Indian banks should harness AI to improve internal controls and address customer complaints more effectively, according to central bank governor Sanjay Malhotra.
Malhotra highlighted concerns over rising complaints about mis-selling and aggressive banking practices, warning that the issue could escalate if left unchecked. In the 2023-2024 financial year, 95 commercial banks in India received over 10 million complaints from customers.
AI-powered solutions can help financial institutions analyse large data sets to detect issues such as ATM failures and erroneous charges before they become widespread.
Malhotra also pointed to the potential of AI-driven chatbots and voice recognition tools to assist customers in multiple languages, making banking services more accessible in India’s linguistically diverse market.
Alongside AI adoption, Malhotra urged banks to invest in human capital to enhance customer service and grievance redressal processes.
Strengthening both technology and human resources will be crucial in ensuring financial institutions can meet the needs of a rapidly growing customer base while maintaining trust and transparency.
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Britain should use its strengths in AI to shape how the technology is deployed worldwide, according to DeepMind founder Demis Hassabis.
Hassabis highlighted the country’s leading universities and skilled workforce as key factors in maintaining a competitive edge. Speaking at a Google AI event, he stressed the economic and geopolitical importance of ensuring AI development aligns with ethical and practical standards.
The UK government is working to boost AI innovation, with advanced technology at the centre of discussions between Prime Minister Keir Starmer and US officials.
Google has announced upgrades to its AI offerings in Britain, including expanded UK data residency for its work productivity tool, Google Agentspace. Meanwhile, tech rival Oracle has pledged a $5 billion investment in Britain over the next five years to support growing demand for cloud services.
Hassabis also called for global standards on the use of copyrighted material in AI development, noting the challenges of regulating models used across different countries.
Google’s AI expansion includes the addition of its Chirp 3 audio generation model to Vertex AI, enhancing cloud services with human-like voice capabilities. The UK remains a key player in the AI sector, with industry leaders pushing for policies that ensure responsible and effective deployment of the technology.
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Palmetto, known for its innovative approach to residential solar installations, is now focusing on the broader electrification of US homes using AI.
The company has developed an AI-powered tool that simulates digital twins of homes across the country, which will help determine how technologies like heat pumps and solar panels can be effectively deployed in individual homes.
By using public and private data, Palmetto’s AI can infer critical information about a home, such as insulation types and building materials, to optimise energy efficiency.
As the residential solar market slows, Palmetto has expanded its software to include electrification solutions beyond solar, including backup batteries and heat pumps.
The company has now made its tool available to external developers through an API, allowing them to create new applications that can speed up the electrification process.
Palmetto hopes that developers will build tools that can quickly address the demand for these technologies, which will be essential in the US effort to reduce carbon emissions.
The company’s AI system analyses over 60 characteristics of homes, including details like the construction year and materials used, to make accurate energy efficiency predictions.
However, this tool will also offer developers insights into the growing electrification market. With an API offering 500 free calls per month, Palmetto’s strategy allows for scalable growth while providing key data for the company’s future development.
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Intel’s incoming CEO Lip-Bu Tan is considering major changes to the company’s chip manufacturing and AI strategies to revive the struggling tech giant.
Sources revealed that Tan aims to restructure Intel’s approach to AI and implement staff cuts to streamline operations, focusing on addressing slow-moving middle management.
One of Tan’s core priorities is revamping Intel’s manufacturing operations, which have expanded to include producing semiconductors for external clients like Nvidia.
The changes come as Intel looks to regain its competitive edge after a decade of missed opportunities in smartphone chips and AI processors, allowing competitors such as Arm Holdings and Nvidia to dominate.
At a recent town hall, Tan told employees that the company would need to make ‘tough decisions’ to improve performance. Intel’s shares rose over 8% following his appointment, as investors await further details on his plans.
Tan’s immediate focus includes bolstering Intel Foundry’s performance and attracting new customers in sectors such as AI and robotics.
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Samsung Electronics faces a challenging annual general meeting as shareholders express frustration over its failure to capitalise on the AI boom.
Despite being South Korea’s most valuable company, Samsung’s stock tumbled nearly a third last year, making it one of the worst-performing tech firms.
Executives, including Co-CEO Han Jong-hee, will address concerns over lagging innovation, competition in semiconductor technology, and strategies to counter US tariffs.
Internal discussions at Samsung have revealed concerns about losing its technological edge, particularly in high bandwidth memory (HBM) chips, where it trails rival SK Hynix.
Chairman Jay Y. Lee reportedly criticised the company for focusing on maintaining the status quo rather than driving major innovation.
A stagnation like this has contributed to Samsung losing market share to competitors like TSMC in chip manufacturing and Apple in smartphones.
Adding to its challenges, Samsung has warned of sluggish AI chip sales due to US export restrictions to China, its biggest market. This puts the company at greater risk from potential US tariffs on Chinese trade.
In an attempt to regain investor confidence, Samsung launched a $7.2 billion share buyback plan in November, which has helped its stock recover slightly. However, shareholders remain sceptical about its future growth strategy.
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Several US Commerce Department bureaus have recently prohibited using the Chinese AI model DeepSeek on government-issued devices, according to internal communications and sources familiar with the matter.
A mass email circulated among staff emphasised the importance of safeguarding departmental information systems, instructing employees to refrain from downloading, viewing, or accessing any applications, desktop apps, or websites associated with DeepSeek.
The case reflects escalating apprehensions among US officials and legislators regarding data privacy and the potential exposure of sensitive government information through DeepSeek’s usage.
In February, Representatives Josh Gottheimer and Darin LaHood, House Permanent Select Committee on Intelligence members, introduced legislation to ban DeepSeek on government devices. They also contacted state governors, urging similar prohibitions at the state level. In a letter dated 3 March, the lawmakers cautioned that using DeepSeek could inadvertently share highly sensitive and proprietary information with the Chinese Communist Party, including contracts, documents, and financial records.
Several states, including Virginia, Texas, and New York, have already implemented bans on DeepSeek for government devices. A coalition of 21 state attorneys general has called on Congress to enact comprehensive legislation addressing this issue.
The concerns stem from DeepSeek’s rapid emergence as a low-cost AI model, which has disrupted global equity markets and posed a potential threat to the United States’ leadership in AI.
The US Internal Revenue Service (IRS) is pausing its technology modernisation efforts to evaluate the impact of AI on tax collection and operations, a senior official announced.
The review will include recent initiatives such as the Direct File system, which allows US taxpayers to submit returns for free. AI-driven advancements in customer service and data processing have raised questions about the agency’s long-term strategy.
As the Trump administration prepares for widespread staff reductions in federal agencies, a source familiar with IRS plans indicated that up to a quarter of the agency’s workforce could be cut.
The IRS has not confirmed specific numbers but acknowledged that changes in technology could lead to a realignment of staff. Treasury Secretary Scott Bessent has expressed confidence that AI will improve tax collection efficiency, though no official budget or workforce reduction targets have been set.
The pause reflects shifting priorities in IRS funding, which was originally bolstered by the 2022 Inflation Reduction Act. Republican lawmakers have pushed to reduce the agency’s modernisation budget, arguing that enhanced funding could lead to unnecessary audits.
Despite the pause, the IRS has assured taxpayers that the 2025 filing season will not be affected, with tax returns and refunds continuing as usual.
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Google is intensifying its investment in the UK’s AI sector, with plans to expand its data residency offerings and launch new tools for businesses.
At an event in London, Google’s DeepMind CEO Demis Hassabis and Google Cloud CEO Thomas Kurian unveiled plans to add Agentspace, Google’s platform for AI agents, to the UK’s data residency region.
However, this move will allow enterprises to host their AI agents locally, ensuring full control over their data.
In addition to the data residency expansion, Google announced new incentives for AI startups in the UK, offering up to £280,000 in Google Cloud credits for those participating in its accelerator programme.
These efforts come as part of a broader strategy to encourage businesses to adopt Google’s AI services over those of competitors. The company is also focusing on expanding AI skills training to help businesses better leverage these advanced technologies.
Google’s efforts align with the UK government’s push to strengthen its position in the global AI landscape. The government has been actively working to promote AI development, with a particular focus on building services that reduce reliance on big tech companies.
By bringing its latest AI offerings to the UK, Google is positioning itself as a key player in the country’s AI future.
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Teachers in Stoke-on-Trent gathered for a full-day event to discuss the role of AI in education. Organised by the Good Future Foundation, the session saw more than 40 educators, including Stoke-on-Trent South MP Allison Gardner, explore how AI can enhance teaching and learning. Gardner emphasised the government’s belief that AI represents a ‘generational opportunity’ for education in the UK.
The event highlighted both the promise and the challenges of integrating AI into UK schools. Attendees shared ideas on using AI to improve communication, particularly with families who speak English as an additional language, and to streamline access to school resources through automated chatbots. While the potential benefits are clear, many teachers expressed concerns about the risks associated with new technology.
Daniel Emmerson, executive director of the Good Future Foundation, stressed the importance of supporting educators in understanding and implementing AI. He explained that AI can help prepare students for a future dominated by this technology. Meanwhile, schools like Belgrave St Bartholomew’s Academy are already leading the way in using AI to improve lessons and prepare students for the opportunities AI will bring.
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Thailand has approved investments worth 90.9 billion baht ($2.7 billion) in data centres and cloud services, further boosting its growing tech sector. The newly approved projects include data centres by China’s Beijing Haoyang Cloud&Data Technology, Singapore-based Empyrion Digital, and Thailand’s GSA Data Center 02, according to the country’s investment board.
Among these, Beijing Haoyang plans to build a 300-megawatt data centre valued at 72.7 billion baht, while GSA Data Center 02 is investing 13.5 billion baht in a 35-megawatt facility.
The rapid rise of AI has fuelled demand for data infrastructure across Southeast Asia, making Thailand an attractive hub for investment. In January, TikTok’s parent company, Bytedance, announced plans to establish a data hosting service in Thailand worth 126.8 billion baht.
It follows significant investments from tech giants such as Google, which pledged $1 billion last year, and Amazon Web Services, which committed $5 billion over 15 years.
Microsoft has also revealed plans to open its first regional data centre in Thailand, reinforcing the country’s status as a growing digital hub in the region. With an increasing number of global technology firms choosing Thailand for data operations, the country is set to play a key role in Southeast Asia’s evolving digital economy.
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