Latest news with #IFSL
New Indian Express
9 hours ago
- Business
- New Indian Express
Zerodha's Kamath brothers invest Rs 250 crore in InCred
BENGALURU: Zerodha co-founders Nikhil and Nithin Kamath have invested Rs 250 crore to acquire a minority stake in InCred Holdings Limited, the holding company of InCred Financial Services Ltd (IFSL). This comes ahead of InCred's proposed IPO later this year. IFSL is a tech-enabled NBFC focused on consumer, education, and SME lending. Since its founding in 2016, the company has used data science, risk analytics, and digital-first operations to serve customers across India. "India's credit ecosystem is changing fast—more formal, more digital, and more accessible,' said Nikhil Kamath, investor and entrepreneur. 'InCred Group seems to get that. They've built a strong team, a technology-first approach, and a clear view of where the market is headed. Backing them is a bet on that broader shift—and the belief that responsible lending can scale without losing sight of fundamentals," he added. Founded by Bhupinder Singh, InCred Group has built a diversified lending platform serving retail and MSME borrowers across the country. Its differentiated edge lies in deep data science, proprietary risk analytics, and digital-first operations, positioning it at the forefront of India's next-gen NBFC space.
Business News Wales
12-05-2025
- Politics
- Business News Wales
Half of Adults Believe AI is Bad for Democracy
Almost half (48%) of Welsh adults believe that AI is bad for democracy, compared to 40% nationally. A study of more than 2,000 UK adults was conducted as part of wider research by independent think tank the Institute for Future Studies of Leaders (IFSL). The report, 'Ready…or not? Leaders in the Age of AI', asks just how prepared politicians and business leaders are when it comes to the impacts of AI, both positive and negative. In Wales, almost three quarters (71%) don't trust technology companies to keep personal data safe when it comes to AI, compared to 56% nationally. Half of political leaders in the study said they hope AI is an opportunity, while the other half said they didn't know yet. Almost half of Welsh adults (48%) believe Artificial Intelligence is bad for democracy, compared to 40% of UK adults, with concern rising sharply among older voters and supporters of right-leaning parties. The people of Wales are the most concerned about the technology than any other region of the UK – 71% don't trust AI when it comes to their personal data and 51% don't believe it will help economic growth in the UK. Nationally, just 16% of people view AI as a positive for democracy, and while younger people (age 18-34) are the most optimistic, more than a quarter (27%) expressed negative views on AI's role in democracy. However, almost half (48%) believe it will help economic growth in the UK, even though 40% said it is bad for democracy. In addition to democratic threats, the study found that trust in AI itself is low. More than half (55%) of all people said they distrust AI to keep personal data confidential, rising to 60% of women. Overall perception of AI in the UK skews negative, with more than a quarter (29%) viewing AI negatively, compared to just 7% who view it positively. As Parliament and the Senedd prepare to debate AI regulatory frameworks and AI governance boards, both public and private sector leaders face mounting pressure to ensure transparency, human oversight, and ethical safeguards are at the core of AI use. Hilarie Owen, IFSL CEO, and Angharad Planells, co-author of the report, believe this study should serve as a wake-up call to legislators and technology leaders. The UK public is not convinced AI will serve democratic values, and trust is lowest among voters already on the political margins. For both political stability and technological progress, both believe that trust gap must be addressed immediately. Hilarie Owen, CEO of the IFSL and co-author of the report, said: 'It is clear from the research that when it comes to AI there are different perspectives from business leaders and politicians. On top of that there is the British and European perspective and the US and China perspective. Yet for success business and politicians need to work together so everyone can gain from this remarkable technology. While government was too slow to put guard rails around social media, there is an even bigger juggernaut heading our way in the form of AI. By bringing these issues to the forefront, identifying the pitfalls and opportunities, and suggesting a clear way forward for leaders, we hope that our research both inspires and enables action.' 'This data sends a clear signal to political leaders and business decision-makers that public trust in AI, particularly its role in democratic processes, is fragile', added Angharad Planells, co-author of the report. 'What's also clear is that leaders worldwide must recognise that AI has moved rapidly from lab to legislation, and that their own shortcomings in knowledge and delays in acting could destabilise institutions and ways of life that we all rely on. When it comes to the AI age, the best leaders must be curious and cautious in equal measure, and we hope this report compels politicians and CEOs alike to act.'
