Nazara Technologies’ board has approved the issue of shares worth INR 410 Cr to SBI Mutual Fund, the company said in an exchange filing The funds will be invested via three schemes of SBI Mutual Fund, namely SBI MulScap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund Earlier this week, Nazara secured INR 100 Cr from firms managed by Zerodha founders SBI Mutual Fund is investing INR 410 Cr in Mumbai-based gaming and sports media giant Nazara. In a stock exchange filing, Nazara said that its board has approved the issue of shares worth INR 410 Cr to SBI Mutual Fund, which would include 57,42,296 equity shares with a face value of INR 4 each, at a price of INR 714 per share. The funds will be invested via three schemes of SBI Mutual Fund, namely SBI MulScap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund. “Making India the gaming nation of the world has been a long-pursued dream for all of us at Nazara. India’s largest domestic mutual fund investing in Nazara is an important milestone for us in this two decade long journey,” Nitish Mittersain, CEO of Nazara Technologies, said. This comes close on the heels of Nazara Technologies announcing the issue of shares worth INR 100 Cr to firms managed by Zerodha founders Nithin Kamath and Nikhil Kamath. The company plans to issue 14,00,560 equity shares with a face value of INR 4 each, priced at INR 714 per share. The shares will be proportionately allotted to M/s Kamath Associates and M/s NKSquared, a partnership firm represented by its partners Nikhil and Nithin Kamath, the gaming firm said. (This is a developing story)
Why This Award-Winning Piece of AI Art Can’t Be Copyrighted
An award-winning piece of AI art cannot be copyrighted, the US Copyright Office has ruled. The artwork, Théâtre D’opéra Spatial, was created by Matthew Allen and came first in last year’s Colorado State Fair. Since then, the piece has been embroiled in a precedent-affirming copyright dispute. Now, the government agency has issued its third and final decision: Allen’s work is not eligible for copyright. Now, Allen plans to file a lawsuit against the US federal government. “I’m going to fight this like hell,” he says. The problem? Allen used the generative AI program Midjourney to create his entry, and copyright protections are not extended to artificial intelligence—not even the kind that wows art judges. “It’s in line with previous decisions that require human authors,” says Rebecca Tushnet, a Harvard Law School professor and leading copyright scholar. It’s a precedent that goes back to 2018 when a photo taken by a macaque was declared public domain because monkeys can’t hold copyright. PETA may beg to differ, but under the law, monkeys and machines have about the same claim on copyright protections right now. (And this isn’t just in the US. In nearly every country, copyright is pegged to human authorship.) Allen was dogged in his attempt to register his work. He sent a written explanation to the Copyright Office detailing how much he’d done to manipulate what Midjourney conjured, as well as how much he fiddled with the raw image, using Adobe Photoshop to fix flaws and Gigapixel AI to increase the size and resolution. He specified that creating the painting had required at least 624 text prompts and input revisions. The Copyright Office agreed that the parts of the painting that Allen had altered with Adobe constituted original work. However, it maintained that other parts generated by AI could not be copyrighted. In other words: Allen could copyright parts of the painting, but not the whole thing. This July, Allen appealed once more, arguing that the office had ignored “the essential element of human creativity” needed to use Midjourney. He attempted to use the fair use doctrine to argue that his work should be registered, because it amounts to a transformative use of copyrighted material. “The underlying AI generated work merely constitutes raw material which Mr. Allen has transformed through his artistic contributions,” Allen wrote. The Copyright Office didn’t buy it. “The work cannot be registered,” it wrote in its final ruling on September 5. Allen’s dashed efforts highlight a solidifying legal consensus. This August, a US federal judge dismissed a case brought by Missouri-based AI researcher Stephen Thalus, who has been on a mission to prove that the AI system he invented deserves copyright protections. “Plaintiff can point to no case in which a court has recognized copyright in a work originating with a nonhuman,” wrote Judge Beryl Howell of the US District Court for the District of Columbia in her decision. Thalus is currently appealing the verdict. Ryan Abbot, his attorney, does not believe that the Copyright Office’s decision on Allen will have an impact on his client’s appeal. But he does see it as having a chilling effect on the wider world of AI-assisted art. “I think it will be a major disincentive to people developing and using AI to make art,” Abbot says.
Tesla: Cars may be your worst privacy ‘nightmare’ as Tesla, Nissan among ‘creepiest’, claims report
Modern-day cars are getting smarter by the day. However, it seems like there’s a huge privacy cost attached to it, claims a research report by Mozilla. “While we worried that our doorbells and watches that connect to the internet might be spying on us, car brands quietly entered the data business by turning their vehicles into powerful data-gobbling machines,” says Mozilla in a blog post. Mozilla reviewed 25 car brands in its research (in the US) to find out how those companies collect and use your data and personal information. The result? “Every car brand we looked at collects more personal data than necessary and uses that information for a reason other than to operate your vehicle and manage their relationship with you,” says Mozilla. Your data is being sold While collecting data is something almost every company ends up doing, car companies, as per Mozilla are selling that data as well. Almost 84% of the car brands Mozilla researches said they can share your data with other businesses, service providers and data brokers. 19% said that they can also sell your data.Bizarrely, the likes of Kia and Nissan say that they can collect information related to users’ sex life. The privacy policies of both car companies, as per Mozilla’s research, information about your sexual activity and sex life. Of all the privacy tests, Mozilla conducted Elon Musk-owned Tesla failed on all counts. A key reason behind this is Tesla’s AI-powered autopilot feature, which has led to several deaths and remains under investigation as well. Mozilla claims that it spent over 600 hours researching the car brands’ privacy practices, which is almost three times on any other product. “Even still, we were left with so many questions. None of the privacy policies promises a full picture of how your data is used and shared,” said Mozilla.
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Govt Working On Various Incentives For EV Industry: PM Modi
The EV industry has responded with greater innovation and the people are responding to it with greater openness to try the alternative, said PM Modi. Terming ONDC a futuristic initiative, the PM said the platform will create a level playing field for various stakeholders India’s tech revolution has had both economic and social impact, said PM Modi Prime Minister Narendra Modi has said that the Centre is mulling various sops for the country’s electric vehicle (EV) ecosystem. In an interview with Moneycontrol, PM Modi said the potential incentives will be offered to ensure India achieves its carbon emission targets. He also applauded the homegrown EV industry for spurring innovation in the emerging space. “The government has been working on providing incentives for the electric vehicle industry. The industry has responded with greater innovation and the people are responding to it with greater openness to try the alternative,” the PM said. Speaking about the Open Network for Digital Commerce (ONDC), he noted that the platform will create a level playing field for various stakeholders. Terming ONDC a futuristic initiative, PM Modi said the platform is well-poised to revolutionise the tech arena. “For a long time, India was globally known for its tech talent. Today, it is known for both its tech talent and tech prowess, especially in digital public infrastructure… The ONDC is a futuristic initiative that will revolutionise the tech field by creating a level playing field on digital platforms for a number of different stakeholders,” he added. He also said that various state-backed public digital infrastructure initiatives and platforms unveiled in the past nine years are having a ‘multiplier effect on the economy’, adding that India’s tech revolution has had both economic and deep social impact. The comments come at a time when the government has ramped up its focus on green technologies, especially the EV space. While work is underway on a new EV policy, the Centre is also mulling incentives in the form of lower import taxes for companies setting up manufacturing bases in the country. Even as the EV ecosystem grapples with the fallout of the FAME-II crisis, electric two-wheeler registrations continue to see marginal uptick. Total two-wheeler EV registrations in the country rose to 58,927 units in August from 54,498 units in July. On the other hand, the Centre has pulled out all the stops when it comes to its ambitious ONDC initiative. Built on the idea of open protocol, the network aims to break the silos related to ecommerce using an open-network methodology that is not limited to a single platform. The government aims to onboard 900 Mn buyers and 1.2 Mn sellers through the network, directly pitting it against the likes of behemoths such as Flipkart, Amazon, Zomato, Swiggy, among others, across various sectors.
Apollo: Apollo Hospitals partners with Google Cloud for its digital platform
Apollo Hospitals has announced a partnership with Google Cloud to put healthcare in the hands of every Indian with Apollo’s digital platform, Apollo 24|7. Access to healthcare in India is challenging. According to a report by McKinsey & Company, 60% of hospitals, 75% of pharmacies, and 80% of doctors are in urban areas. This leaves the rural areas underserved. So, this technology presents an opportunity to improve access to healthcare for Indians countrywide.Apollo 24|7: More detailsBuilt entirely on Google Cloud, Apollo 24|7 aims to deliver various healthcare experiences to people in India with telemedicine services, online doctor consultations, home delivery of medication, and improved clinician decision-making. Key pillars of this partnership include:The development of an AI-powered clinical decision support system: Apollo 24|7 teams worked with Google Cloud to build a Clinical Intelligence Engine (CIE) using Google Cloud’s Vertex AI and generative AI (gen AI) models. This enables doctors to identify the next best action for patients during consultations. The CIE service leverages data from Apollo Hospitals and large language models (LLMs) from Google Cloud to create a proprietary solution in which all patient data is kept securely within the hospitals’ systems.The AskApollo patient-facing service: The platform also powers AskApollo, which helps patients with care navigation services. This first-of-its-kind service is built on top of Apollo’s CIE, which was developed using millions of real-world clinical data points gathered over 40 years of clinical excellence, and analysed using Google Cloud’s advanced AI and machine learning technologies. Apollo Hospitals is also exploring the use of Med-PaLM 2, an LLM developed by Google that is trained in medical knowledge and can answer medical questions and generate clinical text summaries. Providing a highly scalable, modernised cloud platform for Apollo 24|7: Apollo 24|7 is India’s largest and fastest-growing health platform. In collaboration with Google Cloud partner, Searce, the Apollo 24|7 engineering teams deployed 78 microservices and 40+ databases on Google Cloud with zero downtime. The Apollo 24|7 data lake is also built on Google BigQuery, which brings together siloed data onto a single platform to help drive better decision-making and clinical outcomes.Delivering authentic healthcare information on Search: Google has long worked with Apollo Hospitals to source authoritative and helpful health information for features on Google Search. Google’s deep AI capabilities combined with Apollo Hospital‘s 40 years of experience in healthcare have the potential to make diagnosis more accessible, accurate and affordable. Both organisations are collaborating to find new ways to bring the best health information to people in the future.Google’s AI appraochGoogle Cloud’s approach to data governance and privacy policies ensures customers retain control over their data. In healthcare settings, access and use of patient data are protected through the implementation of Google Cloud’s reliable infrastructure and secure data storage, along with each customer’s security, privacy controls, and processes. Google’s approach to generative AI also means customers have access to monitor and review model outputs and leverage safety guardrails and model documentation to enable responsible use in a customer’s use case and context.
Upi Autopay: Razorpay partners with NPCI to launch UPI Autopay on QR for subscription-based businesses
Razorpay has launched the “UPI Autopay on QR’ in collaboration with NPCI at the Global Fintech Fest 2023. This solution aims to streamline and simplify the challenges associated with maintaining and expanding subscription-based businesses. UPI Autopay has emerged to become a popular way to make recurring payments. RBI’s Bulletin has also highlighted a 143% year-on-year growth in successful transactions under the UPIAutopay feature has been prevalent across various realms of businesses.From OTT platforms to investments and insurance, UPI Autopay is on its way to becoming the second nature of accepting and making recurring payments in India.Razorpay UPI Autopay on QR: How will it workRazorpay UPI Autopay on QR will help subscription-based businesses by harnessing the widespread use of QR codes for driving rapid adoption and quick acceptance. This will help the business to get more growth opportunities.Currently, customers are required to download the merchant app or log in to a website before they can subscribe to specific offerings. For example, if someone wants to subscribe to a particular OTT platform, they have to navigate through the entire process of visiting the platform’s website or landing page, logging in with their credentials, and then making a payment after selecting their preferred payment service provider app. The lack of innovation in subscription payment methods, such as the ability to use a single QR code for multiple users to enrol in the subscription has only made things worse. With ‘Razorpay UPI Autopay on QR’, businesses will now be able to broaden their reach, enhance visibility across markets, and ultimately accelerate their growth. After creating a QR for their subscription offerings, businesses will be able to use those in their marketing efforts across online advertisements, newspapers, billboards, websites, TV, product packaging, delivery bags, etc. This will enable them to drive better growth and sustain their footing in the market. Razorpay UPI Autopay on QR: What it means for usersRazorpay UPI Autopay on QR will transform customer onboarding into a swift 2-step process. This will involve ‘scanning and paying’ in just 30 seconds. This approach will replace the previous 6-step journey and will eliminate the need for downloading an app or signing up on the website. This new method will also allow multiple customers to conveniently scan through a single QR code.
Dma: Digital Markets Act: Apple, Google, Microsoft, Meta and others are now ‘gatekeepers’ in the EU
In a first, the European Commission has designated six technology giants – Alphabet (Google’s parent company), Amazon, Apple, ByteDance, Meta, and Microsoft – as gatekeepers under the Digital Markets Act (DMA). The commission has, in total, designated 22 core platform services provided by these gatekeepers.The DMA is aimed at making the European Union region’s markets in the digital sector fairer and more contestable. These six gatekeepers will now have six months to ensure compliance with the DMA obligations for each of their designated core platform services.What services are covered under gatekeeper designation?Alphabet: Google Maps, Google Play, Google Shopping, Google Ads, Android, Chrome, YouTube, Google SearchAmazon: Amazon Marketplace, Amazon AdsApple: App Store, Safari, iOSByteDance: TikTokMeta: Facebook, Instagram, Messenger, WhatsApp, Meta ads, Meta MarketplaceMicrosoft: LinkedIn, Windows PC OSProbe into Microsoft, Apple submissionsThe Commission also said that it has opened four market investigations to further assess Microsoft’s and Apple’s submissions. The companies argued that some of their core platform services do not qualify as gateways. They are: Microsoft: Bing, Edge and Microsoft AdvertisingApple: iMessageHowever, it is to be noted that these services meet the gatekeeper designation thresholds. According to the rules, any service offered by the company that meets two criteria are gatekeeper designated. These are: They have a market value of at least EUR 75 billion (approximately $82 billion), and Either own a social platform or app that is used by at least 45 million people every month or have at least 10,000 active business users. “Under the DMA, these investigations aim to ascertain whether a sufficiently substantiated rebuttal presented by the companies, demonstrates that services in question should not be designated. The investigation should be completed within a maximum of 5 months,” the commission said.The Commission has also opened a market investigation to further assess whether Apple’s iPadOS should be designated as gatekeeper, despite not meeting the thresholds.Some respite for Google, Microsoft, SamsungThe Commission has also said that it will not designate Gmail, Outlook.com and Samsung Internet Browser as core platform services despite noting that these services meet the thresholds under the DMA to qualify as a gatekeeper. This is because Alphabet, Microsoft and Samsung have “provided sufficiently justified arguments showing that these services do not qualify as gateways for the respective core platform services.” Next steps for designated gatekeepersGatekeepers now have six months to comply with the full list of do’s and don’ts under the DMA.“However, some of the obligations will start applying as of designation, for example, the obligation to inform the Commission of any intended concentration,” it said. In case a gatekeeper does not comply with the obligations, the Commission can impose fines up to 10% of the company’s total worldwide turnover, which can go up to 20% in case of repeated infringement.
Tactics to Create Pop-Up Messages That Actually Help Website Users
The subject of implementing pop-up messages on the website is debatable among marketers. The statistics from HubSpot show that 64% of customers find pop-up notifications annoying and intrusive. However, global brands such as Lego, Airbnb, Adidas, Ikea and others still use pop up message(s). So what is the secret of these page elements appearing while users browse the site? Their success depends on many factors. In this article, we will look at the tactics that can help craft user-oriented pop-ups to increase conversion and user engagement. What Are Pop-Ups? As the name implies, a pop-up is a website element that appears with a certain message. The functionality of such notifications lies in the fact that they can serve many purposes. Marketers use them to announce an offer, gather feedback, invite people to subscribe to newsletters or display any other kind of information. If not created properly, users might be annoyed by pop-up messages due to the following: They appear very often. When visitors just landed on the website and didn’t figure out what it is, and you over-burden them with new information, it will not play in your favor. The same applies when you implement pop-up elements very often. Prevent viewing the main content. The pop-up element is not created correctly if it covers the whole page and nothing can be seen through it. Cannot be closed. If the message is difficult to close, it will cause a lot of user dissatisfaction. They can even close the page without waiting until the closing button works. What Are the Best Tactics to Create a Powerful Pop-Up? This small message may seem very easy to craft. However, its creation requires thorough analysis of many aspects. Here are some rules that will help you create effective and not intrusive pop-ups. Define the Pop-Up Goal In this message every little detail matters. Think about what you would like to achieve with a pop-up notification. It should be a concise message that will not take more than several seconds to comprehend. Include interactive widgets in your message such as buttons, timers, progress bars, forms or any others that require a user’s action. Create Personalized Content The best way to catch a visitors’ attention is to tailor the pop-up message to their needs and interests. Depending on an individual, a notification should show the relevant information or even not show up at all. For example, based on what a user was searching for, you can offer a blog post to learn more about that. Or show what products they were viewing. Offer alternative options if these products are not currently available. For that matter, you can set rules, and the message will show up when the products are out of stock or a visitor has finished scrolling the page. For example, if you want to run a pop-up that encourages customers to subscribe to newsletters, it should be displayed for those not subscribed yet. Show It at an Appropriate Time and in Moderation No matter how exclusive your offer is, if it is shown from the first seconds visitors enter the website, it won’t have any value. Customers don’t know your brand yet; they are just exploring your website and won’t know how to apply what you offer. By analyzing a user journey, you can see when it is the most appropriate time to catch the visitors’ attention. Another rule for an effective pop-up message is to show it in moderation. These notifications really work, and they can bring positive results, but if shown on every corner and every five seconds, viewers will simply leave your platform. If a user dismissed the message for the first time, don’t show it again. Create Different Formats The success of any pop-up message also depends on its format. There are different formats for desktops and mobile devices. Thus, you have to build different pop-ups for different platforms. The size of the message also matters. It is ineffective if notifications cover the whole screen and a user can see nothing but the offer you promote. Don’t use overlays if you choose to display it at the center of the screen. What Pop-Ups Do Users Like? Customers love pop-ups if they provide value for them. Use these ideas to satisfy your clients: Offer discounts. Most visitors come to your website just to look at it. Not everyone is eager to buy from you from the very start. However, you can increase their desire to shop by offering an appealing discount. A great example of an offer is a spin-to-win pop-up message. The idea that you can get something for free or with a discount is more than attractive. Provide social proof. User reviews are what customers are looking for when considering a purchase. They want to see that the product is of high quality and that people who bought it are satisfied. So, provide this social proof in your pop-up message. Use written user reviews or videos to show what your clients think about your brand. Personalized recommendations. A few customers come to the website with a clear vision of what they want. But you can create personalized pop-up messages about what they would like based on their web search history. Limited time offers. Who wouldn’t like to buy a product at 50% off? And if such an offer is limited in time, it looks even more appealing. The timeframe influences the process of decision making and most customers will consider the offer now. Conclusion Pop-up messages might be annoying, but they might be engaging if designed correctly. The best tactics to follow are to set a clear goal for the pop-up, make it user-centric, show it at an appropriate time, and display it in the right format. The idea of a good pop-up message lies in the value it provides for a customer. Thus, think of a user first and then create a pop-up.
If Crypto is a Scam, Why Institutional Investors Want it?
The cryptocurrency landscape has been a subject of intense debate and skepticism. However, the increasing involvement of institutional investors paints a different picture. Let’s explore this further. The Rise of Institutional Interest Over the past few years, the attention and excitement around Bitcoin and other cryptocurrencies have grown exponentially. This has led to many questions, especially from institutional investors. Are hedge funds and other large investors genuinely buying significant amounts of cryptocurrencies? What purpose does it serve in their portfolio? In September 2021, the answers became clear. Data confirmed that Bitcoin has been increasing in institutional investment portfolios since early 2020. Philip Gradwell, Chief Economist at Chainalysis, noted that starting in mid-March 2020, there was a significant increase in Bitcoin being held by large investors. These investors were buying at least 1000 bitcoins each, suggesting an investment of more than $30 million at a time, indicating that hedge funds and other entities with deep pockets were involved. This shift in investment patterns indicates a growing trust in the potential of cryptocurrencies. The Shift in Perception In its early years, Bitcoin was often dismissed by institutions as a flashy, worthless digital asset favored by criminals. However, the sentiment has shifted dramatically. Bitcoin, which once seemed to be on an ideological collision course with institutions, now bears the hallmark of institutional acceptance. This change in perspective has been driven by Bitcoin’s outstanding performance relative to other asset classes. Today, family offices, hedge funds, and traditional money managers view cryptocurrency products and services differently. A staggering $17 billion worth of institutional capital has poured into the crypto space in just one year. This shift is not just about numbers but a fundamental change in how institutional investors perceive the value and potential of cryptocurrencies. The Role of Major Players When giants like BlackRock, the world’s largest asset manager with $9.5 trillion assets under management, add crypto to their balance sheets, it sends a powerful message. BlackRock is among the 16 mutual fund managers, including Morgan Stanley Investment Management, that have gained exposure to the crypto market. This involvement by major financial institutions signifies a broader acceptance and validation of the crypto market. Furthermore, endorsements by influential figures like Tesla’s CEO Elon Musk, as well as financial experts like Paul Tudor Jones and Ray Dalio, have bolstered confidence in the crypto space. The Reality of Scams Like any other sector, the crypto world is not immune to scams. However, labeling the entire crypto market as a scam due to the actions of a few malicious players is an oversimplification. The increasing involvement of institutional investors, the growing adoption rate, and the technological advancements in the crypto space all point towards a legitimate and promising future. It’s crucial to differentiate between individual fraudulent activities and the broader, genuine potential of the crypto market. The Current State of Institutional Crypto Investing The cryptocurrency landscape has evolved significantly, and institutional investors have played a pivotal role in this transformation. Here’s a snapshot of the current state: 1. BlackRock’s Foray One of the most significant developments in the crypto space was BlackRock’s move to file for a Bitcoin exchange-traded fund (ETF) through the United States Securities and Exchange Commission (SEC). This move by the world’s largest asset manager sparked a new wave of optimism around the crypto market. Following BlackRock’s lead, other major firms such as ARK Investment, Valkyrie, and Fidelity also filed their applications for a Bitcoin ETF. 2. Significance of Institutional Interest Ed Moya, a senior market analyst at OANDA, emphasized the importance of BlackRock’s interest in the crypto space. He highlighted that this move marked a turning point in dispelling the notion of cryptocurrencies as a fleeting trend. The interest from such a significant player signaled to many that crypto is here to stay. 3. Global Crypto Adoption While crypto adoption is progressing slowly, there’s a steady global interest. The regulatory environments in regions like the U.S. and Europe are still taking shape, which might be influencing the pace of adoption. However, blockchain projects are progressing, indicating a committed interest in the space. 4. Bitcoin ETFs and Mainstream Acceptance The momentum of Bitcoin ETFs has had a ripple effect on the broader crypto market. While Bitcoin ETFs haven’t ignited widespread interest, they have influenced the perception of cryptocurrencies. A spot Bitcoin ETF is seen as critical for further mainstream acceptance of cryptocurrencies. 5. Future Outlook The long-term outlook for Bitcoin and other cryptocurrencies will be influenced by several factors, including the development of central bank digital currencies, the adoption of smart contracts, and sustained public interest. If Wall Street remains committed to the crypto space and more investors allocate a portion of their portfolios to crypto, Bitcoin’s potential for significant rallies increases. Conclusion The involvement of institutional investors in the crypto market is a testament to its legitimacy and potential. While scams exist in every sector, it’s essential to differentiate between individual fraudulent activities and the broader, genuine potential of the crypto market. As the crypto landscape continues to evolve, it’s clear that its potential is being recognized and harnessed by some of the world’s most influential financial institutions.