Need for a wholistic view to create a robust e-commerce ecosystem
When overregulation stifles a market, it is to the detriment of both the seller and the consumers, said Dr V. V. Gopal. Key Points
FinancialexpressGovt completes first cost of regulation study: DPIIT secretary
At FICCIs 96th Annual General Meeting and Annual Convention, Rajesh Kumar Singh said: “We are talking about a huge amount of 17,000-odd crore of the cost of regulation during that assessment period, which was one and a half years period last year”. The study has been undertaken for all states and union territories in the country but is not in the public domain yet. Key Points
Economic TimesChatGPT creator Sam Altman is in India, says some jobs are going to go away because of AI
ChatGPT's parent company, OpenAI CEO Sam Altman is in India and talked about the possibility of AI taking away human jobs in an interview. He also said that newer jobs will also be created for humans. Key Points
India TodayUS visa fee hike postponed, now likely in April 2024
E-registrations for the annual H-1B cap lottery typically occur in March. The proposed E-registration fee increase, from $10 to $215, aimed to deter misuse of the lottery system. With the delay in publishing the final regulation, the H-1B cap applications for the 2024-25 season are unlikely to be subject to higher fees. Key Points
Economic TimesRBI-Paytm episode shows India is choking innovation in fintech. Bank-driven model must go
We need to move away from the current one-size-fits-all framework to a risk-based approach. Until then, every fintech will be saddled by some regulation it is potentially violating. Key Points
ThePrint/cloudfront-us-east-2.images.arcpublishing.com/reuters/H5SL4WYSRZNLBITBH2VZELUPM4.jpg)
US, Britain, other countries ink agreement to make AI 'secure by design'
The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are "secure by design." Key Points
ReutersGovt says deepfake regulation coming soon, considering penalty for content creators, social media
After discussing with industry leaders, IT Minister Ashwini Vaishnaw has promised actionable plan in about 10 days. Says companies agree with govt view that deepfakes aren't 'free speech'. Key Points
ThePrintRBI Deputy Guv pitches for an institute to train regulators across sectors
Reserve Bank Deputy Governor M Rajeshwar Rao has advocated the establishment of a specialized institute aimed at educating regulators from various sectors. Rao emphasized that effective regulation necessitates a forward-looking approach and meticulous drafting, akin to the finesse of an art form. He underscored the importance of concentrating efforts on training and enhancing the skills of regulatory professionals. Key Points
Economic TimesMindful movements: Teaching children emotional regulation through yoga practices
Discover the transformative power of yoga in teaching children emotional regulation. Explore effective techniques and empower their emotional well-being. | Health Key Points
Hindustan TimesIBM will replace 7800 jobs with AI, mostly back office and HR roles: Story in 5 points
IBM has around 26,000 workers. Therefore, nearly 7,800 jobs could be replaced by AI in the coming years. Key Points
India Today
Exclusive | New AI law to secure rights of news publishers: Ashwini Vaishnaw
Global AI regulation discussions intensify as companies seek fair compensation for AI data training from publishers. EU leads with strict guidelines under AI Act. OpenAI claims fair use, NYT advocates for accountability in copyright law. Key Points
Economic TimesPlan to amend lottery rules was junked after lobbying by companies
Union home ministry faced opposition from market players like Future Gaming after proposing Lotteries regulation Act amendment following CAG reports. Violations found in Sikkim, Mizoram, Nagaland. Ministry reviewing revenue receivables linking to sales turnover. Key Points
Economic TimesSebi's dilemma: There exists a fine line between finfluencing and free speech
It is lawful to offer a public opinion on investing, just as it’s okay for a brand endorser to hawk products on TV. Recipients of advice must exercise judgement. Key Points
mintRBI appoints Manoranjan Mishra as new Executive Director
Manoranjan Mishra has been appointed as Executive Director by the Reserve Bank of India (RBI). In his role as Executive Director, Mishra will oversee the Enforcement Department, Risk Monitoring Department, and Department of External Investments & Operations. Key Points
Economic TimesAI-generated fake Pentagon explosion sends stock market & social media spiraling
Fake explosion near Pentagon causes social media uproar & stock market frenzy. False report circulated on May 22 by a fake "Bloomberg Feed" account. | World News Key Points
Hindustan Times
Solve the horizon problem: Don’t let Big Tech escape regulation
The short-term focus of governance as usual tends to result in tighter rules for finance than technology. This suits Big Tech but is not in our long-term interest. Key Points
mintThe great AI debate: Open-source vs proprietary models in global showdown
The development and regulation of AI technologies, such as chatbots, GPTs, and search engines, are causing concern and debate. Geopolitical tensions arise as open-source AI models from China compete with proprietary models from the US and EU. Data privacy laws, consumer data protection, and standardized definitions and regulations for AI are seen as essential. Key Points
Economic TimesIndia to flag concerns over EU's carbon tax, deforestation regulation in WTO meet next year
Developing countries like India will voice concerns over the impact of the EU's climate change and trade regulations, such as the carbon border adjustment mechanism (CBAM), on their domestic industry during the WTO ministerial meeting in 2022. India will oppose these measures in the WTO as they affect industries such as iron, steel and aluminium. EU-regulations such as deforestation regulation, shipping, and foreign subsidies regulation are also raising concerns. Key Points
Economic TimesIndia's exports to EU worth USD 1.3 bn to be impacted by EU's deforestation regulation: GTRI report
The Global Trade Research Initiative (GTRI) said that the EU-DR appears to prioritise protecting its own agricultural sector and promoting exports, making imports more difficult as it is a trade barrier disguised as a green measure. The regulation covers cattle, buffalo, the meat of bovine animals, preparations, Oil cake, soya beans, palm oil, cocoa bean, powder, chocolate, coffee, leather hide, skin, paper, paperboard, wood, wood articles, wood pulp, boards and wood furniture. Key Points
Economic TimesArtificial Intelligence shares, robust funding, appetite for regulation are hints it is booming: Report
New Delhi [India], September 15 (ANI): Artificial Intelligence as a technology in its current form is largely task-oriented and typically not capable of dealing with a situation where logic and reasoning are needed. But it is here to stay and it has of late become the talk of the town. Generative AI, also referred to […] Key Points
ThePrint
Exporters seek separate division for non-trade issues, faster customs clearance
Exporters requested the establishment of a distinct division within the Commerce and Industry Ministry to address non-trade barriers, particularly those related to environment and sustainability. During their discussion with Union Minister Piyush Goyal, they also highlighted concerns about Chinese goods entering India via the ASEAN free trade agreement. Key Points
Economic TimesBroadcasters want OTT to be kept outside broadcast bill's purview
The Indian Broadcasting and Digital Foundation (IBDF) has requested the Ministry of Information and Broadcasting (MIB) to exclude OTT platforms from the Broadcasting Services regulation Bill 2023. The IBDF argued that treating linear TV and OTT platforms equally would constitute 'reverse discrimination' and violate Article 14 of the constitution. The draft bill aims to broaden the scope of broadcasting to include both broadcast content and distribution systems, including OTT. Key Points
Economic TimesBroadcasting Bill may lead to regulatory issues: Disney Star chief
The broadcast sector has faced challenges since late 2022 that can be attributed to global macroeconomic factors like inflation and supply chain disruptions. Some traditional advertisers, such as startups, auto companies, and online betting platforms, reduced TV advertising, creating a temporary gap. However, during the current festive season, early signs of recovery are evident compared to last year, says K Madhavan, president of IBDF and Disney Star chief. Key Points
Economic TimesBanks want boards kept out of loan renewals in 'related party' cases
Lenders want the regulator to tweak the age-old rule. We have told the Reserve Bank of India (RBI) to modify the regulation so bank boards are not involved in proposals on renewal of loans when there is a 'related party' issue, a senior banker told ET. Key Points
Economic TimesWe hope to launch the 11-month contracts by January: Rohit Bajaj, IEX
“Last year was flat. This year we are expecting more than 15% increase in volume on an overall or annual basis. H1 was already 12% up; in Q2, particularly October, it was more than 20% up, and we hope that this trend will continue. We are working to ensure that this trend will continue for the coming months also.” Key Points
Economic Times
New Bill seeks to consolidate self-regulation in broadcast sector, extends to OTT, digital media
Broadcasting Services (Regulation) Bill, 2023 seeks to replace Cable Television Networks regulation Act of 1995. The government on Friday unveiled a Bill that seeks to consolidate the regulatory framework for broadcasting services, including Over-The-Top (OTT) and digital media content. Key Points
The Tribune IndiaWorld Powers Say They Want to Contain AI. They’re Also Racing to Advance It
The US, China, and others signed a declaration coordinated by the UK warning AI could be “catastrophic.” Yet none seem to be suggesting development of the technology should slow down. Key Points
WIREDEvery technological revolution leads to job change, but there will be newer, better jobs: Sam Altman
Talking about ChatGPT and other AI platforms, OpenAI CEO Sam Altman said, “Every tech revolution leads to job change. This is no exception. Some jobs will go away but there will be newer, better jobs”. Altman further said, “The world will get way wea Key Points
Times Of IndiaDon’t kill the golden goose
India represents one of the fastest-growing OTTs/CAPs markets in the world, thanks to the facilitating nature of policy and regulation. This vibrant sector must not be stifled with network usage fees. Key Points
Financialexpress