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Fed’s Waller defends dollar’s global dominance role

Federal Reserve Governor Christopher Waller said the US dollar is likely to remain the world’s dominant reserve currency despite growing discussions around alternatives and geopolitical shifts.

Speaking at the Federal Reserve’s Fifth Conference on the International Roles of the US Dollar, Waller highlighted that the dollar’s strength is rooted in the size of the US economy, deep financial markets and strong institutional credibility. He argued that no other currency currently offers the same combination of liquidity, safety and global acceptance.

While acknowledging challenges from digital currencies and evolving payment systems, Waller said the dollar’s position remains secure. He noted that trust in US institutions continues to underpin the currency’s global role, making any significant shift away from the dollar unlikely in the near future.

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AI influencers drive marketing campaigns

Brands across the world are increasingly turning to AI-generated influencers to promote products on social media, reshaping the digital marketing landscape. These virtual personalities can create content around the clock, speak multiple languages and cost significantly less than human influencers.

Companies say AI influencers offer greater control over messaging and branding, while helping reach wider audiences. However, critics have raised concerns about transparency, authenticity and the potential impact on consumer trust.

Experts believe AI influencers will continue gaining popularity, but stress the need for clear disclosure rules to ensure users know when content is created by artificial intelligence.

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AI tax return filing tools raise accuracy, privacy concerns

As income tax return filing season gains momentum, experts are warning taxpayers against relying entirely on AI tools such as ChatGPT and Claude for preparing returns.

While these platforms can simplify tax concepts and assist with calculations, they may produce inaccurate responses, overlook recent tax rule changes or misinterpret individual financial situations.

Professionals also caution against sharing sensitive financial information due to privacy and data security concerns. Tax experts recommend using AI as a supplementary tool rather than a replacement for professional advice or official resources.

Careful verification remains essential to avoid filing errors, penalties and compliance issues.

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CDSCO cracks down on HCG ethics panel

The Central Drugs Standard Control Organisation (CDSCO) has suspended the ethics committee of HCG Hospital, Bengaluru, for two years over alleged violations in the oversight of clinical trials.

The action follows an inspection that reportedly uncovered deficiencies in regulatory compliance and ethical review procedures. While the committee cannot approve new clinical studies during the suspension period, it has been instructed to continue monitoring ongoing trials and ensure participant safety.

The regulator’s move highlights growing scrutiny of clinical research practices in India and reinforces the need for strict adherence to ethical standards, transparency and patient protection in medical studies.

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AI Agents outperform doctors in complex clinical decisions

A new study published in Nature has found that advanced AI agents can outperform doctors in complex clinical decision-making tasks.

Researchers tested the systems across various medical scenarios and found they often delivered more accurate diagnoses and treatment recommendations than individual physicians. Unlike traditional AI tools, these agents can reason through problems, gather information and adapt to new evidence.

Experts say the technology is not meant to replace doctors but support them in making better decisions. While the findings are promising, researchers stress that further real-world testing and strong regulatory safeguards are essential before widespread adoption.

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Vehant debuts India’s first AI body screening system

Vehant Technologies has launched MilliView, India’s first indigenously developed millimetre-wave (mmWave) body scanner, marking a major milestone in the country’s security technology sector. Developed in collaboration with IIT Delhi, the AI-powered scanner can identify both metallic and non-metallic threats, including explosives, detonators, gels and concealed weapons, in less than five seconds.

The system uses safe, non-ionising radiation and presents scan results through a gender-neutral avatar, helping protect individual privacy. Designed for deployment at airports, government buildings and other high-security facilities, MilliView aims to strengthen security screening while reducing dependence on imported technologies. The launch also supports the government’s Make in India initiative by promoting homegrown innovation in advanced security solutions.

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Vedanta, Hindalco, NALCO shares tumble after aluminium slide

Shares of major aluminium producers fell sharply on Wednesday after global aluminium prices declined following reports of a US-Iran peace agreement. Vedanta, Hindalco and NALCO dropped up to 5–6% as investors reacted to expectations of improved metal supplies and lower geopolitical risks.

The proposed deal is expected to reduce tensions in the Middle East and could eventually ease concerns over energy and raw material disruptions, factors that had supported aluminium prices in recent months. Analysts said weaker aluminium prices may impact profitability for producers, prompting selling pressure in metal stocks despite broader market strength.

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Nirmala Sitharaman highlights push for higher foreign inflows

Union Finance Minister Nirmala Sitharaman has said the government is taking additional measures to attract higher foreign capital inflows into India, emphasizing its commitment to maintaining the country as a preferred investment destination.

Speaking at an industry event, Sitharaman said India continues to offer strong growth opportunities backed by policy stability, infrastructure development and economic reforms. She noted that the government is working to create a more investor-friendly environment and strengthen ease of doing business.

The minister highlighted India’s economic resilience amid global uncertainties and said sustained reforms would help draw long-term foreign investments. Her remarks come as the government seeks to accelerate growth, create jobs and support industrial expansion through increased global investor participation.

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Flipkart bolsters leadership with key tech hires

Walmart-owned Flipkart has appointed several senior leaders across its AI, fintech and engineering divisions as it looks to strengthen its technology capabilities and drive innovation.

The new executives bring experience in artificial intelligence, product development, financial technology and engineering, and will help enhance customer experience and operational efficiency.

The appointments come as competition in India’s e-commerce sector intensifies and companies increasingly invest in AI-driven solutions. Flipkart said the hires reflect its focus on building strong leadership and advancing technology-led growth as it expands its presence in India’s rapidly growing digital economy.

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India drops from MSCI EM top 10 rankings

India has dropped out of the top 10 constituents of the MSCI Emerging Markets Index for the first time in 26 years, reflecting a shift in global investor focus toward artificial intelligence-driven companies. The benchmark is now dominated by technology giants from China, Taiwan and South Korea that have benefited from the global AI boom.

India’s highest-ranked company, Reliance Industries, now stands outside the top 10 by weight in the index. Despite strong domestic market performance and economic growth, Indian stocks have been overtaken by rapidly rising AI-related firms.

Analysts say the change highlights how global technology trends are reshaping investment flows and benchmark rankings across emerging markets.