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Samsung Electronics Q2 profit likely to drop 39% on weak AI chip sales

Samsung Electronics Q2 profit likely to drop 39% on weak AI chip sales

Time of India5 hours ago
Synopsis
Its key rivals, SK Hynix and Micron, have benefited from robust demand for memory chips needed for AI, but Samsung's gains have been subdued as it relies on the China market, where sales of advanced chips have been restricted by the US. Its efforts to get the latest version of its HBM chips to Nvidia certified by Nvidia are also moving slowly, analysts said.
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RRB digitisation push: Nabard to complete IT integration of merged rural banks by Sep 30; New tech, stacks and digital pilots aimed at bridging rural-urban divide
RRB digitisation push: Nabard to complete IT integration of merged rural banks by Sep 30; New tech, stacks and digital pilots aimed at bridging rural-urban divide

Time of India

time17 minutes ago

  • Time of India

RRB digitisation push: Nabard to complete IT integration of merged rural banks by Sep 30; New tech, stacks and digital pilots aimed at bridging rural-urban divide

AI image The IT integration of recently amalgamated Regional Rural Banks (RRBs) under the 'One State One RRB' framework is likely to be completed by September 30, Nabard Chairman Shaji KV said on Monday. Speaking at a CII event, Shaji said the RRB amalgamation exercise, which took effect on May 1, aimed at enhancing scale efficiency and cost rationalisation across rural banking services. Post-merger, there are now 28 RRBs operating in 26 states and 2 Union Territories, with a combined network of over 22,000 branches covering 700 districts, according to PTI. 'As of May 1, the integration of RRBs at the state level has been completed. IT integration is expected to be finalised by September,' Shaji said. He added that Nabard (National Bank for Agriculture and Rural Development) is building a common digital infrastructure with the RRBs, rolling out credit platforms and government data systems to expand outreach in rural India. However, he acknowledged persistent challenges, including low internet bandwidth and limited awareness, but noted that collaborative efforts are underway with various organisations to resolve them. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 & 3 BHK Homes Near SGNP at Ghodbundar Rd Purva Panorama Click Here Undo by Taboola by Taboola Highlighting the broader digital roadmap, Shaji said Nabard is working to digitise agricultural value chains—about 20 of which are already in place—and bring more farmers, especially those without formal land records, into the formal banking system. To further enhance reach and transparency, Nabard is also deploying blockchain-based crop traceability systems and strengthening Business Correspondent (BC) networks in rural areas. The chairman said the government is also building additional technology stacks like the Agri Stack, Fisheries Stack, and Cooperative Stack. The 'Cooperative Stack' aims to integrate various rural schemes via Primary Agricultural Credit Societies (PACS), creating a unified system for benefit delivery. He noted that Nabard is leading the cooperative digitisation effort, with around 70,000 societies already digitised. It is also supporting pilots in partnership with NGOs and FinTechs through the Financial Inclusion Fund. Addressing the rural-urban income imbalance, Shaji pointed out that two-thirds of India's population contributes only one-third of the national income. Nabard is actively working on solutions to narrow this gap and transform farmers into agribusiness entrepreneurs. Additionally, the institution is setting up a sandbox environment that will allow fintechs to access anonymised data for developing rural-focused solutions, he added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Companies tried using AI to cut costs. Now they're paying humans to fix its errors
Companies tried using AI to cut costs. Now they're paying humans to fix its errors

Hindustan Times

timean hour ago

  • Hindustan Times

Companies tried using AI to cut costs. Now they're paying humans to fix its errors

When artificial intelligence became the biggest buzzword in tech, companies hoped it would help them slash headcount and save money. Instead, companies that rushed to replace staff with AI are now rehiring humans to fix its mistakes – and spending a fortune in the process. How using AI to cut costs has backfired for some companies (iStock) According to a BBC report, there is a burgeoning industry for software engineers and writers who are being hired to fix the mistakes made by AI. The trouble with AI Take the example of Sarah Skidd. When a content agency reached out to Sarah Skidd in May, they were in a bind. The website copy they had commissioned from a generative AI tool for a hospitality client wasn't up to the mark — and they needed it rewritten urgently. "It was the kind of copy that you typically see in AI copy – just very basic; it wasn't interesting," Skidd explained. "It was supposed to sell and intrigue but instead it was very vanilla." Skidd, a product marketing manager in Arizona who writes for tech and start-up companies, took 20 hours to rewrite the copy from scratch. At her usual rate of $100 an hour, the agency ended up paying $2,000. Skidd isn't worried about AI replacing her. In fact, it's giving her more business. "Maybe I'm being naive, but I think if you are very good, you won't have trouble," she told BBC. The rise of AI She's not alone. Many writers she knows are now being hired not to create new content, but to fix the errors AI-generated text leaves behind. Over the past few years, AI tools like ChatGPT and Google Gemini have become popular in business circles, seen as ways to streamline workflows and cut down costs. A recent survey by the UK's Federation of Small Businesses found that 35% of small firms plan to expand their AI use within two years. But Skidd's experience, and those of others like her, suggests that there may still be a long way to go before AI can match up to human standards. Sophie Warner, co-owner of Hampshire-based digital marketing agency Create Designs, says that in the last six to eight months, there has been an increase in the number of clients who want to fix the mess created by AI. "Before clients would message us if they were having issues with their site or wanted to introduce new functionality," Warner told BBC. "Now they are going to ChatGPT first." But adding code generated by ChatGPT has made some websites prone to crashing and vulnerable to attacks. In one case, a client asked ChatGPT how to update their event page – something Warner says would have taken just 15 minutes manually. But instead, the AI-generated code caused their website to crash, costing the business three days of downtime and about £360 in recovery costs. "We often have to charge an investigation fee to find out what has gone wrong, as they don't want to admit it, and the process of correcting these mistakes takes much longer than if professionals had been consulted from the beginning," said Warner.

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