Latest news with #VipinGupta
Yahoo
04-06-2025
- Business
- Yahoo
Data privacy, compliance spend rises alongside AI efforts
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. Companies in the U.S. boosted spending to secure their data in the previous 12 months, according to a Blancco report published Wednesday. The survey, conducted by Coleman Parkes, consulted 2,000 IT and sustainability professionals in February and March. More than half of global businesses increased data privacy and protection compliance budgets, with the average organization growing this spending category by 46%. Among U.S. organizations, spend increased 71% year over year. The report attributes the spike to several factors, including new regulation in response to AI oversight. "Regulations may lead the charge, but IT and compliance teams also face internal demands for sustainability alignment and smarter asset use," the company said. Enterprise AI efforts pushed up compute costs, with CIOs working to deliver automation at scale. Compliance and data privacy costs rose too, as businesses responded to shifts in AI oversight and worked to mitigate increased cybersecurity risks. More than 2 in 5 leaders said their companies beefed up cybersecurity practices and reassessed privacy and data security measures due to the increased risks associated with AI adoption, a Gallagher report published in March found. Almost half of respondents in the Blancco survey credited AI with helping reduce redundant or obsolete data. However, more than 1 in 4 leaders reported the opposite: AI use increased the presence of this type of data in their IT estates. Leaders often identify data problems as an obstacle to AI deployment at scale. The challenge is compounded as new types of data emerge, said Vipin Gupta, president and CTO at Flipt, speaking during the MIT Sloan CIO Symposium in May. "We have to rethink how we will label and how we understand the data," Gupta said. "And I think that new thinking is still evolving." AI might provide an answer to the problem and help organizations sort through existing data more efficiently, Gupta said, as LLMs and other tools enter the market to accelerate data labeling. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
02-05-2025
- Business
- Mint
Indian influencers to drive $1 trillion consumer expenditure by 2030: BCG report
The influence of India's creator economy on consumer spending is expected to almost triple to $1 trillion by 2030, a Boston Consultancy Group report released on Friday said. India is home to 5 million content creators whose videos influence up to $400 billion of consumer spending. That is, 20% of India's $2,000 billion overall consumer spending. However, as of yet, it impacts only 30% of consumers in India, the report added. That is because a large audience uses social media just for fun. The report said, '70% people watch content online 'to get entertained' and 'to get information', other reasons include 'develop new skills' and 'gain technical knowledge.'" Also read: Finfluencers rejoice at ASCI go-ahead for general advice and promotion on social media after Sebi scrutiny Simultaneously, the creator ecosystem's direct revenues are projected to expand to $100-125 billion in the next five years from $20-25 billion today. The report has found that the creator economy is largely a metropolitan phenomenon. Almost 65% of creators are from urban centres. However, it has also started picking up in Tier 2 and 3 cities. 'Our platforms of ShareChat and Moj have 75% of users and 80% of creators from Tier 2 and Tier 3 cities. We contribute to diversifying the creator and consumer profile for brands while empowering regional creativity in India. We have also pioneered new monetisation models such as microtransactions, which drive the majority of creator earnings on our platforms today," said Manohar Singh Charan, co-founder of Indian creator platforms Moj and ShareChat. The leading sectors in the creator space include lifestyle categories like fashion, entertainment, beauty and personal care. Also read: Gaming gets costlier! Microsoft hikes Xbox prices globally amid rising tariffs and costs: How much more to pay With this growth, brands are expanding their investment in influencer marketing. The report suggests that 70% of Indian brands plan to scale their influencer budgets by up to three times in the next two to three years. A prime example of this is India's largest FMCG brand, Hindustan Unilever. Mint reported earlier that HUL has broadened its influencer pool by almost 11 times. The increase in budgets will also help these companies deal with the challenges of maximising the return on their investment and the problem of influencers with fake followers. 'What began as a Gen Z and metro-focused phenomenon is now resonating across age groups and smaller cities, unlocking new avenues of influence and engagement," said Vipin Gupta, managing director and partner at BCG. Also read: April auto sales: SUVs race ahead while small cars lose momentum 'Categories like fashion, beauty, and entertainment are leading the charge, while emerging monetization models—such as live commerce and virtual gifting—are redefining how creators and brands drive value together," he added. Content platforms, which are at the centre of this growth, play a vital role. Mint reported earlier that YouTube invested ₹ 210 billion in India's creator economy in the past three years.
