For 2 years in a row, Army inked 100% contracts with indigenous firms under capital procurements
All contracts that materialised in FY 2023-24 & 2022-23 were with Indian public, private vendors. Army is looking at indigenising sustenance of weapon systems which includes spares & munition. Key Points
ThePrint‘Viksit Bharat’ will face many threats on a 2047 battlefield. Warfare has diversified into new domains
Given the complexities of the challenge, it is not the Armed Forces alone but all organs of the government that must dwell on these issues. Technologies and doctrines must develop concurrently. Key Points
ThePrintDefence Ministry inks Rs 39,000 crore deals; L&T bags record contract
The defence ministry signed acquisition contracts worth Rs 39,125 crore including the largest military deal for an Indian private sector company, L&T. The contracts included upgraded fighter jet engines, supersonic cruise missiles, close-in weapon systems, high-power radars, and ship-borne Brahmos systems. Deliveries to start in the next two to three years, generating employment and involving micro, small & medium enterprises. Key Points
Economic TimesAn AI failure database can help foster innovation safety
Experimental technologies thrive on a 'culture of failure' as that’s how we learn from mistakes. We can mitigate AI risks by recording and analyzing mishaps. This is how aviation grew safer. Key Points
mintRBI permits banks to issue pre-paid instruments for payments across public transport systems
Mumbai, Feb 23 (PTI) Reserve Bank of India (RBI) on Friday permitted banks and non-banking institutions to issue pre-paid instruments for making payments across various public transport systems. With the introduction of these instruments, commuters will have more options to pay for tickets besides cash mode. The instruments will provide convenience, speed, affordability and safety […] Key Points
ThePrint
India's Su-30MKI fighter jets set for Rs 60,000 crore upgrade with big private sector participation; check details here
India Business News: India's Su-30MKI fighter jet fleet is set to undergo a comprehensive upgrade, including new radars, a mission control system, electronic warfare capabilities, and integration of new weapon systems. Read more about the Rs 60,000 crore upgrade and the involvement of the private sector. Key Points
Times Of India₹60,000-crore Sukhoi fighter upgrade begins, to involve private sector in big way
The mainstay Su 30MKI fighter jet fleet is set to undergo a comprehensive upgrade worth ₹60,000 crore. The upgrade will include new radars, mission control systems, electronic warfare capabilities, and integration of new weapon systems. Hindustan Aeronautics Limited, with support from DRDO, will lead the upgrade with heavy participation from the private sector. Key Points
Economic TimesChange with the times: NSC Committee suggests overhaul of statistics infra
The panel submitted a report to the NSC, which will suggest the way to take the process forward to the statistics and programme implementation ministry, they said. The move come after the ministry suggested leveraging big data analytics, artificial intelligence and machine learning in its revised draft of national policy on official statistics in August. Key Points
Economic TimesValeo expects regulatory boost to ADAS
Jayakumar G., president and managing director of Valeo India, said by 2026-27, driver monitoring system and autonomous braking are expected to come under regulation, which could accelerate widespread adoption of additional ADAS technologies, which are currently limited to high-end vehicles. Key Points
mintAI tools like Dall-e, Midjourney can create pornographic images despite safety filters, new study reveals
AI tools like Dall-e, Midjourney can create explicit images despite safety filters, a new study reveals. Researchers have discovered a vulnerability in these AI systems that allows the generation of inappropriate content using an algorithm called SneakyPrompt. Key Points
India TodayIndia's Infosys says US unit hit by cyber security event
BENGALURU (Reuters) - Indian IT service provider Infosys said on Friday its U.S. unit, Infosys McCamish Systems, was impacted by a cyber security event, resulting in the non-availability of certain Key Points
ThePrintIndian Army orders Rs 7,300 cr emergency buy from desi companies to counter China
A range of equipment was ordered mainly from the private sector. They include drone and counter drone systems, armaments, simulators, communication systems and vehicles, according to people in the defence establishment. Key Points
Economic TimesThe AI-Powered, Totally Autonomous Future of War Is Here
Ships without crews. Self-directed drone swarms. How a US Navy task force is using off-the-shelf robotics and artificial intelligence to prepare for the next age of conflict. Key Points
WIREDBusiness and Labor Square Off Over AI’s Future in American Workplace
ChatGPT investigation by FTC could be test of U.S. authority to regulate AI Key Points
mintPSSL Q4 Results, Company Awestruck Investors with Impressive Results
With its sights set on expansion in Mauritius, Pressure Sensitive systems India Ltd. envisions replicating the success it has achieved in Dubai. Key Points
Hindustan Times
PSSL Q4 Results, Reports Profit 38 Cr, PE Ratio at near 4, Company Awestruck Investors with Impressive Results
With its sights set on expansion in Mauritius, Pressure Sensitive systems India Ltd. envisions replicating the success it has achieved in Dubai. The company's vision aligns with its previous accomplishments, having successfully completed orders worth 85 crores Key Points
mintGrappling with AI: How govts plan to deal with revolutionary tools like ChatGPT and Bard
The potential and consequences of generative artificial intelligence has drawn the attention of policymakers across jurisdictions, who have stepped up regulatory scrutiny of these tools. G7 has committed to 'risk-based' regulation; EU's AI Act is on the way. Key Points
The Indian ExpressUS begins study of possible rules to regulate AI like ChatGPT
ChatGPT, an AI program that recently grabbed the public's attention for its ability to write answers quickly to a wide range of queries, in particular has attracted U.S. lawmakers' attention as it has grown to be the fastest-growing consumer application in history with more than 100 million monthly active users. Key Points
The Indian ExpressWe asked ChatGPT if it can harm humans, the tool revealed list of harmful effects
As there is a lot of concern that AI systems could be designed or misused to cause harm to society, we directly asked the same to ChatGPT if this is true. Following this, the AI tool listed a few harmful effects that the latest technology could have on humans. Key Points
India TodayExicom Tele systems IPO fully subscribed within hours of opening; retail portion booked 5.8x; check GMP, other details
Exicom Tele-Systems IPO opened for subscription on February 27 and will close on February 29. The IPO price band has been fixed at ₹135 to ₹142 per share. Investors can bid for a minimum of 100 equity shares and its multiples thereafter. Key Points
mint
Exicom Tele-Systems IPO: From price band to GMP - here are 10 things to know before subscribing to issue
The company's objective is to raise ₹429 crore from its initial offer, with ₹329 crore targeted through the issuance of fresh shares. The remaining ₹100 crore is allocated for Offer for Sale (OFS). Key Points
mintIAF's Sukhoi fighter jets to get a Rs 60,000 crore booster: Here are all the upgrades for the new Su-30MKI
The Defence Ministry has approved a Rs 60,000 crore upgrade of India's Su-30MKI fighter jet fleet, led by HAL and supported by DRDO. This project aims to enhance the aircraft's capabilities with new radars, mission control systems, and weapon systems, reflecting India's push for self-reliance in defence manufacturing. The upgrade will include the integration of indigenous systems, such as a new radar system and electronic warfare capabilities, improving air-to-air and air-to-ground targeting. Key Points
Economic TimesAIIMS Delhi hit by a new malware attack, second instance in less than a year
AIIMS Delhi was again attacked by a malware, possibly of Chinese origin, earlier this week. It was the second instance in under a year, when AIIMS was subjected a cyber attack. The cyber security systems deployed were able to thwart and neutralise the attack Key Points
FirstpostDivgi TorqTransfer systems IPO allotment: How to check on BSE and registrar’s website
Investors can check the allotment of shares via the Bombay Stock Exchange or by visiting the IPO registrar’s website. Here's all you need to know. Key Points
India TodayDrone Swarms Are About to Change the Balance of Military Power
On today’s battlefields, drones are a manageable threat. When hundreds of them can be harnessed to AI technology, they will become a tool of conquest. Key Points
mint
ED officials say no proof on Naidu yet as agency freezes Rs 23.54-cr assets in AP skill development scam
Assets attached linked to Siemens Industry Software (India) & DesignTech systems executives. CM Chandrababu Naidu was arrested by CID in connection with the scam & granted bail last yr. Key Points
ThePrintGodfather of AI feels tech giants controlling AI is a problem, says rules should not be written by companies
In a recent interview, Godfather of AI Yoshua Bengio talked about how AI is being controlled by a selected few tech giants and that is not a good thing. He said that we are building powerful systems as time passes and it poses a central question- who controls these systems. Key Points
India TodayZF Commercial Vehicle Q4 results: Net profit climbs 78% YoY to ₹102 Cr, Board declares ₹13 per share dividend
ZF Commercial Vehicle Control systems India is a large cap consumer discretionary company that recorded a market cap of ₹20,115.03 Cr during Thursday's closing session. Key Points
mintAI Giants Pledge to Allow External Probes of Their Algorithms, Under a New White House Pact
Leading AI developers including Google and OpenAI promised the Biden administration to check for problems such as biased output. The agreement is not legally binding. Key Points
WIREDExicom Tele-Systems IPO allotment to be finalised today; latest GMP, steps to check Exicom IPO allotment status
Exicom Tele-Systems IPO allotment completed on March 1. Investors can verify status on Link Intime India Private Ltd portal. Subscription rate was 129.54 times, with retail portion at 119.59 times. Refund process for non-allotted applicants begins on March 4. Listing date scheduled for March 5. Key Points
mint
Technical glitch hits IndiGo operations
IndiGo operations were affected across the country on Saturday due to a technical glitch in its systems. The glitch led to slower check-ins and massive queues at airports. The airline said it was working to resolve the issue at the earliest. “We are currently experiencing a temporary system slowdown across our network, affecting our website and booking system. As a result, customers may face increased wait time, including slower check-ins and longer queues at airports,” the airline said. In another statement issued later, IndiGo said, “Our airport systems are up and running, and our airport services have eased out...” Key Points
The TribuneApplying for PM Surya Ghar Muft Bijli Yojana: Postal department starts registrations for solar rooftop sch
PM Surya Ghar Muft Bijli Yojana update: The Department of Posts has started a registration campaign for the PM Surya Ghar: Muft Bijli Yojana. Postmen will assist households in registration. Key Points
Economic TimesPowering the Future: The Silent Revolution Behind Electric Vehicles
The evolution of electrical and electronic architectures in electric vehicles (EVs) is at the heart of the transformation from internal combustion engines (ICEs) to EVs. The EV market is growing rapidly, with predictions of sales increasing up to six times by 2030. The intricate network of electronic control units, power electronics, and electrical and electronic architectures is the game changer in EV technology. Key Points
Economic TimesExicom Tele-Systems IPO: Should you subscribe to this Rs 429-crore offer?
The IPO is a combination of fresh equity issue worth Rs 329 crore and an offer for sale of 70.42 lakh shares. Ahead of the issue opening, the company mopped up about Rs 178 crore from anchor investors. Key Points
Economic TimesInstallation of rooftop solar units now easier & quicker
The government has amended the electricity rules to exempt households from a technical feasibility study for power systems up to 10 kW capacity. Consumers can obtain separate electricity connections for charging electric vehicles. The time frame for obtaining a new electricity connection has been reduced. An additional meter will be installed for verifying consumption and ensuring accuracy in billing. Key Points
Economic Times
Rolls-Royce extends contract with TVS SCS for five years
India Business News: TVS Supply Chain Solutions (TVS SCS) announced that its contract with Rolls-Royce has been extended for five years until 2029. The partnership extension is for the parts distribution centre (PDC) in Singapore serving the Asia Pacific markets for Rolls-Royce’s power systems business unit. Key Points
Times Of IndiaParker Hannifin lifts profit view after aviation parts demand booms
Motion and control technologies manufacturer Parker Hannifin (PH.N) raised its full-year profit forecast on Thursday, after sales of its aerospace systems almost doubled in the first quarter. Key Points
ReutersCutting-edge AI raises fears about risks to humanity. Are tech and political leaders doing enough?
Everyone from the British government to top researchers and major AI companies are raising the alarm about frontier AI’s as-yet-unknown dangers and calling for safeguards to protect people from its existential threats. Chatbots like ChatGPT wowed the world with their ability to write speeches, plan vacations or hold conversations as good as or arguably even better than humans do, thanks to cutting-edge Artificial Intelligence (AI) systems. Now, frontier AI has become the latest buzzword as concerns grow that the e Key Points
The Tribune IndiaRailways taking measures to ensure security of passengers: Railway Minister
Indian Railways is taking all measures to ensure the safety and security of passengers. For this purpose, CCTV systems have been installed at 866 railway stations, Railway Minister, Ashwini Vaishnaw said on Wednesday. Key Points
The Tribune IndiaOpenAI may leave the EU if regulations bite – CEO
The EU is working on what could be the first set of rules globally to govern AI. As part of the draft, companies deploying generative AI tools, such as ChatGPT, will have to disclose any copyrighted material used to develop their systems. Key Points
The Indian Express
Biden administration seeks input on AI safety measures
The U.S. Commerce Department on Tuesday said it will spend the next 60 days fielding opinions on the measures that could ease consumer concerns about these new systems. Key Points
The Indian ExpressHow Not to Be Stupid About AI, With Yann LeCun
It’ll take over the world. It won’t subjugate humans. For Meta’s chief AI scientist, both things are true. Key Points
WIREDHow Not to Be Stupid About AI, With Yann LeCun
It’ll take over the world. It won’t subjugate humans. For Meta’s chief AI scientist, both things are true. Key Points
WIREDHow Not to Be Stupid About AI, With Yann LeCun
It’ll take over the world. It won’t subjugate humans. For Meta’s chief AI scientist, both things are true. Key Points
WIRED