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More than 40 per cent of <keyword id="20081234" type="General" weightage="20" keywordseo="consumers" source="keywords">consumers</keyword> in Tier 3 to 6 cities use <keyword id="19994585" type="General" weightage="20" keywordseo="digital-payment" source="keywords">digital payment</keyword> on a daily basis, while 45 per cent claimed to use it once in two days, a new survey report has said. "This reflects the frequent usage of <keyword id="6358577" type="General" weightage="20" keywordseo="digital-payments" source="Orion">digital payments</keyword> by consumers, even in Tier 3 to 6 locations of the country," said a report by Chase India on The State of Digital Payments in India. The report identifies the key challenges faced by <keyword id="20442209" type="General" weightage="20" keywordseo="merchants" source="keywords">merchants</keyword> and consumers in the adoption of digital payment services at the grassroots level. According to the report, nearly half of the merchants who are not using digital payments in rural India are unaware of the service. In contrast, a staggering 94 per cent of consumers who are not using digital payments are aware of it but still don't use it, as they face issues like lack of internet connectivity, limited knowledge, mistrust in online payments and service-related problems. The report added that around 74 per cent of consumers claimed to be using digital payment services for a transaction a family member made. The report said around 41 per cent of merchants claimed to receive less than 25 per cent of their sales through digital payments, around 15 per cent of merchants claimed to receive over 50 per cent of their sales through digital payments. "This shows the potential left to be tapped with respect to increasing the usage of digital payments at the grassroots level," the report said. A total of 2,240 respondents were surveyed for the report, including 1,184 consumers and 1,056 merchants, spread across 16 districts, covering eight states in different geographic zones of the country. The report also said that lack of awareness about digital payments was a crucial finding. Around 46 per cent of merchants had never used digital payments because they were unaware of it. The survey revealed that, on average, around 36 per cent of merchants claimed to be processing over 50 digital payment transactions every month. Also, around 23 per cent of merchants claimed to be processing not more than 1 digital payment transaction every alternate day. Most merchants process digital payment transactions of less than Rs 15,000 every month. Only a handful of merchants claimed to process digital payments of over Rs 1 lakh. The main challenges that hinder the adoption of digital payments were inadequate infrastructure, service-related issues, capacity constraints and lack of trust in digital Payments, it said. "KYC is a vital step in onboarding merchants for using digital payments services. However, the survey discovered that nearly one in three merchants faced difficulties in completing the KYC process due to a lack of requisite documents, capacity constraints and the time taken for onboarding, among other reasons," the report said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Over 40% consumers use digital payment every day in Tier 3-6 cities: Report

Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality. The report highlights that the surge in job applications is largely for roles such as Sales &amp; Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring. "SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers. Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce. As SMEs and MSMEs continue to grow, the <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target. (With inputs from PTI)

Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

<ul class="summary-list"><li>X, previously known as Twitter, plans to trial three premium service tiers for users, per <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-10-05/x-tells-bankers-that-advertisers-are-back-but-spending-less">Bloomberg</a>.</li><li>Users would be charged differently based on the number of ads shown.</li></ul><a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/category/elon-musk">Elon Musk's</a> X could roll out three tiers of premium service for users, <a target="_blank" class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-10-05/x-tells-bankers-that-advertisers-are-back-but-spending-less">Bloomberg</a> reported on Thursday, citing information from a person who attended the company's briefing call with debt holders on the same day.The individual told Bloomberg that X, formerly known as Twitter, is planning to trial three different premium tiers — Basic, Standard, and Plus.Bloomberg reported that each tier would be priced based on the number of ads shown to customers.The <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/guides/tech/twitter-blue">premium plan for X</a> currently costs eight dollars a month, per the platform's <a target="_blank" class="editor-rtfLink" href="https://help.twitter.com/en/using-x/x-premium#tbwhat">website</a>. Subscribers can <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/twitter-blue-users-paying-stay-verified-hit-by-blocktheblue-campaign-2023-4">get a blue checkmark </a>for their X account and have early access to new features, like the ability to <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/guides/tech/how-to-edit-a-tweet">edit their posts</a>.This would not be the first time the platform has considered making adjustments to its payment plans.Last month, Elon Musk told Israel's prime minister, Benjamin Netanyahu, during a <a target="_blank" class="editor-rtfLink" href="https://twitter.com/netanyahu/status/1703806204894498966">livestream</a> that X might <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/elon-musk-x-twitter-paywall-for-everyone-2023-9">roll out a paywall for all its users</a>."We are actually going to come up with a lower-tier pricing. We want it to be just a small amount of money," Musk told Netanyahu. "It's a longer discussion, but this is actually the only defense against armies of bots."The billionaire has introduced a <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/elon-musk-twitter">flurry of changes</a> to the platform since he <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/elon-musk-twitter-reach-agreement-to-close-acquisition-deal-2022-10">bought it in October 2022</a>. Musk has been focused on putting the company on a path toward profitability, given the decline in the platform's advertising revenues.In July, the billionaire said in an <a target="_blank" class="editor-rtfLink" href="https://twitter.com/elonmusk/status/1680082007873953794?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1680082007873953794%7Ctwgr%5Ef6a91686ea966660124f90ca9a64f88885d5d2de%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.businessinsider.com%2Felon-musk-twitter-still-losing-money-heavy-debt-advertisers-flee-2023-7">X post</a> that the company was in a challenging financial position."We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk said in his post. "Need to reach positive cash flow before we have the luxury of anything else."Representatives for X did not immediately respond to a request for comment from Insider sent outside regular business hours.

Elon Musk's X could introduce 3 different tiers of premium service for users: Bloomberg

<ul class="summary-list"><li>There are signs across AI models, chips, and new form factors that the market is getting frothy. </li><li>OpenAI will need to generate big returns to justify its record funding round. </li></ul>In years to come, Silicon Valley may view the events of the past few weeks as the moment the generative AI boom got too frothy. Investors spent the summer wondering if top AI stocks could continue to justify soaring valuations in the face of absent returns from their massive AI spending. Now, signs have emerged that they're not yet done with generative AI mania.As September rolled into October, some of the most significant investment areas in AI received fresh votes of confidence — be it in the chip space, the large language model arena, and devices. But there could be reason to feel cautious about the latest developments.<h2 id="8762485c-f284-4cce-bb0b-d0a9fc3e804e">The Nvidia rival with just one main customer</h2><div type="image" title="Andrew Feldman sits on a stage in casual clothes speaking and gesticulating wearing a head mic in front of a purple background that say &quot;Collision.&quot;" height="4067" width="6192" msid="113963114" hostid="261" sizebytes="1252132"></div>Cerebras, a chip startup, included an eyebrow-raising detail in its <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/2021728/000162828024041596/cerebras-sx1.htm#i6a62fccbc8aa4fa39c22dbb7af1721b1_159">IPO prospectus</a>. But first, here's a quick primer on the Sunnyvale-based company. Founded in 2015, Cerebras aims to accelerate AI development by designing processors to train and deploy smarter LLMs. It believes these processors, among other offerings, can compete with the <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-competition-sambanova-groq-cerebras-show-faster-inference-speed-2024-9">powerful chips sold by Nvidia.</a>That's no walk in the park. Nvidia has emerged as one of the biggest winners of the generative AI boom, having grown from a market capitalization of $364 billion at the start of 2023 to over $3 trillion.As things stand, however, Cerebras' plan to take it on involves generating the vast majority of its revenue from just one customer: Abu Dhabi-based AI firm G42.According to its IPO prospectus, Cerebras — backed by investment firms such as Altimeter, Benchmark, and Coatue — generated 83% of its $78.6 million revenue in 2023 and 87% of the $136.4 million revenue generated in the first half of 2024 from G42.Founded in 2018, G42 has emerged as one of the Middle East's biggest AI opportunities. Abu Dhabi's sovereign wealth fund, Mubadala, owns a stake, <a target="_blank" class="" href="https://www.businessinsider.com/satya-nadella-microsoft-ai-kingpin-g42-openai-china-2024-4">as do Microsoft and the private equity firm Silver Lake</a>. There appears to be reason to work with G42, then, but by Cerebras' admission, an "adverse" change in the relationship could harm the chip firm.While Cerebras has sought to strengthen its customer base — it reached an <a target="_blank" href="https://cerebras.ai/press-release/aramco-and-cerebras-sign-a-mou-to-accelerate-the-deployment-of-ai">agreement with oil giant Saudi Aramco</a> in September — its revenue concentration will weigh on investors as it aims to raise $1 billion in its public listing at a $7 billion to $8 billion valuation, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-25/cerebras-systems-targets-raising-up-to-1-billion-in-ipo">per Bloomberg.</a><h2 id="8dead263-a80c-43a0-8d82-0b8327f3078f">OpenAI reaches dizzying new heights</h2><div type="image" title="OpenAI" height="4235" width="6352" msid="113963111" hostid="261" sizebytes="339146"></div>Warning signals emerged elsewhere as OpenAI shook up the market for LLMs on Wednesday by closing the most valuable funding round in Silicon Valley history.While the ChatGPT maker announced that it had raised $6.6 billion at a $157 billion valuation from a series of new and existing investors, it did so with a few notable asterisks.For one, <a target="_blank" href="https://www.ft.com/content/66e0653e-c446-47b2-8a7f-baa54ccbfb9a?accessToken=zwAAAZJOTf4Kkc9m4GU-xEZHstOKf7qlTMv7mg.MEUCIEJBi-VbRpNb9MIo2y24cDg8XwZ1lH2wIV_Kc-UGHtCBAiEA8JUYYonEqynzl_Wyz-3pPnT4q23D5MCTtg0M0CZ25ak&amp;segmentId=e95a9ae7-622c-6235-5f87-51e412b47e97&amp;shareType=enterprise&amp;shareId=b484077e-9f3e-4aef-a08b-93a56609306a">per the Financial Times</a>, OpenAI has asked its investors not to back its rivals, which include Anthropic, Elon Musk's xAI, and Safe Superintelligence (SSI), the startup founded in June by OpenAI's former chief scientist, Ilya Sutskever.While it has the right to do this, the ask is unusual in the world of startup investing, where venture capitalists often spread their bets. Gary Marcus, a professor who testified next to OpenAI's Sam Altman at a Congress hearing in 2023, described the move as OpenAI <a target="_blank" href="https://x.com/GaryMarcus/status/1841923594324246947">"running scared."</a> David Sacks, general partner at Craft Ventures, called the ask a "shady" one. "The mask is really coming off," <a target="_blank" href="https://x.com/DavidSacks/status/1841561582918332869">he wrote on X.</a>It is also worth taking a closer look at some of the investors in its latest round. As my colleague <a target="_blank" class="" href="https://www.businessinsider.com/openai-investors-softbank-ark-tiger-global-2024-10">Darius Rafieyan noted earlier this week</a>, some of the most "prolific bubble chasers" — investors with a track record of betting on companies close to their peak — now count themselves as OpenAI backers. Think SoftBank, the Japanese conglomerate that burned billions of dollars on WeWork, and Tiger Global, an investment fund that <a target="_blank" href="https://www.businessinsider.com/tiger-global-hedge-fund-cut-back-fundraising-2023-7">suffered brutal losses in recent years</a> after going on huge startup betting sprees.This has taken place against a backdrop of wider challenges. OpenAI no longer has a chief technology officer after Mira Murati quit the firm late last month, becoming the latest top-tier executive to depart.The company has also been battling to reverse its lossmaking operations. According to a September report from <a target="_blank" href="https://www.nytimes.com/2024/09/27/technology/openai-chatgpt-investors-funding.html">The New York Times</a>, OpenAI's monthly revenue grew to $300 million in August —but it has projected $5 billion in losses this year.<h2 id="56ba4bee-c3d5-4e63-9a9e-123f8061e53d">AI's new form factors get a Meta push</h2><div type="image" title="Mark Zuckerberg wearing Orion glasses" height="3189" width="4791" msid="113963106" hostid="261" sizebytes="566084"></div>The other notable sign of market frothiness came as Mark Zuckerberg unveiled a bold new wearable device for the AI era: <a target="_blank" class="" href="https://www.businessinsider.com/meta-orion-quest-vr-headset-wearable-mark-zuckerberg-analysts-explained-2024-9">Meta's Orion.</a>The augmented reality glasses, introduced at the company's Connect conference in late September, put AI front and center by embedding the technology in a way that "can sense and understand the world around you," <a target="_blank" class="" href="https://about.fb.com/news/2024/09/introducing-orion-our-first-true-augmented-reality-glasses/">according to Meta.</a>While they have impressed — Nvidia CEO Jensen Huang gave a glowing endorsement of the wearables in a promotional video, and <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-impressed-wall-street-with-meta-connect-2024-9">Meta's stock responded positively after the event</a> — there are a few matters to consider beyond the hype for it.The first is cost. <a target="_blank" href="https://www.theverge.com/24253908/meta-orion-ar-glasses-demo-mark-zuckerberg-interview">According to The Verge's Alex Heath</a>, who spoke to Meta executives, the cost of building a single Orion unit at present is a steep $10,000.Even if that cost can be brought down — something Orion lead Rahul Prasad told The Verge would be a focus of the device's next development phase — Meta will need to contend with the fact that appetite for these wearables hasn't exactly impressed in the past.Meta rival Snapchat took a go at introducing glasses to the market in the mid-2010s but failed to make a splash after <a target="_blank" href="https://www.businessinsider.com/snap-is-doing-something-i-havent-seen-since-the-1970s-2016-9">incurring a $40 million loss on them</a>. It is taking another crack with AI-embedded eyewear, <a target="_blank" href="https://newsroom.snap.com/sps-2024-spectacles-snapos?lang=en-US">announcing a partnership last month with OpenAI</a> to embed its tech.Other form factors for AI that have emerged recently, such as the Humane AI pin that launched in April and the pocketable rabbit R1 introduced in January, have largely flopped, too.Where does this leave us? In short, a lossmaking startup must justify its $157 billion valuation. A chip firm worth up to $8 billion must persuade investors not to worry about its undiversified revenue streams. Meta will need to convince consumers to switch to another way of interacting with AI entirely. All of these things may come to pass. If so, this will be seen as a juncture where AI goes on to truly revolutionize the industries it touches — and repay the faith of investors. But if history is anything to go by, the high-stakes tech world is rarely plain sailing.

There are 3 signs that generative AI might be reaching peak market froth — and it's not just OpenAI

The country's <keyword id="21969771" type="General" weightage="20" keywordseo="airport-industry" source="keywords">airport industry</keyword> is projected to report a <keyword id="20385116" type="General" weightage="20" keywordseo="profit-before-tax" source="keywords">profit before tax</keyword> of <keyword id="21969772" type="General" weightage="20" keywordseo="USD-1-3-billion" source="keywords">USD 1.3 billion</keyword> in the current financial year. The profit is anticipated to be Rs 256.1 (USD 3.1) per passenger in the fiscal ending March 2025, aviation advisory firm CAPA India said while giving projections at its <keyword id="21969773" type="General" weightage="20" keywordseo="aviation-summit" source="keywords">aviation summit</keyword> in the national capital on Friday. In the current fiscal, <keyword id="21969774" type="General" weightage="20" keywordseo="passenger-throughput" source="keywords">passenger throughput</keyword> at Indian airports is estimated to rise to 404.9 million. Out of the total, 81.1 per cent will be domestic and 18.9 per cent will be international traffic, it said. As per the report, the <keyword id="20006900" type="General" weightage="20" keywordseo="Airport-Authority-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Airport Authority of India" meta.hostid="261" meta.entityid="Airport Authority of India">Airport Authority of India</keyword>'s (AAI) profitability is likely to remain robust in FY2024 and FY2025. "The topline will grow due to an increase in aeronautical revenue along with the receipt of revenue share from the recently privatised six non-metro airports, without having to incur any expense associated with it - resulting in higher profitability," it added. The industry's profit before tax is expected to be USD 1.3 billion in this fiscal. "India's airport operators are forecast to register Rs 359.8 billion (USD 4.3 billion) in revenue for FY2025, representing a growth of 14.8 per cent y-o-y from FY2024," CAPA India said. Noting that airport infrastructure at metros and non-metros is ahead of demand, it said there is an ongoing USD 11 billion pipeline of investment, including in Tier 2 and Tier 3 airports. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank">Computex 2024: Intel Debuts Lunar Lake Chips With Focus On Microsoft’s AI Ambitions For PCs</a><a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank">May Auto Sales – Tata Motors and Hyundai continue to fight for the second spot as car sales grow by 4%</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank">Upcoming cars and two-wheelers launching in India in June 2024</a>

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Over 40% consumers use digital payment every day in Tier 3-6 cities: Report

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Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

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Elon Musk's X could introduce 3 different tiers of premium service for users: Bloomberg

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There are 3 signs that generative AI might be reaching peak market froth — and it's not just OpenAI

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Airport industry to see profit before tax of $1.3 billion this fiscal

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