Article: Why A.I. needs to be open to all

API, Open Infrastructure

Why A.I. needs to be open to all

Businesses of all sizes across different sectors are exploring or deploying Artificial Intelligence (A.I.) today more than ever before. This is game-changing for companies, as they look to leverage automation, natural language processing, data-driven decision-making, and a host of other capabilities. They are using A.I. to drive enhanced customer experience, complement their knowledge workers, boost innovation, and become truly agile. In the Covid-19 era, A.I. has had a crucial role to play in improving business resiliency and continuity besides powering personalized customer service.

However, successful A.I. adoption is dependent on a few factors such as moving A.I. from prototype to scale and the availability of skilled talent. To realize A.I. at scale, it needs to be portable across clouds and not restricted to the tech platforms on which the prototype was built.

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Article: Facebook Launches AI That Understands Language Without Labels

Language, Open Data

Facebook Launches AI That Understands Language Without Labels

Decades ago, asking for basic directions or information would have been an arduous task. The advent of solutions such as Google Translate alleviated that problem to an extent. But, is this enough? For example, India alone is home to 23 official languages and thousands of unofficial ones and Google Translate supports just 11 of India’s languages.

Other speech recognition technologies might allow even fewer languages. Also, languages such as Basque and Swahili are far likelier to have more limited AI speech recognition capabilities than Hindi, English and Mandarin. Hence, the paths opened up by speech recognition technology are only available to a small fraction of the countless languages spoken all over the world. This is because most AI for speech recognition belongs to a category called supervised learning.

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Article: Indian tech cos join hands to make open source based oxygen concentrators; to be priced at around Rs 40k

Design, Open Health, Open Space

Indian tech cos join hands to make open source based oxygen concentrators; to be priced at around Rs 40k

A group of small and medium Indian technology companies and a defence PSU have joined hands to manufacture oxygen concentrators based on an open source design project Marut, initiated by robotic and automation startup Technido to meet the immediate need of patients and reduce dependency on imports.

According to the companies involved in the project, the oxygen concentrator (OC) with 10 litres per minute flow with purity of above 93 percent and capability to operate round-the-clock can be retailed at about half the price of imported units in the range of Rs 65,000-70,000 per piece.

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Article: How IoT and Traffic Reduction Aid Smart Cities in Fighting Climate Change?

Cities, Innovation, Open Space

How IoT and Traffic Reduction Aid Smart Cities in Fighting Climate Change?

Today, metropolitan areas are populated with 55% of the world’s population, and this figure is expected to rise to 68% with 6 billion urban dwellers by 2050. Cities are responsible for most of the world’s economic activity, energy consumption, and greenhouse gas emissions. The major contributors to carbon footprints are: food, consumption, transportation, and household energy.

Environmental degradation already is costing India approximately US$80 billion per year or 5.7% of GDP. India’s emerging cities are critical to the country’s economy, with up to 75% of the national GDP contributing by 2020.

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Article: The State Of Open-Source Ecosystem In India

API, Innovation, Open Governance, Open Space, Standards

The State Of Open-Source Ecosystem In India

India has a vibrant and growing open-source community. In March, Microsoft’s GitHub, which has 5.8 million Indian contributors, announced a grant of Rs.1 crore to support India-based open-source maintainers and contributors who build world-class software using open-source tools. As per GitHub COO Erica Brescia, India is the fastest-growing country in terms of new developers contributing to open-source projects.

Open-source software development has a lot of potential in India and could become the best in the world under the right circumstances. The government of India can play a major role here. Introducing policy-level changes to open-source development could encourage a mutually beneficial relationship for both the government and the developers and give ‘Digital India’ a much needed push.

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Article: Open Banking Bolsters Corporate FinServ, From India To Italy

Money, Open Governance

Open Banking Bolsters Corporate FinServ, From India To Italy

Open banking is a global phenomenon, and as more banks and FinTechs collaborate to unlock customer data for enriched banking experiences, partners are increasingly eyeing small businesses and corporates as key targets of innovation. This week’s bank-FinTech collaboration roundup explores the latest tie-ups from Italy to India, and beyond.

Israel’s Mizrahi-Tehafot Bank is working with Finastra to bolster its cross-border payment capabilities, the firms recently revealed. In a press release, the companies said Finastra will integrate its Fusion Payments To Go solution, designed for smaller financial institutions looking to strengthen their global payment capabilities.

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Article: The Future of Finance: How to Cope With Open Banking In Emerging Asia

Money, Open Governance

The Future of Finance: How to Cope With Open Banking In Emerging Asia

For more than a decade, Asia has been the largest regional banking market and as the continent’s massive middle class continues to grow, McKinsey expects personal financial assets in the region to reach US$69 trillion by 2025, or 75% of the global total.

However, in recent years, traditional banks have been disrupted or have faced stiff competition from fintech startups — be they pure-play digital banks or e-commerce platforms offering quasi-banking services. These players have catered to largely ignored, low-margin, high-risk customer bases, namely those in rural areas of emerging markets.

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Article: Data security: The paramount aspect of open banking

Access, API, Money, Open Decision-Support, Open Governance, Open Infrastructure

Data security: The paramount aspect of open banking

Open banking, a practice that provides third-party financial service providers an open access to consumer banking, transaction, and other financial data from banks and NBFCs through the use of application programming interfaces (APIs), has been rapidly catching up and is said to be the future of financial technology.

While this has several benefits, the innovation is also a high-risk practice as it involves sharing of and trading vast amounts of data. And while financial technology, over the past few years, seen tremendous growth in India, the Covid pandemic has facilitated a huge surge.

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Article: Github Announces Open Source Grants For Indian Developers; Will Offer A Total Sum Of Rs 1 Crore

Code, Free, Open Software, Open Source

Github Announces Open Source Grants For Indian Developers; Will Offer A Total Sum Of Rs 1 Crore

GitHub, has announced an Open Source Grants for Indian developers, where it will offer a total sum of Rs 1 crore to select developers. The program will support and fund open source maintainers and contributors in their work. Github will have a jury of three, including Amit Ranjan, who is currently Architect for the Digital Locker & OpenForge at the government of India, to select the best projects. Github, which is the world’s largest open source developer community platform, had set up an official entity in India last year.

“We had over 1.8 million developers who joined GitHub in India just over the past year, which brings the total to 5.8 million developers on the platform. When we extrapolate that forward, we’re hoping by our third anniversary of operating in dia, which is in February 2023, we will have more than 10 million developers on the platform from India,” Erica Brescia, Chief Operating Officer at GitHub told indianexpress.com.

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Article: What Trends Will Shape Fintech In India In 2021?

API, Money, Open Governance, Open Infrastructure

What Trends Will Shape Fintech In India In 2021?

“Financial Technology” or popularly known as  “FinTech” has come a long way from merely automating the delivery and use of financial services. Today Fintech has transformed and improved the entire financial sector by bringing out various innovative offerings across payments & transfers, financing & banking and capital markets & personal financial management.

India has also not been far behind,  today India is one of the largest FinTech Market with highest FinTech adoption rate of 87% in the globe. Especially after post-Covid, India, along with some of its global peers, has seen tremendous growth in FinTech.

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