Latest news with #Capability
Daily Mirror
25 minutes ago
- Health
- Daily Mirror
DWP proposals could see Universal Credit claimants lose almost £100
The Government is consulting on plans to remove access to the Limited Capability for Work and Work-Related Activity element of Universal Credit The Department for Work and Pensions (DWP) has proposed changes that could result in thousands of Universal Credit claimants losing nearly £100 each week. Disability Rights UK is battling against the government's plans to eliminate access to the health component of Universal Credit, currently referred to as the Limited Capability for Work and Work-Related Activity (LCWRA) element, for most adults aged 16-21. This would apply to those within this age bracket who claim the benefit independently. Activists warn that if the proposal is approved, almost 110,000 disabled young adults could lose nearly £100 each week. Contact, a charity that assists families with disabled children, warns that this could have a "devastating financial impact not only on disabled young adults who are not in Education, Employment or Training (NEET), but also on many who are in education or low-paid employment". It further states that DWP's plans push "disabled young adults and their families further away from employment prospects and further into poverty". The Green Paper recognises that the government needs to "consider what special provisions need to be put in place for those young people where engagement with work or training is not a realistic prospect". Liz Kendall, the Secretary of State for Work and Pensions, stated in a speech on May 21: "Those with the most severe, life-long conditions that will never improve and who can never work will have their Universal Credit protected, including young people aged under 22". Campaigners have expressed concerns that the criteria for severe conditions possess an "extremely high threshold". The proposed changes are scheduled to be implemented in the financial year 2027/28, reports Nottinghamshire Live. Furthermore, the Green Paper is exploring the option of extending Disability Living Allowance (DLA) up to the age of 18 instead of the current cutoff at 16, a move that Contact is backing.
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Business Standard
3 hours ago
- Business
- Business Standard
India's IT giants can't afford to sit out the AI race, says senior official
While startups and academic researchers have so far led India's push to build foundational artificial intelligence (AI) models, the country's legacy IT giants are unlikely to remain on the sidelines for long, according to Abhishek Singh, Additional Secretary at the Ministry of Electronics and Information Technology (MeitY). 'Given the capability that our IT industry has and what we are hearing about Infosys and TCs, all of them are working on AI-based applications,' Singh said at the Accel AI Summit, 2025 on Wednesday in Bengaluru. 'There will be a need for doing this and enhancing their capabilities.' Infosys and TCS have both begun ramping up investments in high-performance computing infrastructure, including Graphics Processing Units (GPUs), while simultaneously retraining thousands of employees in AI-related skills. Singh noted that these companies are already supporting global clients with AI-driven applications, and it's only a matter of time before they begin to roll out proprietary AI products and platforms. 'Otherwise for them to survive without AI, it will be very difficult,' he said. 'The whole world is going towards the adoption of AI.' He said whether it's software delivery, coding practices, SaaS implementation, or solutioning for enterprise clients, everything is being reshaped by AI. Singh believes the transformation underway across the global IT landscape will force India's large tech players to shift from primarily service-driven models to product-led AI innovation. The demand for intelligent applications and automation is only accelerating. And given their scale and customer base, India's top IT firms are well-positioned to deliver on that demand—if they move swiftly. While traditional IT services companies may not be leading the development of India's foundational AI models, they are quietly catalyzing a wave of innovation through internal transitions and ecosystem partnerships, according to Prashanth Prakash, founding partner of Accel India. Inside many large firms, there's an active rethink underway about what comes next in the age of AI. One notable trend, he noted, is senior leadership exiting established IT companies to launch or support new AI ventures. These leaders already understand enterprise pain points and high-impact use cases. They bring domain expertise and built-in demand. 'They're now partnering with VCs to build startups from the ground up,' he said. Another model emerging is through Global Capability Centers (GCCs) based in India. These units are increasingly approaching startups with concrete enterprise use cases and positioning themselves as early partners. They are asking the startups to take their workflows and reimagine them using AI agents or automation. This convergence of talent migration, early-stage venture activity, and enterprise-driven use case development, signals a deeper transformation within India's services ecosystem. 'I think we're seeing multiple ways in which there will be disruption within the context of the Indian services ecosystem,' said Prakash. AI regulations As artificial intelligence applications proliferate across sectors, the Indian government is also taking a pragmatic approach to regulation—aiming to ensure compliance with existing legal frameworks while avoiding heavy-handed restrictions that could stifle innovation, according to Singh of MeitY. 'Regulation will primarily be to ensure that any AI application that is developed is compliant with the legal framework and the laws as they stand,' Singh said. 'But we are not inclined to have something similar to the European Union's approach.' Instead, Singh explained, the government will rely on sector-specific and harm-based safeguards anchored in current statutes—such as the Digital Personal Data Protection Act (DPDP), the Information Technology Act, and the Bharatiya Nyaya Sanhita, which recently replaced the Indian Penal Code. Citing examples, Singh emphasised that generative AI models must be sensitive to local legal contexts. He gave the example of pre-natal sex determination, which is strictly prohibited in India. Yet, an AI model trained on global datasets might identify the sex of a fetus from an ultrasound image, violating Indian law. He said developers will need to ensure such models are adapted to local legal and ethical norms. The focus, Singh added, will be on preventing harm—such as the spread of deepfakes, misinformation, or content that could incite violence or infringe on individual rights. He was of the view that if an application risks violating the law or causing harm to individuals or communities, it will be regulated. However, Singh was clear that regulation would not come at the cost of technological progress. 'We are more inclined towards promoting AI application development rather than restricting it.'
Time of India
a day ago
- Business
- Time of India
In Chennai city, the search for home gets pricey
1 2 The rental squeeze is no longer just a core-city story. In Velachery, a modest 1BHK in an apartment complex with elevators and other amenities now rents for 22,000, nearly double what it cost two years ago. In Sholinganallur, rents have crept past 30,000, and even suburbs like Pallavaram, Ambattur, and Perambur are no longer 'affordable'. Be it the traditional hotspots like Adyar and Anna Nagar, or the growing suburbs like Pallavaram, Perungudi, and Madhavaram, rents are surging across Chennai. With school admissions underway and offices demanding in-person attendance, families and professionals alike are scrambling for homes, only to find landlords upping the stakes mainly due to an increase in land value, a spike in property tax, and improved connectivity. "I moved into a 1BHK at T Nagar last year for a rent of 12,000. Since it is manageable, and close to work, I didn't mind the rent. A year later, my friend rented a house, and she is paying nearly 19,000 for a similar unit," explained Nisha Krishnan, who had moved to Chennai from Coimbatore. According to real estate consultants, rents in Chennai increased by 20%–25% over the past two years. Some localities witnessed a jump of 30% or more. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Promoções imperdíveis de voos baratos Voos | Anúncios de Pesquisa Saiba Mais Undo "Gated communities, in particular, are leading this surge, charging 7%–8% higher rents than standalone buildings," said Sanjay Chugh, city head, Chennai, Anarock Property Consultants. He said Chennai recorded the steepest rental growth among major Indian metros in Q3 2024 — a 22.2% quarter-on-quarter rise in per sqft rental values. "A major contributor for the hike was slowdown in new construction activity, largely stemming from pandemic-related disruptions. This limited supply, coupled with sustained demand, led to a sharp rise in rental prices. However, with fresh housing supply gradually entering the market, rental inflation has now eased to single digits after nearly three years of steep increases," said Saurabh Garg, co-founder and chief business officer of NoBroker. Another key factor is the shift in workplace dynamics. "As companies scale back remote work policies, many professionals are returning to Chennai. Furthermore, the city's emergence as a prominent hub for Global Capability Centres (GCCs) — with more than 250 centres employing more than 150,000 professionals — has significantly amplified the need for quality rental accommodations near these employment clusters," he added. Premium areas like T Nagar, Adyar, and Besant Nagar remain in high demand, but suburban pockets are seeing the sharpest rental inflation. In places like Pallavaram and Perambur, rents jumped 33%–40%. Along Old Mahabalipuram Road (OMR), Sholinganallur, and Velachery — where IT offices, coworking spaces, and colleges cluster — the rent for 1BHKs now ranges between 18,000–30,000. In Vadapalani, a 2BHK in the arterial area can cost upwards of 45,000. What's more, furnished flats and short-term leases are gaining popularity, especially among landlords who want flexibility to adjust rents more frequently. "There's high demand for move-in ready homes, and tenants are willing to pay a premium for convenience," said Giriraj, a broker based in T Nagar. S N Srikanth, a member of Chennai Real Estate Agents Association, said there is still demand for rental houses in the core city due to the presence of schools and colleges, but the supply is not matching. "This is also triggering a spike in rent. Besides, property tax has been increased, and this has a cascading effect on the rents too," he said. With rentals eating up a larger portion of monthly incomes, tenants are adapting. Many are moving further from the city centre in search of affordability. Students and single professionals increasingly prefer co-living or shared housing over hostels, expanding the tenant pool in places like Tambaram, Kolathur, and Chromepet. "Velachery has become a hub for co-living spaces. Apart from this, Pallavaram Radial Road, Pallavaram, and other suburban areas are also booming," said Suresh Rangarajan, founder of Coliv.
Economic Times
7 days ago
- Business
- Economic Times
Hinduja Global Solutions elevates Venkatesh Korla to new Global CEO
Hinduja Global Solutions (HGS) has elevated Venkatesh Korla, President & CEO, HGS Americas, as the new Global CEO, the company said in a statement on Thursday. The approval from the board has come in view of the impending retirement of Partha DeSarkar, Group CEO. The company has also appointed deputy CFO Mahesh Kumar Nutalapati as the new Global CFO. Ashok P Hinduja, Chairman, HGS said, 'The company is currently evolving to align towards an AI-led future in line with the technology changes in the market and evolving client needs. Venkatesh, with his deep expertise and proven track record of leading digital transformation at scale, is the right person to lead HGS' future growth with a digital approach."Venkatesh Korla, the new Global CEO said, 'Our people are our greatest strength, and by combining their passion with the power of technology, we will create meaningful, human-centered solutions that redefine how we serve our clients and their customers, and accelerate our journey as a digitally-led organisation.'Venkatesh is an accomplished business leader with 25+ years of experience in core digital services and tech-enabled customer experience (CX). In his earlier stints, he has been part of organisations providing expert consultation on digital strategies and solutions to Global 1000 companies, healthcare institutions, universities, and not-for-profit organisations. He also founded Element Solutions, later acquired by HGS and now forming the foundation of HGS' tech services business, that delivers strategic consulting, data analytics, marketing technology, intelligent automation, and cloud solutions to clients across the private and public sectors. Mahesh Kumar Nutalapati, who joined HGS earlier in February, is a Chartered Accountant with over 24 years of experience in various aspects of Finance. He brings extensive expertise in Financial Transformations, Risk management, Business enablement, IPOs, M&As - strategic evaluations & funding, Global Audit & Treasury management, establishment and management of Global Capability Centres (GCCs).
Hans India
28-05-2025
- Business
- Hans India
Bengaluru among top 12 global tech powerhouses
New Delhi: Bengaluru has been ranked among the top 12 global tech powerhouses, alongside leading markets in the US, according to a report released on Tuesday. The report by real estate consulting firm CBRE stated that Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai, with its tech workforce exceeding 1 million. This makes the city a critical node in the global technology and innovation landscape. Bengaluru joins cities like Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto. The report underscores Bengaluru's leadership in AI development talent, stating that it has the most AI-related professionals in India, placing it on par with established US clusters like San Francisco and New York. In terms of demographics, the Indian city ranks 4th among the 12 tech powerhouse markets in share of working-age population, with 75.5 per cent of its population falling in the working-age bracket. Moreover, the city recorded a 2.4 per cent growth in working-age population between 2019 and 2024, making it one of the fastest-growing globally in this segment. The city's startup ecosystem, supported by 28 unicorns, benefits from favourable business regulations and strong institutional support. A key driver of its growth is the presence of leading educational institutions and Global Capability Centres (GCCs), which contribute to a steady pipeline of skilled talent and anchor high-value functions in AI, data science, engineering, and product development. These factors have powered a 12 per cent increase in tech employment between 2018 and 2023, aligning with global growth trends. This robust foundation, backed by the growth of the tech industry, higher tech proliferation, long-term growth prospects and tech talent demand translated into significant VC funding inflows, the report states.
