Demonetisation anniversary: Note ban well accepted now as a political success; it may well be an economic triumph too, says Surjit Bhalla
Today is the first anniversary of an unprecedented and bold political and economic experiment—demonetisation (DM). Nobel laureates are cited to suggest that this was an uncalled for, unneeded, and unnecessary experiment—one with magnificent costs and precious little benefits. Most economists, left and right, have argued that DM was a costly, and ineffective, exercise. Given this convergence, some have declared that there is no debate on the efficacy of DM—an economic version of “Jab miya bibi raazi to kya karega kazi.”
On Artificial Intelligence, Satya Nadella says grab the opportunities, forget the threats
In Hyderabad, Microsoft CEO Satya Nadella says, handloom weavers are using artificial intelligence (AI) to raise productivity. The master weaver, Nadella explains, is in short supply, so a bot designed by Microsoft — it’s called Ruuh, or soul — creates designs that are used by weavers to create new designs/patterns. Nadella was giving this example in the context of whether AI will kill jobs (the Elon Musk view) or whether it would enhance capabilities of people and so create new jobs.
Narendra Modi government makes it tougher for promoters to manipulate insolvency process; here is how
In what would make it tougher for unscrupulous elements, including promoters, to manipulate the insolvency resolution process of a stressed firm, the government on Tuesday amended the Corporate Insolvency Resolution Process Regulations, providing for more stringent scrutiny of resolution applicants before their plan is considered by the committee of creditors. The amendment is aimed at ensuring that “as part of due diligence, prior to the approval of a resolution plan, the antecedents, creditworthiness and credibility of a resolution applicant, including of promoters, are taken into account by the committee of creditors”, the Insolvency and Bankruptcy Board of India (IBBI) said on Tuesday.
How to invest in mutual funds profitably: 5 point strategy for boom times
Equity mutual funds have seen positive inflows since 2014 and surged after demonetisation as retail investors switched from physical to financial savings. Investors are increasingly shifting savings from cash and term deposits to systematic investment plans (SIPs) of mutual funds and even lump sum investments. Equity mutual fund schemes, that account for one-third of total assets under management of fund houses, have observed a growth rate of 40% since FY14.
Ola, Microsoft get together, deploy AI tools; how it will change your ride
App-based cab aggregator Ola has partnered with Microsoft to build a new connected-vehicle platform for car manufacturers worldwide. While Microsoft’s Azure (its cloud platform) will power the company’s existing connected car platform, Ola Play, Ola will also leverage Microsoft’s Artificial Intelligence (AI) and other productivity tools like office 365 to transform passenger experience. Both firms will collaborate to take this platform to car makers globally, to integrate with vehicle systems, Ola said in a statement. Ola Play will also leverage Microsoft AI and IoT to enhance driver experiences with telematics and navigation guidance; passenger experiences with cloud-based infotainment and productivity; and provide auto manufacturers with custom digital experiences for their customers.
Infosys chief Nandan Nilekani reveals what is set to emerge as next frontier between countries
Infosys chairman Nandan Nilekani believes that data will emerge as the next frontier for trade negotiations between countries as there will be many issues to be resolved. Addressing a summit, ‘Unlocking US-India trade potential’, on Tuesday, Nilekani said that discussion on cross-border trade on data will centre around issues like security, privacy and monetisation. The advent of smartphones has created huge volumes of data and the growth in sensors or the Internet of Things is only expected to multiply the creation of data. “There will be issues on where data is located and how do we look at it,” he remarked. In the past, Nilekani had called for data democracy in the country, enabling users to access all online information by enabling new policies to address the challenges of data colonisation and privacy.