Archive: October 30, 2023

Thirty Percent Organizations in Asia Lack Policies for Generative AI, 65Percent Believe Adversaries Exploit AI Successfully, says ISACA Poll

Bangalore, India (30th October 2023)—A new poll of global digital trust professionals is revealing a high degree of uncertainty around generative artificial intelligence (AI), few company policies around its use, lack of training, and fears around its exploitation by bad actors, according to Generative AI 2023: An ISACA Pulse Poll.

Digital trust professionals from around the globe, including more than 660 based in Asia—who work in cybersecurity, IT audit, governance, privacy and risk—weighed in on generative AI—artificial intelligence that can generate text, images and other media—in a new pulse poll from ISACA that explores employee use, training, attention to ethical implementation, risk management, exploitation by adversaries, and impact on jobs.

Diving in, even without policies
The poll found that many employees at respondents’ organizations are using generative AI, even without policies in place for its use. Among respondents in Asia, only 32 percent of organizations say their companies expressly permit the use of generative AI, only 11 percent say a formal comprehensive policy is in place, and 30 percentage say no policy exists and there is no plan for one. Despite this, over 42 percent say employees are using it regardless—and the percentage is likely much higher given that an additional 30 percent aren’t sure.

These employees based in Asia are using generative AI in a number of ways, including to:

•  Create written content (67%)
•  Increase productivity (41%)
•  Customer Service (such as chat box) (30%)
•  Automate repetitive tasks (28%)
•  Improve decision making (23%)

Lack of familiarity and training

However, despite employees quickly moving forward with use of the technology, only five percent of respondents’ organizations are providing training to all staff on AI, and more than half (52 percent) say that no AI training at all is provided, even to teams directly impacted by AI. Only 23 percent of respondents indicated they have a high degree of familiarity with generative AI.

“Employees are not waiting for permission to explore and leverage generative AI to bring value to their work, and it is clear that their organizations need to catch up in providing policies, guidance and training to ensure the technology is used appropriately and ethically,” said Jason Lau, ISACA board director and CISO at Crypto.com. “With greater alignment between employers and their staff around generative AI, organizations will be able to drive increased understanding of the technology among their teams, gain further benefit from AI, and better protect themselves from related risk.”

Risk and exploitation concerns
The poll explored the ethical concerns and risks associated with AI as well, with 29 percent saying that not enough attention is being paid to ethical standards for AI implementation. Twenty-five percent of their organizations consider managing AI risk to be an immediate priority, 31 percent say it is a longer-term priority, and 29 percent say their organization does not have plans to consider AI risk at the moment, even though respondents note the following as top three risks of the technology:

1.  Misinformation/Disinformation (65%)
2.  Privacy violations (64%)
3.  Social engineering (48%)

Almost half (45 percent) of respondents indicated they are very or extremely worried about generative AI being exploited by bad actors. Sixty-five percent say that adversaries are using AI as successfully as or more successfully than digital trust professionals. “AI training and education is imperative for digital trust professionals, not only to be able to understand and successfully leverage the technology, but to also be fully aware of the risks involved,” says RV Raghu, ISACA India Ambassador and director, Versatilist Consulting India Pvt Ltd. “As quickly as AI has evolved, so have the ways that the technology can be misused, misinterpreted or abused, and professionals need to have the knowledge and skills to guide their organizations toward safe, ethical and responsible AI use.”

Impact on jobs
Examining how current roles are involved with AI, respondents in Asia believe that security (52 percent), IT operations (46 percent), risk team (44 percent) and compliance team (42 26 are responsible for the safe deployment of AI. When looking ahead, almost one in four (24 percent) Asia-based respondents say their organizations are opening job roles related to AI-related functions in the next 12 months. Fifty-seven percent believe a significant number of jobs will be eliminated due to AI, but digital trust professionals remain optimistic about their own jobs, with 71 percent saying it will have some positive impact for their roles. To realize the positive impact, 86 percent of Asia-based respondents think they will need additional training to retain their job or advance their career.

Optimism in the face of challenges
Despite the uncertainty and risk surrounding AI, 84 percent of respondents in Asia believe AI will have a positive or neutral impact on their industry, 84 percent believe it will have a positive or neutral impact on their organizations, and 83 percent believe it will have a positive or neutral impact on their careers. Eighty-four percent of Asia-based respondents also say AI is a tool that extends human productivity, and 76 percent believe it will have a positive or neutral impact on society as a whole.

Is Fire Evacuation Lift The Better Evacuation Solution For The Vertical Evacuation Of Building Occupants & Safety of Fire Fighters

Dr. Vikram Mehta, MD of SPARTAN Fire Evacuation Lift (fondly known as the Fire Evacuation Man of Maharashtra)

Fire safety is a critical aspect of building design and management, with a particular focus on ensuring the smooth and efficient evacuation of occupants during emergencies. During fire emergencies in high-rise buildings, it is crucial to have a well-planned evacuation solution in place to ensure the safety of all occupants. A Comprehensive Emergency Action Plan, state-of-the-art fire safety systems, a routine fire drill schedule, a centralized emergency communication system, and training sessions to educate all occupants on fire safety and evacuation procedures are all necessary steps to minimize the risks associated with fire emergencies. But, above all, an adequate evacuation solution and a plan is a key to rescuing occupants safely during fire emergencies.

Buying a house in the dream city of Mumbai is the dream of millions of people. A developing infrastructure, a secure work life, better education, and healthcare facilities are what make the city so amazing to live in. The Real Estate sector is growing, advancing, and channeling everything under one roof to attract homebuyers. However, the question is whether there is accountability for implementing the evacuation plan for occupants’ safety from fire incidents. In high-rise buildings, where vertical transportation is a necessity, the choice of fire evacuation methods plays a pivotal role. While fire towers have traditionally been relied upon for vertical safety, the introduction of fire evacuation lifts by the Maharashtra Energy Department has proven to be a revolutionary step for vertical safety.

When it comes to ensuring the safety and efficiency of fire evacuation procedures, choosing between a fire evacuation lift and a fire tower requires careful consideration. Here are some important factors to consider:

1. Space Utilization: Builders’ biggest challenge is limited square footage. There are space constraints, and it is crucial for them to utilize maximum space. By opting for a fire evacuation lift, the available space can be efficiently utilized for other essential purposes. The Fire Evacuation Lifts are installed in a mid-landing area, unlike the Fire Tower, which saves space and FSI costs for the builders.

2. Accessibility: Fire evacuation lifts provide a quick and convenient mode of transportation during emergencies. A fire evacuation lift enables swift and easy evacuation for people of all abilities, including those with mobility challenges. Its two-way communication system makes it easy for a person standing on any floor to communicate with the lift operator during fire accidents. However, in the Fire Tower, there is no call button, making communication and accessibility difficult for the occupants.

3. Safety Features: Fire evacuation lifts are equipped with advanced safety features specifically designed for emergencies. The landing and car door in a fire evacuation lift has a 2-hour fire-rated vision panel, which helps the fireman avoid fatigue. It has a trap door on the roof, smoke detectors, fire-resistant materials, and a fire suppression mechanism. These features limit the spread of smoke and fire into the lift shaft, providing a safer environment for occupants during evacuation. Fire towers, on the other hand, lack these protective measures and expose individuals to greater danger and potential harm.

4. Advanced Technologies: The fire evacuation lift has an IoT (Internet of Things)-based control panel that sends automatic notifications to the nearest fire department, society members, and residents in the event of a fire. It has features that allow the user and original equipment manufacturer (OEM) to access real-time data such as total operating hours, day-by-day operating hours, fault history, etc. Everyone, from the users to the fire department, is alarmed by the faster and simpler communication process. However, all these features are missing in a fire tower.

5. Evacuation Speed: In emergencies, time is of the utmost importance. Fire evacuation lifts offer a significantly faster means of escape compared to stairwells within fire towers. As per government norms, the Fire Evacuation Lift can evacuate around 90 to 100 people in 3o minutes.

6. Smooth and Timely Evacuation: Fire evacuation lifts significantly reduce evacuation times, allowing occupants to reach safety swiftly. In contrast, fire towers often become congested with panicked individuals, which can impede the evacuation process and potentially result in injury or loss of life. By efficiently transporting occupants vertically, fire evacuation lifts mitigate the risk of overcrowding and ensure a smooth and timely evacuation.

7. Reliable in Adverse Conditions: Fire evacuation lifts are designed to operate even in adverse conditions, including power outages or mechanical failures. They are equipped with 30-minute backup power systems and emergency communication devices, ensuring their functionality when it matters most. Fire towers, being primarily reliant on physical infrastructure and individuals’ capabilities, are more susceptible to failures and limitations during emergencies.

8. Cost-effectiveness: The long-term cost-effectiveness favors the former. Fire evacuation lifts can help minimize the risk of injuries during emergencies, reducing potential liabilities for building owners or managers. Moreover, installing the lift in the mid-landing area results in saving builders space of approx. 200 sq. ft per floor. It’s a revolutionary norm for builders as it is not only saving the space but also the builder’s cost for FSI.

In conclusion, the Maharashtra Energy Department enactment dated 20th July 2022 for the introduction of fire evacuation lifts has revolutionized vertical safety during fire emergencies. Their ability to facilitate swift, inclusive, and efficient evacuation, provide enhanced protection from smoke and flames, operate in adverse conditions, and strategically distribute points of egress make them a superior choice over traditional fire towers. The choice of a fire evacuation lift is a prudent decision for ensuring the well-being of occupants during fire emergencies.

NeoNiche ranks among Forbes India’s top 200 Extrepreneurs list at DGEMS 2023

New Delhi, October 30, 2023: NeoNiche Integrated Solutions Pvt. Ltd., a global full-service marketing agency based out of India and Singapore, has made it to the ranks of India’s top 200 companies with global business potential as per Forbes India. The announcement was made at Forbes India’s first Chapter of “D Globalist Entrepreneur Mobility Summit (DGEMS)” 2023 held at New Delhi’s Taj Palace on October 27, 2023.

The summit brought together entrepreneurs, investors, and government officials from around the world to discuss the latest trends and challenges in global business.

Coming on the heels of NeoNiche setting up its first offshore office in Singapore, Mr. Valay Lakdawala, Co-Founder and Director – Client Relations, NeoNiche, said, “Recognition by Forbes as one of the Select 200 underscores our strategic intent: to not merely build a company, but to craft a global legacy. Every step we take is with the ambition to bridge markets and shape the future on a global scale. Here’s to our world vision!”

Mr. Prateek Kumar, Founder and CEO said, “We are honoured to be selected as an Extrepreneur by Forbes India and D Globalist. This recognition is a validation of our hard work and progressive approach as we move toward a borderless approach of doing business both in India and abroad. We believe this will add further impetus to our promise to deliver the best-in-class solutions with great ease of doing business to our Indian and Global customers.”

Mr. Ashish Sedani, Director – Client Relations and Experiential Deliveries, NeoNiche said, “NeoNiche is a shining example of Indian entrepreneurial spirit. And this recognition by Forbes India adds an even greater momentum to our growth trajectory, which has now moved out of India’s borders.”

Building An Open World Through IndoFuturism, Absolut Creative Commune In Collaboration With Elsewhere In India

India, 30 October 2023: Carrying forward its long-standing legacy of associating with progressive artists like Subodh Gupta, Anish Kapoor, Bharti Kher, Osheen Siva, and Vikram Seth, Absolut Glassware announces an exciting new edition of Absolut Creative Commune. A band of visionaries taking a trip to the future through the artistic lens of Indio Futurism, Absolut Creative Commune is here to offer diverse IndoFuturist imaginations that challenge stereotypes, celebrate diversity and represent the idea of ‘better together’.

Absolut Creative Commune explores the dynamic worlds of electronic music and visual design in a groundbreaking collaboration with Elsewhere in India, an internationally touring, audiovisual electronica collective about a future world where global cultures are taking new shape. Together, the two powerful platforms have curated a line-up of 5 emerging and established artists – Sachin Bhatt, Deepti, Ishaan Osheen, Parda Fash, Aditi Ramesh – who question the status quo with their collaborative work. Furthering Absolut’s core philosophy of a progressive and colorless world, the artists will showcase fresh, experimental work around the theme of ‘Building an open world through Indo Futurism’.

Absolut Creative Commune will be taking over Mumbai’s Famous Studios on November 04 to create distinct day and night experiences. The day program is curated by Kyoorius, an iconic design platform that seeks to empower and sustain the creative community in India. The line-up includes a fun, educative, multimedia conference on IndoFuturism; masterclasses by industry stalwarts such as Ayaz Basrai (co-founder of The Busride Design Studio); short presentations that will throw light on different practices and approaches to IndoFuturism, among other things. The night program kicks off with an exhibition of Creative Commune commissioned works, followed by an electrifying audio-visual performance demonstrating an iteration of IndoFuturism on the dance floor. Artists Arjun Vagale, Elsewhere in India ft. Murthovic & Thiruda, Blurry Slur & Dreamstates, Anushka, and Kibo will make the night memorable.

Pulkith Modi, Head of Marketing – International Brands, Pernod Ricard India, said, “Absolut Creative Commune celebrates the freedom and power of artistic expression. This year, in an exciting collaboration with Elsewhere in India, the platform is set to explore and showcase IndoFuturism as a creative zeitgeist! A new wave of Indian Futurism is rapidly taking over next-gen media and art platforms. Absolut Creative Commune is the perfect platform to experience this movement. It is the culmination of state-of-the-art technology, visual design, performance art and IndoFuturist visions that foster a colourless, open, inclusive and hopeful world that respects people and the planet.”

Avinash Kumar, Elsewhere in India, said, “Elsewhere in India is a pioneer in the context of IndoFuturism and purposing new technologies such as Generative AI and gaming for cultural good. Absolut’s imperative in building an open and diverse world deeply resonates with our work towards imagining a hopeful future for India. Curating and mentoring an inspiring collective of Indian talent for Absolut Creative Commune across the fields of animation, storytelling, electronic music and creative tech, to name a few, has been a privilege. The platform sets an example of how brands are willing to support indie artists. Emerging art forms need incubation platforms to prosper and catalysis platforms that can forge new connections, help fund exciting new work, harbour new connections and engage new audiences. Absolut Creative Commune pushes these outcomes as it facilitates provocative creative work; it challenges the status quo while staying relevant to the goal of creating a distinct identity for IndoFuturism.”

The collaboration with Elsewhere in India is significant for Absolut Creative Commune as it brings alive ‘The Absolut World’ through free-flowing artistic expression, immersive experiences, and high-energy electronic music. It further strengthens the brand’s core values of freedom, self-expression, and inclusivity for the future of the youth of India.

Covestro achieves EBITDA guidance for third quarter

Covestro’s third quarter of 2023 was characterized by a persistently difficult market environment with continued low demand in all regions. Covestro’s Group sales declined by 22.7 percent to EUR 3.6 billion (previous year: EUR 4.6 billion), mainly as a result of lower selling prices and a slight reduction in volumes sold. The Group’s EBITDA fell by 8.3 percent to EUR 277 million (previous year: EUR 302 million). In addition to exchange rate movements, this was attributable, inter alia, to a decrease in volumes sold due to lower demand. In contrast, higher margins had a beneficial effect on EBITDA, since the decline in the selling price level was more than offsetby lower raw material and energy prices compared to the extremely high raw material prices in the prior-year quarter. Lower selling and administrative expenses and a decrease in fixed cost of goods thanks to the Group’s strong focus on efficiency also had a positive effect. Net income in the third quarter was EUR –31 million (previous year: EUR 12 million), and the free operating cash flow (FOCF) rose to EUR 308 million (previous year: EUR 33 million).

“Again, there was no significant revival of the economic activity in the third quarter, with global demand remaining at a very weak level,” says Dr. Markus Steilemann, CEO of Covestro. “Covestro is thus all the more committed to creating the right framework: we are operating efficiently and with a high degree of cost consciousness. We are also investing in the global expansion of our capacities using innovative technologies. We are thus continuing to consistently orient ourselves towards the circular economy and are expanding the foundations for sustainable growth.”

Guidance for 2023 narrowed at the lower end of the ranges

Covestro has narrowed its guidance published in April this year at the lower end of the given corridors, in line with the statements made on the half-year report in August 2023. The Group thus anticipates EBITDA of around EUR 1.1 billion and a free operating cash flow of between EUR 0 million and EUR 200 million. Covestro anticipates a ROCE above WACC of around –6.0 percentage points. Covestro’s GHG emissions measured as CO2 equivalents are projected to still be between 4.2 million metric tons and 4.8 million metric tons.

“Covestro is operating in a challenging environment: Economic activity is weak, demand is low and the outlook for our core industries has deteriorated further, with the exception of the automotive industry,” says Christian Baier, CFO of Covestro. “Accordingly, we have narrowed our guidance at the lower end of the given ranges. At the same time, the Group stands on a very stable foundation with a global presence and strong balance sheet. I am therefore very much looking forward to continuing to drive Covestro’s transformation forward.”

Christian Baier has been in office as Covestro’s new Chief Financial Officer since the beginning of October 2023. He succeeds Dr. Thomas Toepfer, who left the company as of August 31, 2023. Baier has since been responsible for the areas of Accounting, Controlling, Finance & Insurance, Information Technology & Digitalization, Investor Relations, Law, Intellectual Property & Compliance, Portfolio Development and Taxes. He is also responsible for country-specific topics in the United States and China.

In addition, the Board of Management decided to terminate the remaining ongoing share buyback program ahead of schedule on October 26, 2023. This decision has been taken due to the current overall situation and the limited time remaining until the end of the program on February 28, 2024 and the authorization of the Annual General Meeting expiring on April 11, 2024. As such, EUR 199 million of the intended EUR 500 million share buyback were executed. Covestro bought back 4.7 million shares with an average price of EUR 42.50 per share. Covestro plans to seek for a renewal of the authorization during the Annual General Meeting in 2024 to continue share buybacks in the future.

Investment in a sustainable and circular future

To achieve its vision of becoming fully circular, Covestro is committed to delivering products and solutions that contribute to a more climate-neutral and circular world. One example of that is the new Elastomers plant, which the Group put into operation at its site in Shanghai, China, this August. The new plant is part of a series of investments in high-performance elastomer business made by the company worldwide in recent years. The polyurethane elastomer systems produced there are used, among other things, for applications in the field of renewable energies, such as in manufacturing photovoltaic panels. In addition, they themselves consist partly of alternative raw materials, meaning that they contribute to a more sustainable future in two ways.

The use of alternative raw materials is one of the cornerstones of the Group’s efforts to become fully circular. To be able to further explore and expand this field, Covestro is also committed to dovetailing its financing and sustainability strategies to a greater extent. As part of that, the Group issued a green bond for the first time in November 2022. A move that has already produced a positive impact: after just the first year of the total six-year term, the funds raised were already used in full in sustainable expenditures and projects. Around 34 percent of the issuing proceeds were used, for example, to expand alternative raw materials, resulting in a reduction of 250 kt of CO2 equivalents.

A further focus on the path toward a circular economy is the recycling of used plastics. Covestro has also made further progress in this area, announcing this August that it had achieved a major milestone by developing an innovative process for the chemical recycling of polycarbonates. The Group is now commencing technical implementation of chemical recycling on a pilot scale at its site in Leverkusen, Germany, and will invest millions of euros into it over the next few years.

Economic weakness weighs on both segments; lower fixed costs have positive impact

The selling price level and volumes sold at both of the Group’s segments declined in the third quarter, particularly in the EMLA region. Nevertheless, the Group’s strong focus on efficiency as part of implementation of its Sustainable Future strategy had an impact. In the third quarter, fixed costs were again reduced by a high double-digit million euro amount compared to the previous year. For the year as a whole, Covestro expects lower fixed costs in the mid three-digit million euro range compared to the prior-year period.

Sales in the Performance Materials segment were down 26.7% to EUR 1.7 billion (previous year: EUR 2.3 billion) in the third quarter of 2023, in particular due to considerably lower average selling prices. The segment’s EBITDA increased by 60.4 percent year over year to EUR 85 million (previous year: EUR 53 million), mainly because of higher margins and lower fixed costs. The free operating cash flow rose to EUR 317 million (previous year: EUR 93 million).

The Solutions & Specialties segment registered a 17.6 percent decrease in sales to EUR 1.8 billion in the third quarter of 2023 (previous year: EUR 2.2 billion). That was mainly attributable to a decline in average selling prices due to weak demand worldwide, exchange rate movements and a fall in volumes sold. The segment’s EBITDA fell by 12.1 percent year over year to EUR 246 million (previous year: EUR 280 million), but has shown a steady, sequential increase since the fourth quarter of 2022. The segment’s free operating cash flow improved to EUR 185 million (previous year: EUR 65 million).

Results in the first nine months of 2023 below previous year; significant increase in FOCF

The Group’s sales in the first nine months of the year fell by 21.2 percent to EUR 11 billion (previous year: EUR 14 billion). Weak economic activity and low global demand throughout the year resulted in a lower average selling price level and lower volumes sold overall. Covestro’s EBITDA in the first nine months of 2023 declined by 42.7 percent to EUR 948 million (previous year: EUR 1.7 billion), while net income fell to EUR –11 million. However, the FOCF rose to EUR 159 million (previous year: EUR –412 million), in particular due to higher cash flows from operating activities. Less cash tied up in working capital, mainly due to the development of inventories, and lower income tax payments more than compensated for the drop in EBITDA.

Online sales of luggage products increased more than 100percent: Unicommerce

30th October 2023 | Bangalore: The online sales of luggage and bags has surged more than 100% during the first half of 2023, as compared to sales volumes in the equivalent period last year. While the volumes grew more than 100%, GMV grew over 150% during the same period. The insights were shared by Unicommerce, one of India’s leading e-commerce enablement SaaS platforms, on the basis of transactions conducted on the platform.

Most of India’s prominent luggage brands, including VIP, Safari Bags and Mokobara are served by Unicommerce. According to Unicommerce, a combination of factors, including a resurgence in leisure and business travel, heightened consumer trust in online channels, and the emergence of several D2C brands is contributing to the rapid growth in the luggage category.

Amongst the items in greater demand are duffles and rucksacks, catering to short-trip enthusiasts and gym-goers. Additionally, medium and cabin-sized luggage remains highly popular among consumers. Furthermore, shoppers are showing keen interest in baggage accessories such as luggage tags, neck pillows, luggage weight scales, and toiletry bags.

One of India’s largest luggage bags & backpacks company Safari, has been associated with Unicommerce since 2022. Safari serves customers across the entire country through a range of popular marketplaces as well as its own brand site.

Speaking about enhancing their online business Mr. Deepak Bartwal, VP Supply Chain Management from Safari Industries Limited said. “Safari has been serving its customers since 1974. With ecommerce taking an important role in today’s world, Safari has been driving its online vertical to reach a wider audience. We are glad to partner with Unicommerce as our technology platform to automate our ecommerce operations as we continue to offer an exceptional shopping experience to our customers.”

New-age D2C travel & lifestyle brand Mokobara has quickly emerged as a leading name in the luggage and travel accessories industry with its extensive product line and has been using Unicommerce’s platform since 2022. The brand is processing an average of over 15,000 order items in a month through its website and across marketplaces.

Talking about the fast-growth of the brand, Rumman Rizvi, Head of Brand and Customer Experience at Mokobara said, “Our footprint now extends throughout India, driven by a growing demand for premium travel accessories that deliver on both great design and functionality. In our unwavering focus on delivering an effortless shopping journey for our community, Unicommerce has effectively addressed our supply chain challenges”.

Kapil Makhija, CEO of Unicommerce, expressed the platform’s involvement in the segment, stating, “We have continually enhanced our products to meet the specific requirements of this sector. For instance, given that luggage products often require larger shipping labels and are frequently sold in combos, we have ensured that our platform automates shipping label sizing for every order and facilitates easy bundling of orders”

The rising popularity of luggage and related items on online platforms and brand websites is an indicator of both buyers and sellers reposing their faith in the online discovery and purchase experience. Unicommcerce, with an integrated range of SaaS solutions helps brands and platforms streamline their operations, handle inventory efficiently and offer a superior customer experience.

MediaTek Showcases 5G Satellite Connectivity, Smart Vehicle Technology and Innovative Connectivity Solutions at IMC 2023

New Delhi, October 30, 2023: MediaTek, a global fabless semiconductor company powering nearly 2 billion connected devices a year, showcased its latest technology portfolio from its Dimensity, Filogic, Genio, Kompanio, Pentonic, and Dimensity Auto portfolios at India Mobile Congress 2023. MediaTek demonstrated its Dimensity Auto platform that drives the future of intelligent, always-connected vehicles through delivering impressive computing power and wide-ranging technologies. The showcase included MediaTek powered devices across diverse verticals from some of the world’s biggest brands.

“As a leading semiconductor company, we are deeply committed to the idea that technology can be a transformative force for India. Our focus is to empower the Indian ecosystem with new-age digital solutions and to play a pivotal role in shaping the country’s future as a technology leader, aligned with IMC 2023 theme of ‘Global Digital Innovation’. We have showcased our innovative solutions across automotive technology, IoT, 5G satellite technology, connectivity and smart device vertical. We firmly believe that MediaTek’s collaboration with OEMs and continuous investment will lead to technological advancements and foster economic growth, thereby supporting the Design in India’ initiative,” said Anku Jain, Managing Director, MediaTek India.

“At IMC 2023, we showcased our latest smart vehicle technology that powers high-performance, AI-Driven, and efficient automotive solutions along with innovative smart home solutions that are driving the future of intelligent living with fast and reliable connectivity. Through strategic collaborations with Indian and Global Brands, MediaTek is enabling brilliant technology for everyday life. MediaTek showcased a diverse portfolio powered by advanced chipset series such as MediaTek Dimensity, Pentonic, Kompanio, Genio, and Filogic, offering a glimpse into the ever-evolving landscape of technological innovation and connected devices,” said Anuj Siddharth, Deputy Director – Marketing & Communication, MediaTek India.

Devices & Technology showcased at IMC 2023 includes-

Automotive Technology

MediaTek Dimensity Auto drives the future of intelligent, always-connected vehicles enabling smart vehicle technology innovation through delivering impressive computing power and comprehensive technologies. MediaTek Dimensity Auto includes Dimensity Auto Cockpit, Dimensity Auto Connect, Dimensity Auto Drive, and Dimensity Auto Components.

Satellite Connectivity

MediaTek’s 3GPP standards-based 5G Non-Terrestrial Network (NTN) solution brings two-way satellite communications to smartphones and other devices. Some of the devices powered by MediaTek’s NTN solutions includes Motorola defy 2 smartphone and Motorola defy satellite link.

Smartphones and Tablets

The MediaTek Dimensity flagship 5G family includes Dimensity 9200+, 9200, 9000+ and 9000 system-on-chips (SoCs). MediaTek showcased smartphones including the newly launched OPPO Find N3 Flip, Vivo X90 powered by MediaTek Dimensity 9200, OnePlus Nord 3 5G powered by MediaTek Dimensity 9000, Tecno Phantom V Fold powered by MediaTek Dimensity 9000+, Tecno Phantom V Flip powered by MediaTek Dimensity 8050 and Motorola Edge 40 Neo powered by MediaTek Dimensity 7030, among others.

Smart Devices

Devices across digital TVs, smart speakers, Wi-Fi routers, arm-based Chromebooks and other smart home products including Primebook, Jiobook, and HP Chromebook, portable projectors from MyBox and Wanbo, Lenovo smart clock, Amazon Echo, Amazon Fire TV Stick, Airoha’s Bluetooth headsets and FireBoltt Artilery Fitness Smartwatch, PayTm Soundbox, iMin PoS Terminals and PeopleTech IoT bike powered by MediaTek chipset.

Wi-Fi 6/7 Enabled Solutions

On showcase were connectivity solutions including routers, access points, mesh systems powered by MediaTek Filogic and 5G broadband section powered by MediaTek T750 5G platform which is designed for CPE devices that can provide fixed wireless access in gateways, routers, and mobile hotspot devices.

ICICI Bank opens a branch in Nandyal

Kurnool: ICICI Bank has set up a branch at Tekke in Nandyal city. This is the second branch of the Bank in the city. The branch has an ATM-cum-Cash Recycler Machine (CRM) to offer cash deposit and withdrawal services to the customers round the clock.
Sri T. Rahul Kumar Reddy, I.A.S., Joint Collector and Additional District Magistrate, Nandyal District, inaugurated the branch.

The branch offers a comprehensive range of accounts, including savings and current accounts, trade and forex services, fixed and recurring deposits, loans- business loan, home loan, personal loan, auto loan, and gold loan – along with remittance and card services. The branch also offers banking services to NRI customers. It further provides locker facility at its premises. It operates from 9:30 A.M. to 3:00 P.M on Monday to Friday, and on the first, third, and fifth Saturdays of the month.
The Bank has a network of about 235 branches and 480 ATMs in Andhra Pradesh.
ICICI Bank services its large customer base through a multi-channel delivery network of branches, ATMs, call centres, internet banking, and mobile banking.

ASUS Recognized as an EPEAT Climate+ Champion

India, October 30, 2023 — ASUS today announced that it has been recognized as an EPEAT Climate+ Champion, highlighting the company’s commitment to climate change mitigation. The new Climate+ designation is given to EPEAT registered products that are produced to meet the highest industry standards around decarbonization, environmental responsibility, and energy efficiency.

Organized by the Global Electronics Council (GEC), EPEAT is a premier sustainability ecolabel for electronic products. The EPEAT Climate+ designation is the latest recognition of ASUS’ efforts in environmental sustainability and climate action.

EPEAT uses stringent criteria to identify whether a product deserves their ecolabel. For example, EPEAT’s validation not only ascertains adherence to extensive product category-specific benchmarks, such as materials selection, design for circularity, and end-of-life management, but also the fulfillment of additional key criteria specific to the Climate+ designation. These include third-party verifiable product carbon footprint reports, SBTi (Science Based Targets initiative) validated emission reduction targets, energy efficient manufacturing, and using electricity from renewable energy sources.

Near-term science-based emission reduction targets validated by SBTi
EPEAT’s approach and criteria align perfectly with ASUS’ commitment to climate action. The company’s near-term science-based emissions reduction targets have recently been approved by the SBTi, an initiative launched by the United Nations Global Compact (UNGC) and the Carbon Disclosure Project (CDP). ASUS has also committed to setting long-term emission reduction targets with the SBTi in line with reaching net-zero by 2050.

Verifiable low carbon products

ASUS consistently strives to offer low-carbon products, focusing on areas such as elevating energy efficiency, utilizing renewable energy sources, and providing verified product carbon footprint reports. EPEAT Climate+ designated ASUS products will come with third-party verified product carbon footprint reports. Additionally, ASUS’ greenhouse gas (GHG) inventory reporting has been validated by independent experts, ensuring the highest level of accuracy and transparency in its environmental initiatives.

Increasing renewable energy usage

ASUS exceeds the EPEAT threshold of 12.5% renewable energy use in operating centers, further highlighting the company’s steadfast commitment to sustainable practices. This also signifies the major strides by ASUS towards attaining its goal of using 100% renewable energy in its Taiwan-based operations centers by 2030 and global operations centers by 2035.

Leading the supply chain in carbon reduction

Recognizing the significant role of the supply chain in greenhouse gas emissions, ASUS has initiated carbon reduction engagement and communication programs within its supply chain to drive climate action. In 2022, key ASUS suppliers reduced their GHG emission intensity by 24%, benchmarked against the baseline year of 2020. Moreover, these suppliers are poised to achieve a 30% reduction in emission intensity by 2025. These ongoing efforts demonstrate the unwavering commitment of ASUS to environmental stewardship, reducing its carbon footprint, and paving the way to a more incredible, sustainable future.