance, preventing injuries, strategizing game plans, and identifying and recruiting talent effectively.
How does real-time data collection and analysis impact sports performance?
Real-time data collection and analysis through sensors, wearables, and tracking devices provide teams with immediate insights into player performance. This allows for quick adjustments during training sessions and games, leading to better decision-making and overall performance improvement.
What are some key areas where AI and data analytics are utilized in sports?
AI and data analytics are commonly used in sports for performance enhancement, injury prevention, tactical analysis, game planning, and talent identification and recruitment. These technologies have become essential tools for teams looking to gain a competitive edge in today’s sports landscape.
One of the most promising places to set up shop and build a successful trading model is India. This is why a lot of big multinational businesses are pouring money into the country in anticipation of their future growth. Wright, a market research company, has reported that the Indian financial markets are quite active and optimistic. This expansion is changing the face of the Indian market and fueling the dreams of millions of people, not merely numbers on a graph. Significant governmental reforms, rising local demand, and large foreign investments are key factors shaping this dynamic economic landscape. A lot will change for India’s economy in the 2024 elections. Preliminary surveys and market reactions point to a stable government, which could have far-reaching consequences for both the near-term stability of the market and the direction of economic policy in the long run. These elections are a barometer for investor confidence and economic policies for the future, in addition to testing the waters of political strength.
India is all set to witness some of the interesting trends lately and these developments are all poised to take the market to a new level.
Elaborating further on that note, Ivy Chin, Partner, Inflection Point Ventures stated, âIn 2024, I anticipate a rise in the number of agreements of a higher magnitude. With all the preparation that has gone into the past few years, this would be growth capital for start-ups that are entering their later stages of development, as well as investments in some of the most intriguing new areas, such as space and artificial intelligence. Not only have these two areas been changing, but investors’ knowledge of them has also grown. With the proliferation of both startups and the ecosystem supporting them, angel investing is only going to increase. In my opinion, more interest and money will be directed towards improving our knowledge of sustainability and clean tech health and our capacity to drive their monetization. Finally, as the world becomes more interconnected, investors will seek businesses both domestically and abroad.â
Echoing similar sentiments, Deep Bajaj, Co-Founder, of Sirona Hygiene and an Angel Investor stated, âParticularly in sectors experiencing disruptive innovations and fast technical advancements, we anticipate that investment levels will continue to rise. There will likely be a rise in interest in later-stage investment rounds as companies expand and seek new opportunities. Renewable energy, health tech, and artificial intelligence are three sectors that are anticipated to attract a lot of investment due to their enormous return and impact potential.â
Following the 2024 elections, investors anticipate further policy improvements and the possibility of economic stability. Shareholders should have more faith in the market and better stock performance in such a reformative and stable environment. Market downturns should be seen as chances for investors to strengthen and diversify their holdings, especially in industries expected to experience growth as a result of policy initiatives or international economic trends. The hope for a stable administration is boosting spirits since, in theory, it should make economic and corporate decisions and policy execution easier by creating a more predictable environment.
Many investors are being enticed by the ideas of digitization, renewable energy, sustainability, etc., and have already begun investing in this domain because the current administration is actively encouraging it. Considering that the majority of surveys predict that the present alliance will serve a third term, it appears that this investment trend will continue.
âInvesting in rapidly growing digital companies is a smart move since technology is always changing, which encourages innovation and undermines existing industries. In addition, there are attractive investment opportunities in solar, wind, and other clean energy companies due to the worldwide emphasis on sustainability, which is driving the renewable energy sector ahead,â stated Chin.
âInnovations in biotechnology and healthcare startups that improve both accessibility and the quality of healthcare delivery are attracting more and more investors. In 2024, I intend to stay away from eCommerce companies that fail to differentiate themselves in terms of technology or marketing strategies, as well as SaaS companies whose capacity to scale and generate revenue is not clearly defined,â he added further.
Bajaj seconded the views of Chin and said that when it comes to waste management, renewable energy, and eco-friendly alternatives, they think modern innovation holds a lot of potential for tackling sustainability concerns. Traditional manufacturing and other legacy sectors may not be suitable for their investment strategy in 2024 due to their inflexible regulatory environments or low levels of scalability.
Preferred Sector for Investment in India as of February 2023
Elections and Stock
The 2024 elections are going to be a watershed moment, and early predictions are pointing to a win for the current administration, which is seen as reform-minded and sympathetic to the market. Markets are influenced by expectations, which can cause them to invest more in sectors that government policies are projected to help. For example, following the re-election of a reform-minded administration, which had significant market gains in the months that followed, the market reacted positively to the election of governments seen as being open to reform. The markets might keep going higher in 2024 if the results hold true and a government focused on reform is created or re-elected. This would be because investors are hoping for stable and supportive economic policies.
Stretching further on the current election fever, Chin opined, âGlobal conflicts have the potential to negatively affect the supply chain and the price of resources because the globe is always changing. In light of the foregoing, the Indian startup system would benefit from the outcomes of elections that indicate stability, emphasize a longer-term plan, and invest in and drive clear policies. Greater government support and investor confidence might increase funding opportunities and access to capital for entrepreneurs if election optimism holds. This, in turn, might stimulate innovation and economic growth.â
Differing from the above views, Bajaj said, âWhile fundamental market dynamics and long-term strategic factors often inform our funding decisions, political events like elections can introduce short-term volatility and changes to the investing environment. We remain vigilant in our risk management efforts by closely monitoring geopolitical events and adjusting our investment approach as needed. Our end goal is to identify innovative and robust companies that can thrive in the face of challenges and create lasting, valuable products and services.â
Traders are bracing for a dramatic increase in the Indian market when the current government gets re-elected, according to recent market trends. Investors are betting big on this development because they think the present administration will keep supporting them the way it has in the past. The areas of digital innovation, sustainable practices, and renewable energy are expected to attract substantial investment due to the high expectations of investors in these areas. There has been a marked improvement in the investment climate in India.
FAQs
What are the anticipated trends in investment for India in 2024?
Investors expect increased investment in sectors such as space, artificial intelligence, renewable energy, health tech, and digitization.
How are investors perceiving the impact of the 2024 elections on the Indian market?
Investors anticipate policy improvements and economic stability post-election, leading to better stock performance and increased investment opportunities.
What are some key factors fueling the optimism in the Indian financial markets?
Significant governmental reforms, rising local demand, and large foreign investments are fueling the optimism in the Indian financial market.
Unscrupulous advertising has become the standard in many industries because of the cutthroat nature of modern competition. Even the most sacred and innocent of all sectors, education, which shapes the nation’s leaders of tomorrow, has begun to wear shades of grey. Students in today’s academically competitive world are always looking for top coaching institutes where they can hone their skills and achieve their academic goals. The competition among educational institutions is fierce, and some resort to dishonest means to attract as many pupils as possible.
Advertisements for these educational institutions often make exaggerated claims about the placement rates they provide, the percentage of students who pass their entry examinations, or the affiliations they have earned. Their advertising budget for television and internet platforms is close to Rs.38,000 crore.
False data regarding placements is alleged in numerous situations. A fraudulent advertisement for Manav Knowledge City, a school in Maharashtra, falsely claimed that its students would achieve the highest academic results and placement rates. The advertiser’s claim that they had the lowest fees was likewise deemed false by the consumer forum.
The so-called “Coaching Centres” are raking in the dough as well. There are thousands of students signing up to study for admission tests. There is currently no mechanism to reimburse students whose payments have already been processed if they are dissatisfied with the service or cannot gain admission.
The Centre Offers Recommendations to Spot Deceptive Ads
On 9 January 2024, the Union Ministry of Consumer Affairs discussed recommendations to address misleading coaching marketing in the face of unethical actions by coaching institutes to attract employment or entrance exam candidates.
A committee led by Consumer Affairs Secretary and CCPA Chief Commissioner Rohit Kumar Singh discussed the issue. Last October, the CCPA, the nation’s top consumer watchdog, filed notifications to 20 IAS coaching institutes for “misleading” ads. According to the Union Ministry of Consumer Affairs, the CCPA’s committee on misleading coaching commercials met for the first time on Monday to review the proposed rules. According to the ministry, officials and stakeholders discussed the draft standards for misleading coaching ads.
Under the Consumer Protection Act 2019, a coaching institute’s advertisement could be misleading if it conceals essential information about the course chosen by successful candidates (free or paid), its duration, etc.
Coaching Market Size Worldwide
FIITJEE, the New Joiner
After publishing a national newspaper ad ridiculing a student who left the coaching facility for another, FIITJEE received huge outrage over the weekend. The student’s academic performance, school, and photo were displayed in the FIITJEE ad. In the wake of many student suicides, coaching institutes have been encouraged by the government to be sensitive to pupils. Social media users called the commercial “shameful” and “disgusting“.
A photo of the ad published by Assistant Commissioner of Income Tax, Government of India officer Katyayani Sanjay Bhatia on X revealed the issue. She tweeted- “A new low in advertisements FIITJEE. You are posting a picture of a child saying she performed badly because she left your institute! I have blurred the picture because I donât believe in this disgusting way of claiming your superiority by belittling a girl child”, she stated.
The daily’s front page advertisement claimed that the ex-student could have scored 100 NTA in JEE-Mains 2024 instead of 99.99 if she hadn’t left for a “EVIL Institute from Kota with a history of suicides“. JEE was also criticised for calling its competition “evil”.
FIITJEE vs Evil Institute
Effects on Education and Society
Coaching institutes in India have transformed education and society. These institutes claim to help kids succeed academically, but they have lowered school and college quality.
Coaching institutes also cause society’s obsessive fixation with exam outcomes. These institutes’ strong competitiveness has made parents, students, and schools prioritise grades over all else.
Holistic development and critical thinking are neglected in favour of rote memorisation and exam preparation.
Coaching institutes put kids under tremendous pressure. Many students feel overwhelmed by academic requirements. Constant stress can cause anxiety and despair.
People who know how to write and write daily, be it for fun, as a hobby, or for a living, always feel that there must be something to put your innate thoughts into words. They write letters, articles, records and minutes of meetings, and all these kinds of lettersâ joining letters, resignation letters, offer letters, letters to fathers, sons and wives and mothers, and my favourite, letters to pen pals. Those who write often understand something called writerâs block. It is a moment while writing when you canât finish a thought and can’t find words to describe a particular type of thought that seems to linger around some corner of your mind. And this is where I think ChatGPT can help.
For people who do not know what ChatGPT isâ it is a generative AI (Artificial Intelligence) Chatbot model developed by OpenAI. The company has been involved in Artificial Intelligence, ML, and deep learning research and development for many years from now. OpenAIâs ChatGPT is a conversational AI model based on the Generative Pretrained Transformer 3 (GPT-3) architecture.
Around 2017, a bunch of scientists who had previously worked at Google Brain developed the Transformer architecture, which was a big success in the field of generative AI. In 2018, OpenAI launched the first Generative Pretrained Transformer (GPT-1), and then in 2019 came GPT-2, further succeeded by the launch of GPT-3 in 2020. Recently, in March 2023, OpenAI launched its most ambitious project and the most advanced GPT model, the GPT-4.
ChatGPT has been trained on a diverse range of internet text, allowing it to generate human-like text in response to the given prompts. It is built on top of OpenAIâs GPT-3.5 and GPT-4 (ChatGPT Plus) foundational large language models (LLMs) and has been fine-tuned using bothâ supervised and reinforcement learning techniques, which allows it to process natural language more efficiently and converse better with users. It can interact conversationally, answer follow-up questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.
What Are The Ways ChatGPT Can Be Used For Content Creation?
ChatGPT is a generative AI and works on user input or prompts. Although it can understand human language and keep in mind the context of the conversation, you, as a user, must know what kind of content you want. You are to give it instructions to produce content and generate the sort of text you want. On the surface, ChatGPT can help with brainstorming content outlines. It acts like an editor, giving you direction and structure for your ideas, which can be especially useful when starting a new piece of content and needing guidance for organizing your thoughts. Ultimately, you have to come up with the original idea of where your content should be heading and what information you would like to use.
Letâs see how ChatGPT can help with content creation;
Creating Content For Websites And Blogs Using ChatGPT
When it comes to content writing for websites and blogs, there are a couple of things you need to keep in mind:
Researching facts and details about the topic
Flows of your blogs/article
Creativity
Add something new
ChatGPT is a powerful tool that can help you write a well-researched and succinct article or blog post. If used wisely, it can also create a wireframe of your article, with headings and subheadings, and create an intro, body, and conclusion as per your command.
Even if you put the title of your blog or article under quotes and ask it to write a blog, it will most certainly do that and will create a blog post for you.
Let me show you what I mean:
When I asked ChatGPT to write a blog on “why one should not write only using ChatGPT.â
It highlights that while ChatGPT has opened many possibilities in various applications, one should not solely rely on ChatGPT or any other language models as it lacks creativity and originality. The content produced might not always be factual, and you might have to fact-check yourself. The content might also lack emotional intelligence, and context will surely hamper your writing style.
ChatGPT response on Why one should not write only using ChatGPTChatGPT response on Why one should not write only using ChatGPT
So, what should be done instead? How to use ChatGPT for creating content? Well, the answer is simple as it said: treat it like an assistant and not a replacement.
Hereâs a list of things to follow:
You can ask ChatGPT for some background on the topic
Ask ChatGPT to create a wireframe for your blog post, and if you donât like it, ask it to be creative.
You can write an intro for your blog, put a different perspective, and if you want, you can ask it to rephrase some of the lines.
If you doubt the facts presented, you can ask it to show resources and check that out yourself to ensure accuracy.
When I’m creating content, I like to delve deep into research and explore various angles and perspectives. It’s important to consider different viewpoints and opinions in order to present a well-rounded argument. This is where ChatGPT can be an invaluable tool. It can present arguments from the opposing side of your viewpoint, which can help you strengthen your argument by addressing potential counterarguments. Additionally, ChatGPT can assist in refining your message by presenting alternative ways of expressing your ideas for different audiences. Overall, ChatGPT is a powerful resource for creating comprehensive and compelling content.
Brainstorming Content Outlines
After identifying the key points of your content, you may find it helpful to use ChatGPT as a tool to shape and generate content outlines. In my experience, this is one of the prime benefits of ChatGPT – it operates as a virtual editor, providing you with direction and form for your ideas. By utilizing the AI-powered assistance of ChatGPT, you can effectively structure and organize your content in a clear and concise way for your intended audience.
Summarizing Content
If you are looking for ways to make your research and planning phase easier while creating something, then ChatGPT can be of great help. One way to utilize ChatGPT’s abilities is by asking it to summarize lengthy blog posts, books, or video transcripts. I have found ChatGPT to be highly efficient in summarizing content. To request ChatGPT to summarize a blog post for you, you can simply say, “Can you please summarize the key concepts of the following blog post in a few paragraphs:” and provide the post details. While you don’t necessarily need to use the word “please,” it can be a polite way to request ChatGPT’s assistance.
ChatGPT is an amazing tool that can assist you in your research and planning tasks when creating content. However, it can also help you write complete content drafts for various purposes, such as blog posts, social media captions, video scripts, emails, and more. One of the best features of ChatGPT is that it can help you overcome writer’s block by providing you with a good starting point. All you need to do is give it an idea of what you want to write, and it will do the rest. For instance, if your boss has asked you to write an out-of-office email, you can rely on ChatGPT to help you compose a message that is both informative and playful. Thanks to its advanced programming, ChatGPT can suggest the right words and phrases to use, making the process of writing more efficient and less stressful.
Repurposing Content
I have discovered that ChatGPT is not only capable of generating content from scratch, but it can also be incredibly helpful in repurposing the content that I have created across various platforms. One notable example is the way ChatGPT can take a TikTok script that I have previously recorded and transform it into a highly effective post on LinkedIn. This capability has been a game-changer for me, as it allows me to maximize the impact of my content without having to start from scratch every time I want to post on a new platform.
Writing Proposals for Projects
One of the ways in which I find ChatGPT to be exceptionally useful is in creating proposals and documents for different projects that I am working on. Specifically, I have found that using ChatGPT for content writing is an excellent starting point for a wide range of internal processes or ad hoc tasks. With its impressive capabilities, ChatGPT has proven to be an invaluable tool that helps me to streamline my work and produce high-quality deliverables in a timely manner.
ChatGPT can help here as well. It can help you generate research you can use in SEO-focused content, saving you time and effort in gathering information for your content. In addition to writing and research, it can also perform specific SEO tasks to support your content creation. It can help with keyword research or content clustering, which is very useful in optimizing your content for search engines and improving its visibility. Another way ChatGPT can help with content creation is by creating embeddable elements and enhancements within your content. This can make your articles more engaging and linkable, thus improving their performance on search engines.
Mastering ChatGPT for SEO Content
Apart from that, ChatGPT can help you create other kinds of content as well. You can ask it to write letters to your boss on a particular matter or a letter to your mother, which you will have to edit personally, but it can get you started nonetheless. And sometimes a start is a good thing. Most people who write often struggle with where to start, and ChatGPT has been a big help.
ChatGPT can also help you with emails, speeches, codes, and creative writing like short stories and poetry, which is especially helpful for school-going kids and college students.
ChatGPT is a large language model or a conversational AI or chatbot trained to be informative and comprehensive, and it performs its job wonderfullyâ most of the time. It is introduced to a massive amount of text data (approx. 570GB in size and 6B parameters) and can communicate and generate human-like text output in response to a wide range of user prompts and questions. You can ask it to summarize a historical event; it will do just that. When it comes to content creation, it can help to improve the quality of content by providing writers with access to a more expansive range of information and perspectives. It can generate drafts that can further be edited by the writers themselves, speeding up the content creation process. However, despite its vast data set and training, ChatGPT still produces subpar content. It lacks the context, emotional intelligence, and sophistication of a human writer. Furthermore, its training dataset is limited to 2021, meaning it is stuck in 2021 while we are in 2023. So, most of the time, when it should, it fails to bring up new events that just happened. This is a problem, and if youâre a news writer, it matters even more. So, use it wisely and ethically.
Below are some helpful resources to learn more about ChatGPT and its effective usage:
The OpenAI website: This is ChatGPT’s official website. Here, you can find information about the tool, including its capabilities and limitations, as well as tutorials and examples of how to use it.
The OpenAI GitHub repository: This is an open-source community for ChatGPT developers that provides code examples and implementation details.
The OpenAI community forum: This platform enables developers and users to exchange insights and experiences regarding ChatGPT.
The OpenAI API documentation: This guide provides a detailed explanation of how to access and utilize the ChatGPT API to generate text.
The OpenAI blog: This website provides valuable information and best practices for utilizing ChatGPT.
FAQs
Can I use ChatGPT for content writing?
Yes. ChatGPT is an excellent tool for content writing, offering impressive capabilities to streamline the writing process and produce high-quality content efficiently.
How to use ChatGPT for content creation?
Hereâs a list of things to follow while creating content through ChatGPT:
You can ask ChatGPT to create a wireframe for your blog post, and if you are not satisfied with it, ask it to come up with something more creative.
If you need help writing an introduction for your blog, ChatGPT can provide a different perspective, and you can ask it to rephrase some lines.
If you have doubts about the facts presented in your blog, you can ask ChatGPT to show you resources to check for yourself and ensure accuracy.
Finally, if you need help concluding your blog post, you can ask ChatGPT to provide an ending.
How does ChatGPT help in creating SEO-friendly content?
ChatGPT can help to generate research that can be used in SEO-focused content, saving time and effort in gathering information for the content. In addition to writing and research, it can also perform specific SEO tasks to support content creation. It can help with keyword research or content clustering, which is very useful in optimizing content for search engines and improving its visibility.
As one of the country’s most important economic drivers, India’s agricultural industry is a vital cog in the wheel of the Indian economy. However, primarily due to urbanisation and industrialisation, the amount of cultivable land decreases as the nation’s population rises. The majority of Indian farmers are already working on very small plots of land, and any further reduction would be a death sentence for them. But now, this problem has a clear answer in vertical farming, which, with the help of modern technology, has the potential to revolutionise India’s agricultural sector.
According to the World Economic Forum, innovations in production technology have brought the concept of vertical farms within reach, making them a viable alternative to farming methods that rely on pesticides and fertilisers. The number of vertical farms in the United States has reportedly surpassed 2,000. These farms can outperform conventional outdoor growing methods while reducing water usage by 70% to 95% and can fit inside areas like buildings or shipping containers. The Indian Agricultural Research Institute (IARI) discovered that different fruit crops in the Delhi region could save about 25% in water and 30% in fertiliser by using the drip fertigation method.
Researchers at Research and Markets predict that between 2021 and 2026, the vertical farming industry in India will expand at a CAGR of over 20%. As mentioned in the research, vertical farming systems based on hydroponics account for most of the market share because of their efficiency and cheap operating costs.
Types of Vertical Farming Solutions Gaining Traction
The vertical farm setup comes in various techniques and sizes per the operations’ requirements. Currently, there 8 to 9 setups that are most popular in India, such as Vertical Farms in buildings, Container Vertical Farms, Underground Vertical Farms, Hydroponics, Aquaponics, Aeroponics, Rooftop Greenhouses, Soil Based Vertical farming, etc. Using technology in operations such as irrigation, crop monitoring, data collection, spraying of insecticides and pesticides, etc, has enabled cultivators to increase their output by going through precise data collected by installed sensors.
The National Institute of Agricultural Economics and Policy Research revealed that, depending on the technology employed, the cost of establishing a vertical farm in India can vary between 50 lakhs to 1 crore rupees per acre. Everything from lighting and irrigation systems to fertiliser solutions and the cost of constructing the vertical farm structure are necessary for crop growth.
An annual operating budget of 5â10 lakhs rupees per acre is typical for vertical farms. Everything from power to water to labour and other inputs needed for crop care and harvesting goes into this total.
The Indian vertical farming industry is highly competitive, with major competitors such as Fresher Underwater Farms Private Limited, Future Farms LLP, Triton Foodworks Private Limited, and Altius Farms Private Limited. These businesses aim to increase their market share by forming strategic alliances and creating cutting-edge technology.
Vertical Farming Crops That Generate A Profit
Certain crops can provide handsome profits to vertical farmers. Crops such as tomatoes, strawberries, mushrooms, peppers, etc., can strike the right chord for farmers. However, a vertical farm in India can grow various crops, not limited to the ones listed above. Demand, weather, and resource availability are some variables that will influence crop selection.
Since vertical farming allows cultivators to cultivate crops without soil, it has opened a gate for people living in deserted areas. Using technology such as hydroponics, aquaponics, and aeroponics, they can cultivate crops by installing a set-up in their location.
Hydroponics – Various aggregate substrates and growing media, including vermiculite, coconut coir, or perlite, are utilised in hydroponics, a method of plant cultivation that does not use soil but nutrient solutions based on water. Commercial enterprises, amateurs, and small-scale farmers all use hydroponic production systems.
Aquaponics – Hydroponics and aquaculture, or fish farming, are combined in aquaponic farming. In this system, plants clean the water for the fish, while the fish fertilise the plants with their excrement. Both grains and fish can be efficiently and sustainably produced in this way. Even in densely populated cities, residents can enjoy a steady supply of locally grown produce and seafood thanks to aquaponic vertical farms.
Aeroponics – One method of cultivating plants that do not require soil or other growing medium is known as aeroponics. A nutrient solution or aerosol of nutrient solution is misted or sprayed onto the plant roots at regular intervals while they are suspended in the air.
Market Share of Vertical Farming Worldwide, by Technology
Government Promoting Vertical Farm Culture
Considering that most companies engaging in vertical farming businesses are startups, it is of utmost importance for the central and state governments to support these new budding entrepreneurs. Given the promising future of vertical farming in India, the federal and state governments have taken measures to encourage farmers to use it.
Initiatives such as Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), National Horticulture Mission (NHM) and StartUp India are rightly aligned to provide needed fodder to these companies. With PMKSY, the government aims to latch on to the water-saving advantages of vertical farming, which is why it is actively promoting the use of precision irrigation systems and aims to improve agricultural water efficiency.
Similarly, with NHM it plans to provide financial assistance for the establishment of poly houses and shade net houses, which can be utilised for vertical farming purposes.
Lastly, StartUp India was created to strengthen and promote India’s startup scene. The Indian government hopes to turn the country into a startup nirvana with this flagship programme. The federal and state governments are working hard to ensure that all aspects of this enterprise are in sync, and they are speeding up the policymaking process to achieve this goal. This includes offering financial assistance to entrepreneurs and connecting them with mentors.
Vertical farming is growing crops in vertically stacked layers indoors, often in buildings or shipping containers.
What crops are profitable for vertical farming in India?
High-value crops with good demand, like tomatoes, strawberries, leafy greens, and peppers, are popular. However, crop selection depends on market demand, climate control capabilities, and resource availability.
How much does it cost to set up a vertical farm in India?
The cost varies depending on technology and scale. Estimates suggest a range of 50 lakhs to 1 crore rupees per acre for establishing a vertical farm, with an annual operating budget of 5-10 lakh rupees per acre.
Kinnary Nensee
