Tag: AI

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Corporate

HCLTech secures $1.14 bn AI transformation deal

HCLTech has signed a $1.14 billion (around ₹9,500 crore) artificial intelligence-led digital transformation deal with a Europe-based Fortune Global 50 company, marking one of the largest contracts in the company’s history and reinforcing its growing presence in the global AI services market.

The multi-year agreement will see HCLTech deliver advanced AI-powered solutions and digital transformation services to its client. While the company has not disclosed the customer’s identity because of confidentiality agreements, it said the partnership highlights increasing demand for large-scale AI adoption among global enterprises.

The announcement was well received by investors, sending HCLTech shares up nearly 6% in Friday’s trade. The stock emerged as one of the top gainers on the Sensex as market participants welcomed the deal, viewing it as a strong endorsement of the company’s artificial intelligence capabilities and long-term growth prospects.

The contract is expected to strengthen HCLTech’s revenue pipeline at a time when global technology companies are witnessing rising demand for AI-driven automation, cloud computing and data modernisation services. Businesses worldwide are increasingly investing in artificial intelligence to improve efficiency, reduce operational costs and enhance customer experience.

The announcement comes as Indian IT firms continue to adapt to changing market conditions. Although discretionary spending has remained under pressure in some sectors, demand for AI solutions has opened fresh opportunities for technology companies with strong digital capabilities.

HCLTech has been steadily expanding its AI portfolio through investments in generative AI, automation platforms and strategic partnerships. The latest contract further strengthens its position in the competitive global IT services industry, where companies are racing to secure large AI-focused transformation projects.

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Beyond

BIS warns AI boom faces rising global financial risks

The global boom in artificial intelligence could lose momentum if rising debt, persistent inflation and excessive investment continue to build financial risks, the Bank for International Settlements (BIS) has warned in its latest annual report.

Often described as the “central bank for central banks”, the BIS said the rapid surge in AI-related spending has created strong optimism among investors. However, it cautioned that expectations may have moved ahead of economic reality, increasing the risk of financial instability if companies fail to generate the returns investors anticipate.

The report noted that major technology companies are investing hundreds of billions of dollars in artificial intelligence infrastructure, including data centres, chips and computing power. While these investments could transform productivity and drive long-term economic growth, the BIS warned that excessive spending financed through debt could leave companies and financial markets vulnerable if demand slows or profits disappoint.

The BIS compared the current AI investment wave with previous periods of market exuberance, including the dot-com boom, saying history shows that breakthrough technologies can attract more capital than markets can sustainably absorb. If investor confidence weakens, technology stocks could face sharp corrections with wider consequences for the global financial system.

Apart from AI, the institution also highlighted rising public debt, stubborn inflation and vulnerabilities in financial markets as key threats to the global economy. It urged governments and central banks to maintain sound fiscal policies, keep inflation under control and strengthen oversight of non-bank financial institutions to reduce systemic risks.

Despite its caution, the BIS stressed that artificial intelligence remains one of the most promising technological advances of recent decades. It said AI has the potential to improve productivity, boost innovation and support long-term economic growth if investments are made responsibly and supported by sustainable business models.

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1 Minute-Read

TCS partners Anthropic to scale enterprise AI adoption

Tata Consultancy Services (TCS) has partnered with artificial intelligence firm Anthropic to accelerate enterprise AI adoption and strengthen its workforce capabilities.

Under the collaboration, TCS will provide access to Anthropic’s Claude AI platform to 50,000 employees across functions such as engineering, finance, legal, marketing and sales. The companies will also jointly develop AI-powered solutions for industries including banking, healthcare, telecommunications and public services.

TCS said the partnership combines its industry expertise with Anthropic’s advanced AI technology to help clients improve productivity and drive digital transformation. The move reflects growing demand for enterprise AI solutions globally.

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Beyond

FSB sets AI governance rules for financial firms

The Financial Stability Board (FSB), the international body that monitors and makes recommendations about the global financial system, has released a set of guidelines to help banks, insurers and other financial institutions adopt artificial intelligence (AI) safely and responsibly.

The recommendations come as the financial sector increasingly uses AI technologies across a wide range of functions, including customer service, fraud detection, risk assessment, compliance monitoring and investment management. While AI offers significant opportunities to improve efficiency and decision-making, regulators have also raised concerns about potential risks associated with its rapid adoption.

In its report, the FSB outlined a series of sound practices designed to help financial institutions strengthen governance, oversight and risk management frameworks when deploying AI systems. The organisation emphasised that firms should ensure clear accountability for AI-related decisions and maintain adequate human supervision over critical processes.

The guidelines also call on financial institutions to improve transparency around AI models and establish controls to monitor their performance. Firms are encouraged to regularly assess risks linked to data quality, cybersecurity, model bias and operational resilience.

According to the FSB, financial institutions should ensure that AI systems are reliable, secure and aligned with existing regulatory requirements. The body warned that excessive reliance on complex AI models without proper safeguards could create vulnerabilities for individual firms and the broader financial system.

The recommendations were developed based on industry consultations and reviews of AI practices across major financial markets. The FSB noted that while AI adoption remains at varying stages globally, the technology is expected to play an increasingly important role in financial services in the coming years.

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Leaders

AI speeds up drug development says AstraZeneca CEO

AstraZeneca is increasingly turning to artificial intelligence (AI) to improve how new medicines are discovered and developed, with the company saying the technology is helping scientists make better decisions and improve the odds of success.

Speaking at a recent industry event, AstraZeneca Chief Executive Officer Pascal Soriot said AI is changing the way pharmaceutical research is carried out. By processing huge volumes of data quickly, AI helps researchers spot promising drug candidates earlier and avoid spending time and money on projects that are unlikely to work.

Developing a new medicine is often a long and costly journey. It can take more than a decade and billions of dollars to bring a drug to market, and many candidates fail during clinical trials. Soriot said AI can help tackle these challenges by guiding researchers towards better choices from the start.

He stressed that AI is not replacing scientists. Instead, it acts as a powerful assistant, helping researchers analyse information faster and make more informed decisions. The goal is to combine human expertise with advanced technology to improve productivity across the company’s research programmes.

The pharmaceutical industry has been embracing AI at a rapid pace. Companies are using the technology to identify disease patterns, design new molecules, analyse clinical trial results and uncover potential treatments more efficiently than before.

AstraZeneca is among the major drugmakers investing heavily in AI-powered research tools. The company sees the technology as an important part of its strategy to speed up innovation and deliver better treatments to patients around the world.

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Corporate

Adani eyes AI growth with green data centres

Adani Group is accelerating its push into data centres and digital infrastructure, positioning itself to play a key role in India’s growing artificial intelligence (AI) ecosystem. Group Chairman Gautam Adani said the conglomerate is now focused on building assets at scale, with investments spanning renewable energy, data centres, transmission networks and other infrastructure sectors.

Speaking about the group’s strategy, Adani said the focus is on creating long-term infrastructure platforms capable of supporting India’s rapid economic and technological growth. He noted that the next phase of development will be driven by large-scale investments in areas that are critical to the country’s future, including AI-powered digital infrastructure.

A major part of this strategy involves the development of green data centres powered by renewable energy. As AI adoption expands, demand for computing power and data storage is expected to rise significantly. Data centres, which form the backbone of digital services and AI applications, require vast amounts of electricity to operate. The Adani Group aims to meet this demand through clean energy sources, combining its strengths in renewable power generation with digital infrastructure development.

It is believed India’s AI ambitions will require massive investments in data processing capacity, cloud infrastructure and reliable power supply. The Adani Group sees an opportunity to create integrated facilities that combine renewable energy generation, transmission infrastructure and advanced data centre operations.

Gautam Adani said the group’s objective is not merely to participate in emerging sectors but to build infrastructure at a scale that can support national growth for decades. He highlighted that India’s digital economy is expanding rapidly and will require robust infrastructure to meet future demand.

The company has already made substantial investments in solar and wind energy projects and is among the country’s largest renewable energy developers. By linking these capabilities with data centre infrastructure, the group hopes to offer sustainable solutions for technology companies, cloud providers and AI-focused businesses.

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Leaders

Google DeepMind CEO questions AI-led layoffs

Google DeepMind CEO Demis Hassabis has criticised the growing trend of technology companies using artificial intelligence as a reason for workforce reductions, arguing that AI should be used to increase innovation and productivity rather than eliminate jobs.

In a recent interview, Hassabis said several companies appear to have “got AI backwards” by treating productivity gains as an opportunity to reduce headcount. He argued that if AI tools enable engineers to become three or four times more productive, companies should focus on creating more products, conducting more research and pursuing ambitious projects instead of laying off employees.

His remarks come at a time when several major technology firms, including Meta, Amazon and other companies, have announced layoffs while increasing investments in artificial intelligence. Many of these firms have cited efficiency improvements from AI as one of the factors behind workforce restructuring.

Hassabis strongly disagreed with that approach, describing it as a “lack of imagination” and a failure to understand the long-term impact of AI. He suggested that some companies may be overstating the threat of AI-driven job displacement for reasons unrelated to the technology itself, including business or fundraising considerations.

The DeepMind chief also extended an informal invitation to engineers affected by recent layoffs. He said he has “a million ideas” spanning areas such as drug discovery, scientific research and game development, and would welcome talented engineers to work on such projects. According to Hassabis, AI should free up human talent to tackle bigger challenges rather than make skilled workers redundant.

His comments have added to a broader debate within the technology industry about the future of employment in the age of artificial intelligence.

Hassabis maintained that productivity gains from AI should be viewed as a chance to expand ambitions rather than shrink workforces. As AI tools become increasingly capable, he believes companies that invest in innovation and new ideas will be better positioned to benefit from the technology’s long-term potential.

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Technology

YouTube boosts AI content transparency

YouTube is strengthening its fight against misleading AI-generated content by launching an automatic labelling system for videos created or heavily altered using artificial intelligence tools.

The platform said the new feature will detect realistic AI-generated content independently, even if uploaders do not mention AI usage while publishing videos. The labels are expected to appear mainly on content that may confuse viewers or misrepresent real events and personalities.

The update targets synthetic media such as deepfakes, cloned voices, digitally altered speeches and realistic AI-generated footage. YouTube clarified that basic editing functions and standard creator tools will not be affected under the policy.

The company previously required creators to self-disclose AI-generated content, but rising concerns around misinformation and fake online media have pushed the platform towards automated enforcement.

Technology experts say the move reflects increasing pressure on major digital platforms to address the risks associated with generative AI. Over the past year, AI-generated videos have become more sophisticated, making it harder for users to distinguish between authentic and manipulated content.

YouTube said the feature is intended to improve transparency while helping viewers better understand the nature of the content they consume. The company added that its detection systems will continue evolving as AI tools become more advanced.

Although YouTube has not shared specific technical details, reports suggest the platform will rely on machine learning models trained to identify patterns commonly found in synthetic media.

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Leaders

Customers Bank CEO lets AI clone handle earnings call

In an unusual move that highlights how quickly artificial intelligence is entering corporate life, Customers Bank CEO Sam Sidhu used an AI-generated version of his own voice during a recent earnings call.

Instead of speaking every part of the briefing himself, parts of Sidhu’s prepared remarks were delivered by an AI voice clone designed to sound like him. He was still present on the call, but the digital version handled sections of the presentation.

The US-based bank said the experiment was meant to show how deeply AI is being integrated into its operations. The bank has been investing in automation tools and working closely with AI technology providers to streamline internal processes.

According to executives, the goal is to use AI across areas like loan processing, customer onboarding and routine banking operations, reducing the time and effort needed for everyday tasks.

Sidhu has been positioning AI as a key part of the bank’s future strategy, saying it could help improve efficiency and speed up services while lowering operational costs.

The use of an AI voice in an official earnings call stood out because such events are usually seen as formal and fully human-led. The move has drawn attention in the financial sector as a sign of how quickly technology is evolving.

The bank said the AI experiment reflects its broader shift toward “digital workers” that can support or even replace certain repetitive roles, allowing staff to focus more on complex decision-making and customer relationships.

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Technology

Amazon bets on AI retail store in India

Amazon has launched an AI-focused online store in India, marking a strategic push to capitalise on the fast-growing demand for artificial intelligence-powered consumer electronics.

The new storefront groups together AI-enabled products across categories such as smartphones, laptops, televisions, and home appliances, reflecting how AI is becoming central to the next wave of tech upgrades.

Industry trends show that consumers are no longer treating AI as a niche feature. Instead, it is increasingly influencing buying decisions, especially in premium and mid-range devices. Searches for AI-enabled products have seen strong year-on-year growth, with computing devices and smart entertainment products leading the surge.

A notable shift is the geographic spread of this demand. A large share of interest is now coming from tier-2 and tier-3 cities, pointing to deeper market penetration and a broader digital adoption curve across India.

The AI Store is designed to align with this shift by simplifying discovery. It explains AI features in practical terms—how devices improve efficiency, personalise usage, and automate everyday tasks—rather than focusing purely on specifications.

This approach also helps address a key challenge in the AI device market: consumer awareness. While many products advertise AI capabilities, users often struggle to understand their real value. By making these benefits clearer, Amazon is attempting to bridge that gap.

The launch comes even as the electronics sector faces rising input costs and supply chain pressures. Despite this, the company is positioning AI as a long-term growth driver, expecting continued demand for smarter, more adaptive devices.

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