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
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
By 2028, 75% of enterprises will prioritize backup of software-as-a-service (SaaS) applications as a critical requirement, compared to 15% in 2024, according to Gartner, Inc. SaaS-based applications have become a preferred choice for new and modernized deployments, with the data these applications generate expected to be among the fastest-growing sets of critical enterprise data over the next five years. According to Gartner’s latest forecast, worldwide end-user SaaS spending is projected to grow 20% to total $247.2 billion in 2024, and is forecast to reach nearly $300 billion in 2025…CONTINUE READING
8. Cloud Market Growth Stays Strong in Q2 While Amazon, Google and Oracle Nudge Higher
New data from Synergy Research Group shows that Q2 enterprise spending on cloud infrastructure services was $79 billion worldwide, up $14.1 billion or 22% from the second quarter of 2023. After seeing growth rates soften a little through much of 2023, this is the third consecutive quarter in which the year-on-year growth rate was 20% or more, with generative AI being one of the factors behind the market acceleration…CONTINUE READING
IBM recently announced the introduction of generative AI capabilities to its managed Threat Detection and Response Services utilized by IBM Consulting analysts to advance and streamline security operations for clients. Built on IBM’s watsonx data and AI platform, the new IBM Consulting Cybersecurity Assistant is designed to…CONTINUE READING
