Forbes India 15th Anniversary Special

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the week

The Fintech sector's turmoil, Mishthi Aggarwal's rebellion, the effects of low voter turnout in Lok Sabha elections, and Karthik Reddy's investment strategies are some of the stories that piqued the interest of our readers this week

Published: May 18, 2024 10:00:00 AM IST
Updated: May 17, 2024 01:03:14 PM IST

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekImage: Shutterstock

1) Blockbuster run

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekIn 1989, Tata Motors created an arm to outsource engineering and IT work. This unit was made into a subsidiary in 1994 and was named Core Software Systems. It still served Tata's automobile company exclusively. In 2001, the subsidiary became Tata Technologies, and in 2005, the acquisition of INCAT International changed the game. It brought marquee customers to the company and also its current CEO Warren Harris into the fold. The company's efforts have always been about pushing the boundaries of innovation, and it has made it into a global engineering research and development powerhouse. Here's how Harris is eyeing new sectors to conquer and continue the blockbuster run.

2) The fintech turmoil

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekIn recent months, fintechs have come under more scrutiny as the Reserve Bank of India (RBI) has sought to curb data security breaches, fraud and money laundering. Big names are making headlines for trading in murky waters. For example, Paytm (problems with Paytm Payments India Ltd) and BharatPe (governance and embezzlement accusations made by Ashneer Grover). The need for governance is highlighted because of these situations, but finance industry experts believe that fintech is here to stay. Here's what the fintech organisations need to do to avoid the turmoil.

3) Elections and markets

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekThe fifth phase of Lok Sabha elections polling is upon us. India's finance capital, Mumbai, will be voting on May 20 to seal the fate of six constituencies for the next five years. The campaigns from all the candidates are about to reach the summit, but there are also concerning murmurs about low voter turnout in previous polling phases. Everyone is urging voters to step out and be counted, from party workers on the ground to the star campaigners on the dias. This anxiety is also seeping into the share market's performance. It faced some jolts these past few weeks. But is this restlessness around the fast-approaching election outcome too much ado about nothing? Let's find out.

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1) Brewing her own path

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekMishthi Aggarwal comes from a conservative Marwari, Rajasthani family, which happens to run Bikanervala Foods. The Marwari culture expects girls to get married as soon as they graduate. Even in the Bikanervala family, no woman had ventured outside the country to seek higher education, let alone start her own business. But Mishti rebelled with the support of her father, Manoj Aggarwal. She graduated in economics from the University of Nottingham, earned a management degree from Harvard University, and has started 93 Degrees Coffee Roasters. This is the story of a woman who dreamed and dared.

2) Exploring new locales

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekThe travel boom in India has been making headlines since the Covid-19 imposed lockdowns were lifted. Two years of mobility restrictions and the fear of being unable to see the next day might be fuelling the urge to experience all they can. Maybe that is why we see tourist destinations, domestic or international, full of visitors even during off-season days. YOLO for the win. This enthusiasm towards travelling has also forced hospitality giants and hotel chains to look for newer locations in underserved markets. Whether Kashmir or Bodh Gaya, you will now find five-star hotels bringing their top-class services to Tier-II and Tier-III cities. What changed? What's ahead? Here's a lowdown on this new movement in the tourism sector.

3) What does it take to fund startups?

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekStartups, scaling, valuation, funding, and the funding winter have been the talk of the town these past couple of years in India. So, how do venture capitalists decide their next investment? Karthik Reddy, co-founder and partner at Blume Ventures, pieces together how founders and investors cross the maze of value creation to take a startup from seed to scale. In the latest episode of Pathbreakers, he also discusses the secretive world of venture capital funds. He demystifies the randomness of success in VC investing, where investors depend on gut instincts more than financial data to find the next unicorn.

4) New-age banking

From Tata Technologies' next steps to new-age banking with AI: Our top stories of the weekArtificial Intelligence (AI) and Machine Learning (ML) have disrupted various sectors over the past few years. Banking was not going to be left behind. AI's ability to analyse vast amounts of data and identify patterns without human intervention has unlocked new possibilities for the industry. In the latest episode of Tech Conversations, Dennis Gada, Executive Vice President and Global Head of Banking and Financial Services at Infosys, shares how banks are looking to tap digitalisation and what they are looking for from their IT vendors. Gada, who is also a member on the board of EdgeVerve Systems, Infosys's products and platforms business, also talks about how core banking software is evolving in the age of AI.