TCS layoffs flag AI-induced pain, need for safety net
The TCS disclosure reminds us of the consequences of AI—the programming of machines to simulate human intelligence, enabling them to 'think' and 'learn' to solve problems, make predictions and take decisions. Management consultancy Goldman Sachs reminds us we could lose as many as 300 million full-time jobs worldwide. McKinsey projects that by 2030, nearly 30 percent of working hours in the US could be automated. However, all technological change—AI is a significant one—creates turbulence in the present, but yields rewards in the future. Many have forgotten that computerisation arrived decades ago, accompanied by some job losses, but it ultimately expanded the employment base manifold in the long run. The World Economic Forum's recent 'Future of Jobs' report, for instance, forecasts that 83 million jobs globally will be eliminated by 2027, but 69 million new roles will emerge. What is necessary, though, is an immediate safety net that will retrain and redeploy those who have been rendered redundant. That is one way to lessen the pain.
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Mint
2 hours ago
- Mint
Nifty IT extends weekly losing streak to five, worst in over two years as tech stocks continue to plunge
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Time of India
3 hours ago
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Indian Express
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Missed deadlines & bottlenecks The Yellow Line was originally outlined in the Detailed Project Report (DPR) prepared by the Delhi Metro Rail Corporation (DMRC) in 2011, with an estimated cost of Rs 4,255 crore and a targeted completion date of March 2016. Construction began in 2017 with a revised deadline of December 2021 and an updated budget of Rs 5,744 crore. What followed was a series of bureaucratic delays, supply chain setbacks, and leadership lapses that repeatedly derailed the project timeline. Civil work gained momentum in 2018-19, but land acquisition delays began affecting project schedules. In 2020, the Covid-19 pandemic further stalled progress, causing widespread disruption in supply chains and manpower. Geopolitical tensions between India and China following the 2020 Galwan clash delayed the supply of rolling stock from CRRC Nanjing, the Chinese train manufacturer. To tackle this issue, the government revised its strategy and directed CRRC to partner with Kolkata-based Titagarh Rail Systems Ltd to manufacture the trains domestically. However, this localisation brought its own challenges: production line delays, visa issues for CRRC engineers, and hold-ups in delivering the Train Control and Management System (TCMS) software by Mitsubishi Electric Corporation (MELCO) further pushed the project timeline into uncertainty. Attempt to fast-track the project At this point, Bangalore South Member of Parliament Tejasvi Surya pressed both state and central authorities to fast-track the remaining work. In 2023, he launched a campaign advocating for the appointment of a full-time managing director (MD) for BMRCL. After three months of sustained lobbying and meetings with the Ministry of Housing and Urban Affairs (MoHUA) and the state government, a dedicated MD was finally appointed — freeing up much-needed executive bandwidth to resolve bottlenecks. Meanwhile, the Yellow Line's cost escalated to Rs 7,610 crore — about Rs 400 crore per km, representing a 32% increase from BMRCL's original estimate. Finally, CRRC delivered its first six-coach prototype (driverless with CBTC) train set in February 2024. Through collaboration with the Ministry of External Affairs and the Union Finance Ministry, issues related to visas and customs clearance for CRRC engineers and imported components were resolved to speed up coach production at the Titagarh factory. On January 6, 2025, the first train set was rolled out and dispatched from Titagarh Rail Systems, followed by a second train set that arrived at Bengaluru's Hebbagodi depot on February 9. Between April and May, six additional coaches reached Bengaluru, bringing the total to three train sets and prompting BMRCL to accelerate preparations for commercial operations. Despite these advancements, BMRCL had not committed to an official launch date by mid-2025 due to delays in receiving the Independent Safety Assessment (ISA) report, which would allow BMRCL to request a Commissioner of Metro Railway Safety (CMRS) inspection. The ISA report was delayed due to technical glitches discovered during the review of key datasets, requiring software updates. Without this report, BMRCL could not proceed with the mandatory CMRS inspection. However, ISA clearance was granted on July 19, after which CMRS inspection was requested. Green light for commercial operations On August 1, the CMRS cleared the Yellow Line for revenue operations but flagged several issues, including unauthorised welding work, incomplete structural tests, non-functional lifts, and incorrect signage at some stations. On August 2, Union Minister for Home and Urban Affairs Manohar Lal Khattar announced that Prime Minister Modi would inaugurate the Yellow Line connecting RV Road to Bommasandra and lay the foundation stone for the 44.65-km Phase-3 expansion of Bengaluru Metro on August 10. Currently, BMRCL plans to operate the Yellow Line from Monday (August 11) with three trains running at a frequency of 25 minutes from RV Road to Bommasandra. Sanath Prasad is a senior sub-editor and reporter with the Bengaluru bureau of Indian Express. He covers education, transport, infrastructure and trends and issues integral to Bengaluru. He holds more than two years of reporting experience in Karnataka. His major works include the impact of Hijab ban on Muslim girls in Karnataka, tracing the lives of the victims of Kerala cannibalism, exploring the trends in dairy market of Karnataka in the aftermath of Amul-Nandini controversy, and Karnataka State Elections among others. If he is not writing, he keeps himself engaged with badminton, swimming, and loves exploring. ... Read More
