Siddhartha Mohanty, CEO and MD, LIC "It will not only enhance our...
Category:
Technology
Latest
90% of financial institutions focus on AI, GenAI for innovation: PwC India
"Collaborative innovation is now seen as a key driver for fintechs,...
Combination of EVs, hybrids, plug-in-hybrids will drive India’s clean energy auto sector: Report
As per the report, the Indian EV market has seen tremendous growth....
India to be top spender on security solutions in APAC in 2021: IDC
“In Asia/Pacific, investments on security-related products and solutions (endpoint security, VPN, and firewalls) will experience double-digit growth in 2021 due to the increased spending by both governments and enterprises (particularly in the banking, telecom, and professional services industry),” explained Sharad Kotagi, Associate Market Analyst at IDC IT Spending Guides, Customer Insights and Analysis.
Hyundai Motor to phase out Kona EVs in domestic market amid recalls
The Kona EV is Hyundai’s bestselling EV model launched in April 2018, but the compact SUV’s image has been tainted by a series of battery fires, which prompted the automaker to recall over 75,680 units in February jointly with battery maker LG Energy Solution Ltd.
Airbus and tech firm Luminar partners to test autonomous flight tech
The two companies will work on enhancing aircraft sensing and perception, Luminar said, adding that its technology could also substantially improve the safety of existing aircraft applications.
Europe embraces digital health pass,to face security, fraud, political challenges
The EU Commission plans to award a contract this month for a central system for verifying the digital passes, which will use QR codes that can be scanned into a smartphone app. It will also provide a template to help member countries develop their own apps – though some have already readied their own versions.
There is still no consensus on whether antibody tests provide sufficient proof that a person who has recovered from COVID-19 is immune, sources involved in the efforts say.
Member states also worry about the security of personal information, though the Commission has promised the online certificates will contain minimal data: name, date of birth, the specific health information, its date of issue and a unique identifier code.
How the EU’s digital health pass scheme would work
The pass, issued by a doctor or health centre, would feature a QR code containing pre-authenticated information that a traveller has been vaccinated against COVID-19 or has received a negative PCR test result.
The QR code, printed out on a piece of paper, would serve as proof of immunity. It would also be possible to scan the code into a smartphone app.
SIA-India for unleashing full potential of all satellite bands for IoT
”Satellite-based connectivity has proven to be a cost-competitive and efficient alternative to the provision of broadband – whether directly or by extending terrestrial networks – especially in places that would otherwise be difficult or impossible to reach with terrestrial infrastructure,” said statement by SIA, a non-profit association representing the interests of communication satellite ecosystem in India. The comments come against the backdrop of TRAI inviting public views for framing licensing norms for satellite-based connectivity for low bit rate applications. The low bit rate applications are sensor-based applications used in ATMs, traffic management, vehicle tracking, IoT devices.
China could rule world’s technology, UK cyber spy chief says
“Significant technology leadership is moving East,” Fleming said at Imperial College London. “The concern is that China’s size and technological weight means that it has the potential to control the global operating system.” “We are now facing a moment of reckoning,” he said.
Data Protection:RBI bars American Express Banking Corp. and Diners Club International from on-boarding new domestic customers
These entities have been found non-compliant with the directions on “Storage of Payment System Data”.
n terms of RBI circular on Storage of Payment System Data dated April 6, 2018, all Payment System Providers were directed to ensure that within a period of six months the entire data (full end-to-end transaction details / information collected / carried / processed as part of the message / payment instruction) relating to payment systems operated by them is stored in a system only in India.
Britain’s driverless car ambitions hit speed bump with insurers
Insurers are key players in the shift to automated driving, with some investing in a technology they believe will slash accidents and deaths, and save them billions in payouts.
But they are worried drivers might equate today’s lower levels of automation with fully self-driving vehicles, potentially causing more accidents in the short term and permanently damaging public confidence in the technology.
Bank of England sees potential risks from cloud data providers
Regulators globally have been tightening scrutiny of outsourced functions as they worry that core services financial firms provide to customers are vulnerable to outages at third parties.
Britain’s government is keen to promote fintech as an area of growth and hopes that nimbler regulation will enable it to steal a march over the European Union, where British financial firms now have reduced access due to Brexit.
On Monday, finance minister Rishi Sunak asked the BoE to work with the finance ministry on whether the central bank should set up a digital version of sterling to compete with cryptocurrencies, which he dubbed ‘Britcoin’.