A. TECHNOLOGY:
1. Workplace platform Slack enters India to help firms establish 'digital HQs'
Workplace communication platform Slack has announced to officially enter the Indian market, to help companies navigate the transition to a hybrid workplace by establishing digital headquarters.
2. upGrad acquires enterprise training firm Work Better
upGrad has acquired a Mumbai-based Work Better for an undisclosed amount to strengthen its enterprise learning and development offerings. Post-acquisition, Work Better will merge into upGrad, and be renamed as upGrad Work Better, to offer tailor-made courses for employees and organisations.
3. ITC, Unilever, Dabur in talks with ONDC; Shopify may join too
Major FMCG players like ITC, Unilever, Dabur and Nivea are in talks with ONDC (Open Network for Digital Commerce), which is building technology to enable interoperability among e-commerce platforms, to join the network, according to sources familiar with developments. The Indian open network for e-commerce is also exploring ways to build a system that will help the FMCG companies offer separate deals and price points to distributors, retailers and individual consumers.
4. Microsoft to offer standardized online identity verification system
Microsoft will offer its customers a standardized online identity verification system beginning in August. Through Microsoft's Entra management systems, which include Verified ID, it offers users the ability to identify oneself to entities that require user verification. The launch is in response to various people using fake accounts to access sensitive online networks, including Microsoft's own Azure cloud platform. Instead of having personal information spread across a host of apps and services, this Verified ID system acts as a kind of digital wallet or personal info portfolio that can be handed over to employers, bankers, or whoever needs a verified identification.
5. Thousands of amendments submitted for EU's AI Act
Euractiv reports the EU's proposed Artificial Intelligence Act has amassed thousands of potential amendments from each political group within European Parliament. One of the most debated topics within the draft is the definition of AI, with Parliament co-rapporteurs waffling between a broad definition and the Organisation for Economic Co-operation and Development's version. Other proposals include changing the scope to include AI in the metaverse, a potential full ban on facial recognition and updated governance provisions.
6. Electronics Right to Repair Law Passed
Under a law passed, electronics makers selling products in New York state will be forced to provide repair information, parts, tools, software and components to consumers and independent repair providers. The right to repair law, called the Digital Fair Repair Act, will mean customers no longer have to take their damaged or broken electronic products back to the original makers to get an authorized repair, and can instead fix things like phones or laptops themselves, or take them to lower-cost independent repair shops.
7. Facebook owner Meta makes antitrust commitments over online advertising
France's anti-trust watchdog body - Autorité de la concurrence has, in a statement, stated that it has approved commitments made by Facebook owner Meta Platforms (META.O) regarding the French online advertising sector. As per the statement, Meta has committed to giving access over a five-year period to advertising inventories and campaign data to so-called advertising technology companies on transparent, objective and predictable conditions.
8. Tech Association lobbies Government to only allow Made in India crypto exchanges
IndiaTech, a tech industry association whose members include Zebpay, CoinDCX, Coinswitch Kuber, and WazirX, through a letter, wants the Indian government to only let registered or founded-in-India cryptocurrency exchanges operate such businesses. IndiaTech also requested the Finance Ministry to clarify taxation around crypto assets in the upcoming Budget Session.
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9. RBI appoints department to regulate crypto exchange, and formulate CBDCs
As per reports, the Reserve Bank of India has opened a dedicated department for fintech that will help create regulations for cryptocurrency and its upcoming central bank digital currency (CBDC). The report also said that RBI is working on two kinds of CBDCs - wholesale and retail - and that the new department will be tasked with overseeing their development.
10. RBI Bars Prepaid Wallets And Cards From Offering Credit Lines To Customers
The Reserve Bank of India (RBI) disallowed non-bank wallets and pre-paid cards from loading their credit lines into these platforms. RBI in a one-page circular addressed to non-bank pre-paid payment instruments (PPIs) directed them to stop such practice immediately. This circular is being seen as an effort to clampdown on card fintech and firms operating as neo-banks who have tied up with banks to offer credit lines.
11. New VPN rules: CERT-In gives 3-months breather to VPN providers
CERT-In has given a breather to the providers of virtual private network (VPN) service in the country. The cyber agency has granted them another three months to comply with its new rules.
12. Germany opens anti-cartel probe into Google Maps
The Federal Cartel Office has opened a probe into Google Maps to examine possible anti-competitive restrictions imposed by Google Maps Platform to the detriment of alternative map services providers.
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