Editorial     

Don’t shoot the AI ‘messenger’

Artificial Intelligence — which is the replication of human intelligence functions by machines, particularly computer systems — is evolving at a fast pace, bringing what many previously thought of as fictional experiences into the real world. This revolutionary feat of computer science is all set to become a core component of all modern software over the coming years and decades. Though this presents a lot of opportunities, it also poses serious threats.

During the last two decades or so, the internet in general and Artificial Intelligence — or AI — in particular has become a multi-dimensional space with videos, photos, texts and community participation. While technological developments like AI have empowered people, they have also led to challenges such as cyber stalking, misinformation, fake news, cyber fraud, security concerns, job losses and safety issues for women and children.

Realising the drawbacks of Artificial Intelligence, several governments across the globe have started thinking of taking steps to minimize the adverse effects of the latest technology. Recently, the European Parliament passed a draft law known as the AI Act in order to regulate the uses of the technology. The law would severely curtail uses of facial recognition software while requiring makers of AI systems like the GPTChatbot to disclose more about the data used to create their programmes.

The Indian government has also woken up to the dangers of the new technology. With a view to addressing these new challenges, New Delhi is drafting the Digital India Act (DIA) which will serve as a comprehensive framework encompassing various areas, including the regulation of intermediaries, addressing other digital crimes like misinformation, establishing guidelines for the safety of women and children online, and enabling enhanced regulatory oversight for objectional content on over-the-top (OTT) service platforms. The Act will regulate emerging technologies like AI and Multiverse. It will address regulatory concerns and tackle cyber trolling and gaslighting, among others. The goal is to establish a dynamic framework that governs emerging technologies.

The times are moving at breakneck speed and we are stepping into a period of generational change with the new wave of generative AI systems transforming entire industries. Given the widespread use of AI in critical fields like healthcare, agriculture, education, banking and aviation, it will be subject to security oversight under the DIA. Risks like automation-spurred job losses, algorithmic biases, alignment problems, copyright issues, socio-economic inequality, threatening academic integrity, etc., will need to be addressed.

In order to mitigate these concerns, Artificial Intelligence regulation has become the central focus in several countries, with the US and the European Union taking the lead in building regulations to manage the spread of AI.

Undoubtedly, the adverse effects of AI should be curbed but while drafting regulations it should be ensured that these should not curb innovation. Artificial Intelligence is after all a revolutionary feat of computer science which was beyond human imagination till now. It is a unique technology that can improve on past iterations and become smarter and more aware, allowing it to improve its capabilities and knowledge. AI machines will be able to perform cognitive functions like learning, planning, reasoning, decision-making and problem-solving. In short, AI is machine simulation of human intelligence and it could solve major real world challenges. Hence, it should be handled with utmost care. Laws to restrict a momentous technology like Artificial Intelligence should not be entrusted to politicians or bureaucrats. The DIA, ideally framed by enlightened experts, should be a watershed moment for the country, and should catalyse our digital ambitions and govern the transformation of the online ecosystem in India.

written by

Deven Malkan

Cover story     

Artificial Intelligence - Boon or Bane?

No more a subject of scientific speculation, Artificial Intelligence is new, well and truly in our midst as a technology with a mind-boggling variety of functions and uses, with serious implications that are positive or negative for humankind.

Corporate Grapevine         

Dalmia getting Ready for ‘cement’ war

Dalmia Bharat shares are on fire after former Infosys CFO Rajiv Bansal joined as Senior Executive Director to perform as Chief Transformation Officer. Managing Director Mr. Puneet Dalmia would like Mr. bansal to strengthen gials and devise strategies as well as formulating and implementing newer initiatives in order to recast the 80-year old group as a modern cement giant. With access to the latest technology and new markets.

Why foreign honchos love Indian monsoon!

Almost all top CEOs based overseas are keeping an eye on the Indian monsoon. Whether it is the CEO of Maruti Suzuki in Tokyo or the top honcho of Unilever in London or the PepsiCo CEO in the US, the Indian monsoon is now playing an important role in their business projections as their Indian operations have become quite big. At the end of the year, the bonus of these CEOs will depend on whether the Indian monsoon does a command performance and leads to higher sales.

Adani comeback is windfall for LIC

After the disastrous Hindenburg Research report, which had administered a body blow to the Ahmedabad-based Adanis, the group’s shares are seeing a spectacular comeback. And interestingly, the biggest gainers are LIC and GQG Investments of the US which bet on Adani shares at the ‘right’ price.

VI-BSNL merger can break telecom duopoly

The government is considering a plan to merge Vodafone Idea, in which it holds a 33 per cent stake, and BSNL. The merged entity will be the third biggest player in the market. It’s quite obvious that both Vodafone plc and the Birla group don’t want to invest any more in the loss- making company. Vodafone Idea has even asked lenders to take a huge haircut.

Jayckieed’s Column     

Smorgasbord of speciality chem

Incorporated in 1987, Himadri Speciality Chemicals Ltd is an undistputed market leader and a prominent player in multiple speciality carbon product segments like Coal Tar Pitch, Carbon Black, Naphthalene and Refined Naphthalene, SNF and Specialty Oils.

Fortune Scrip     

‘Darling’ of marquee investors:
‘Wisely’ is its business trump card

For this fortnight, we have selected a unique information technology company which is a leading player in cloud communications. It is Tanla Platforms, formerly known as Tanla Solutions. The Hyderabad-headquartered company is promoted by Dasari Uday Kumar Reddy, who is its Chairman and CEO. Tanla was originally started in 1999 as a bulk SMS provider mainly catering to SMEs.

Portfolio Choice         

Better margins than power peers - VOLTAMP TRANSFORMERS

Vadodara (Gujarat)-based Voltamp Transformers is a key player in the transformer manufacturing space with a 15 per cent domestic marketshare. The company has two modern well-equipped manufacturing facilities located at Makarpura and at Vadadia village in Savli taluk of the district.

Riding Japanese parent’s R&D - SUMITOMO CHEMICAL INDIA

Mumbai-headquartered Sumitomo Chemical India, the Indian outfit of the giant Japanese multinational Sumitomo group, is primarily engaged in the manufacture and import of products for crop protection, grain, fumigation, rodent control, bio- pesticides, environmental health, professional pest control and feed additives for use in India.

Formidable player in digi-tech - KELTRON TECH SOLUTIONS

Incorporated in 1993 as VMF Soft Tech, Hyderabad-headquartered Keltron Tech Solutions is a CMMI level 5 and ISO 9001:2015 certified global leader in digital transformation, propelling businesses into their future by transforming the way they operate.

Corporate Feature         

Riding expertise in telecom towers: Scorecard: 50,000 telecom towers

The New Delhi-based, home-grown Salasar Techno Engineering (STEL) is going from strength to strength. The company was established in 2006 to manufacture telecom towers and then aspired to emerge as a one-stop solution for India’s infrastructure sector by taking up the manufacture of customized, large and heavy steel structures and providing EPC solutions to a diverse range of industries.

All growth indices up in FY 2023

New Delhi-headquartered Hi-tech Steel Pipes, a leading steel processing company which makes world-class innovative products with a strong presence in steel pipes, hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures and a variety of other galvanized products, has put up a heartwarming performance for Q4 FY2023 and fiscal 2023 with revenue from operations rising by 27 per cent to Rs 2,385.85 crore for the fiscal year.

Moving on growth path: On a debt-erasing mission

New Delhi-headquartered Vikas Ecotech, engaged in the business of speciality polymers, speciality additives and speciality chemicals for the plastics and rubber industries — which cater to a wide range of packaging, electrical, footwear, pharmaceuticals, automotive, medical services and other consumer goods — is on the growth path.

Special Report     

All set to hit its first century by 2030

Since its inception over three decades ago, the Pride hotel group has gone from strength to strength and now boasts of 56 top-of-the-line hotel assets across the country. The group’s driving force, chartered accountant-turned-entrepreneur S.P. Jain, is determined to see is turnover cross the Rs 500-crore mark in the next three years and the group’s properties cross the ‘century’ mark by 2030.

April 15, 2025 - First Issue

Industry Review

VOL XVI - 13
April 01-15, 2025

Formerly Fortune India Managing Editor Deven Malkan Assistant Editor A.K. Batha President Bhupendra Shah Circulation Executive Warren Sequeira Art Director Prakash S. Acharekar Graphic Designer Madhukar Thakur Investment Analysis CI Research Bureau Anvicon Research DD Research Bureau Manager (Special Projects) Bhagwan Bhosale Editorial Associates New Delhi Ranjana Arora Bureau Chief Kolkata Anirbahn Chawdhory Gujarat Pranav Brahmbhatt Bureau Cheif Mobile: 098251-49108 Bangalore Jaya Padmanabhan Bureau Chief Chennai S Gururajan Bureau Chief (Tamil Nadu) Ludhiana Ajitkumar Vijh Bhubaneshwar Braja Bandhu Behera

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