Last Week’s Latest:
Mandiant was acquired by Google for USD 5.4 billion, and the company intends to keep the Mandiant brand under its Google Cloud division.
Canadian IT and Cloud solutions provider Converge Technology Solutions has acquired analytics and artificial intelligence company Newcomp Analytics.
Leading cloud-native payments technology company Renovite has entered into an agreement to be acquired by J.P. Morgan.
In order to create chips that researchers can utilise to create new nanotechnology and semiconductor devices, Google and the NIST of the US Department of Commerce have entered into a cooperative research and development agreement.
Manufacturing systems integrator Flexware Innovation has been acquired by Hitachi for an undisclosed sum.
Meta and the startup centre of the Ministry of Electronics and Information Technology have partnered to develop an accelerator programme to aid the expansion of XR technology-based startups across India.
Nxtra, a data centre company operated by Bharti Airtel, will be the country's first to use fuel cell technology.
The first real estate-themed NFT collection in India has been released by Maharashtra-based real estate developer House of Hiranandani, as a tribute to the engineers.
Following the government's grant of the right to provide telecom connectivity, Cisco's Webex India is now the first Over-The-Top (OTT) provider to get a telecom license.
India's first ever High Throughput Satellite (HTS) Internet Service will be introduced by a partnership between Hughes Communication and ISRO.
Focused Story Of The Week #1: Extended Reality, One Of The Drivers For India’s Techade
On 13 September, MeitY Startup Hub and Meta announced the launch of an accelerator program to support and accelerate XR technology startups across India. XR Technology is an emerging technology that includes immersive technologies like AI, VR, mixed reality, and other future realities that may arise.
The global extended reality (XR) market is estimated to reach USD 397.81 billion by 2026 at a CAGR of 57.91 per cent compared to USD 25.84 billion in 2020. XR spending in India alone will exceed USD 6.5 billion by the end of 2022, up from less than USD 2 billion in 2020. XR is a technology with enormous potential, particularly in healthcare, hospitality, retail, and education. As immersive technology advances, new players are boosting their market presence, upgrading their offerings and expanding their presence throughout emerging nations. India happens to be one such nation, that is embracing these trends rapidly.
What remains to be seen, is the effective adoption of these technologies. Policymakers, entrepreneurs, private players among others, must build ecosystems that provide a safe infrastructure and strong incentives to stimulate innovation and wider adoption for XR to thrive responsibly in India. A positive collaboration between these stakeholders will accelerate growth of such emerging technologies at a much faster pace.
“Emerging technologies like XR are going to define the ‘Techade’ and put India on the map as a technology superpower”
Focused Story Of The Week #2: Cloud Native Payment Platforms – Transforming Banking
Financial institutions have started their digital transformation journey to lift and migrate their systems to the cloud, just as millions of people and small companies shifted to cashless transactions at the onset of the coronavirus pandemic in 2020. Financial institutions benefit from a cloud-based payment platform as it can handle surges in usage and payment volumes.
According to the EY Future Consumer index, 62 per cent of consumers will use lesser cash in the future and 59 per cent of consumers will use more contactless payments going forward. For Banks and regulated Fintechs, this is where cloud native payment platforms will play a pivotal role in delivering the infrastructure, apps, and security necessary to keep up with world-class digital payment standards.
In comparison to operating and maintaining expensive and constrained on-premise systems, adopting a cloud native payment platform considerably reduces capital investment. This enables processes to operate as quickly as possible, allowing instantaneous system-to-system connection, real-time insights into payment data, and quicker settlement times.
A cloud-native payment platform's adaptability makes it possible to overcome the limitations of outdated internal IT systems, which reduce operational risk as well.
“Adopting cloud native payment platforms will help banks and financial institutions digitally transform their payments infrastructure, enriching consumer experience.”
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