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Swiggy Acqui-hires AI Start-up For Deep Learning

Kint.io is the first technology-led acqui-hire for Swiggy as it makes investments in its long-term strategy of building AI-first platforms

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Swiggy
Founded in 2014, Swiggy claims to have 50,000 restaurant partners

Online food ordering and delivery app Swiggy on Monday announced it has acqui-hired Kint.io, an Artificial Intelligence (AI) start-up that applies deep learning and computer vision for object recognition in video, for an undisclosed sum.

Founded in 2014, the Bengaluru-based start-up would assist Swiggy in boosting its computer-vision technology and consumer experience.

The founding members of Kint.io, Pavithra Solai Jawahar and Jagannathan Veeraraghavan, will join the Swiggy team, the company said in a statement.

Swiggy
Swiggy will use the funds to bring more quality food brands closer to consumers.

“This acqui-hire is part of our strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems, while leveraging the network and resources at Swiggy,” said Dale Vaz, Head of Engineering and Data Sciences, Swiggy.

Also Read- Google Shows How Simple Steps Can Help You Feel Safer on Internet

Kint.io is the first technology-led acqui-hire for Swiggy as it makes investments in its long-term strategy of building AI-first platforms.

“AI research has leap-frogged this past year but lack of data, cultural biases and inability to adapt to our diversity has somehow always pulled us back when it comes to applying AI to India-based problems. This is where Swiggy left us stumped,” said Jawahar and Veeraraghavan. (IANS)

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Threat of AI Displacing Jobs is Real, Says Telecom Secretary

On aggregate, the employability for new-age jobs is on average 1.7 per cent, showed the findings based on more than 170,000 Indian engineering students

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The enterprise solutions major has integrated SAP CoPilot with the
"A tectonic shift is happening in AI. Nearly 85 per cent of enterprises globally will use AI in some form or the other by 2020.

While digitisation has delivered great benefits to the country, the threat of automation and Artificial Intelligence (AI) displacing jobs is real, Telecom Secretary Aruna Sundararajan said on Monday.

“Adoption of digital technology has proved to be a great democratiser and leveller in India, especially in doing away with many hierarchies in the Indian economy. But digital is also throwing up as many challenges. There are no easy answers to them,” Sundararajan said, while delivering the keynote address at a conference on “future of the digital economy” here.

“There are various estimates about the rate at which jobs are becoming irreverent – from 10 per cent to a high of 70 per cent. So this threat is real,” she said while referring the rise of AI.

With dangers of job losses looming large, can providing universal basic income be the answer?

“The idea of providing universal basic income is gaining ground because a lot of Silicon Valley leaders are pushing for it,” she said.

Participating at a separate panel discussion, Sanjeev Bikchandani, Co-Founder of Info Edge which runs the job portal Naukri.com, said that there will be no large scale job losses due to AI.

AI has the potential to increase India's annual growth.
AI has the potential to increase India’s annual ggrowth.Pixabay“Some jobs will definitely go. But this happens all the time with new technology arriving. Similar questions were raised when computers were introduced in India. AI will create new industries,” he said at the conference co-organised by Indian Council for Research on International Economic Relations (ICRIER) and Data Catalyst, a non-profit organisation.

 

But do Indians have the skill set for the new jobs that may be created by the new industries?

According to a new report released last week by job skills assessments company Aspiring Minds, over 80 per cent Indian engineers are unemployable for any job in the knowledge economy.

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A mere three per cent engineers have new-age technological skills in areas like AI, Machine Learning, Data Science and mobile development, the report said.

On aggregate, the employability for new-age jobs is on average 1.7 per cent, showed the findings based on more than 170,000 Indian engineering students. (IANS)