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<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition, a roundup of some of our top stories. We're into the final hours before election day. Tens of millions of Americans have already voted.Business Insider will be covering this final stretch and the days that follow with a sharp focus on what the next president will mean for you. From the <a target="_blank" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">prices you pay</a> to how to <a target="_blank" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">invest</a>, we'll have you covered.And if you're looking for a break from politics, we'll also continue to bring you all of the most important stories in business. You can find it all on our <a target="_blank" href="https://www.businessinsider.com/">homepage</a> or on our <a target="_blank" href="https://www.businessinsider.com/app">app</a>.On the agenda today:<ul><li>Tesla's test drivers talk about <a target="_blank" href="https://businessinsider.com/tesla-self-driving-software-test-drivers-project-rodeo-experiences-2024-10">pushing the limits of self-driving software</a>.</li><li>Many Americans are now <a target="_blank" href="https://www.businessinsider.com/careerist-corporate-ladder-decline-promotions-work-ethic-american-dream-2024-10">turning down promotions</a>.</li><li>It's the end of an era for <a target="_blank" href="https://www.businessinsider.com/big-tech-workers-pushed-limits-of-perks-benefits-pampering-over-2024-10">Big Tech perks</a>.</li><li>WATCH: Inside the US Army's <a target="_blank" href="https://www.youtube.com/watch?v=J5uY3JM-SLc">war games built to battle China</a>.</li></ul>But first: Takeaways from a big week in Big Tech.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h2 id="11850be2-84e0-4d2d-bc14-a7b71271d9fa">All about AI, all the time</h2>The trillion-dollar giants of Big Tech reported earnings this week, beating estimates and committing billions to AI. The big winners: Those able to signal a strong return on that investment.AlphabetGoogle's cloud business benefited from AI adoption, posting a 35% year-over-year increase in revenues, while CEO Sundar Pichai said more than a quarter of the company's <a target="_blank" href="https://www.businessinsider.com/google-earnings-q3-2024-new-code-created-by-ai-2024-10">new code is now created by AI</a>. The core advertising business held strong despite growing competition from the likes of <a target="_blank" href="https://www.businessinsider.com/openai-steps-up-google-challenge-launches-chatgpt-search-tool-2024-10">OpenAI</a>, <a target="_blank" href="https://www.businessinsider.com/reddit-google-search-ceo-steve-huffman-2024-10">Reddit</a>, and more.AmazonThe retail and cloud giant smashed expectations, sending the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/amazon-stock-price-q3-earnings-beat-rally-tech-aws-cloud-2024-11?_gl=1*i8hnjj*_ga*MTgyOTM2NDMzNy4xNjk3OTg5ODM3*_ga_E21CV80ZCZ*MTczMDQ4ODMxMC4xMTguMS4xNzMwNDg5MjA5LjguMC4w">stock soaring</a> on Friday. It also benefited from <a target="_blank" href="https://www.businessinsider.com/amazon-ceo-andy-jassy-even-more-bullish-ai-cloud-opportunity-2024-10">AI adoption</a>, as cloud unit AWS posted a 19% increase in revenues. A strong performance in retail, where execs said shoppers were <a target="_blank" href="https://www.businessinsider.com/amazon-q3-earnings-shoppers-cheaper-items-high-frequency-good-business-2024-11">buying cheaper items at higher volumes</a>, and a sharp focus on cost control had investors cheering.AppleApple beat <a target="_blank" href="https://www.businessinsider.com/apple-stock-earnings-report-call-live-updates-2024-10">revenue and profit estimates</a> overall, but a <a target="_blank" href="https://www.businessinsider.com/apple-china-headache-not-going-away-soon-ai-iphone-i2024-11">year-over-year decline in revenue in China</a> left investors underwhelmed. All eyes are now on demand for the iPhone 16 and whether new <a target="_blank" href="https://www.businessinsider.com/apple-intelligence-48-hours-trial-liked-these-ai-features-best-2024-10">Apple Intelligence features</a> help juice sales.MetaMeta beat <a target="_blank" href="https://www.businessinsider.com/meta-stock-earnings-report-call-live-updates-2024-10">estimates</a>, though user growth came in below expectations. Mark Zuckerberg promised to <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-happy-spending-big-ai-2024-10">keep spending on AI</a> and flexed Meta's huge <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-meta-nvidia-h100-chip-cluster-llama-4-2024-10">cluster of Nvidia H100 chips</a>.MicrosoftMicrosoft also <a target="_blank" href="https://www.businessinsider.com/microsoft-beats-estimates-ramps-up-capex-on-ai-2024-10">beat estimates</a>, but concerns around capacity constraints in AI and the return on its <a target="_blank" href="https://www.businessinsider.com/microsoft-google-cloud-ai-earnings-2024-10">investments in the space</a> led the tech giant's stock lower across the week.<h2 id="8de1f093-db58-438e-a296-ab09ff92ad5c">Inside "Project Rodeo"</h2><div type="image" title="Tesla on a striped crosswalk with a walking sign over it" height="1500" width="2000" msid="114913832" hostid="261" sizebytes="199536"></div>In preparation for its future of autonomous vehicles, Tesla has been leaning on a specialized group of test drivers, part of what's known internally as "Project Rodeo."BI spoke with nine test drivers, who described sometimes perilous scenarios and near-crashes while testing unreleased software.<a target="_blank" href="https://businessinsider.com/tesla-self-driving-software-test-drivers-project-rodeo-experiences-2024-10">Here's what they said</a>.<h2 id="69bad2e5-a5bf-4ba9-b958-e3eff00ffc5b">Rethinking corporate careerism</h2><div type="image" title="A man holding a ladder and walking away from others climbing ladders" height="1803" width="3606" msid="114913830" hostid="261" sizebytes="551808"></div>Scaling the corporate ladder was once a cornerstone of the American dream. Now, 42% of Americans say they don't even want a promotion, according to a survey by global HR consultancy Randstad.That's higher than the countries known for being more chill about work, like Italy, Spain, and New Zealand. The anti-advancement shift has left bosses scratching their heads. If promotions won't motivate workers, what will?<a target="_blank" href="https://www.businessinsider.com/careerist-corporate-ladder-decline-promotions-work-ethic-american-dream-2024-10">Packing up the corporate ladder</a>.<h2 id="8d221ec2-a40e-4d73-80e7-638d6c30f428">The disappearing tech freebies</h2><div type="image" title="A vice grip holding a wrapped gift" height="1500" width="2000" msid="114913831" hostid="261" sizebytes="896688"></div>After years of upping the ante with everything from exercise classes to laundry services, tech companies are clamping down on freebies. It's part of a wider push to cut costs across the industry.The lavish perks culture, once aimed at subsidizing nearly everything, led to entitlement and rule-bending among some employees. In a new era of efficiency and layoffs, tech workers need to get used to a new, non-extravagant normal.<a target="_blank" href="https://www.businessinsider.com/big-tech-workers-pushed-limits-of-perks-benefits-pampering-over-2024-10">Use it, don't abuse it</a>.<h2 id="dc96d953-8312-4bf5-8432-dfb9ba5779e5">A Pacific-theater practice round</h2><div type="image" title="A person in military fatigues with his face painted" height="1439" width="1920" msid="114913829" hostid="261" sizebytes="45924"></div>As tension builds in the Indo-Pacific region, the United States Army is training warfighters for combat if a conflict with China breaks out.BI's Graham Flanagan spent two weeks in Hawaii to document the Army's sprawling, $16 million war-games exercise across the island chain.<a target="_blank" href="https://www.youtube.com/watch?v=J5uY3JM-SLc">Watch the documentary here</a>.This week's quote:"We were appalled to hear the non-data-driven explanation you gave for Amazon imposing a 5-day in-office mandate."— Amazon employees in a signed letter to AWS CEO Matt Garman, <a target="_blank" href="https://www.businessinsider.com/amazon-employees-open-letter-aws-ceo-office-return-rto-2024-10">protesting his return-to-office comments</a>.More of this week's top reads:<ul><li>Amazon employees speak out about <a target="_blank" href="https://www.businessinsider.com/amazon-employees-react-jeff-bezos-washington-post-decision-leaked-messages-2024-10">Jeff Bezos's WaPo decision</a>.</li><li>Boeing's $21 billion share sale is an <a target="_blank" href="https://www.businessinsider.com/boeing-capital-raise-ecm-bankers-bonuses-wall-street-comp-expert-2024-10">early Christmas present for Wall Street</a>.</li><li>For high-flying businesspeople, Qatar Airways <a target="_blank" href="https://www.businessinsider.com/elon-musk-starlink-qatar-airways-productivity-bosses-video-call-meetings-2024-10">partnership with Starlink is a game changer</a>.</li><li>Microsoft updated its AI Copilot for consumers. <a target="_blank" href="https://www.businessinsider.com/microsoft-mustafa-suleyman-ai-copilot-update-reviews-2024-10">Some employees aren't impressed</a>.</li><li>Sports betting is the next frontier for <a target="_blank" href="https://www.businessinsider.com/quant-trading-susquehanna-sports-betting-2024-10">Wall Street's smartest quants to conquer</a>.</li><li>OpenAI is taking a page out of Big Tech's playbook by reportedly <a target="_blank" href="https://www.businessinsider.com/openai-chip-design-tsmc-broadcom-big-tech-nvidia-2024-10">building its own chips</a>.</li><li>Comcast is thinking of <a target="_blank" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">getting out of the cable TV business</a>.</li><li>LinkedIn thinks using AI could fix our hiring crisis — <a target="_blank" href="https://www.businessinsider.com/hiring-broken-linkedin-ai-fix-fewer-jobs-resume-spammers-2024-10">and help your career</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. Grace Lett, editor, in Chicago. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.</li></ul>

Insider Today: Big Tech battle royale

<ul class="summary-list"><li>Hewlett Packard Enterprise and Nvidia are teaming up to simplify generative-AI adoption.</li><li>The product integrates Nvidia AI computing with HPE's storage, computing, and cloud offerings.</li></ul>Companies see the <a target="_blank" href="https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai">potential of generative AI</a> in streamlining tasks and creating efficiencies across their businesses. But they don't always have the knowledge or resources to start using the technology.Hewlett Packard Enterprise and Nvidia recently announced a portfolio of AI solutions, called <a target="_blank" href="https://www.hpe.com/us/en/newsroom/press-release/2024/06/hewlett-packard-enterprise-and-nvidia-announce-nvidia-ai-computing-by-hpe-to-accelerate-generative-ai-industrial-revolution.html">Nvidia AI Computing by HPE</a>, to make it easier for companies of all sizes to adopt AI.Fidelma Russo, the chief technology officer and executive vice president of hybrid-cloud business at HPE, said the solution came about after the company learned that most of its customers were interested in <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-openai-ai-dictionary-help-understand-nvidia-2023-12">generative artificial intelligence</a> and wanted to implement it quickly. "But there are a lot of barriers to getting started quickly," she said.The product integrates Nvidia AI computing, networking, and software with HPE's AI storage, computing, and cloud offerings. Russo said it uses templates and a drag-and-drop experience to make it easy for users without expertise to develop AI models.The tool is in beta testing and set to be available in the fall, she said. Business Insider spoke with Russo about how the HPE-Nvidia product could help companies <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">overcome AI challenges</a>.The following has been edited for length and clarity.What pain points do businesses face when implementing AI?You have to get <a target="_blank" class="" href="https://www.businessinsider.com/ai-training-data-source-solutions-openai-meta-google-2024-4">a lot of data</a> together to feed this new technology — generative AI. That's one barrier. No. 2 is you have to figure out <a target="_blank" class="" href="https://www.businessinsider.com/how-companies-are-using-ai-generative-ai-daily-tasks-automation-2024-1">how to use the new technology</a>. And No. 3 is you have a lot of <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-plans-spend-more-ai-infrastructure-capex-earnings-azure-chips-2024-4">infrastructure</a> that you have to get set up.We can help eliminate a lot of those pain points with this product. It helps you bring together your data quickly with a number of the technologies that we have. It brings together our software assets so that you can get up and running fast with a few clicks. It helps eliminate a lot of the mistakes that you can make along the way by having the whole thing automated so that many of the human steps are taken out of the way.How does the product work?If you want to deploy a <a target="_blank" class="" href="https://www.businessinsider.com/deloitte-introduces-ai-chatbot-to-assist-staff-with-daily-tasks-2024-1">gen-AI chatbot</a>, for example, you typically have to decide what kind of model to use. You have to get all of your data together and all of your <a target="_blank" class="" href=" https://www.businessinsider.com/artificial-intelligence-data-privacy-on-premises-information-technology-solutions-2024-8">hardware and software</a>, including storage and graphics processing units, from somebody like HPE or Nvidia and set it all up. Maybe after six to nine months, you would have a trained model that's going to work.What we've done with Nvidia is have these pre-canned models, and they've been potentially pretrained. You bring along your own data and personalize it. Your chatbot or other AI model is up and running in a fraction of the time.It's driven by drag and drop and templates. It's very easy to use. You don't have to move your data; it can stay where it is. We have a data fabric that goes out and points to your data.We really focused on making sure this is easy for people to navigate and taking the mystery out of using these gen-AI models and getting you to what you're trying to do.What benefits does the product offer businesses?It's all-around productivity for businesses. The promise of gen AI is about getting usefulness from all of the data that everybody has across their business. It's using gen AI to take all the knowledge that companies have generated over many years and do the mundane activities very quickly — such as to increase <a target="_blank" class="" href="https://www.businessinsider.com/verizon-is-using-generative-ai-to-streamline-business-relationships-2024-7">customer service</a> or to help developers generate code faster.A company using the technology ends up with a significant competitive advantage within an industry. That's why they want to leverage gen AI.The data that companies have is so important. One of the hardest things about implementing gen AI is getting at your data, and we can help you access your data. This is one of the problems that we have solved to help customers get started on this journey.

A new AI portfolio from Hewlett Packard Enterprise and Nvidia could help companies adopt the tech faster — HPE's CTO shares how

<ul class="summary-list"><li>Amazon, Google, Meta, and Microsoft are expected to churn through $300 billion in capex next year.</li><li>The spending spree is driven by generative AI and LLM opportunities, says Morgan Stanley.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/amazon-employees-react-jeff-bezos-washington-post-decision-leaked-messages-2024-10">Amazon</a>, Google, Meta, and <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-hints-big-change-to-openai-investments-sec-filing-2024-10">Microsoft</a> are expected to invest about $300 billion in capital expenditures next year, and 2026 should be even bigger, according to new estimates by Morgan Stanley.Most of this capex is focused on fixed assets, such as data centers and real estate. These companies, called hyperscalers due to their vast cloud networks, are in a multiyear investment cycle of epic proportions as they chase opportunities in <a target="_blank" class="" href="https://www.businessinsider.com/google-earnings-q3-2024-new-code-created-by-ai-2024-10">generative AI</a> and <a target="_blank" class="" href="https://www.businessinsider.com/vcs-are-hedging-their-bets-backing-competing-llms-2024-10">large language models</a>, Morgan Stanley wrote in a note Tuesday."These high and rising capex numbers again speak to the importance of continued disclosure about new/incremental adoption, engagement, and revenue opportunities each of the four companies are seeing and investing in," the bank's analysts said.<a target="_blank" href="https://www.businessinsider.com/tech-earnings-takeaway-q3-ai-cloud-chips-amazon-meta-apple-2024-11">Big Tech earnings</a> last week showed huge demand for AI services. <a target="_blank" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">More data centers</a>, GPUs, networking gear, energy, and other infrastructure are needed to deliver this technology. That's driving eye-watering levels of spending. Earlier this year, Bernstein forecast Big Tech capex of more than <a target="_blank" href="https://www.businessinsider.com/big-tech-ai-spend-capex-1-trillion-2024-5">$1 trillion</a> over five years.In Morgan Stanley's new estimates, Amazon saw the largest increase in future spending. The bank's analysts raised their capex estimate for Amazon by 22%, to $96.4 billion in 2025. That increase will mostly be driven by more purchases of GPUs and servers for its data centers, they explained.In 2026, Amazon capex will climb even higher, to $105 billion, according to Morgan Stanley estimates. That leads the other tech giants, Microsoft, Google and Meta. All together, these four companies will invest $336.5 billion in capex in 2026, the bank forecast.Last week, Amazon's CEO Andy Jassy <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ceo-andy-jassy-even-more-bullish-ai-cloud-opportunity-2024-10">told analysts</a> that the company will continue to "aggressively" invest in AI."We've proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business," Jassy said. "And we expect the same thing will happen here with generative AI. It is a really unusually large, maybe once in a lifetime type of opportunity."Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

CHART: Big Tech is going wild on AI spending next year and beyond

<ul class="summary-list"><li>TeamViewer's Session Insights tool uses generative AI to summarize remote IT-support sessions.</li><li>The company, based in Germany, must ensure its AI features are secure, private, and GDPR-compliant.</li></ul>TeamViewer, a software-development company founded in 2005, is among the many <a target="_blank" class="" href="https://www.businessinsider.com/technology-executives-on-artificial-intelligence-applications-role-of-cto-cio-2024-9">businesses leaning into artificial intelligence</a>.Its AI technology has evolved, allowing clients to remotely access, control, monitor, and repair devices such as laptops, smartphones, tablets, and augmented-reality headsets. Clients use this to power IT support in areas such as customer service, <a target="_blank" class="" href="https://www.businessinsider.com/ar-headsets-logistics-warehouse-efficiency-productivity-benefits-2024-2">industrial manufacturing operations</a>, and inspections of specialized machinery.Mei Dent, TeamViewer's chief product and technology officer, joined the company last year. She oversaw the deployment of its first generative-AI product, Session Insights, which uses generative AI to summarize remote support sessions. The product launched at the end of October.Dent told Business Insider that collaboration with internal teams was crucial to implementing the technology across the company. She described the race for the best AI model as "heated" and said TeamViewer worked with third-party partners to leverage their strengths.The following has been edited for clarity and length.How does AI fit into your day-to-day workflow?My primary focus is building products like our remote connectivity solutions and Frontline products.AI is integrated across the company, not just in our customer-facing products but also for internal use in areas like research or code reviews.We have a strong data foundation, emphasizing <a target="_blank" class="" href="https://www.businessinsider.com/what-to-know-about-sec-cybersecurity-rules-and-guidance">data policies and governance</a>, especially due to <a target="_blank" href="https://www.businessinsider.com/what-is-gdpr-regulation-explained-2018-4">GDPR concerns in Germany</a>, where TeamViewer is based. Internal AI usage is governed by policies to protect confidential data, which also influences how we implement AI at the product level.Does TeamViewer place any one person in charge of the AI vision, or is the approach collaborative?It's a collaborative effort. Different departments use AI in ways that suit their specific needs. The marketing, sales, and development teams have different goals.Our legal and data teams provide overarching guidelines, but the adoption isn't top-down.TeamViewer just launched its first product powered by generative AI. Can you elaborate on it?We launched Session Insights, an add-on for our TeamViewer Remote and Tensor products. It uses generative AI to capture and summarize support sessions in a text-based log.Typically, support agents manually write up what occurred during a TeamViewer session, which can be time-consuming. Session Insights automates the process, generating detailed summaries that save time and improve accuracy.It also provides analytics to identify common support issues and help build knowledge bases for future use.How do you articulate the value generative AI brings? What are the specific metrics you're looking at?For Session Insights, we worked with our customers in beta to make sure we understood the business value and return on investment.At this point, I think any company can leverage a language model and see some "wow" factor. But we need to clearly articulate the business value.For a client providing support through TeamViewer, it means productivity gains. Can you take on more tickets? How much time can you save by not writing a summary?For the person receiving support, it means time to resolution: How long does it take for the person receiving support to be satisfied?You mentioned GDPR. How does TeamViewer ensure security and privacy when using generative AI in a product?We use a multitenant cloud. AI processing is confined within each tenant's environment, and administrators have full control over which sessions can use AI features. Customers can decide where and how their content is stored, ensuring data isn't intermingled.Users also need to be informed, so a notification lets them know when a session is being recorded or processed by AI.And we fully encrypt content and implement data anonymization before any AI processing to protect personally identifiable information, even within the same company.Does the company work with third-party partners to create new AI features, and if so, which companies?We don't develop our own AI models. We have a multipartner approach, working with partners like Google, OpenAI, Microsoft Azure, Meta, and so on. We evaluate which model is the best for quality and which is the most economical.

The race for the best AI model is 'heated,' a TeamViewer tech executive says — here's how the company is leveraging it

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

<ul><li>Growing <keyword id="1435752" type="General" weightage="20" keywordseo="cloud-adoption" source="Orion">cloud adoption</keyword> will further drive the usage of <keyword id="572745" type="General" weightage="20" keywordseo="virtualization" source="Orion">virtualization</keyword> globally and in India. </li><li> According to the World Economic Forum, virtualization will save up to 25% of enterprises’ tech budgets by 2025. </li><li>Application virtualization is predicted to make great strides in the next couple of years.</li></ul>The last two years have crunched every budget and forced every strategy to ensure fast adoption of digitization. Businesses that are not digital yet, may not survive for much longer. The cloud is the new enterprise terra firma. As the cloud becomes an inseparable part of every organization’s growth strategy, virtualization is the path that everyone needs to take, especially organizations with a legacy as well as modern IT infrastructure, that need to ensure that there is no distinction between traditional virtualization platforms and modern container-based platforms. The biggest driver for this growth will be the global shock that enterprises received when the world came to a standstill for two years- and the only saving grace for a disaster recovery plan, to allow for business continuity, was migrating data and all business processes to the cloud. Sajith Chakkingal, Head of Global Technology Services &amp; India Technology Centre, TMF Group - a global services firm, believes that cloud will be a key driver of growth for virtualization. “Virtualization will continue to play a vital role globally and for Indian enterprises. Historically, since the time bare-metal became less of a priority for organizations, virtualization has helped reduce capex, opex and downtime while improving productivity and agility for organizations. I believe that virtualization is set to grow further as cloud services adoption grows. Cloud is nothing but virtualization in the background.” The advantages of the cloud are everyday knowledge for anyone associated with technology in any industry. Businesses can survive only if their data and team collaboration interfaces are on the cloud, where information that is critical for smooth operations can be accessed by all employees. With a huge surge in services that can be delivered from the cloud, its adoption has increased manifold, taking its basic process- virtualization- with it. Data Speaks In totality, the demand for software that enabled these solutions is expected to double by 2025. According to Resreachandmarkets.com’s report - “Virtualization Software Market - Growth, Trends, Forecasts (2020 - 2025)”, ‘ the Virtualization Software Market was valued at $14.69 billion in 2019 and is expected to reach $33.76 billion by 2025, registering a CAGR of 15.2%, during this period. In this period, India’s spending on public cloud services reached $3.6 bn, and that is expected to grow to $9.5bn by 2025, maintains market research by IDC. In a more recent 2022 TechTarget/Computer Weekly IT priorities survey, this data was re-iterated when more than 65% of IT leaders across enterprises in India confirmed that their enterprises were cloud-first, meaning they had fully adopted IoT and all other cloud-based tools to ensure seamless customer experience. World Economic Forum figures say that virtualization will save up to 25% of enterprises’ tech budgets by 2025. Even more interestingly, with the adoption of the cloud and virtualization of enterprise processes, globally about 50% of energy costs can be saved in the same period, cutting down 180 million tons of carbon emissions, leading to $15 billion as savings for customers. This data is a clear indication of how increasing virtualization will impact the enterprise world in the coming years. Having said that, while server virtualization has been adopted by almost 95% of the businesses, there are some forms of the technology that are still not quite there. The next wave of growth, says Chakkingal, will be around application virtualization. “With the adoption of desktop and network virtualization maturing, application virtualization will go through a phase of double-digit growth in the next couple of years,” he says. The future of virtualization Storage virtualization (software-defined storage) is up ahead in terms of adoption with almost 40% of all enterprises having adopted it (according to a Spiceworks research), application and desktop virtualization are catching up slowly, and network virtualization (SDN or software-defined networking) is lagging still. Clearly, in the coming months, these will get a bigger focus as far as the adoption of technologies is concerned. While most organizations have been able to at least set a roadmap for complete digitization, many continue to grapple with multiple infra assets. It’s a challenge to do that without stretching their IT resources, and one of the solutions is composable disaggregated infrastructure (CDI). It helps to silo the hardware into resource pools that are easier to manage and allow for handling different kinds of workloads ranging from pure virtual machines to bare metal. Even though containerized applications are still around, virtualization platforms will be playing a growing role in application delivery soon, albeit in modified forms to suit consumer needs – the ability to handle increasingly innovative applications as well as addressing the need for increased flexibility and security. Safe to say that over the next few years, virtualization will grow from strength to strength, though it will be continuously evolving to meet changing market needs- agility, flexibility, and portability across newer infrastructure, modernization, cloud maturity, or even security advancements. The bottom line will be virtualization as technology will evolve, change, and modify itself to meet the core needs of the erstwhile cloud- which of course, is the future of all enterprises. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spicejet-gets-showcause-notice-from-regulator-for-failing-to-establish-safe-air-service/articleshow/92701004.cms">SpiceJet gets showcause notice from regulator for failing to establish 'safe air' service</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/cleantech-market-could-surpass-the-value-of-oil-market-in-2030/articleshow/92702121.cms">By 2030, cleantech market could surpass the value of oil market</a>

Cloud adoption is growing and it will drive virtualization too

<ul class="summary-list"><li>Pure Storage provides cloud-storage systems to over 11,000 customers.</li><li>It uses AI to help automate and enhance security, finance processes, and product development.</li></ul>For "CXO AI Playbook," Business Insider takes a look at mini case studies about AI adoption across industries, company sizes, and technology DNA. We've asked each of the featured companies to tell us about the problems they're trying to solve with AI, who's making these decisions internally, and their vision for using AI in the future.Pure Storage has been providing cloud-storage systems for more than a decade and is trusted by some of the world's largest organizations, such as ServiceNow and Domino's Pizza. It uses generative AI to help make its 2,000 engineers even more efficient.<h2 id="ec04abf8-6dc5-4015-93f4-02f9ad5ed95c">Situation analysis: What problem was the company trying to solve?</h2>Pure Storage was founded in 2009 and, according to its website, serves over 11,000 global customers. As a result, it has extensive institutional knowledge in providing data storage to companies.However, making use of that knowledge across complex business processes was a challenge, Ratinder Paul Singh Ahuja, the company's chief technology officer for security and networking, told Business Insider.That changed with the popularization of generative-AI platforms in 2022. "I could see how this could be used in a number of business processes," Ahuja said. "We put together a company-level initiative to do what we call a generative-AI-powered enterprise."<div type="image" title="Ratinder Paul Singh Ahuja, the CTO of Pure Storage" height="1098" width="1458" msid="111691307" hostid="261" sizebytes="66392"></div>Ahuja said the company considered several options for deploying generative artificial intelligence, such as using it to sift through queries, support its internal help desk, or help the company's finance arm.But the most pressing improvement Ahuja wanted to make was speeding up and bolstering the checks his security team carried out. He quickly hit upon two key areas where AI could help.Normally, his development, security, and operations program would have to sit through design discussions with company teams and try to find security issues to fix before rolling out products. It was laborious and time-consuming.The security team at Pure Storage would also be overwhelmed by threat announcements — when providers of hardware or software used by companies, including Pure Storage, announce they've found vulnerabilities in their code that need fixing. But these reports are often for products not used by Pure Storage or don't affect them, so filtering through the announcements is hard.<h2 id="d702a117-49b9-49d5-88a7-7de508c675b9">Key staff and partners</h2>The process of implementing these uses of AI was led by Ahuja, who demonstrated the early examples to the executive team at Pure Storage.He said that at Pure Storage, the office of the technology officer had more freedom and ability to explore new technologies than the IT department: "They kept it under the office of CTO, as opposed to IT services, just because the field is changing rapidly, and we wanted to have the ability to not be rigidly covered by an IT process."<h2 id="5779d2e8-4b73-42e7-a5d1-d9b90f413fca">AI in action</h2>In its security department, Pure Storage now uses a generative-AI tool that was trained with Ahuja's presentation slides and knowledge about modeling threats — similar to the way a human staff member would be trained on best practices. "This GPT can now be cut and pasted as a picture of a design, any documentation or code you have written, and it will walk through the STRIDE methodology," Ahuja said, referring to a standard threat-modeling methodology that stands for spoofing, tampering, repudiation, information disclosure, denial of service, and elevation of privilege.Other Pure Storage teams, not just security, can use the program, meaning they don't have to wait for a security specialist to become free to check their plans.The generative-AI tool scanning the vast volumes of threat announcements and warnings can quickly triage what human security professionals need to pay attention to and what they can ignore. The tech analyzes the threat feed and asks what class of system is affected and which signs to look for to detect the issue. "Then it queries our asset database, and says, 'Do we have this class of systems? Should I even worry about it?" Ahuja said. If the answer is yes, it'll continue to analyze until it's convinced it needs to flag a human, he said.<h2 id="ccb3b76e-1e17-4dd4-8699-7ed00002b15c">Did it work, and how did leaders know?</h2>Pure Storage's AI model is designed to poke holes in new features, products, or services, probing for weaknesses that cybercriminals could exploit. "What used to take a couple of weeks is now an hour's job, with the bot guiding the different teams through the STRIDE methodology," he said. "This is really popular with our engineering teams because they don't have to wait for a security expert."Meanwhile, Ahuja said, the triaging tool is so helpful it's as if the security-operations team has added another worker: "This is really powerful. You could not keep up. They were constantly underresourced."<h2 id="c3092f72-433a-422a-ac8a-da8ccd2cd4a5">What's next?</h2>Ahuja wants to layer AI on top of Pure Storage's products. "Gen AI is really good at analyzing configurations — it's very good at generating code," he said. "If you look at Pure Storage and many other vendors, we put out complex systems, and you have to configure them."He believes generative AI can help automate large parts of that process.We want to hear from you. If you are interested in sharing your company's AI journey, email <a target="_blank" href="mailto:jhood@businessinsider.com">jhood@businessinsider.com</a>.

A cloud-storage company is using AI to save employees weeks of cybersecurity-threat work

<ul class="summary-list"><li>Software stocks have been slammed this year after a long period of strong performance.</li><li>Meanwhile, hardware stocks are reaping the benefits of the AI boom as their profits soar. </li></ul>The <a target="_blank" href="https://www.businessinsider.com/category/generative-ai">fast-growing adoption of generative artificial intelligence </a>has shaken one of Wall Street's most successful tech trades over the past decade.Software stocks, known for their high profit margins and asset-light business models, have consistently outperformed their asset-heavy and lower-profit hardware counterparts since 2014.The NYSE Arca Computer Hardware Index is up 312% over the past 10 years, compared to a gain of 576% for the Dow Jones US Software Index over the same period.But that dynamic has been flipped on its head this year as companies race to buy AI-enabled GPU chips from hardware providers, including <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/amd-stock">AMD</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/smci-stock">Super Micro Computer</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/avgo-stock">Broadcom</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/dell-stock">Dell</a>.Year-to-date, hardware tech stocks are outperforming software tech stocks by a whopping 30 percentage points.<div type="image" title="AI tech stocks" height="695" width="968" msid="111022757" hostid="261" sizebytes="21194"></div>Software stocks, including <a target="_blank" href="https://markets.businessinsider.com/stocks/mdb-stock">MongoDB</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/crm-stock">Salesforce</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/snow-stock">Snowflake</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/wday-stock">Workday,</a> have been slammed this year after their earnings results failed to convince investors that AI-fueled profits are imminent.<h3 id="f24f117e-ae12-4209-b78b-9897b9f4227f">It's hard to monetize AI as a software company</h3>The dynamic at play, according to Baird managing director and tech strategist Ted Mortonson, is reflective of the fact that software companies are having difficulty monetizing AI while <a target="_blank" href="https://www.businessinsider.com/nvidia-impact-q1-earnings-season-ai-nvda-stock-price-capex-2024-5">hardware companies enjoy booming business.</a>"This GenAI cycle is infrastructure, all infrastructure," Mortonson told Business Insider this week. "The cloud titans are now spending $200 billion this year, which is up 50% on data centers. That's the horsepower, or the engine of Gen AI."Mortonson said that while hundreds of billions of dollars are being spent on expensive GPUs to develop large language models, there are few applications that can deliver a significant return on investment for software companies and their customers."30% of the Fortune 500 have moved to the cloud. 10% of that are Gen AI capable. So, we have a long way to go for software and an acceptable return on invested capital to materialize. That's why you're not seeing it in software. There is no return on invested capital because there's no applications. So, you're building the car and the engine, but you have no passengers in software," Mortonson said.Mortonson explained that one of the key challenges for companies to make good use of generative AI technologies is the need to organize and structure their data in a format that can be understood by Gen AI.That process can take 15 months at minimum, and based on Mortonson's recent conversations with software-focused tech executives, very few of them have even started the process."It's not going to happen until late 2025 to 2026. It's just not there. It's a nothing burger," Mortonson said.<h3 id="447158ca-ac5c-4aa2-a4f0-4112e8df0ac7">IT budgets are tight</h3>Software companies are also dealing with tight IT budgets as their customers reprioritize their spending away from software and towards GPU hardware."Major corporations realize that AI is a 'must get it right' proposition, and as a result are overweighting semis and hardware spend, at the expense of software spend currently. We expect this to continue for the foreseeable future," strategist Larry Tentarelli of Blue Chip Daily told Business Insider."Every body is scrutinizing on the SaaS side, every single seat, because IT budgets are so tight right now," Mortonson said.This dynamic means that hardware stocks will continue to outperform software stocks through 2025, according to Mortonson."We're in a mini hype cycle. This is the bottom line, until we can get the infrastructure tuned, reduced costs and the applications are designed to work off this next-generation architecture. Until that happens and the data is migrated, the enterprise software GenAI will not materialize," Mortonson said. "The cart is in front of the horse as it relates to GenAI software. There's just no applications."Steve Eisman of "The Big Short" fame told CNBC this week that he, too, expects hardware stocks to continue their outperformance relative to software shares."The moats that some of the software companies, not all but some, have around their businesses are not going to be quite as high. You can make an argument that the revaluation of hardware is going to continue and that some parts of software will derail," Eisman said.

The AI boom is unraveling the most dominant tech trade of the last decade

A significant percentage of companies in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> believe the advent of 5G will herald a transformative era in the world of work, unlocking a wealth of opportunities for India's tech talent pool, says a report. According to the report by staffing company <keyword id="6381892" type="General" weightage="80" keywordseo="teamlease-services" source="Orion">TeamLease Services</keyword>, over 80 per cent of respondents believe that IT and banking and <keyword id="6354241" type="General" weightage="50" keywordseo="financial-services" source="Orion">Financial Services</keyword> will benefit from the 5G technology in terms of job creation and upskilling. The report titled "India's 5G rollout: Revolutionising the People Supply Chain" is based on responses of over 247 companies on the impact of 5G on the ecosystem and employment generation. "With substantial investments, such as the PLI scheme allocating Rs 12,000 crore to the telecom sector, with approximately 25 per cent dedicated to creating new jobs, we are poised for a positive outlook on job creation and upskilling," TeamLease Services CEO - Staffing, Kartik <keyword id="6386349" type="General" weightage="80" keywordseo="narayan" source="Orion">Narayan</keyword> said. This will boost confidence to harness the potential of 5G, creating unprecedented job opportunities, driving innovation and shaping a transformative future, he added. The adoption of 5G will have significant impact on industries such as <keyword id="6356925" type="General" weightage="50" keywordseo="bfsi" source="Orion">BFSI</keyword> (60 per cent), education (48 per cent), gaming (48 per cent) and retail and e-commerce (46 per cent), the report said. On a year-on-year basis, 46 per cent of participants anticipate job creation ranging from 61 per cent to 80 per cent within the first year of 5G implementation. "Telecommunications companies embracing 5G solutions present a promising growth opportunity. As telcos leverage the potential of 5G in network upgradation, migration, IoT/IIoT, mobility, network infrastructure, and network security, we anticipate increased hiring for specialised roles," Narayan said. This advancement creates new opportunities and drives demand for roles such as technical content writers, networking engineers, AI/ML professionals, UX designers, cloud computing engineers, cybersecurity specialists, data science and analytical experts and more, he added. The report, however, noted that the telecom industry is facing a considerable demand-supply gap of 28 per cent, which emphasises the urgent need for comprehensive upskilling and reskilling initiatives. Encouragingly, 88 per cent of employees expressed a preference for upskilling, indicating a strong desire to enhance their existing skill sets, the report said. Additionally, 11.2 per cent of employees showed a preference for reskilling, presenting significant opportunities in the job market for fresh talent, it added. The report also highlighted the impact of 5G on job creation over the next few years, with 41 per cent of respondents expecting an impact of more than 80 per cent on job creation over the next three years of 5G rollout. According to Narayan the impending 5G rollout is expected to lead to an 80 per cent increase in tech-related jobs. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/ev-stocks-on-the-radar-these-five-rode-the-electric-vehicle-rally-in-the-last-year/slidelist/101011986.cms">EV stocks on the radar – These five rode the electric vehicle rally in the last year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-bard-cool-things-you-can-do-with-the-ai-chatbot/articleshow/101012445.cms">Google Bard: Cool things you can do with the AI chatbot</a>

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Cloud adoption is growing and it will drive virtualization too

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