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Adani One, the super app by Adani group, launches cobranded credit card with ICICI Bank. The card offers rewards for spends within Adani ecosystem.

Ola Electric, eyeing an IPO, is reportedly trimming its workforce by 400-500 employees to streamline operations. This number may change as the senior leadership is still concluding the scale of the layoffs. They are expected to hit multiple verticals, sources told ET.

Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.

Google is testing a new AI-based scam call detection feature. However, its legality is in question, as profiling callers based on conversation content without their consent is not permitted in India. In 2021, one scammer in India was responsible for 202 million scam calls, which is about 27,000 fraud attempts every hour.

The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country.

Uppercase–a luggage brand started by former VIP Industries MD Sudip Ghose–is in talks with Flipkart-backer Accel to raise new capital, sources told us. This would be the third major deal in the space after Peak XV Partners Mokobara investment and Lighthouses bet on Safari.

Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademys changing ambitions as well as the broader sluggishness in the startup funding ecosystem.

Reliance Retail, a subsidiary of Reliance Industries, has begun testing the governments Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.

Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.

The European Union wrapped up approval of the worlds first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Generally applicable AI will have a year to comply, while high-risk systems get up to three years.