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<ul class="summary-list"><li>Nvidia CEO Jensen Huang says product shortages are making customers emotional.</li><li>Demand for Nvidia's AI chips, including the Blackwell line, has surged, straining suppliers.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9">Nvidia </a>CEO Jensen Huang said that a shortage of his company's products is making customers "emotional" and that things are tense.Huang, <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8">dubbed the King of AI</a>, said the demand for Nvidia's products is so high because everyone wants to get them first — and they want a lot. It's making things tense with customers despite the company's best efforts, he said at a <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ceo-jensen-huang-details-ai-infrastructure-roi-goldman-sachs-2024-9">Goldman Sachs tech conference</a> in San Francisco on Wednesday."We have a lot of people on our shoulders, and everybody is counting on us," Huang said. He added, "Demand is so great that delivery of our components, our technology, infrastructure, and software is really emotional for people."The CEO added that while demand for Nvidia's latest line of chips, <a target="_blank" class="" href="https://www.businessinsider.com/nvidias-jensen-huang-blackwell-ai-chip-will-hit-market-2024-5">Blackwell</a>, has soared, suppliers to which the company has outsourced hardware production are catching up.Demand for Nvidia's graphics processing unit has skyrocketed as companies and countries scramble to secure supplies to improve their AI capabilities."We probably have more emotional customers today. Deservedly so. It's tense. We're trying to do the best we can," Huang said.As one of the few players in this space, Nvidia has a stronghold on anyone looking to accelerate their business or economy using AI models. These <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-plan-double-triple-data-center-capacity-2024-4">AI models need to be trained on large piles of data</a> and then fine-tuned carefully, which takes thousands of <a target="_blank" rel="" href="https://www.businessinsider.com/gpu-rich-vs-gpu-poor-tech-companies-in-each-group-2023-8">GPUs</a>, creating pressure on chip demand.In August, Nvidia sparked worries that its next generation of AI chips, <a target="_blank" rel="" class="" href="https://www.businessinsider.com/nvidia-ceo-jensen-huang-unveils-next-generation-ai-chip-blackwell-2024-3">Blackwell</a>, would be delayed by two to three months. The delay meant that shipments would be pushed to the first quarter of 2025 instead of later this year, affecting customers including <a target="_blank" rel="" class="" href="https://www.businessinsider.com/nvidia-big-tech-earnings-week-early-winner-ai-microsoft-2024-7">Meta, Microsoft, and Google</a>, and smaller cloud firms, which have built their businesses on Nvidia chips.On an earnings call last month, Huang promised that the company would ship out billions of dollars worth of Blackwell GPUs by the fourth quarter — a metric that analysts said was vague. While Nvidia executives on the call remained unclear about the gains expected from the Blackwell chip, they managed to temper most concerns around the shipment delays.Analysts and experts have previously noted that <a target="_blank" href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8">the company's ability to deliver</a> on these promises will be crucial.Last week <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-records-biggest-ever-single-day-market-value-loss-2024-9">Nvidia's stock slid 9.5%, shedding $278.9 billion in valuation</a> — the biggest single-day loss ever recorded by a US company. The rout was partly attributed to the economy and partly to resurfaced doubts on when tech giants will bear the fruit of <a target="_blank" class="" href="https://www.businessinsider.com/how-much-big-tech-spending-on-ai-investments-2024-7">massive AI spending.</a>

Nvidia chips are in such high demand that customers are 'emotional,' Huang said

To ensure the convenience of <keyword id="19915258" type="General" weightage="20" keywordseo="passengers" source="keywords">passengers</keyword> and manage the anticipated surge in travel demand during summers, <keyword id="19909154" type="General" weightage="100" keywordseo="Indian-Railways" source="keywords">Indian Railways</keyword> is operating a record-breaking 9,111 trips during summer season. This marks a substantial rise compared to the summer of 2023, where a total of 6,369 trips were offered. The additional trains have been planned to connect key destinations across the country, ensuring seamless travel on major <keyword id="21357069" type="General" weightage="20" keywordseo="railway-routes" source="keywords">railway routes</keyword>. All <keyword id="20617985" type="General" weightage="20" keywordseo="Zonal-Railways" source="keywords">zonal railways</keyword> spread across India have geared up to operate these additional trips, catering to the summer <keyword id="21357806" type="General" weightage="20" keywordseo="travel-rush" source="keywords">travel rush</keyword> from states like Tamil Nadu, Maharashtra, Gujarat, Odisha, West Bengal, Bihar, Uttar Pradesh, Karnataka, Andhra Pradesh, Telangana, Jharkhand, Madhya Pradesh, Rajasthan and Delhi. Planning and running of additional trains is a continuous process for which inputs are taken from all the communication channels 24x 7 like media reports, Social media platforms, Railway Integrated helpline number 139, apart from details of waitlist passengers in PRS system, to assess demand of trains on a particular route. Based on this requirement, number of trains and number of trips are augmented. Neither the number of trains nor the number of trips run by additional train(s) is static for the entire season. During the summer season, Zonal Railways have been instructed to ensure availability of drinking water at Railway stations. Elaborate crowd control arrangements are made at all major and important railway stations. <keyword id="49492" type="General" weightage="20" keywordseo="rpf" source="Orion">RPF</keyword> personnel have been deputed at originating stations to ensure Queue system for entry in General Class coaches. Skilled RPF staffs are deployed in CCTV Control Room to keep a close watch on the crowded areas and render real time assistance to passengers. Government Railway Police (GRP) &amp; Railway Protection Force (RPF) staffs are deployed at foot-over bridges to regulate crowd smoothly in order to avoid stampede like situation during the heavy rush period. Passengers can book their ticket in these additional trains through Railway Ticket counters or IRCTC website/app.

Indian Railways to break record with 9,111 trips to meet travel demand this summer, nearly 3,000 more than in 2023

<ul class="summary-list"><li>Travelers appear to be abandoning Airbnb due to high costs, excessive fees, and poor host service.</li><li>Airbnb was once a disruptor offering affordable stays but some say it has lost its charm.</li></ul>As the founder of a travel site, Michael Rozenblit and his partner Maggie have stayed in hundreds of Airbnbs over the past decade."We love the convenience of having our own space," Rozenblit told Business Insider. "Particularly when it comes to cooking our own meals and having a bit more comfort than is found in a typical hotel room."But after recent trips, Rozenblit said they have both "fallen out of love" with the platform. They claim places to stay on Airbnb are more expensive now than hotels, and hosts are not even providing toilet paper, trash bags, and coffee anymore.Rozenblit said cleaning fees are also extortionate, despite hosts demanding that guests do the chores. One host <a target="_blank" class="" href="https://www.businessinsider.com/high-airbnb-cleaning-fee-less-bookings-not-dipping-into-profit-2023-5">previously told BI</a> he charges $400."There are almost always over-the-top cleaning requirements for check-out, often including the requirement to take out the trash and strip the beds at the minimum," Rozenblit said.Travelers have become wise to this apparent shift. Airbnb was once hailed as a major disruptor of the vacation industry, allowing people to stay in cities all over the world in comfort and at a price tag much lower than costly hotels.But the pendulum has swayed the other way, with some holiday-makers now tired of the endless fees, and difficult hosts who can make their stays miserable, say experts.Locals in tourist hot spots, including <a target="_blank" class="" href="https://www.businessinsider.com/barcelona-airbnb-ban-florence-amsterdam-lisbon-are-regulations-working-2024-8">Barcelona</a> and <a target="_blank" class="" href="https://www.businessinsider.com/greece-middle-of-an-anti-cruise-rebellion-overtourism-economy-travel-2024-8">Athens,</a> have also <a target="_blank" class="" href="https://www.businessinsider.com/photos-of-protesters-rallying-against-overtourism-in-barcelona-2024-7">protested</a> overtourism this year, taking aim at the platform's hosts buying up properties and pricing them out.Airbnb warned investors of dwindling customer demand in an earnings call earlier this month, <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-vs-hotel-some-travelers-choose-hotels-for-price-quality-2024-8">BI reported</a>, and lowered its projected earnings for Q3 from $3.8 billion to between $3.67 billion and $3.73 billion.The company's revenue is also down 15% compared to this quarter last year, from a net income of $650 million to $555 million.Airbnb's stock has since tanked, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/airbnb-stock-price-consumer-demand-slowing-inflation-travel-pandemic-spending-2024-8?_gl=1*oitje4*_ga*MTIzMzIzMzcyNi4xNzEzNzg0Nzk5*_ga_E21CV80ZCZ*MTcyNDE0MjQ1NC4zMDYuMS4xNzI0MTQ0MjA4LjUxLjAuMA..">falling 14% in one day earlier this month</a>.Meanwhile, hotels have bounced back, with <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-vs-hotel-some-travelers-choose-hotels-for-price-quality-2024-8">former Airbnb fanatics returning</a> and some seeing pre-pandemic levels of occupancy, <a target="_blank" class="" href="https://www.statista.com/topics/1102/hotels/">according to Statistica</a>. The industry is expected to see an annual growth rate of 3.72% until 2029, when it is anticipated to be worth $511 billion, <a target="_blank" class="" href="https://www.statista.com/outlook/mmo/travel-tourism/hotels/worldwide">according to Statistica data</a>.Experts say hosts have a lot to answer for in Airbnb's downfall.<h2 id="ff01f1b4-94e7-4e95-a951-a5d181b7fff1">All about profit</h2>Grace Moser, the owner of the women's lifestyle blog Chasing Foxes, has been a full-time traveler since 2016 and believes hosts have played "a huge role in Airbnb's crash.""Airbnb essentially allows anyone to sign up to be a host, which will always prove to be problematic," she told BI. "Because when you have people flooding in year after year who are seeing it as a way for them to make quick cash, you're going to be met with bad customer service."Moser believes that the majority of hosts now aren't prioritizing the guest — "it's just another income stream where they do the bare minimum and know nothing about customer relations.""There's no training, only feedback to the host after the fact," she said. "If that customer either leaves a positive or ambiguous review, or none at all, they probably won't improve for the next person."Jessica Dante, a travel expert and the founder of <a target="_blank" class="" href="https://loveandlondon.com/">Love + London</a>, told BI it was the personal connection that guests and hosts would make that made Airbnb such a success in the early days when it launched in 2008."Most listings were with hosts that would be staying in the property with the guest or who were leaving for a few days and renting their place for a bit of extra income," Dante said. "Hosts would leave binders filled with local recommendations, be there to help with anything that guests needed, and you'd hear stories of guests and hosts that became great friends after a stay."These days, she said, the majority of hosts are staff or property owners who are "solely focused on maximizing revenue.""They charge cleaning fees while asking for chores to be completed, they aren't readily available where there's a problem, and they see guests as just a number," Dante said. "The personal connection has been lost."<h2 id="97a9c439-17f7-4c39-8210-6b8f47567e64">Nightmare hosts</h2>Stories about bad Airbnbs frequently hit the headlines, in part because wronged guests can go viral on TikTok with their experiences.In January, one traveler said the trailer she rented <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-woman-shares-freezing-cold-nightmare-rental-2024-1">was so cold she could see her breath</a>. Another described his "<a target="_blank" class="" href="https://www.businessinsider.com/tiktok-shows-san-diego-airbnb-broken-toilet-bed-in-garage-2023-10">Airbnb from hell</a>" as "the most pathetic excuse for a house" he's ever stayed in, with the toilet not attached to the wall and a bed in the garage.Last year, a woman booked a New Orleans Airbnb for Taylor Swift's Eras tour this fall, but <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-host-triples-price-for-taylor-swift-concert-2023-11">the host later tried to triple the price</a> when they realized they could charge a premium.Other horror stories include a guest saying their <a target="_blank" rel="" href="https://www.businessinsider.com/airbnb-guest-belongings-dumped-street-passport-checkout-date-compensation-2023-11">host dumped all their belongings</a>, including their passport, into the street after mixing up the checkout date and a woman saying her host didn't refund her booking when she had to cancel it <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-did-not-cancel-booking-when-guest-mom-was-dying-2023-11">after learning her mom was dying</a>.Duncan Greenfield-Turk, the chief travel designer at Global Travel Moments, told BI that hosts "without a doubt" have played a big part in Airbnb's unpopularity.Inconsistent quality and service have led to growing dissatisfaction and a lack of trust in the platform, he said."Unlike hotels, which generally adhere to industry standards, Airbnb experiences can vary widely from one property to the next," Greenfield-Turk said. "While some hosts provide excellent service, others have been accused of being greedy or neglectful, focusing on maximizing profits at the expense of guest satisfaction."Stories of unreasonable rules, hosts cutting corners, and being unresponsive when issues arise are only becoming more common, Greenfield-Turk said."These negative experiences contribute to a tarnished reputation for the platform as a whole, making the reliability of traditional hotels more appealing," he said.<h2 id="62730fa3-d9b8-46eb-bdab-f59f986a3e26">Hotels are bouncing back</h2>When Airbnb was new, it offered authentic, community-driven travel experiences, Greenfield-Turk said. But now, it's full of full-time, profit-driven businesses, meaning the original charm is gone.Airbnb's loss is the hotel industry's gain. The industry is making the most of the backlash by offering more personalized services and often matching or undercutting Airbnb prices.Rozenblit said travelers are more aware of the problems that can come with Airbnbs and see the benefits of hotels, where they have "little of these requirements placed upon them."For Airbnb to regain its footing, Greenfield-Turk said it will have to implement stricter guidelines for hosts, enforce transparency with its pricing, and reconnect with the community-driven values that set it apart in the first place."This shift toward commercialization has alienated a segment of travelers who were drawn to the platform for its promise of unique, personal experiences," Greenfield-Turk said."Instead, they are now often met with impersonal, hotel-like stays — without the consistency and reliability that hotels offer."BI has reached out to Airbnb for comment.

Hosts have ruined Airbnb with excessive fees, high demands, and bad customer service, travel experts say 

<ul class="summary-list"><li>Treeview is a developer of extended-reality software that serves clients such as Microsoft.</li><li>Its founder spoke with BI about the company's training, education, and mixed-reality applications.</li></ul><a target="_blank" class="" href="https://treeview.studio/">Treeview</a>, a leading boutique development shop in South America, has established a global presence in extended-reality software.The company <a target="_blank" class="" href="https://clutch.co/developers/virtual-reality">works with enterprise companies</a> in the US, Europe, and the South Pacific to develop augmented- and virtual-reality applications for major platforms, including Meta's Quest, Apple's Vision Pro, and Microsoft's HoloLens. Its clients include Microsoft, education institutions such as the University of Alberta, and healthcare companies like Medtronic.Business Insider spoke with Treeview's founder, Horacio Torrendell, to learn more about how business and enterprise clients are leveraging AR and VR hardware for XR applications.The following has been edited for length and clarity.How'd you get into this line of work?Treeview started around 2015 when I got an Oculus DK2 for university. I began doing freelance work with the hardware when there were very few VR developers in South America. I found some clients, started growing, and started to build a team. We did a lot of work with startups from 2017 to 2020. Now we're focusing on enterprise clients.What's your take on the arc of the AR/VR industry's journey so far?I see it more as steps than an arc. It's all generation-based, with new hardware opening up new use cases.We started with PC VR for tinkering and exploration, then mobile VR like Samsung Gear VR and Google Cardboard. Next came stand-alone VR and mobile AR, where we did a lot of work with startups on projects similar to <a target="_blank" href="https://www.businessinsider.com/5g-help-retailers-shopping-augmented-reality-2019-8">Ikea Place</a> and construction tools. Now we're entering the mixed-reality generation with <a target="_blank" href="https://www.businessinsider.com/using-apple-vision-pro-for-the-day-productivity-2024-2">Vision Pro</a> and <a target="_blank" href="https://www.businessinsider.com/meta-virtual-reality">Meta Quest</a>.Each step brings initial confusion as people figure out how to use the new technology, so I think of it as a staircase. Every time there's a new step up, there's a period of adjustment. We're at the start of the mixed-reality generation, and people are still figuring out what they can do with it. I expect we'll see much more mature use cases in the next year or two as the current technology paradigm settles.What kind of problems are companies coming to you with now?Our main focus for the last three years has been training and education. There's a huge demand in this area, but it's challenging to scale because building a high-quality training simulator requires a lot of effort.We're excited about the emerging trend of merging AI with XR. Currently, AI is primarily a back-end, server-side concept that people interact with through text prompting. What's really interesting now is exploring how we can interact with AI through different computing interfaces, particularly immersive ones.Can you help me visualize how AI is being integrated into a training experience?One project we're working on with Microsoft is part of what they call the industrial metaverse. It's mainly around <a target="_blank" href="https://www.businessinsider.com/how-digital-twin-technology-can-transform-archeological-research-2024-8">digital twins</a>, which are digital replicas of physical locations with data overlaid onto that information. We're working on one of the largest <a target="_blank" href="https://treeview.studio/digitaltwin">renewable-energy-production sites in Uruguay</a>.We have a bunch of data and a real-life location, and we want to interact with that data. The way we're thinking of this is, how do you query that information? We have data that doesn't make sense without the context of the location, which is this actual wind farm.Previously, you might filter that information by time stamps or ask specific questions with a predefined user interface. But we're exploring how to have a conversation with that data through an AI model that's trained on top of that data and large language models.It's opening the possibility of having a conversation with a computer about a piece of content that is a physical representation of a physical place with data on top of that place.<div type="image" title="Horacio Torrendell wears virtual-reality glasses while showcasing a digital-twin simulation of wind farms in Uruguay" height="724" width="1086" msid="112689893" hostid="261" sizebytes="52052"></div>What sort of hardware platforms do you target on a project like this?This project targets Microsoft HoloLens 2, mobile with AR capabilities, and the standard web. We have to remember that XR is just one component in a larger set of software solutions. It's crucial to vertically integrate these technologies based on how you're interacting with the data.Having stakeholders around a table with HoloLens, discussing data on-site in a real environment, would be the highest tier of experience. But there's still value in having a website with a 3D model that you can browse and interact with through chat prompts.Let's zoom out a bit and talk about your workflow when starting a new project. How do you begin to scope out what a project is going to be?We call that the discovery phase. It's about trying to understand what the client or the use case is about, not just receiving a list of requirements. It's a brainstorm that we have with clients.For many of these corporations, there's value in deploying a solution. But there's also a lot of value in the innovation approach, in knowing exactly what's going on with this technology, exploring it, and doing some internal tinkering.What's the scale of what you're normally building in terms of distribution?With business-to-business projects, there is not a massive distribution. There are specific use cases and internal tools rather than customer-facing applications. However, we do have some clients, especially on the startup side, who have done more massive rollouts.For context, we recently launched a free educational app for Apple Vision Pro. The project is called <a target="_blank" href="https://apps.apple.com/us/app/inviewer/id6479699008">Inviewer</a>, and it's like a Wikipedia of interactive spatial content. This app is featured in the education category of the app store, which is pretty cool. After four weeks, it had about 2,600 users.Are companies looking to hit certain metrics, like reducing time or improving knowledge?One of our largest clients is a startup that's a leader in employee training, though I can't name it due to nondisclosure agreements. What I can say is that some companies are training employees for specific tasks, like installing an electric circuit.There's also huge demand in the market for institutions to provide context to, say, students about what they can do, especially for professional or technical careers. They want to get a feel for what it's like to <a target="_blank" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">install solar panels</a>, for example.These kinds of applications address a real need in the market. They help people understand career options they might not have known existed.You mentioned you developed for the Apple Vision Pro. How are the latest headsets, like the Vision Pro, changing what you can achieve?Apple brought the whole <a target="_blank" class="" href="https://www.businessinsider.com/apple-eye-tracking-accessibility-control-iphone-ipad-2024-5">concept of eye gazing</a>, the concept of prioritizing windows, and the fact that those windows can be expanded. That's a lot of new paradigms in the user-interface experience that Apple brought to the table, and it's been amazing.

The founder of a software-development company says there's a 'huge demand' for training and education applications — extended reality can help

<ul class="summary-list"><li>Demand for solar jobs is growing in response to clean-energy goals and government incentives.</li><li>Many entry-level solar jobs don't require higher education, and they offer on-the-job training.</li></ul>The solar industry has some of the <a target="_blank" href="https://www.businessinsider.com/solar-panel-industry-electricity-generation-us-eia-tariff-prices-trade-2024-2">fastest-growing occupations</a>, with jobs just in solar-panel installation in the US <a target="_blank" href="https://www.bls.gov/ooh/fastest-growing.htm">expected to grow by 22%</a> by 2032.One reason is the desire to meet environmental goals. The US Department of Energy estimated in 2021 that the solar workforce could add over 1 million workers by 2035 to achieve the goal of decarbonizing the electrical grid.To support these goals, the federal Inflation Reduction Act provides tax credits for qualifying <a target="_blank" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">clean-energy investments</a>. <a target="_blank" href="https://unboundsolar.com/solar-information/state-solar-incentives">Many states</a> offer additional tax credits and rebates, and utility companies will sometimes cover some costs of solar installation.Individuals are looking to cash in on these incentives and avoid rising energy costs. The market-research company Grand View Research estimated that the size of the US residential solar market size was $7.5 billion in 2023. Corporations are getting in on the action, too: One year after the Inflation Reduction Act's passage, the White House said companies had announced more than $10 billion in solar-manufacturing investments.Compounding this demand is <a target="_blank" href="https://www.iea.org/reports/world-energy-employment-2023/executive-summary">a skilled-labor shortage</a> across clean-energy sectors, including positions in <a target="_blank" href="https://www.businessinsider.com/housing-crisis-national-shortage-construction-workers-job-demand-2024-5">installation and repair</a>. "We're such a nascent industry that there's just not a deep pool of folks who have all of the background needed to do all of the jobs," said Kate Collardson, a senior manager of residential operations at the solar company Omnidian.<h2 id="0bca2b28-7d7e-4b17-822e-fb52b66ffe4b">Solar jobs offer a low barrier to entry and high growth potential</h2>However, the shortage means there are many affordable, accelerated solar training programs designed to help people get their foot in the door. For example, this year Goodwill Industries of Middle Tennessee added a free four-week solar-installation program to its career-training lineup. Karl Wendt, the organization's career and technical academy director, said graduates leave with the basic certifications and experience needed to be useful installers.<div type="image" title="headshot of Karl Wendt wearing a dark blazer over a white button-up" height="1238" width="1214" msid="111410018" hostid="261" sizebytes="39538"></div>The mean hourly wage for solar installers in May 2023 was $25.55, which Wendt said was impressive given people can land those jobs with a high-school diploma and four weeks of training. "If you compare it to other jobs for that skill level and that time horizon, it's competitive," he said, adding that starting as an installer is a strong way to begin a green-technology career involving higher-level positions with higher compensation.Companies are increasingly willing to hire <a target="_blank" href="https://www.businessinsider.com/sustainability-jobs-skills-gap-energy-transition-solar-carbon-emissions-2023-11">less experienced employees</a> and offer them on-the-job training. Martin Pochtaruk, the CEO of the solar manufacturer Heliene, told Business Insider that many of his employees appreciated advancement opportunities. "Operators that come in at an entry level have become shift supervisors within a year," he told BI.Collardson added that people with backgrounds in areas such as marketing, engineering, and law could apply their skills to jobs at solar companies.<div type="image" title="headshot of Martin Pochtaruk wearing a gray blazer over a white button-up." height="620" width="482" msid="111410021" hostid="261" sizebytes="23804"></div><h2 id="adcd0715-2659-4953-b9d8-d7e30f321c6c">The solar industry can support long-term careers</h2>While Collardson acknowledged that specific solar jobs could grow or shrink as incentives and demands change, they said they believe there will <a target="_blank" href="https://www.businessinsider.com/gen-z-climate-jobs-skills-gap-linkedin-2024-6">always be jobs in the solar industry</a> for those willing to be flexible.Collardson said they see a lot of <a target="_blank" href="https://www.businessinsider.com/climate-jobs-career-grow-pay-well-high-salary-2024">long-term promise</a> in their career path in operations and maintenance. "It doesn't matter how much solar we install on the planet — if the solar doesn't work, it doesn't mean anything," they said. "Operations and maintenance providers ensure that the solar is working."Wendt argued that training in solar now would help people get a head start in an industry that will continue to gain relevance. "You get in on the ground floor of anything that's growing very rapidly, and it's always going to be beneficial," he said.Pochtaruk said solar is <a target="_blank" href="https://www.businessinsider.com/new-passive-income-side-hustle-selling-electricity-neighbors-solar-panels-2023-12">far from a passing trend</a>. "This is not stopping," he said. "This is a force that is changing the way we work, the way we power our life, and, as such, is a great employment opportunity."

Solar jobs are in high demand and have a low barrier to entry — now is the time to break into the industry

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector. “My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions. <div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div> <h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. “For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ. <h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended. “There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand. However, the skills required for these roles go beyond traditional data labelling. The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted. To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation. “This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted. <h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption. Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results. Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability. According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve. For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI. Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation. This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session <a href="https://youtu.be/3ewvUSYfG1M">here</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

Venture into any commercial gym during peak hours, and you'll likely see the same thing.Row after row of empty treadmills, stair climbers, and elliptical trainers. Meanwhile, crowds of people are swamped around the squat racks, benches, and free weights, waiting to pounce on the first free piece of equipment.Long cardio sessions are a thing of the past. Now, everyone and their mother (<a target="_blank" href="https://www.businessinsider.com/professor-exercise-aging-workout-food-longevity-karyn-esser-2024-5">literally</a>) is into squats. And deadlifts. And hip thrusts. And a multitude of other strength-building moves, especially ones that help sculpt a powerful lower body.Data from the Sports and Fitness Industry Association, the major trade association for sports equipment manufacturers and fitness brands, illuminates this trend. Since 2019, gym-goers have been ditching the ellipticals and stair climbers, reaching instead for kettlebells and free weights.There's just one problem: most commercial gyms are not equipped for this shift in consumer preferences. They're becoming a graveyard for bulky, old cardio machines with dated plugs and grainy televisions.Gym owners are aware. "Trust me, our members will come up to us and tell us exactly how they feel," Mauro Maietta, district fitness manager at Crunch Fitness in Manhattan, told Business Insider. "We have some locations where they're like, okay, what's with the 40 treadmills? We need more benches."But, it turns out, remodeling a gym is not simple. The process is slow, expensive, and complicated. It's often easier to swap out an old elliptical for some new cardio machine, even if that's not what people want.<h2>Cardio created the gym industry</h2>Prior to the 1960s, fitness trends didn't really exist. Gyms were for children. Kids played sports, ran track and field, and did Presidential Fitness Tests at school, but adults didn't have time for such childish games. That all changed when <a target="_blank" href="https://health.usnews.com/health-news/blogs/eat-run/articles/the-evolution-of-fitness-trends">Kenneth Cooper coined the term "aerobics"</a> — a type of high-energy exercise that he said would reduce your risk of cardiovascular disease. Or, for short: cardio.Suddenly, exercise wasn't just a fun activity. A new idea was taking hold, that jumping, running, jazzercizing, and other forms of bouncing around are important for your heart and your waistline. This cultural shift created a demand for places to work out. It created the gym industry, and cardio was the driving force. Sure, there was muscle beach in L.A., which had been around since the 1930s, but that turf was largely reserved for the ultra-shredded Arnold Schwarzeneggers of the world who wanted to look a certain way.The problem with the cardio-centric gym was that it stemmed from a half-baked understanding of fitness. Cardio certainly plays a role in heart health and longevity, but it's not the whole story.<div type="image" title="Richard Simmons working out with people behind him" height="1515" width="2300" msid="113347793" hostid="261" sizebytes="262642"></div>The past couple of decades have seen a boom in science showing that resistance training has a wealth of benefits, beyond looking big and strong. Lifting weights can <a target="_blank" href="https://www.businessinsider.com/improve-mobility-build-muscle-longevity-exercise-personal-trainer-2023-11">help you feel younger</a> for longer, delay chronic illness, boost bone health, and reduce pain. It may even improve your self-image. Weight-lifting isn't even necessarily about <a target="_blank" href="https://www.businessinsider.com/guides/health/fitness/weight-lifting-myths-for-women">getting big</a> – it can actually help you stay lean and toned. In fact, studies show <a target="_blank" href="https://www.businessinsider.com/strength-training-better-cardio-burning-fat-2023-10">strength training beats cardio, when it comes to fat burning</a>."What the evidence is showing is that building muscle through strength training, as opposed to using cardio to manage weight, has a much greater effect on promoting longevity," the "Smarter Workouts" author and fitness industry consultant Pete McCall told Business Insider.But, while scientists and trainers have known this for a long time, it has taken a while to catch on more broadly. Before the pandemic, studio classes, like spin, were booming. From 2018 to 2019, gym-goers were hungry for cycling, stair climbing, and rowing, according to data from the Health &amp; Fitness Association, the trade group representing gyms, studios, and the fitness industry at large in the US.COVID triggered a sharp pivot.<h2>The boom of strength training in 2020</h2><div type="image" title="Kayla Itsines Profile Rooftop copy" height="2599" width="3997" msid="113347789" hostid="261" sizebytes="131914"></div>In the early months of 2020, people working out at home turned to social media influencers and personal trainers, many of whom extolled the benefits of resistance training. By June, <a target="_blank" href="https://www.businessinsider.com/weights-dumbbells-not-in-stock-online-many-retailers-gyms-closed-2020-6">Amazon had run out of barbells</a> and dumbbells.Fitness influencers had been driving an interest in strength training since the dawn of Instagram in the mid-2010s, but it was a niche trend.In 2020, suddenly, influencers like Kayla Itsines, Kira Stokes, and Kaisa Keranen were <a target="_blank" href="https://www.businessinsider.com/fitness-influencer-industry-pandemic-quarantine-boom-2020-5">amassing millions more followers around the world</a>. Fans, pent up in their living rooms, navigating the unclear perils of a new pandemic, wanted to feel strong and look good."Women used to have this misconception that if they did strength training, they'd become too muscular," Pamela Kufahl, senior director of communications at Health &amp; Fitness, told Business Insider. But consumers are getting savvier. Kufahl says from Gen Z to elders, there's been a real and growing recognition of the importance of strength training for longevity and even mental health.Since gyms reopened, members are spending more time muscle-building and less time on cardio machines, the Health &amp; Fitness data shows. People — in particular, women — are investing more of their gym dollars into personal training sessions.Demand for unique, personalized fitness has upended the point of the gym.These days, people aren't going to the gym for solo elliptical sessions, they're joining <a target="_blank" href="https://www.businessinsider.com/run-club-making-friends-dating-app-alternatives-2024-7">run clubs</a> to work up a sweat (and maybe even find love). <a target="_blank" href="https://athletechnews.com/boutique-fitness-personal-training-gen-z-millennials-report/">Boutique group fitness classes</a>, like Pure Barre and Orange Theory, are proliferating, and membership is growing at boot camps like CrossFit. Pilates — low-impact resistance training that touts strength and longevity — is soaring in popularity, per <a target="_blank" href="https://insider.fitt.co/issue-no-300-powerhouse/">Fitt Insider analysis</a>.If you've been in any large gym, you don't need to pore over industry reports or financial filings to tell you all this is true. These days, cardio is just one part of fitness. Treadmills, while still the most popular, least intimidating piece of equipment in the gym overall, might be used for a warmup or cooldown, not the entire workout.<div type="image" title="soccer players training at gym" height="683" width="1024" msid="113347778" hostid="261" sizebytes="55850"></div>McCall, who is a consultant for the cardio icon StairMaster, says this trend is only just getting started. "You're going to see a lot more interest in the next few years in strength training from all age groups," McCall told BI. "The 20-somethings, the 40-somethings, the 60-somethings will all be gravitating towards strength training, just because of the benefits it provides."<h2>A conundrum for gyms</h2>This sharp shift requires some adjustment for gym owners. In most gyms, the weight section is one small corner of their floor plan, and it is becoming increasingly crowded."Suddenly, now they need more plate-loaded equipment, they need to find space for that," Kufahl said. "Strength equipment takes up a lot of space, they need to be bolted in. To move strength equipment around is a big task for a lot of gym operators and it requires some planning, it requires determining what to do with the flooring."<div type="image" title="Olympic-level runner Eilish McColgan training on squat rack at home" height="737" width="1024" msid="113347801" hostid="261" sizebytes="49102"></div>To fully outfit a 1,300-2,800-square-foot gym for strength-training, you need dumbbells, kettlebells, barbells, medicine balls, three to four racks, and flooring that can withstand heavy weights. That takes around $60-75,000, Chris Travis, owner and coach at Seattle Strength and Performance, said.Often, it's a higher initial cost for gyms to buy that strength equipment, because it's designed to last a lot longer than treadmills, ellipticals, or stair climbers, which might be on a multi-year lease, and have lots of electronics on board.Businesses can't bend to every new trend, but consultants say it's time to do this remodeling job.Since COVID, gyms have struggled to keep their members. Last month, <a target="_blank" href="https://www.press.blinkfitness.com/blink-fitness-takes-action-to-position-business-for-future">Blink Fitness</a>, one of the cheaper, most basically-equipped gyms in the New York City area filed for bankruptcy, signaling a realization that many before- and after-work gym crowds just aren't coming back. But Blink's parent company Equinox, a luxury brand with plenty of space for personal trainers and kettlebell racks, plus one elite <a target="_blank" href="https://www.businessinsider.com/equinox-40000-membership-optimize-longevity-health-years-2024-5">$40,000 membership tier</a> for longevity-seekers, is still in <a target="_blank" href="https://insider.fitt.co/equinox-lands-1-8b-plots-expansion/#:~:text=By%202022%2C%20CEO%20Harvey%20Spevak,domestic%20and%20international%20growth%20opportunities.">expansion mode</a>.<div type="image" title="empty ellipticals" height="683" width="1024" msid="113347806" hostid="261" sizebytes="82978"></div>Crunch gyms have spent the last few years investing in more lifting platforms and clearing space for strength training, Maietta, the Crunch district manager, said. Recent renovations around the country have included more than $200,000 worth of new equipment, which buys new dumbbell racks, plate-loaded strength equipment, and Olympic lifting platforms, according to <a target="_blank" href="https://www.prweb.com/releases/crunch-johns-creek-unveils-grand-reopening-after-500-000-renovation-302046030.html">press releases</a>. Other priorities include more open-plan turf areas for functional strength training with weights like kettlebells, Crunch CEO Jim Rowley told <a target="_blank" href="https://athletechnews.com/crunch-fitness-new-era-of-fitness/">Athletech News</a> in January.It doesn't have to be a shot in the dark, either. Gyms have access to all of the data stored on their treadmills showing exactly how often people are using them."I can go and use a code on an elliptical or I can use a code on a stair climber and get an idea of how many hours it's been used over the last month, three months, six months, whatever it is," McCall said. Gym managers can use that data to determine how they might want to remodel their space — and some do. "Some health clubs are building new locations without cycling studios, I mean, that's how much that group fitness is being affected," McCall said.<h2>A new demand for specialized muscle gyms</h2><div type="image" title="man with barbell" height="1414" width="2121" msid="113347796" hostid="261" sizebytes="127058"></div>Gym-goers are increasingly seeking out more specialized spaces, and not just for spin class.When JDI Barbell, a strength-focused gym in Manhattan, opened in 2016, it was a small operation, popular with seasoned gym-goers looking to step up their game. It started out as one of a few exercise spaces dedicated to powerlifting, strongman exercises, and Olympic-style weightlifting.Lately, business is booming even more."It's one of the biggest reasons we get people coming in: 50% or more of members come to us after leaving a commercial gym because they're looking for something more," Priscilla Del Moral, JDI's co-owner and manager, told Business Insider.Miriam Fried, a New York City-based personal trainer and founder of MF Strong, said she's seen the same trend at her gym: clients wanting more strength-focused workouts after tiring of the cardio-heavy fitness classes at bigger gyms.The issue has helped fuel a resurgence of small gyms, which can focus on catering to a more individualized experience than their big-box counterparts."You can have a million different types of machines, but if you're missing the 'it' factor that makes people feel welcome and supported, they may not want to keep coming," Del Moral, who founded a nonprofit called <a target="_blank" href="https://www.strongurlsclub.org/">The Strong Gurls Club</a>, told BI<h2>Is this the death of the elliptical?</h2>This doesn't mean cardio is out. But it's being forced into a bit of a makeover."We now know that strength training is really good for you and that's here to stay, but we know you still need to go for walks and get your heart rate up," Natalia Mehlman Petrzela, professor of history at the New School and author of "Fit Nation: The Gains and Pains of America's Exercise Obsession," told Business Insider. "The treadmill is not disappearing."Brands that manufacture cardio equipment are looking at tweaks they can make. StairMaster's parent company, Core Health &amp; Fitness, has been building out its fleet of machines, acquiring Jacob's Ladder, offering a new self-powered treadmill, and developing more assault-style bikes. They're branding themselves as more of a high-intensity training equipment provider than just a stair-climbing apparatus provider these days.<div type="image" title="assault bike" height="1414" width="2121" msid="113347786" hostid="261" sizebytes="183624"></div>Increasing enthusiasm for strength-training and longevity is also a boon for the fitness industry – potentially keeping people in the gym for way more years than they might have been capable of before. Strength training is ideal for extending your "play span," your ability to keep doing what you love as you age. Maietta, the Crunch manager in New York, said he (41) is still showing up athletes who are years younger than him. He credits that to his lifting."What strength training really affords people is to make age just feel like a number," he said.

Gyms are scrambling to add squat racks for the strength-training renaissance

<ul class="summary-list"><li>US Army Rangers and Nuclear Disablement Teams trained this summer to neutralize enemy nuclear sites.</li><li>The exercise reflects rising tensions with nuclear-armed nations and those pursuing such weapons.</li></ul>Over the summer, soldiers from the Army's little-known Nuclear Disablement Team linked up with the elite <a target="_blank" class="" href="https://www.businessinsider.com/best-ranger-competition-determines-us-militarys-best-2-man-team-2023-3">75th Ranger Regiment</a> at a training event that offered insight into how the US military is thinking about taking out enemy underground nuclear facilities in the event of a conflict.The drill came as the US grapples with rising tensions with <a target="_blank" class="" href="https://www.businessinsider.com/china-now-fastest-growing-nuclear-arsenal-in-the-world-report-2024-6">China</a>, <a target="_blank" class="" href="https://www.businessinsider.com/israel-not-able-to-take-down-iran-nuclear-sites-own-2024-10">Iran</a>, <a target="_blank" class="" href="https://www.businessinsider.com/north-korea-tells-united-nations-accelerate-nuclear-weapons-program-2024-11">North Korea</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/putin-menaced-west-nuclear-war-troops-ukraine-russia-nato-strike-2024-2">Russia</a>, three of which already possess nuclear weapons and one that is, as far as the US is concerned, a little too close for comfort.<h2 id="09f50434-2cc2-41e9-82da-664371144da4">Rangers taking down nuke sites</h2>For decades, taking down adversary nuclear facilities has been a concern for the US military. No one wants to think about a near-peer conflict because of the specter of nuclear war that such a conflict could bring, but militaries regularly prepare for a wide range of scenarios that might never happen.Ranger training to prosecute nuclear targets seems to signal a shift in their role. For decades, the mission to find and eliminate enemy nuclear facilities belonged to the secretive Joint Special Operations Command (JSOC) and its tier 1 special missions units. The Army's Delta Force was primarily tasked with finding ways to penetrate highly guarded nuclear facilities and neutralize nuclear warheads."The Unit [Delta Force] has been involved with the mission set. It is an extremely difficult task that incorporates a wide range of skill sets like CQB [close quarters battle], breaching, and CBRN [chemical, biological, radiological, and nuclear warfare]," a retired Delta Force operator told Business Insider."The fact that Rangers and SF [Army Special Forces] are getting involved in the mission set tells me that the military is getting ready for a fight where there might be several different nuclear sites that need to be secured," said the retired Delta Force operator, who talked on the condition of anonymity because of his ongoing work with the Department of Defense.The exercise in June saw <a target="_blank" class="" href="https://www.businessinsider.com/every-piece-gear-army-ranger-night-raid-bag-2023-5">Rangers</a> and Nuclear Disablement Team soldiers operating under simulated fire at a decommissioned pulse radiation facility.<div type="image" title="US Army Nuclear Disablement Team soldiers and Army Rangers moving out of a defunct facility." height="1365" width="2048" msid="115056615" hostid="261" sizebytes="142680"></div>"The highlight of the exercise was the integration of the NDTs and 75th Ranger Regiment teams," Army Maj. Aaron J. Heffelfinger, the team chief for Nuclear Disablement Team 1, said following the exercise, adding that the training "ensured that if we train together or respond to a real-world crisis in the future the teams are already familiar with each other's capabilities."Although the training was intended to simulate attacking an adversary nuclear facility overseas, recapturing a friendly nuclear facility captured by enemy forces or even terrorists at home is also a concern. There are a number of legal concerns surrounding a potential response in that particular nightmare scenario, but there are workarounds.The Army's Nuclear Disablement Teams, which handle weapons of mass destruction and related materials to deny their availability to adversaries, also work with federal agencies like the FBI as part of a task force trained and equipped to conduct nuclear forensics, and during the summer, the Army unit also worked with Green Berets from the 7th Special Forces Group on taking down nuclear facilities.<h2 id="a216d71f-b1b1-4c6b-8cfc-992649b9e2d0">A new kind of mission for the Rangers</h2>The 75th Ranger Regiment is the world's premier light infantry, <a target="_blank" class="" href="https://www.businessinsider.com/how-to-tell-the-us-militarys-most-elite-special-operators">special operations unit</a>. Comprised of three line infantry battalions, an intelligence battalion, and a special troops battalion, the 75th Ranger Regiment is America's answer to difficult situations that require raw force, numbers, and violence of action, the latter involving unrestricted speed, strength, surprise, and aggression.<div type="image" title="A US Army soldier in combat kit conducts operations next to a red light. The exact action is unclear." height="1151" width="2048" msid="115056614" hostid="261" sizebytes="56618"></div>Military commanders and planners have long recognized the value and effectiveness of the unit. In December 2020, the unit achieved a remarkable 7,000 days in continuous combat.Today, the 75th Ranger Regiment is a vastly different organization than it was 20 or 30 years ago. For years, the Rangers were limited to capturing airfields and pulling security for Delta Force. as they did during the <a target="_blank" class="" href="https://www.businessinsider.com/former-delta-force-members-remember-somalia-black-hawk-down-mission-2021-8">Black Hawk Down incident</a> in Mogadishu, Somalia, in 1993.But the demands of the Global War on Terror across the force opened the way for the 75th Ranger Regiment to take on more missions. Rangers in Iraq and Afghanistan went after the same high-value targets as Delta Force and SEAL Team 6. And now, they have taken on another strategic mission set, responding to the nuclear threat.

US Army Rangers have been training for a different kind of fight: neutralizing enemy underground nuclear facilities

<ul class="summary-list"><li>China's government appears to be extending its AI crackdown.</li><li>The CCP is requiring tech companies to submit AI models for review, The Financial Times reported.</li></ul>The Chinese government appears to be extending its crackdown on AI.Beijing has always had an intense censorship and online surveillance policy, which now extends to <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">local AI development. </a>The Chinese Communist Party has introduced several regulative measures to keep AI models in check and ensure that chatbots tow the party line.<a target="_blank" class="" href="https://www.ft.com/content/10975044-f194-4513-857b-e17491d2a9e9?emailId=8914e45e-a92f-4c3f-be15-716276f651a2&amp;segmentId=3d08be62-315f-7330-5bbd-af33dc531acb">The Financial Times reported </a>that the latest development involves forcing China-based tech companies to participate in a government review of AI models.Officials are testing the models to check they "embody core socialist values," per the report.The CCP already has the final sign-off on all Chinese large language models (LLMs) and the data they are trained on. International models such as ChatGPT have also been blocked in China.This means blocking sensitive keywords or information the CCP would rather not have in the public domain. Similar to the country's Great Firewall, Chinese chatbots already dodge questions about the 1989 Tiananmen Square massacre and comparisons between <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/chinas-chatgpt-reportedly-bans-users-from-mentioning-winnie-the-pooh-2023-5">Xi Jinping and Winnie the Pooh.</a>Daniel Colson, executive director of the AI Policy Institute, said that China's aggressive ideological requirements regarding their LLMs could hobble the country's AI industry."Some policymakers can often incorrectly believe that the CCP is singularly focused on beating the US when it comes to AI development, but the fact of that matter is that their goals are more complicated than that. They have their own ideological interests conflicting with the goal of moving as fast as possible," Colson said.China's leader, Xi Jinping, sees technology including AI as key to boosting the country's economy. While censorship requirements may slow China's AI development and commercialization, it remains a formidable force in the AI race.Colson said some of the most advanced models in China are actually provided by US companies."Providing the CCP access to frontier models and their weights allows them to catch up faster," he said. "When the CCP has access to raw model weights, it makes it easier for them to create fine-tuned versions that allow such censorship."China's plan for <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">AI is about shaping reality and enforcing its power</a>, according to internal documents previously reported by BI.The US government has been trying to undercut China's AI efforts for some time, restricting access to <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/ai-taiwan-china-chip-war-2024-6">powerful AI chips </a>to slow the country's development."So much of the narrative in the US capabilities races is 'We have to stay relevant to outcompete China,'" Anna Yelizarova, a project lead at The Future of Life Institute, told BI.But regardless of whether America's attempt to undercut China succeeds, the nation's conflicting visions for AI may already be playing to different audiences — and potential customers.Several regimes worldwide would rather employ China's brand of highly regulated AI — something that could prove lucrative Beijing even if its tight control leaves it lagging behind the US in the AI race.

Beijing appears to be demanding that Chinese AI models have 'socialist values'

<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

<ul class="summary-list"><li>Much of the office market may be mired in a downturn, but demand has been strong for high-end space.</li><li>New office construction has dropped off sharply, leading to a potential upcoming shortage.</li></ul>Office vacancy is at a record high in Washington, DC, and the city is regarded as one of the nation's <a target="_blank" href="https://www.businessinsider.com/the-federal-government-is-cutting-back-its-office-footprint-2023-6">most challenged</a> markets – in part because of its heavy reliance on federal tenants that have continued to slim down their spaces.Yet Hilary Goldfarb, a senior managing director at Rockefeller Development who leads the company's Washington, DC, operations, has little doubt about the sleek 400,000-square-foot office property her firm is raising at 600 Fifth St.When the building is completed in mid-2026, Goldfarb says she is "confident it will be full.""This is not hope as a strategy," she added, noting that half of the project was pre-leased to the law firm Crowell &amp; Morning. "It's based on real data and real activity."Across the country, major office markets from New York to San Francisco have been pummeled by the lasting popularity of remote and hybrid work. Newly built, high-end offices, however, are finding takers.That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development.About 30 million square feet of new office space will be completed this year in the US, roughly half of what was built in 2019, before the pandemic, says CBRE, the real estate services firm. In 2025, deliveries will fall even further, to 14 million square feet, CBRE projects.While the overall office market is awash in hundreds of millions of square feet of empty space, CBRE predicts that vacancy in the market's upper segment will drop to pre-pandemic levels by 2027 – around the same time projects that are breaking ground now will be ready.A growing number of office developers have taken notice and see a budding shortage they are eager to cater to. Large office tenants, who often plan their space decisions years in advance, have also begun to recognize that while space options may abound now, they are likely to vanish in the coming years – raising interest in new development."The last six, seven months, there's not just people coming kicking the tires, there's people that are really looking to engage," said Scott Rechler, the CEO of RXR Realty, referring to what he says is growing tenant interest in 175 Park Ave., a 2.8-million-square-foot skyscraper designed by Skidmore, Owings &amp; Merrill that developers RXR and TF Cornerstone are planning next to Grand Central Terminal in midtown Manhattan.The group now aims to begin construction on the more than $4 billion, 1,575-foot-tall tower midway through 2025 and with significantly less pre-leasing than originally planned because of their growing confidence in demand. Asking rents at the tower will be above $200 per square foot, among the highest ever sought in the city."There used to be a point where we thought we would need to pre-lease all of it," Rechler said. "Now, we think that at 500,000 feet, it's probably enough to get going."Rechler said that interest in elite new space had been stoked by other high-end offerings in the market, such as One Vanderbilt, a recently built nearby tower, JPMorgan's new headquarters at <a target="_blank" href="https://www.businessinsider.com/jpmorgan-nyc-headquarters-design-270-park-avenue-request-proposals-2021-4">270 Park Ave.</a>, and a planned skyscraper at 350 Park Ave. that will house the <a target="_blank" href="https://www.businessinsider.com/ken-griffin-citadel-office-space-real-estate-fifth-avenue-2024-8">investment firm Citadel</a>."If your competitors have a building like that that they're identified with and you're trying to be on a parallel path, you're going to say I want to be in a space at the same level or better," Rechler said.<div type="image" title="Large conference room and office space overlooking Midtown Manhattan." height="1852" width="5000" msid="113908775" hostid="261" sizebytes="387772"></div><h2 id="5d3faa99-284e-4185-804a-807a2344cd11">Other developers are laying plans for new towers</h2>The large development firm Related Companies, meanwhile, says that four office towers it has built with Oxford Properties as part of their Hudson Yards mega-project, are now 99% full. The team is readying to begin a new 45-story, 1.1-million-square-foot office property called 70 Hudson Yards next year."We think we're going to be one of the only new buildings in '27, '28 when there's going to be no new supply," Philippe Visser, Related's president of office development, said.Even as overall office vacancy is now at 15.1% in Manhattan, according to CBRE, Visser sees little competition between the overwhelming majority of that empty space and Hudson Yards, where a number of major corporate names have migrated in recent years to take occupancy of newly built buildings. Tenants include Wells Fargo, KKR, BlackRock, Meta, and L'Oréal."All these successful companies who are looking for really dynamic office space want new construction," Visser said.70 Hudson Yards will feature an array of state-of-the-art features, including a triple-paned glass facade, which greatly enhances the insulating properties of glass exteriors and will make the building more energy efficient and appealing to sustainability-conscious office users.In Lower Manhattan, Larry Silverstein hinted that he is close to moving ahead with plans to erect the final office skyscraper at the World Trade Center, a 2.8 million-square-foot tower designed by architect Norman Foster.Rumors abound that Silverstein is close to signing a large lease with American Express that would allow the project to proceed."Just stay tuned" was all Silverstein would say about the possible deal at the tower, 2 World Trade Center.Silverstein said he was certain other tenants would fill up the remainder of the building's available space once construction is underway."When you put everything this buildings has all together, it's superior," Silverstein said. "It never left my mind that someday we would succeed in accomplishing Tower 2 – and that's where we are today."Manhattan is particularly conducive to new construction in that it has both a large captive audience of corporate office users and a deep inventory of old, outdated office properties that have fallen out of favor.But because there is so little office construction on the horizon nationally, builders have begun to lay similar plans in other markets with similar dynamics.Visser, for instance, says Related expects to break ground on a new 40-story, 925,000-square-foot office tower at 725 W. Randolph St. in Chicago by next year.Although that city is also awash in available space, the building would be one of the only available newly built office properties in the Fulton Market neighborhood, a desirable sub-district in the city's West Loop that is known for its retail and restaurants, he said.Related Ross, a spinoff development firm launched earlier this year by Related's founder, Stephen Ross, is about to begin construction on 15 City Place, a nearly 500,000-square-foot office building in West Palm Beach, Florida. The project is about 70% pre-leased to an undisclosed roster of tenants, according to Jordan Rathlev, a senior vice president of development at the company.Rathlev said he recently received a space inquiry from a financial technology firm that is seeking at least 300,000 square feet – far more than 15 City Place can accommodate. The interest from that tenant and others has given a boost to the company's ambitions to begin building a neighboring office property called 10 City Place that will also be around 500,000 square feet in size."The intent is that they're both going at the same time," Rathlev said, indicating Related's hope that it will sign enough anchor tenancy at 10 City Place to build it and 15 City Place simultaneously.<h2 id="70c57a95-0968-4007-a21d-96efb55c9ff3">A tale of two office markets</h2>There is a yawning gap between the health of top tier office space and the wider market, according to data from CBRE.The firm labels new and heavily renovated spaces that meet a host of quality measures as "prime" – a segment that encompasses only 8% of overall office inventory nationally.A net total of 49.3 million square feet of prime space was absorbed between 2020 and the first quarter of 2024, according to CBRE. Around 170.3 million square feet of net vacancy accrued in the rest of the office market during that same period.Overall office vacancy nationally was 19.1% in June, close to a record level. Prime vacancy was 15.5% and CBRE forecasts that figure will drop by almost half, to 8.2% by 2027, its pre-pandemic average."We believe that this absorption estimate is conservative, and the prime vacancy rate could return to its pre-pandemic level sooner given continued job growth," Jessica Morin, CBRE's director of US office research, said.These top-of-the-market spaces, which charged a 60% premium before the pandemic, are now 84% more expensive than competing spaces.With little supply, that differential could grow."8.2% is a healthy prime market and we expect rent growth in this tranche," Morin said.Driving the solid metrics is a lack of new supply.While a total of 44 million square feet of office space is presently under construction, only about 17.3 million square feet of it, 39% of the total, is considered prime, according to CBRE. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.<h2 id="ccbe14d6-6f15-40b7-b453-f934e9df0594">Financing remains a sticking point</h2>Even with the tailwinds, financing high end office construction remains a challenge. Banks have grown wary of lending to office projects, even those that are likely to be a financial success, because of broader concerns around declining values, increased foreclosures, and potential financial losses in the sector.Rechler said that RXR was considering "alternative strategies" to arrange financing for 175 Park Ave., as a result."The scale of this project is of a level, I'm not sure you'd be able to get enough traditional banks, as an example, to be a lender," Rechler said.Rechler said RXR has explored other routes to arrange the billions of dollars of debt necessary to fund 175 Park Ave.'s construction, including the municipal bond market, in part because the project includes $500 million of transit upgrades to Grand Central Terminal."I feel good," Rechler said, "that we'll have the right combination of pre-leasing and financing to begin next year."

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