Page 36 - Tech Prowess News Today

RBIs ban on DLG for P2P platforms reshapes industry operations, impacting prominent startups. Regulators actions aim to bolster governance but may raise customer acquisition costs and deter investors due to increased risks.

Novo Holdings, the investment arm of the Novo Nordisk Foundation, has 77% of voting shares in Novo Nordisk, which is known for producing blockbuster obesity drug Wegovy and diabetes treatment Ozempic.

Cyberattacks exploiting vulnerabilities tripled in 2023, driven by MOVEit. Extortion rose while stolen credentials fell. Financially motivated incidents had a $46,000 median loss. Concerns persist around GenAI and deepfakes in cyber threats.

Bengalurus Kogo AI introduces Kogo OS, a versatile AI platform. CEO Raj K Gopalakrishnan foresees business expansion. Global interest in LAMs evident with Rabbits R1, Microsoft, and Google investments in AI agents.

Birlasoft faces whistle-blower complaints alleging financial impropriety, with ongoing investigations. CEO Guha aims to diversify revenue sources, track clients performance, and mitigate risks due to market uncertainties.

Top IT services firms experience revenue growth in Europe, MEA, and APAC, outpacing North America. US clients are cautious about spending due to inflation. India and MEA witness investments in technology, driving demand for innovative solutions.

RBI cautions banks on gold loan disbursement concerns through fintechs like Rupeek, IndiaGold, and Oro Money. Banks evaluating next steps post IIFL Finance issue. Asset quality improved at Rupeek, with partnerships with Federal Bank, Indian Bank, and South Indian Bank.

Licious founders plan 500 stores in 5 years with 6% operating profit margin. Targeting profitability by FY25, focusing on offline strategy. Improved demand forecasting and introduced subscription model for growth.

AET Displays, part of Chinas Guangda Group, invests Rs 200 crore in India for manufacturing expansion. They plan to strengthen local supply chain, enhance R&D, and establish sales centers in key cities.

Areas that would also benefit were enterprise-grade reliability, performance, and compliance with data residency and privacy standards, the company added in a statement.