Tag: 2024

Business

AI Apex Asia 2024 Concludes with Resounding Success, Highlighting Asia’s AI Leadership

Jun 8, 2024 by Sujata Muguda 0 Comments #2024, #AI Apex Asia 2024, #Asia's AI Leadership, #held on June 5th, #Mr. Lee Yi Shyan, #Prof Inderjit Singh, #Singapore

SINGAPORE, June 8, 2024– The inaugural AI Apex Asia 2024, held on June 5th, 2024, at Lazada One, Singapore, concluded with resounding success. Organised by AI Apex Asia, a newly established non-profit organisation dedicated to driving artificial intelligence (AI) advancements across the continent, the event served as a pivotal platform for fostering collaboration and showcasing Asia’s burgeoning dominance in the global AI landscape.

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Themed “The Asia Advantage,” this exclusive event brought together over a hundred esteemed guests, including leading researchers, developers, policymakers, industry leaders, and investors from across Asia. The conference provided a valuable forum for these key stakeholders to exchange ideas, explore critical challenges and opportunities in AI, and collectively chart a path for Asia’s continued leadership in this transformative technology.

AI Apex Asia 2024 was strategically designed to foster collaboration and drive thought leadership within the AI community. The program kicked off with insightful keynotes from renowned figures such as Lee Yi Shyan, former Senior Minister of State; Prof Inderjit Singh, a former member of the Singapore Parliament; Emad Mostaque, founder of Stability AI; and Laurence Liew, Director at AI Singapore.

The conference continued with engaging panel discussions, live demonstrations showcasing the latest AI technologies and applications, and productive networking opportunities. Attendees left feeling empowered and inspired, equipped with new insights and connections to drive the region’s ambitions in AI forward.

Agenda Highlights

Inspiring Opening Remarks: Mr. Lee Yi Shyan, Chairman of Business China and OUE REIT Management Pte Ltd, and former Senior Minister of State, delivered an opening address to a room of AI researchers, developers, and entrepreneurs. He underscored Singapore’s commitment to cementing its status as a dynamic regional epicenter for AI talent and innovation, aligned with the goals of its National AI Strategy 2.0. Mr. Lee spotlighted Singapore’s competitive advantages, such as its advanced digital infrastructure, business-accommodating policies, and a well-educated workforce, positioning it as the perfect hub for cutting-edge AI enterprises. He extended a warm invitation to the global AI community to collaborate with Singapore and leverage its environment to propel their AI endeavours to new heights.

  • Insightful Keynotes: Renowned figures delivered inspiring keynote speeches on the future of AI and the landscape of the AI industry in Singapore.
  • Prof Singh’s address, titled “Asia’s Advantage: Leading the Charge in the Age of AI,” delved into the region’s exceptional capabilities in manufacturing and robotics, its dynamic developer ecosystem, and its technologically adept population. He also discussed how the integration of AI and blockchain technologies fortifies Asia’s leadership in global AI development.
  • Emad Mostaque, the founder of Stability AI, delivered a keynote on “Open-source AI by the People, for the People,” emphasising the transformative power of accessible AI technologies.
  • Laurence Liew, Director of AI Singapore, presented a policy talk on “Leveraging Singapore’s AI Capabilities for Global Influence” which highlighted the importance of a forward-thinking approach to AI adoption.
  • Engaging Panel Discussions: Experts from diverse backgrounds tackled critical themes that are shaping AI’s future.
    A panel titled “Where Mind Meets Machine – Unlocking the Future of Robotics and Embodied AI” discussed the latest advancements in developing intelligent robots capable of interacting with the physical world. The panellists explored how to leverage the remarkable capabilities of generative AI to create general-purpose robots and apply scaling laws to drive future-embodied AI innovation. Panellists included:
  • Junbo Chen, CEO of Udeer AI
  • Xinhua Liu, Venture Partner at Gaorong Ventures
  • Lin Shao, Assistant Professor at NUS, who is also an expert in robotics and embodied AI research.
  • Another panel, “The Convergence of AI and Web3,” explored blockchain technology and Web3’s potential to revolutionise AI solution development and deployment, with speakers including:
  • Michael Heinrich, CEO of 0G Labs
  • Brian Liang, COO of aelf
  • Prof. Liu Yang, CEO of AgentLayer and Executive Director of CyberSG
  • Dr. George, Co-founder & CTO of Mind Network
  • Bell Beh, Co-Founder & CEO of BuzzAR.A third panel titled “Asia AI’s Playbook: Path to Growth, Revenue, Defensibility and Capital Markets” featured insightful discussions from industry leaders on strategies for AI startups and companies to achieve sustainable growth, generate revenue, build defensible moats, and access capital markets in Asia. The panellists included:
  • Joe Yan, Operating Partner at Granite Asia
  • Danny Goh, co-founder of AI Native Foundation
  • Hao Wang, Managing Director of HongShan Capital
  • James Liu, Director of New Business and Innovation Alliance at Alibaba Cloud International.

Curated Networking Opportunities: The conference facilitated valuable connections and collaborations among the attendees. Dedicated networking sessions and social events provided a platform for AI professionals, academics, industry leaders, and investors to connect, share ideas, and explore potential partnerships.
Keynote Highlights

Prof Inderjit Singh, President of WBAF Global Startup Committee and a former member of the Singapore Parliament: “With a 50% share in global manufacturing and home to 25% of the world’s blockchain startups, along with its robust developer ecosystem geared for innovation, Asia is primed to leverage its manufacturing and software prowess to spearhead the AI revolution. Recent data from IBM’s Global AI Adoption Index 2024 reflects this trajectory, indicating Asian countries and businesses outpacing their Western counterparts in embracing and accelerating AI adoption. If we collectively unlock the potential of these current and potential strengths, we can build a shared vision of a future where Asia leads the way in shaping the course of technological progress, fostering economic growth, and improving the lives of people across our region and beyond.”

Emad Mostaque, Founder of Stability AI: “AI needs to be fundamentally open and transparent, from the code to the data, ensuring it serves the entire society and not just a select few. By integrating these intelligent systems into our government, healthcare, and educational sectors, we create a foundation for a more equitable society. Moreover, the future of AI governance must embrace democratic processes to ensure these technologies enhance, not hinder, our communal and personal sovereignties.”

Laurence Liew, Director of Al Singapore: “A proactive approach to AI development is crucial for empowering startups and SMBs in Singapore. As government programmes and institutions nurture the growth of AI companies, it’s essential that they also enable these companies to retain their intellectual rights. This approach ensures that startups and SMBs can harness AI effectively and collaboratively. By the end of next year, we anticipate that most SMBs in Singapore will be utilising AI to significantly enhance their productivity and capabilities in everyday business operations.”

A Pivotal Moment for AI in Asia

AI Apex Asia 2024 emerged as a landmark gathering, underscoring Asia’s strategic importance in the global AI dialogue and setting a precedent for future regional collaborations and conferences. Looking ahead, AI Apex Asia is committed to maintaining this momentum, staying at the forefront of facilitating crucial conversations and innovations, and cementing Asia’s position as a leader in AI technology. This inaugural event was just the beginning of what promises to be an exciting journey towards a more interconnected and technologically advanced future—a future where members can shape the development of AI not only in Asia but worldwide.

Business

United Way Bengaluru Launches ‘Mangroves Matter’: A Campaign to Restore Mangrove Ecosystems Started revitalizing mangrove ecosystems at Pulicat near Chennai

May 27, 2024 by Mansi Praharaj 0 Comments #' Mangroves Matter', #'jungle of roots', #'Mangroves Matter' campaign, #2024, #Andhra Pradesh, #brackish water body, #Chennai, #COP28, #ecosystems, #India's second-largest brackish water body., #Karnataka, #Kerala, #Mangrove, #Pulicat, #Pulicat or Pazhaverkadu, #Pulicat region, #Rajesh Krishnan, #Sriram Ananthanarayanan, #Tamil, #Tamil Nadu, #United Way Bengaluru, #United Way Bengaluru (UWBe), #water body., #World Wetlands Day

Mangrove @ Pulicat 1

Bengaluru, May 27, 2024: Recent reports indicate a staggering loss of about 35% of mangroves between 1996 and 2010 highlighting a concerning trend in environmental degradation. Mangrove ecosystems play a significant role in stabilizing coastlines, making their preservation crucial for the environment and inhabitants. Mangroves are a natural solution to climate change, the paramount global threat. They can sequester carbon at a rate five times greater than tropical forests.

Responding to this urgent need, United Way Bengaluru (UWBe) has launched an ambitious and impactful campaign, ‘ Mangroves Matter’, to revitalize mangrove ecosystems. The first foot is at Pulicat or Pazhaverkadu, a coastal town near Chennai, Tamil Nadu. Known as the ‘jungle of roots‘ in Tamil, Pulicat encompasses a vast expanse of 720 sq. km, constituting India’s second-largest brackish water body. Rampant destruction of mangrove vegetation by human activities and natural causes has led to a massive reduction in the lake’s depth from 3.8m to 2m. This ecological decline has endangered biodiversity and threatened the livelihoods of local fisherfolk dependent on the mangrove ecosystem.

The ‘Mangroves Matter’ campaign was officially launched on World Wetlands Day, 2024, with a bold vision to rewild approximately 10 lakh mangroves across 100 acres in the Pulicat region alone. In addition to their environmental advantages, the campaign will closely work with the Irula community, opening up livelihood opportunities for them and boosting the local economy by supporting the cultivation of shrimp and fish species. The project also includes removal of acres of Prosopis ( Karuvelam ), an invasive species which has destroyed the local flora and soil ecosystems.

Sriram Ananthanarayanan, Director-Projects, UWBe, said, “I am glad that many of our Corporate CSR partners have come forward to support this campaign with a shared vision towards environmental commitment. Notably, our CSR partner, Mphasis, has pledged their support to this cause, dedicating the rewilding of mangroves on 70 acres in Pulicat. “

Looking ahead, United Way Bengaluru envisions extending the campaign’s reach to other regions, including Andhra Pradesh, Karnataka, and Kerala. Upholding its mission of “mobilizing the caring power of communities,” the organization calls upon organizations from different industries to join hands in supporting this vital mission for the preservation of the planet’s precious ecosystems.

Rajesh Krishnan, CEO, UWBe, said, “COP28 made significant progress towards securing the Mangrove Breakthrough’s goal of 15 million hectares of mangroves underpinned by USD 4 billion new investments by 2030. I am super excited that United Way Bengaluru is among the very few organisations who have taken this initiative. ‘Mangroves Matter’ is aligned with the aspiration of COP28, which calls out the responsibility of the State, corporations, local people, community, NGOs and other stakeholders to deliver the Breakthrough.”

News

Women Role Models in STEM Shine at myAvtar Career Conference, 2024

May 27, 2024 by Mansi Praharaj 0 Comments #“Women in STEM”, #2024, #ACT, #Aditya Birla Group, #AKJ Somaiya Institute Of Management, #and networking for women, #AstraZeneca, #Avtar Group, #BENGALURU, #Bhubaneshwar, #Biocon Biologics Pvt Ltd, #Broadridge Financial Solutions India Limited, #Chennai, #Coimbatore, #collaboration, #Deepti Singh, #Diversity, #Dr Saundarya, #Engineering, #Engineering & Mathematics (STEM), #Equity and Inclusion (DEI) Solutions firm, #Gallagher, #Google Cloud, #Gurgaon, #Happiest Minds Technologies Limited, #HDFC ERGO, #Hyderabad, #IBM, #IBM India, #Indujaa Thangavel, #industry-leading companies, #influence of women in the STEM field, #Johnson & Johnson, #Karnataka Trade Promotion Organization (KTPO), #knowledge exchange, #Kyndryl and Molecular Connections Pvt Ltd, #learning, #MACC, #Madurai, #Mathematics (STEM), #mentorship, #Moody’s, #MuthuSusithra Devarajan, #myAvtar Career Conference, #myAvtar Career Conference (MACC), #myAvtar Career Conferences, #networking for women, #Nishtha Mahendru, #Priya Kanduri, #professionals, #Publicis Sapient, #pune, #Renault Nisan Tech, #Saundarya Rajesh, #Science, #sharing, #STEM industry, #Stryker, #Subbulakshmi Ramkumar, #Technology, #Vaijayanthi Srinivasa Raghavan, #Verisk, #Women Role Models in STEM, #Yogita Bhanwaria

Bengaluru, May, 2024: Avtar Group, India’s leading Diversity, Equity and Inclusion (DEI) Solutions firm, hosted the myAvtar Career Conference (MACC) at Karnataka Trade Promotion Organization (KTPO), Bengaluru today.

myAvtar Career Conference (MACC), the career extravaganza brought together inclusive companies and a vast pool of women talent from the field of Science, Technology, Engineering, Mathematics (STEM) under one roof. Participating Companies included, Aditya Birla Group, Publicis Sapient, Broadridge Financial Solutions India Limited, Moody’s, Renault Nisan Tech, IBM India, Google Cloud, HDFC ERGO, ACT, AstraZeneca, Johnson & Johnson, Gallagher, Happiest Minds Technologies Limited, Stryker, Verisk, AKJ Somaiya Institute Of Management, among many others.

Tailored for Women in Science, Technology, Engineering & Mathematics (STEM), MACC offered a unique platform to connect, collaborate, and converse with like-minded professionals, industry-leading companies, and renowned experts in the industry. The conclave was an ecosystem designed to foster learning, sharing, and networking for women in the STEM field; an opportunity to explore new horizons in the STEM field, to grow personally and professionally, and to unlock a world of possibilities. The conference witnessed a large gathering of students, educators, professionals, and industry leaders who shared their knowledge, experiences, and insights.

STEM Shine at myAvtar Career Conference, 2024

Avtar Group also announced the winners of their inaugural “Women in STEM” Awards. This Awards recognize and celebrate the outstanding achievements of women who are making significant strides in the STEM fields. In STEM Icons 15 plus years of work experience category, Vaijayanthi Srinivasa Raghavan Senior Director, UPS India Technology Centre, Priya Kanduri, CTO, SVP – Cyber Security Services, HappiestMinds Technologies Limited, Deepti Singh, Deputy General Manager- Head of Department System Installation, Renault Nissan Tech have received top 3 awards. In STEM Divas 8-15 years of work experience category, Subbulakshmi Ramkumar, Deputy Manager, RNTBCI, Yogita Bhanwaria, Senior Manager, Biocon Biologics Limited, MuthuSusithra Devarajan, Team Manager, Broadridge Financial Solutions have received top 3 awards. In STEM Stars 2-8 years of work experience category, Nishtha Mahendru, Consultant, Applied Innovation Exchange, Capgemini, Nidhi Raut, Sr. Engineer, Renault Nissan Technology Business Centre India (RNTBCI), Indujaa Thangavel, Broadridge Financial Solutions have received top 3 awards.

“One of the key sectors that has the potential to boost women’s workforce participation, is the STEM industry. While 43%of STEM graduates are women, they make up only 28% of the STEM workforce. Moreover, women drop out of the workplace due to childbirth, childcare and elder care. Consequently, only 3 percent of women hold CEO posts in the STEM Industry. While research has established that improving women’s workforce participation can boost India’s GDP by 27%, more women in STEM would set the stage for inclusive innovation and solution designs that are equitable for all. Women have historically been underrepresented in STEM, yet they bring invaluable perspectives and ideas to these fields. MACC awards recognizes the exceptional talent, the brilliance, and diverse perspectives of women in STEM,” said Dr Saundarya Rajesh, Founder – President, Avtar Group announcing the awards at the myAvtar Career Conference today in Bengaluru.

“Through MACC, we are acknowledging the remarkable work being done by women in STEM and also addressing the systemic barriers they face. Our goal is to create an environment where every individual, regardless of gender, has the opportunity to thrive and drive progress,” added Dr Saundarya.

At the conference, three organizations with the “Best Programs for enabling women in STEM” – Biocon Biologics Pvt Ltd, Kyndryl and Molecular Connections Pvt Ltd were also recognized.

In addition to the awards, the myAvtar Career Conferences hosted a series of panel discussions, skilling tracks conducted by IBM, Google Cloud, Johnson & Johnson and Publicis Sapient exclusively for women. The event also provided a platform for knowledge exchange, mentorship, collaboration, further strengthening the presence and influence of women in the STEM field.

The conference hosted in the hybrid mode –saw an attendance of over 3000 women at the on-ground event, while there were over 2000 attendees virtually. Companies opened up jobs from entry-level to senior-level positions across India – Bengaluru, Chennai, Gurgaon, Hyderabad, Pune, Bhubaneshwar, Madurai and Coimbatore.

News

AU Small Finance Bank and Fincare SFB merger effective April 1, 2024, marking the completion of the first M&A among Small Finance Banks

Apr 2, 2024 by Sujata Muguda 0 Comments #2024, #AU SFB, #AU Small Finance Bank, #Competition Commission of India, #engaluru, #Fincare SFB merger effective April 1, #India’s largest SFB, #Indian Merger and Acquisition, #Mr. Rajeev Yadav, #Mr. Uttam Tibrewal, #SFBB, #Small Finance Banks

Bengaluru, April 2, 2024: By the Reserve Bank India (RBI) approval dated March 4, 2024,
AU Small Finance Bank (AU SFB), India’s largest SFB, announced the amalgamation of Fincare Small Finance Bank (Fincare SFB) with and into AU SFB, effective today. This merger helps AU SFB to establish a robust pan-India retail banking franchise by leveraging complementary geographic footprints, and diverse customer segments with a wider product offering and digital capabilities.

In an all-stock merger deal first announced on October 29, 2023, where the shareholders of Fincare SFB received 579 equity shares in AU SFB for every 2,000 equity shares held in Fincare SFB, the merger received final approval from RBI on March 4, 2024, with effective date of April 1, 2024. Earlier on January 23, 2024, the Competition Commission of India (“CCI”) granted its approval for the merger under the provisions of Section 31(1) of the Competition Act, 2002.

This is among the fastest merger approvals in the Indian Merger and Acquisition (M&A) space, with all approvals received within 4.5 months. With this, AU SFB becomes a formidable banking franchise with a combined base of 1 crore+ customers, 43,500+ employees, and a network of 2,350+ physical touchpoints across 25 states and union territories, having a deposit base and balance sheet size (all numbers are as on December 31, 2023, on proforma basis).

The focus now shifts to ensuring a smooth and seamless integration within the next 9-12 months and delivering exceptional banking services and value to the customers.

As part of this merger, Mr. Rajeev Yadav, former MD & CEO of Fincare SFB, has been designated as the Deputy CEO of AU SFB and shall continue to lead all key asset businesses of Fincare SFB, now housed within the Fincare Unit at AU SFB. AU SFB recently consolidated its operations into five business groups and ‘Fincare Unit’ shall become its 6th business group. Additionally, Mr. Uttam Tibrewal, Executive Director at AU SFB, has been elevated to Deputy CEO and Executive Director, of AU SFB.

Post-merger, all 59 lakh plus customers of Fincare SFB will be able to experience and enjoy the best-in-class digital services and flagship products (both assets & liabilities) of AU SFB including its offerings like credit cards, QR code, video banking, and AU0101.

To ensure a seamless transition and minimal customer disruption due to the merger, both tech-led banks with strong customer orientation have established a dedicated task force and equipped their call centers to answer all customer queries.

The merger is also expected to provide AU SFB with enhanced access to South India, significantly expanding its distribution network. This increased presence will facilitate the distribution of the bank’s diverse range of products and services to a wider customer base, strengthening its market position in the region.

Commenting on this transformative merger, Mr. Sanjay Agarwal, Founder, MD & CEO of AU Small Finance Bank, remarked, “Today marks a significant milestone in our journey of building a ‘Forever Bank’ and I take this opportunity to welcome the customers, shareholders, and employees of Fincare to AU family. This merger represents not just the amalgamation of two entities, but the convergence of our shared vision to redefine banking excellence in India. I would like to thank the Government of India and the Reserve Bank of India and all other regulatory authorities for their blessings and expeditious approval process. With this integration, I assure them of building a well-governed, always compliant and a stronger retail banking franchise that will, over the coming decades, contribute to the growing India story. This merger underscores our commitment to financial inclusion and with our combined strength, we can serve all segments of customers, including low-income households, HNIs as well as MSMEs, through physical and digital channels both, offering a holistic bouquet of products, including cross-border business that will get launched soon under the Authorized Dealer – Category I license (AD Cat-I)”.