#indianchamberofcommerce

AI has become a powerful tool for media houses when it comes to news. Empowered by ML based recommender systems, news and media outlets can fast check and cross verify large amounts of data in real time. This is thousand times the speed of a human. AI has empowered media houses with the generation of large amounts of data and accurate digital storytelling.  AI enabled data labelling and data annotation are going to make news posts reliable, easily retrievable and deployable for any future use. Completely automated book publishing is already underway and tech smart tools enabled publishing houses are going to play a critical role in future. Pattern recognition, speech to text synthesis and vice versa, content synthesis , sign language production enabled text and image description plus automatic subtitling are slowly but slowly revolutionising visual arts , movie industry and audio visual components for media houses.

However, the same tools which make AI enabled media praiseworthy raise some concerns:

· They can be used to serve misinformation

· They can be used to plagiarise original information and sometimes give inappropriate information

· They can be used to generate deepfakes

· Statistical Language Processing give 50% accuracy and 50% errors which is very high error .

Central Bank Digital Currency (CBDC) is a digital form of currency note issued by Central Banks of different countries . It is a form of digital bank money that can be distinguished from reserves or settlement balances held by commercial banks with  RBI. It is a RBI liability, denominated in an existing unit of account, which serves both as a medium of exchange and  a store of value. Like cryptocurrencies, a CBDC exists only in a digital form such as file or a token, but unlike them, it is backed, controlled and maintained by the authority of RBI. Digital currency offers significant advantages, in the areas of financial inclusion and cross border payments, in addition to benefits such as smoother transactions and reduced costs compared to cost of managing physical cash. The RBI started its e-rupee pilot in December 2022 but transactions averaged only 25,000 a day by the end of October 2023, even though its use case was significantly broadened by linking it to the popular United Payments Interface (UPI),  However, from December 2023,  some large private and state-run banks  started increasing the use of CBDC, particularly for employee benefit schemes.  As a result transactions topped 1 million per day. Also, the user base has been steadily growing to about 4 million users currently, up from 3 million, 2 months ago .

Programmability is the most powerful feature of CBDC. This capability can be used to ensure that digital cash is issued as a targeted subsidy (say for fertilisers) and remain fixed for that purpose. The Reserve Bank of India prefers a centrally-controlled, conventional database infrastructures for CBDC  instead of DLT (distributed ledger technology)-based infrastructure due to the latter’s limitations. While both conventional and DLT-based infrastructures store data multiple times and in separate physical locations, the key difference is in how data is updated. In conventional databases, data is stored over multiple physical nodes, controlled by one authoritative central entity, which ensures better control . On the other hand, in DLT-based systems, the ledger is usually managed jointly by multiple entities in a decentralised manner and each update needs to be harmonised amongst the nodes of all entities. This consensus mechanism requires additional overhead owing to which DLTs enable lower volumes of transactions. Given the fact CBDC is yet to scale up and sustain the bigger scale, centralised databases make sense as of date. It may also be possible that some layers of the CBDC technology stack be on the centralised system and remaining be on distributed networks. The choice of technology architecture for CBDC will need to consider the resource intensiveness, energy efficiency, cyber security, technical stability and resilience, business continuity planning, and good  technical governance.

Union Government is working on setting up the 16th Finance Commission over the next few weeks and is finalising  the terms of reference at a time when several states are facing financial difficulties and the Centre is worried over the impact of several  freebies announced across the country without thinking about  the fiscal situation . The Election Commission had once asked the political parties their opinion on standardisation of ‘financial implications of promises to be made in future election manifestos’ and ‘ways of financing them within the available financial space’ and ‘the effect thereof on the fiscal sustainability’. However, the Supreme Court has rightly observed that ‘all promises cannot be equated with freebies …Not only are these a part of the Directive Principles of State Policy, but also are a responsibility of the welfare state.’ Till date there  are various definitions  of what the term ‘freebie’ means . RBI in its June 2022 bulletin classifies provisions of free electricity, free water, free public transportation, waiver of pending utility bills and farm loan waivers as freebies. Another view distinguishes between ‘merit goods’ and ‘public goods’ and defines freebies in the context of providing free power, water and consumption goods.  Then, where is the dividing line between freebie and necessary government expenditure to create demand in the economy as well as help the poor? It is difficult to define . Any expenditure within the budget is acceptable and if financial constraints are not considered while offering some benefits could be labelled as freebie, though the beneficial effect of a freebie cannot be ignored, if it reaches the weak and the vulnerable. Example -Distribution of cycles , scholarship to girl students , helped to narrow down the gender imbalance in education. Hence if the Welfare State remains within budget constraints, perhaps this debate may peter down.

JT Aviation College is feeling proud to be 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝗱 with the 𝗜𝗻𝗱𝗶𝗮𝗻 𝗖𝗵𝗮𝗺𝗯𝗲𝗿 𝗼𝗳 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗲, the Premier body of business and the only National Chamber of Commerce in the country. 🔖🎉🤩👏🏻

We are overjoyed to be associated with this leading iconic organization of India that is facilitating business since 1925.

✅ Call for more 👉🏻 083349 98760 / 8337031352 🌐 Website: www.jtaviation.in 👈

KALGUDI & ICC BUYERS SELLERS MEET Theme: FOOD & AGRO PROCESSING SECTOR

Major focus on Agri-commodities: Mango, Banana, Turmeric, Dry Chilli, Cotton, Redgram, Soybean and Robusta coffee bean.

Program description:

• Inaugural session and 4 technical sessions.

• Proposed Buyer companies are: ITC, Spencer’s, Wal-Mart, Amazon, Flipkart, IRTCTC, IKEA, Heritage etc.

• Participants are banks, credit rating agencies, Food and Agro Companies and Institution.

• Farmers, FPG, FPO & NGO.

👉 register here: https://bit.ly/2uKew8t

Invitees:

§ Farmers

§ FPOs

§ Exporters

§ Traders

§ Buyers

§ Exporters

§ International Importers

Date - 12th March, 2020

📍Venue: Hyderabad Marriott Hotels & Convention Centre, Hyderabad, Telangana, India.

For further details, please contact:

Katta Shyam Benny, Ph: +91 92464 77308.

KALGUDI & ICC BUYERS SELLERS MEET Theme: FOOD & AGRO PROCESSING SECTOR

Major focus on Agri-commodities: Mango, Banana, Turmeric, Dry Chilli, Cotton, Redgram, Soybean and Robusta coffee bean.

Program description:

• Inaugural session and 4 technical sessions.

• Proposed Buyer companies are: ITC, Spencer’s, Wal-Mart, Amazon, Flipkart, IRTCTC, IKEA, Heritage etc.

• Participants are banks, credit rating agencies, Food and Agro Companies and Institution.

• Farmers, FPG, FPO & NGO.

register here: https://bit.ly/3ak6J0e

Invitees:

§ Farmers

§ FPOs

§ Exporters

§ Traders

§ Buyers

§ Exporters

§ International Importers

Date - 12th March, 2020

Venue: Hyderabad Marriott Hotels & Convention Centre, Hyderabad, Telangana, India.

For further details, please contact:

Katta Shyam Benny, Ph: +91 92464 77308