TechNews RoundUp: Oracle Strengthens Saudi Arabia’s AI Economy, India’s SaaS market to soar to $50 Bn, 9 out of 10 Women say GenAI is crucial and more

Clover Infotech brings to you a curated round-up of important technology updates for the month of August’24:

1. Oracle Strengthens Saudi Arabia’s AI Economy with Opening of Second Public Cloud Region

To meet the rapidly growing demand for its AI and cloud services, Oracle announced the opening of its second public cloud region in Saudi Arabia. The new Riyadh cloud region will help public and private sector organizations migrate all types of workloads to Oracle Cloud Infrastructure (OCI), giving them access to a wide range of cloud services to modernize their applications and innovate with data, analytics, and AI. Center3 is the host partner for the new Oracle Cloud Riyadh Region…CONTINUE READING

2. Oracle Deploys New Financial Services Risk and Finance Solution Optimizing Life Insurer Reporting Capabilities

Oracle Financial Services Risk and Finance solution has deployed in one of the largest life insurers in the Australasian region to deliver the automation, data insights, and reporting capabilities needed to be more efficient and achieve IFRS 17 compliance. The solutions help to increase cross-department collaboration and transparency to optimize performance and risk management on a single platform…CONTINUE READING

3. 9 out of 10 women agree generative AI is crucial for career growth, claims report

Women comprise a significant portion of India’s tech workforce, yet they remain underrepresented in executive roles, with a significant gender gap in AI leadership compared to global counterparts, a recent report claims.

According to a report by Nasscom and Boston Consulting Group (BCG), increasing women’s participation in the workforce is crucial for…CONTINUE READING

4. Salesforce Signs Definitive Agreement to Acquire PredictSpring

Salesforce signed a definitive agreement to acquire PredictSpring, a modern retail Point-of-Sale (POS) software vendor built natively in the cloud. Following the close of the transaction, PredictSpring will enable Salesforce to provide a unified omnichannel platform spanning digital and physical channels. PredictSpring will complement existing Customer 360 capabilities and bring Salesforce’s technology further into the physical store…CONTINUE READING

5. OpenAI Says ChatGPT’s Weekly Users Have Grown To 200 Million

AI startup OpenAI said recently that its chatbot ChatGPT now has more than 200 million weekly active users, double the number it had in the last fall season.

ChatGPT, launched in 2022, can generate human-like responses based on user prompts and had 100 million weekly active users, OpenAI CEO Sam Altman had said in November…CONTINUE READING

6. India’s SaaS market to soar to $50 billion by 2030 riding on AI: Report

India’s SaaS market is projected to reach $50 billion by 2030, with a possibility of an upward revision on the back of artificial intelligence (AI), stated a report by venture capital firm Bessemer Venture Partners (BVP). Titled ‘The Rise of SaaS in India’, the report stated that the Indian SaaS market can triple its revenue by 2030, largely driven by the rapid acceleration of AI…CONTINUE READING

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