Latest news with #SiddharthShah
Mint
07-07-2025
- Business
- Mint
Siddharth Pai: India's IT firms have a unique opportunity in AI's trust deficit
Next Story Siddharth Pai Indian IT majors needn't be at the receiving end of an AI revolution. As trust in AI is a big global worry, the use of generative AI under human supervision can generate the assurances that clients need. Domestic software companies are well placed for this. Tier-1 software majors like TCS have woven GenAI into their workflows, emphasizing pilot deployments and internal automation over big-scale consulting mandates. Gift this article Indian IT services firms are confronting a challenge with AI set to decimate their computer programming work. But an interesting vacuum will be created by AI's steady march into computer code: the AI trust crisis. In the words of my colleague Siddharth Shah, 'The AI trust crisis is already here… And no one's talking about the layer that will make or break enterprise deployments,". Indian IT services firms are confronting a challenge with AI set to decimate their computer programming work. But an interesting vacuum will be created by AI's steady march into computer code: the AI trust crisis. In the words of my colleague Siddharth Shah, 'The AI trust crisis is already here… And no one's talking about the layer that will make or break enterprise deployments,". This layer hinges on human oversight, transparency and explainability—precisely the 'trust' dimensions that could turn Generative AI from liability to a lucrative revenue stream for Indian providers. Tier-1 software majors like TCS have woven GenAI into their workflows, emphasizing pilot deployments and internal automation over big-scale consulting mandates. Their strength lies in retraining developers on tools like GitHub Copilot and low-code platforms, automating boilerplate coding while retaining humans in the loop for critical paths. That 'human in the loop' ethos directly addresses one of the central concerns Shah identifies: ensuring systems remain aligned with human intentions. Tier-2 providers such as LTI Mindtree lack TCS's scale, but they shine in agility. Their typical positioning as productivity enhancers rather than code replacers allows them to layer trust-focused oversight atop GenAI output. Without this, many enterprise deployments will stall. By doing so, they offer faster proof of concept to clients anxious about AI accuracy and auditability. When contrasted with non-Indian players like Accenture and IBM, a distinct divergence appears. Accenture has already booked billions of dollars in GenAI projects and IBM is realigning its global consulting structure around AI units. They are aggressively pushing end-to-end AI transformations—including automated code generation pipelines—with less apparent concern for incremental human mediation. But that appetite for scale means they must also invest heavily to close the AI trust deficit. For Indian firms, the trust deficit represents not just a compliance challenge, but a commercial opening. Trust in AI is not merely abstract ethical talk: it is about reliability, explainability and behaviour certification. Shah writes that trust can be assessed 'by looking at the relationship between the functionality of the technology and the intervals of human intervention in the process. That means that the less intervention, the greater the confidence." Yet, in practice, enterprises often demand greater human oversight for sensitive use cases. For Indian providers, whose business model runs on cost-effective human resources, enabling that oversight at scale can be a strategic differentiator. They invested heavily in the past in automation for IT infrastructure and business process operations. Their automation playbooks now form the backbone of GenAI's enterprise strategies. Firms often train developers in prompt engineering and validation alongside generative code output. Human reviewers validate, correct and certify code before deployment, creating an audit trail. This aligns with the thesis that to build trust, you must create human-mediated checkpoints that govern AI behaviour. Relationships with hyperscalers remain robust: Tier-1 providers co-engineer GenAI offerings with Azure, AWS and Google Cloud, hosting models on hyperscaler infrastructure rather than building vast data centres. Tier-2 firms integrate with hyperscalers or Indian startup cloud platforms. In contexts where sovereignty and residency matter, Indian providers partner with startups to offer managed GenAI tools within India. Domestic hosting also helps build trust, particularly with regulators. Also Read: AI didn't take the job. It changed what the job is. Indian firms collaborate with niche startup AI vendors for explainability tools, code‑lineage trackers and behaviour‑audit platforms. They are building or buying tooling to surface provenance, metrics and error‑diagnosis alongside code generation modules. In contrast, non-Indian service providers tend to sell large-scale generative code deployments as transformational consulting journeys. Indian firms can undercut on price while building trust layer offerings that rely on domestic teams and documentation. The trust deficit thus could become a money-spinner for Indian IT services. As organizations grapple with AI bias, hallucinations and a lack of transparency, demand will grow for human-mediated code generation services. Human reviewers need to monitor, validate and correct AI-generated code. The 'human in the loop' thus becomes not only a safety net, but a commercial lever. However, one size does not fit all. Tier-1 Indian players should continue embedding trust‑layer capabilities into their GenAI practice by building specialized AI governance units, collaborating with domestic 'explainability' startups, and quantifying trust-related billing models. Tier-2 firms should double down on managed code‑agent offerings, with built-in human review workflows, transparency dashboards and prompt governance. For global giants like Accenture and IBM, offering tiered pricing on trust-enhanced deployments and adapting consulting models to regional cost structures may help. Across the board, the most viable strategy is a hybrid model that combines GenAI productivity gains with layered human oversight, clear provenance, explainability tooling and risk control. The trust deficit is not just a challenge; it is fast becoming a strategic opening—one that Indian providers are uniquely equipped to monetize. The author is co-founder of Siana Capital, a venture fund manager. Topics You May Be Interested In Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Time of India
23-06-2025
- Automotive
- Time of India
Taxi apps renew GST plea; PharmEasy founders start up again
Taxi apps renew GST plea; PharmEasy founders start up again Also in the letter: Ride-hailing firms to flag SaaS services GST worries to CBIC Jargon buster: Driving the news: Market dynamics: Rapido currently uses the subscription model for its autorickshaw and four-wheeler ride-hailing services. Uber has implemented the model for its three-wheeler offerings. Ola Consumer, which first adopted the subscription approach for autorickshaws, expanded it to include four-wheeler taxi services earlier this month. ONDC-backed Namma Yatri has operated on a subscription basis since its inception, offering autorickshaw rides without a commission. Catch up quick: PharmEasy founders venture out again with new startup All Home Tell me more: Key details: All Home has raised $20 million in equity and debt funding. The startup has been valued at $120 million. Bessemer Venture Partners led the funding round, alongside several angel investors. PharmEasy CEO Siddharth Shah has also invested in the company. Quote, unquote: IT's Europe deal momentum is up after three slow quarters Numberwise: IT deals originating from Europe rose by around 5% compared to the previous quarter, while the US market remained flat with just 2% growth, according to US-based research firm HFS Group. The total value of European deals climbed to $4.08 billion between January and March 2025, up from $3.4 billion in the previous quarter and $3.5 billion in the same period last year, as per data services platform ISG. Deal book: Tata Consultancy Services (TCS) signed six deals in Europe since March. Infosys partnered with Allied Irish Banks and the UK's Yorkshire Building Society. HCLTech secured an engineering services contract with Swedish truck maker Volvo. L&T Technology Services and Tata Elxsi each signed €50 million contracts with unnamed European automotive clients. Wipro has appointed a new CEO for its European strategic unit amid a softer outlook. Other Top Stories By Our Reporters Amazon India enters at-home diagnostics space, expands healthcare vertical: Zetwerk set to pump Rs 500–800 crore for component making: Infosys' Bengaluru, Chennai centres top April on-site attendance: Global Picks We Are Reading Happy Monday! Ride-hailing firms plan fresh appeals to the indirect tax department over GST on subscription-based services. This and more in today's ETtech Morning Dispatch.■ Indian IT's European spring■ Amazon's fresh foray■ Zetwerk's manufacturing pushCab aggregator firms are preparing to make new representations to the indirect taxes department concerning the contentious issue of the applicability of Goods and Services Tax (GST) for services offered under the subscription-based SaaS the SaaS model, platforms charge gig workers a fixed subscription fee instead of pocketing a commission on each transaction. In this case, SaaS stands for 'Subscription as a Service.'Companies such as Rapido, Uber, and Ola plan to express their concerns regarding how the subscription model is taxed. According to sources familiar with the matter, this renewed push follows conflicting interpretations by the Karnataka Authority for Advance Rulings (AAR), leading to inconsistent treatment of the SaaS 5% GST is applicable under Section 9 (5) of the Central GST Act. This provision requires ecommerce platforms, such as ride-hailing firms, food delivery companies, and online marketplaces, to collect and remit tax on behalf of service providers using their apps. These include drivers, restaurants, and ecommerce sellers.(L-R) Dharmil Sheth, Dhaval Shah, and Hardik Dedhia, founders, PharmEasyThree cofounders of PharmEasy, who exited their executive roles earlier this year, have launched a new startup focused on the architectural and interior design Sheth, Dhaval Shah, and Hardik Dedhia have launched All Home, which plans to back consumer-facing brands across various categories, including sanitaryware, furniture, kitchen and wardrobe, and home hardware. The venture will invest in these brands while offering a mix of technology support, digital-first manufacturing and distribution capabilities, and market intelligence.'Consumers are increasingly willing to invest in their living and working spaces, yet often lack access to the appropriate channels and products. Our platform aims to address this gap,' Dhaval Shah Indian IT firms facing headwinds in their largest market, the United States, due to policy and trade uncertainties, Europe has emerged as a bright spot . After three subdued quarters, deal activity across the continent has gained ecommerce giant has teamed up with Orange Health Labs to introduce its diagnostics service , allowing home sample collection within 60 minutes and providing test results in under six hours for routine Bengaluru-based unicorn is seeking to invest in the manufacturing of printed circuit boards (PCBs), enclosures, and electromechanical components such as heat sinks and sensors, while preparing an application for the government's PLI development centres in Bengaluru, Chennai, and Pune had the highest on-site attendance in April, while the offices in Nagpur, Indore, and Gurgaon recorded the lowest.■ The $10 billion delivery empire built on Shein and TikTok orders ( Rest of World ■ How to out-troll the trolls, as told by the internet's foremost posters ( Wired ■ You sound like ChatGPT ( The Verge
Economic Times
19-06-2025
- Business
- Economic Times
ArisInfra Solutions IPO subscribed 88% on Day 2: Check GMP, other details
Live Events What is the GMP of ArisInfra Solutions? About ArisInfra Solutions (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering (IPO) of ArisInfra Solutions was subscribed to 88% by the second day of bidding, largely driven by strong participation from retail of 2:48 pm on Wednesday, the retail investor category was subscribed 2.5 times, followed by non-institutional investors (NIIs) at 93%, while the qualified institutional buyers (QIBs) category remained muted at 0.31%.According to the minimum bid details, retail investors must apply for at least one lot of 67 shares, translating to an investment of Rs 14,070 at the lower price band or Rs 14,874 at the upper band to qualify for allotment. For sNII (small Non-Institutional Investors), the minimum application size is 14 lots, or 938 shares, requiring an investment of approximately Rs 2,08,236. Meanwhile, NIIs (Non-Institutional Investors) are required to bid for a minimum of 68 lots, equivalent to 4,556 shares, amounting to Rs 10,11, Read: These 9 Nifty Microcap Index stocks trading below industry PE may rally up to 42% According to the company's Draft Red Herring Prospectus (DRHP), the net proceeds from the public issue will mainly be used to fund ArisInfra's working capital needs as it scales up its operations across multiple IPO, consisting entirely of a fresh issue of equity shares, has set a price band of Rs 210 to Rs 222 per share for its Rs 500 crore offering. The subscription window opened earlier today and will close on June shares of the company are expected to be listed on the BSE and NSE on June 25. Allotment is likely to be finalised by June issue is being managed by JM Financial IIFL Capital Services , and Nuvama Wealth Management , with MUFG Intime India (Link Intime) serving as the registrar to the of ArisInfra Solutions, a tech-driven B2B construction materials platform, are trading at a grey market premium of 9.9% or Rs 20-22 in the unlisted in 2021, ArisInfra Solutions is a technology-driven B2B procurement platform backed by Siddharth Shah, co-founder of PharmEasy. The company aims to digitally transform the procurement ecosystem for construction materials by catering to institutional buyers such as real estate developers, contractors, and infrastructure firms. It facilitates the bulk supply of essential materials, including steel, cement, and unified digital platform integrates warehousing, logistics, quality control, and just-in-time delivery, offering clients a streamlined experience. Through its interface, users can place orders, track shipments, manage documentation, and access technical support — positioning ArisInfra as a frontrunner in innovation within the construction supply chain industry.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
19-06-2025
- Business
- Time of India
ArisInfra Solutions IPO subscribed 88% on Day 2: Check GMP, other details
The initial public offering (IPO) of ArisInfra Solutions was subscribed to 88% by the second day of bidding, largely driven by strong participation from retail investors. As of 2:48 pm on Wednesday, the retail investor category was subscribed 2.5 times, followed by non-institutional investors (NIIs) at 93%, while the qualified institutional buyers (QIBs) category remained muted at 0.31%. According to the minimum bid details, retail investors must apply for at least one lot of 67 shares, translating to an investment of Rs 14,070 at the lower price band or Rs 14,874 at the upper band to qualify for allotment. For sNII (small Non-Institutional Investors), the minimum application size is 14 lots, or 938 shares, requiring an investment of approximately Rs 2,08,236. Meanwhile, NIIs (Non-Institutional Investors) are required to bid for a minimum of 68 lots, equivalent to 4,556 shares, amounting to Rs 10,11,432. Also Read: These 9 Nifty Microcap Index stocks trading below industry PE may rally up to 42% According to the company's Draft Red Herring Prospectus (DRHP), the net proceeds from the public issue will mainly be used to fund ArisInfra's working capital needs as it scales up its operations across multiple regions. The IPO, consisting entirely of a fresh issue of equity shares, has set a price band of Rs 210 to Rs 222 per share for its Rs 500 crore offering. The subscription window opened earlier today and will close on June 20. The shares of the company are expected to be listed on the BSE and NSE on June 25. Allotment is likely to be finalised by June 23. The issue is being managed by JM Financial , IIFL Capital Services , and Nuvama Wealth Management , with MUFG Intime India (Link Intime) serving as the registrar to the offer. What is the GMP of ArisInfra Solutions? Shares of ArisInfra Solutions, a tech-driven B2B construction materials platform, are trading at a grey market premium of 9.9% or Rs 20-22 in the unlisted market. About ArisInfra Solutions Founded in 2021, ArisInfra Solutions is a technology-driven B2B procurement platform backed by Siddharth Shah, co-founder of PharmEasy. The company aims to digitally transform the procurement ecosystem for construction materials by catering to institutional buyers such as real estate developers, contractors, and infrastructure firms. It facilitates the bulk supply of essential materials, including steel, cement, and aggregates. ArisInfra's unified digital platform integrates warehousing, logistics, quality control, and just-in-time delivery, offering clients a streamlined experience. Through its interface, users can place orders, track shipments, manage documentation, and access technical support — positioning ArisInfra as a frontrunner in innovation within the construction supply chain industry.
Economic Times
18-06-2025
- Business
- Economic Times
ArisInfra Solutions IPO subscription at 5% so far on day 1. Check GMP & other details
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering ( IPO ) of ArisInfra Solutions, a tech-driven B2B construction materials platform has attracted a total subscription of 5% within the first hour of the issue opening, led by an enthusiasm from the retail 11 am, retail investors had subscribed 23% of the issue, bidding for 5,46,921 shares of the company, out of the total 23,79,028 reserved. The non-institutional investors followed, with a subscription of 5%, while the qualified institutional buyers had not made any to the minimum bid details, retail investors must apply for at least one lot of 67 shares, translating to an investment of Rs 14,070 at the lower price band or Rs 14,874 at the upper band to qualify for allotment. For sNII (small Non-Institutional Investors), the minimum application size is 14 lots, or 938 shares, requiring an investment of approximately Rs 2,08,236. Meanwhile, NIIs (Non-Institutional Investors) are required to bid for a minimum of 68 lots, equivalent to 4,556 shares, amounting to Rs 10,11, to the company's Draft Red Herring Prospectus (DRHP), the net proceeds from the public issue will mainly be used to fund ArisInfra's working capital needs as it scales up its operations across multiple IPO, consisting entirely of a fresh issue of equity shares, has set a price band of Rs 210 to Rs 222 per share for its Rs 500 crore offering. The subscription window opened earlier today and will close on June shares of the company are expected to be listed on BSE and NSE on June 25. Allotment is likely to be finalized by June read: Oswal Pumps IPO allotment to be finalised today. Check status, GMP and other details The issue is being managed by JM Financial IIFL Capital Services , and Nuvama Wealth Management , with MUFG Intime India (Link Intime) serving as the registrar to the of ArisInfra Solutions are trading at a grey market premium of 9.9% or Rs 22-24 in the unlisted in 2021, ArisInfra Solutions is a technology-driven B2B procurement platform backed by Siddharth Shah, co-founder of PharmEasy. The company aims to digitally transform the procurement ecosystem for construction materials by catering to institutional buyers such as real estate developers, contractors, and infrastructure firms. It facilitates the bulk supply of essential materials including steel, cement, and unified digital platform integrates warehousing, logistics, quality control, and just-in-time delivery, offering clients a streamlined experience. Through its interface, users can place orders, track shipments, manage documentation, and access technical support — positioning ArisInfra as a frontrunner in innovation within the construction supply chain industry.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
