Buch’s comments come just days after SEBI introduced a proposal to limit interactions between regulated entities and unregistered finfluencers Financial influencers or ‘finfluencers’ have come on SEBI’s radar amid growing cases of incorrect advice, and in many cases, outright fraud The registered entities are expected to not have any direct or indirect association, whether monetary or non-monetary, with finfluencers SEBI chief Madhabi Puri Buch has urged finfluencers looking to deal with securities or partner with regulated entities must register with the Securities and Exchange Board of India (SEBI). “We are very clear. If you wish to stay outside the purview of SEBI, we don’t have any problem because we respect your freedom of speech. But if you wish to deal with securities, or wish to partner with regulated entities, then you need to come and register with us,” Buch said at the Global Fintech Festival. Buch’s comments come just days after SEBI floated a consultation paper on August 25, which introduced a proposal to limit interactions between regulated entities and unregistered finfluencers. The market regulator has invited public comments on the proposals which can be submitted by September 15. Buch emphasised that while SEBI respects freedom of speech, registration is necessary for those wanting to deal with securities or partner with regulated firms. “If your actions cross into enticement, entrapment, or fraud, that’s unacceptable,” she added. Financial influencers or ‘finfluencers’ have come on SEBI’s radar amid growing cases of misinformation, and in many cases, outright fraud. The registered entities are expected to not have any direct or indirect association, whether monetary or non-monetary, with finfluencers, while such influencers are required to register with the regulator. According to the market regulator, ‘finfluencers’ are persons who provide information and/or advice on various financial topics such as investing in securities, personal finance, banking products, insurance, and real estate investment, among other channels, through social or digital media platforms and can influence the financial decisions of their followers. Buch further said at the fintech event that the markets regulator would like to see fintechs further democratising the market. “If what you do will democratise the market further, then we have all the time in the world for you, because that is our objective. We would like to see fintechs take the markets to more and more people across the country and do it at a low cost, which makes it inclusive,” added Buch.
Xbox: The ‘big’ Xbox September update is coming soon: What’s in it for gamers
Xbox has announced that its September update is coming soon and will bring a host of features for gamers. This update will allow gamers to stream their Xbox gameplay on Discord, bring variable refresh rate for Xbox Series X|S consoles, give them new places to view and redeem Rewards and provide new wish list notifications to track games. Additionally, the platform is rolling out Xbox voice reporting, which allows gamers to report inappropriate in-game voice chat. Plus, there are “some great updates” on PC.Streaming games from Xbox to DiscordStarting this week, gamers can stream gameplay directly from their Xbox to their Discord friends by clicking on “Stream your game.” For this, users have to link their Discord account and then they can join voice channels from the Xbox console by pressing the Xbox button on the controller to open the guide, scroll to ‘Parties & chats’, and select ‘Discord’.Variable Refresh Rate (VRR) for Xbox Series X|S consolesVariable Refresh Rate (VRR) will allow the users’ TV or monitor to adjust its refresh rate based on the frame rate of the content that is being watched, for a smooth gameplay.Starting this week, gamers can choose to enable/ disable VRR by selecting an option, go to General > TV & display options > Video, and then go to the dropdown menu for VRR. You can select if you want VRR to be “Always On,” “Gaming Only,” or “Off.”New places to view and redeem RewardsGamers will be able to find Rewards in the new Rewards tab. Gamers can navigate there by pressing the Xbox button to open the guide, choose Profile & system, select profile, and then choose My Rewards.Additionally, gamers can “find the Redeem Rewards catalogue directly from the Rewards tab in your profile. To check it out, open the guide and go to Profile & system > your profile > My Rewards.”Xbox voice reportingIn July, Xbox announced a platform-wide voice reporting feature to give players the option to capture and report inappropriate in-game voice chats. “Voice reporting equips Xbox Series X|S and Xbox One players with the ability to capture a 60-second video clip of an in-game voice incident that they believe violates Xbox Community Standards and submit it as evidence to the Xbox Safety Team for review,” the company said.This feature is purpose-built to support the wide variety of in-game interactions between players on games including Xbox 360 backward compatible titles. However, Voice reporting will be available starting this week to Xbox console players in select English-language markets (US, UK, Canada, Ireland, Australia, and New Zealand). Xbox app on PC experience updatesXbox also updated the Xbox app on PC with new features, faster performance and celebrations for upcoming games. There are also improvements to game details page load times for faster access to install buttons. There are new fonts, button styles and animations across the app. There are updates across the Library and Installation queue, including filters for Installed, Owned, and In Game Pass.
Marshall launches Motif II ANC with LE Audio support at Rs 19,999
Marshall has launched its latest TWS earbuds, Motif II ANC, in India. The earbuds offer features such as 30 hours of battery life, Active Noise Cancellation, Transparency mode, LE Audio support, and more. Priced at Rs 19,999, the earbuds are available for purchase on Marshall’s official website. The earbuds come with a charging case, USB-C charging cable, user manual, and safety information. They are compatible with the Marshall Bluetooth App and offer wireless connectivity through Bluetooth 5.3 LE.
After BSE, Jio Financial Services To Be Excluded From NSE Indices
The decision was taken by the index maintenance sub committee (equity) of NSE Indices as the shares of Jio Financial did not hit the price band on two consecutive trading days The NSE said the exclusion shall not be deferred further even if Jio Financial hits the price band on September 6 Besides Nifty 50, the stock will be delisted from Nifty 100, Nifty 200, Nifty 500, Nifty Energy, Nifty India Manufacturing and 13 other indices Reliance Industries Ltd’s (RIL’s) demerged arm Jio Financial Services Limited (JFSL) will be excluded from the NSE indices, including the benchmark Nifty 50, from September 7. “In accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4, 2023 and September 5, 2023 at NSE, the index maintenance sub committee (equity) of NSE Indices has decided to exclude JIOFIN from various indices as listed hereunder effective from September 7, 2023,” said NSE in a statement. It added that the exclusion shall not be deferred further even if Jio Financial hits the price band on September 6. Besides Nifty 50, the stock will be removed from Nifty 100, Nifty 200, Nifty 500, Nifty Energy, Nifty India Manufacturing and 13 other indices. RIL spun off Jio Financial as a separate entity in July this year, after which the latter became a publicly listed entity in late August. The company had a lacklustre start on the bourses, hitting the lower circuit for five straight sessions before gaining at the fag end of August. However, the stock has pared losses since then. Shares of Jio Financial continued their rise on Tuesday as well, gaining 0.73% to end the session at INR 255.30 on the NSE. The stock touched an intraday high of INR 259.7. Meanwhile, as per Nuvama Alternative Research, Jio Financial’s delisting could reportedly see the sale of nearly 105 Mn shares worth $324 Mn by Nifty passive trackers. The research firm also said that NSE would emulate BSE’s 20% filter even as retail investors await NSE’s price band circular for the stock. The development comes days after the BSE removed Jio Financial from its indices. However, MSCI and FTSE indices continue to retain Jio Financial without any impact on inflow or outflow. Amid all this, Jio Financial appears all set to shake up the financial services industry. At the conglomerate’s 46th Annual General Meeting (AGM) last month, chairman Mukesh Ambani unveiled a blueprint of the company saying it will launch products in the payments and insurance segments, apart from its already announced foray into the asset management space. Jio Financial will also explore blockchain technology and the central bank digital currency (CBDC) to build new-age products. As per the company, Jio Financial became the world’s highest-capitalised financial services platform at the time of its inception before the delisting announcement. Be it testing a soundbox for payments or building products in the general insurance and health insurance spaces, Jio Financial has a plethora of offerings up its sleeves and this has sent alarm bells ringing across India’s burgeoning fintech ecosystem. The Reliance Group company will take on startups like Zerodha, Paytm Money, INDMoney and Groww, among others.
After failed acquisition, Intel signs foundry deal with Tower Semiconductors
Intel has announced a deal to provide foundry services and manufacturing capacity to Tower Semiconductor two weeks after cancelling its plan to acquire the company for $5.4 billion due to regulatory pushback.Under the new deal, Tower will invest up to $300 million to acquire and own equipment and other assets that will be installed in Intel’s manufacturing facility in New Mexico, US operated by Intel Foundry Services.Intel has agreed to manufacture Tower’s 65-nanometer power management BCD (bipolar-CMOS-DMOS) flows as part of the deal. Tower has its own manufacturing facilities located in Israel (150mm and 200mm), the U.S. (200mm), Japan (200mm and 300mm), and soon in Italy in partnership with STMicroelectronics.Intel says that this deal will increase Tower’s capacity by over 600,000 photo layers per month, supporting advanced analog processing for 300mm and meeting forecasted customer demand. “We launched Intel Foundry Services with a long-term view of delivering the world’s first open system foundry that brings together a secure, sustainable, and resilient supply chain with the best of Intel and our ecosystem. We’re thrilled that Tower sees the unique value we provide and chose us to open their 300mm U.S. capacity corridor,” Stuart Pann, Intel senior vice president and general manager of Intel Foundry Services, said.Russell Ellwanger, the CEO of Tower Semiconductors said, “We are excited to continue working with Intel. As we look to the future, our primary focus is to expand our customer partnerships through high-scale manufacturing of leading-edge technology solutions. This collaboration with Intel allows us to fulfil our customers’ demand roadmaps, with a particular focus on advanced power management and radio frequency silicon on insulator (RF SOI) solutions, with full process flow qualification planned in 2024. We see this as a first step towards multiple unique synergistic solutions with Intel.”Last month, Intel had to call off its plan to acquire Israel-based Tower Semiconductor for $5.4 billion due to delays in obtaining necessary regulatory approvals, particularly in China. As part of the agreement’s terms, Tower will receive a $353 million termination fee from Intel.
India In Talks With South American & African Nations To Introduce UPI
The RBI and NPCI are holding talks with their counterparts as well as high commissions and embassies of these nations Discussions are at various stages of negotiations and are part of the government’s bid to internationalise UPI, a source said This comes a week after NPCI International CEO Ritesh Shukla said that UPI will double the number of countries where it is operational in the next 12-18 months The Indian government is reportedly in talks with multiple South American and African countries to introduce the Unified Payments Interface (UPI) and RuPay cards in these countries. A senior government official told Livemint that officials of the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) are holding talks with their counterparts as well as high commissions and embassies of these nations. The person further added that the discussions are at various stages of negotiations and are part of the government’s bid to internationalise UPI. This comes close on the heels of NPCI International Payments Limited’s (NIPL) chief executive officer (CEO) Ritesh Shukla saying that UPI will double the number of countries where it is operational in the next 12-18 months. Recently, reports also said India is in deliberations with countries such as Namibia, Mozambique and Kenya to expand the scope of UPI. The move comes as UPI creates new benchmarks even as the government further pushes to scale the platform globally. Just days ago, UPI set a new record by processing more than 1,000 Cr monthly transactions in August 2023. Meanwhile, UPI continues to see global adoption. So far, the digital payments platform has already been deployed in countries such as France, Singapore, Nepal, UAE, Saudi Arabia, Bahrain, Singapore, Maldives, Bhutan, and Oman. In addition, India has also been in talks with New Zealand to deploy the digital payments system in the Pacific country to improve ease of business between two nations. On Monday, the RBI also allowed scheduled commercial banks to offer credit lines to their customers through UPI.
The Evolution of Digital Marketing in 2023: 11 Trends to Watch
In today’s fast-paced digital era, staying ahead of the curve in the realm of digital marketing is not just a choice, but an imperative. As technology continues to evolve, so do the strategies and tools marketers employ to engage their target audience and drive optimal results. Here’s a deep dive into the transformative trends that are reshaping the digital marketing landscape in 2023 – and, potentially, beyond: photo credit: Ivan Samkov / Pexels 1. The Rise of Short Form Video Content In an age where attention spans are becoming increasingly limited, short-form video content has emerged as a dominant force in the digital marketing landscape. Platforms like TikTok and Instagram Reels have ushered in a new era of brand-audience interaction. These platforms have revolutionized the way brands connect with their audiences, offering a unique opportunity for marketers to convey their message in a concise and engaging manner. By embracing these platforms, brands have found a way to tap into a younger demographic, delivering marketing content in a format that truly resonates with them. 2. AI’s Role in Video Creation The integration of Artificial Intelligence in marketing has reached new heights with the creation of hyper-realistic “talking heads” videos. This technology allows a brand’s spokesperson to deliver personalized messages on platforms like TikTok. Not only does this save significant time and resources, but it also enhances the user experience by adding a human touch to digital campaigns. 3. AI-Powered Content Creation The challenge of consistently producing high-quality content is one that every marketer faces. However, with the advent of AI-powered content creation tools, this challenge is becoming more manageable. These tools, with their increasing sophistication, enable marketers to generate articles, blog posts, and even social media captions with remarkable accuracy. While they can’t fully replace the creativity of a human mind, they serve as invaluable assistants in the realm of content production. 4. The Timelessness of Blogging While the world of digital marketing is in constant flux, some strategies remain timeless. One such strategy is the consistent publishing of high-quality blog content. Search engines have a penchant for fresh and relevant content, making consistent blogging an essential key to digital success. 5. The Power of Guest Posting Collaboration in the digital space, especially through guest posting on high-authority websites, offers brands a dual advantage. It not only amplifies brand visibility but also significantly boosts credibility within the industry. Crafting insightful and well-researched guest posts allows brands to position themselves as industry experts, attracting organic traffic and fostering trust among readers. 6. Long Form Content on YouTube YouTube, once primarily a platform for short entertainment clips, has evolved to become a hub for long-form content. This includes in-depth tutorials, behind-the-scenes glimpses, and thought-provoking discussions. By creating valuable and informative content on this platform, brands can cultivate a loyal subscriber base and firmly establish their authority within their niche. 7. Building Trust Through Email Marketing Email marketing, though an older digital strategy, remains a potent tool in the marketer’s arsenal. Its success, however, now hinges more on trust and relationship-building than ever before. Brands are moving away from bombarding subscribers with promotions, focusing instead on providing genuine value through informative newsletters, exclusive offers, and personalized recommendations. This approach fosters loyalty and encourages deeper engagement with the audience. 8. Voice Search Optimization As smart speakers and voice-activated assistants like Alexa, Siri, and Google Assistant become more prevalent in households, optimizing for voice search is crucial. Unlike traditional search queries, voice searches are more conversational and often posed as questions. Brands should focus on optimizing their content to answer these queries, ensuring they remain relevant in voice search results. 9. Augmented Reality (AR) Experiences Augmented Reality offers brands a unique way to engage with their audience. Whether it’s through AR try-ons for online shopping or interactive AR games that promote a product, integrating AR can provide an immersive experience for users. Brands that leverage AR can offer a more interactive and memorable experience, setting them apart from competitors. 10. Personalization and Dynamic Content Consumers today expect content tailored to their preferences and behaviors. By leveraging data analytics and AI, brands can deliver dynamic content that changes based on user behavior. This could be in the form of personalized product recommendations, content suggestions, or even tailored email campaigns. Personalization not only enhances the user experience but also increases conversion rates. 11. Sustainability and Social Responsibility Modern consumers are more conscious of the brands they support. They prefer brands that are socially responsible and committed to sustainability. Highlighting eco-friendly practices, supporting social causes, and ensuring ethical operations can enhance a brand’s image and resonate with a socially-conscious audience. Takeaway To thrive in the digital marketing realm in 2023 and beyond, brands must embrace change and innovation. By leveraging short-form video, integrating AI tools, collaborating with authoritative platforms, and consistently engaging their audience across channels, brands can position themselves at the vanguard of the digital marketing frontier. The ultimate key lies in adaptability, experimentation, and prioritizing the audience’s needs.
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What OpenAI Really Wants | WIRED
Sutskever became an AI superstar, coauthoring a breakthrough paper that showed how AI could learn to recognize images simply by being exposed to huge volumes of data. He ended up, happily, as a key scientist on the Google Brain team. In mid-2015 Altman cold-emailed Sutskever to invite him to dinner with Musk, Brockman, and others at the swank Rosewood Hotel on Palo Alto’s Sand Hill Road. Only later did Sutskever figure out that he was the guest of honor. “It was kind of a general conversation about AI and AGI in the future,” he says. More specifically, they discussed “whether Google and DeepMind were so far ahead that it would be impossible to catch up to them, or whether it was still possible to, as Elon put it, create a lab which would be a counterbalance.” While no one at the dinner explicitly tried to recruit Sutskever, the conversation hooked him. Sutskever wrote an email to Altman soon after, saying he was game to lead the project—but the message got stuck in his drafts folder. Altman circled back, and after months fending off Google’s counteroffers, Sutskever signed on. He would soon become the soul of the company and its driving force in research. Sutskever joined Altman and Musk in recruiting people to the project, culminating in a Napa Valley retreat where several prospective OpenAI researchers fueled each other’s excitement. Of course, some targets would resist the lure. John Carmack, the legendary gaming coder behind Doom, Quake, and countless other titles, declined an Altman pitch. OpenAI officially launched in December 2015. At the time, when I interviewed Musk and Altman, they presented the project to me as an effort to make AI safe and accessible by sharing it with the world. In other words, open source. OpenAI, they told me, was not going to apply for patents. Everyone could make use of their breakthroughs. Wouldn’t that be empowering some future Dr. Evil? I wondered. Musk said that was a good question. But Altman had an answer: Humans are generally good, and because OpenAI would provide powerful tools for that vast majority, the bad actors would be overwhelmed. He admitted that if Dr. Evil were to use the tools to build something that couldn’t be counteracted, “then we’re in a really bad place.” But both Musk and Altman believed that the safer course for AI would be in the hands of a research operation not polluted by the profit motive, a persistent temptation to ignore the needs of humans in the search for boffo quarterly results. Altman cautioned me not to expect results soon. “This is going to look like a research lab for a long time,” he said. There was another reason to tamp down expectations. Google and the others had been developing and applying AI for years. While OpenAI had a billion dollars committed (largely via Musk), an ace team of researchers and engineers, and a lofty mission, it had no clue about how to pursue its goals. Altman remembers a moment when the small team gathered in Brockman’s apartment—they didn’t have an office yet. “I was like, what should we do?” Altman remembers a moment when the small team gathered in Brockman’s apartment—they didn’t have an office yet. “I was like, what should we do?” I had breakfast in San Francisco with Brockman a little more than a year after OpenAI’s founding. For the CTO of a company with the word open in its name, he was pretty parsimonious with details. He did affirm that the nonprofit could afford to draw on its initial billion-dollar donation for a while. The salaries of the 25 people on its staff—who were being paid at far less than market value—ate up the bulk of OpenAI’s expenses. “The goal for us, the thing that we’re really pushing on,” he said, “is to have the systems that can do things that humans were just not capable of doing before.” But for the time being, what that looked like was a bunch of researchers publishing papers. After the interview, I walked him to the company’s newish office in the Mission District, but he allowed me to go no further than the vestibule. He did duck into a closet to get me a T-shirt. Had I gone in and asked around, I might have learned exactly how much OpenAI was floundering. Brockman now admits that “nothing was working.” Its researchers were tossing algorithmic spaghetti toward the ceiling to see what stuck. They delved into systems that solved video games and spent considerable effort on robotics. “We knew what we wanted to do,” says Altman. “We knew why we wanted to do it. But we had no idea how.”
Manastu Raises Funding To Reduce Debris Pollution In Space
Manastu Space has raised $3 Mn it its Pre-Series A round led by Capital 2B, BIG Capital, and E2MC The startup said it would use the funds for deployment of its green propulsion system & debris collision avoidance system, and expansion of in-space services Founded in 2017, the Mumbai-based spacetech startup specialises in creating propulsion systems for satellites Mumbai-based spacetech startup Manastu Space has raised $3 Mn in its Pre-Series A round led by Capital 2B, BIG Capital, and E2MC. The funding round also saw participation from Baring India through Sanchi Connect, Wealthy via Ventures, Roots Ventures, Riceberg Ventures, Atomberg founders, Spectrum Impact, the family office of promoters of Aarti Industries, and some angel investors. Manastu Space, founded in 2017 by Tushar Jadhav and Ashtesh Kumar, specialises in creating propulsion systems for satellites. The startup said it aims to utilise the fresh capital to accelerate the deployment of its innovative green propulsion system and debris collision avoidance system, and to expand its in-space services. The funds will also support final-stage testing of the new propulsion system in orbit. The new propulsion system is designed for agility, safety, efficiency, and affordability. It uses a unique fuel, engine, and catalyst that enables it to mitigate the growing threat of debris collisions and subsequent space pollution, the startup said. Commenting on the idea to develop a sustainable propulsion system, cofounder Kumar said, “We are developing an agile green propulsion system for satellites to manoeuvre them more easily in space and save them from debris collision. This is a must-have solution to assure current (and growing) needs of space sustainability.” Highlighting the mounting threat posed by space debris, Kumar said there are approximately 160 Mn pieces of debris travelling at high speeds in space. A single collision could result in even more debris, complicating the safe placement of satellites into their designated orbits. “We are also working on autonomous collision avoidance and satellite refuelling in space so that we can reuse the satellites. These capabilities will help ensure that space remains sustainable and accessible for future generations,” Kumar added. The investment comes at a time when the Indian space sector has taken a big leap following the successful landing of Chandrayaan-3 on the Moon and the launch of the country’s solar mission, Aditya-L1. The Indian government has also been promoting spacetech startups. Earlier this year, the GST Council decided to impose a 0% GST on spacetech startups. Multiple spacetech startups have raised funding in this year so far. Last week, SatSure secured $15 Mn in its Series A round to accelerate product innovation and expand its operations across the Americas and Asia-Pacific regions. In June, Digantara raised $10 Mn in its Series A1 funding round led by Peak XV Partners to develop its revolutionary Space-Mission Assurance Platform (Space-MAP), which intends to be a one-stop solution for all space operations. According to Inc42’s analysis, the Indian spacetech market opportunity is estimated to cross $77 Bn by 2030. There are over 150 spacetech startups in the country and these startups have together raised more than $218 Mn since 2014.