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What if adding years to your life was as simple as taking a stroll? According to a new study, being more active could be the key to unlocking a longer, healthier life — especially for those over 40. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">5 extra years, just by moving more</h3>The study revealed that if everyone in the U.S. were as active as the top 25% of the population, individuals over 40 could add five years to their lives. The secret? <keyword id="20053428" type="General" weightage="100" keywordseo="physical-activity" source="keywords">Physical activity</keyword>. Researchers discovered this by using accelerometers — devices that track movement with precision — rather than relying on self-reported activity levels. The result are that the benefits of exercise are twice as strong as previously thought. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">Risk of death drops by 73%</h3>The most active quarter of the population had a whopping 73% lower risk of death than the least active group. But here’s where it gets exciting: for the least active group, even a small step (literally) makes a huge difference. For example, just a one-hour walk could give you six additional hours of life. Think of it as trading one Netflix binge for a half-day extension on your lifespan! <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">The biggest gains for the least active</h3>Lead researcher Professor Lennert Veerman highlighted the potential for the least active group: “If the least active quartile of the population over age 40 were to increase their activity level to that of the most active quartile, they might live, on average, about 11 years longer,” he said. Here’s the best part — it’s doable. The most active group isn’t climbing mountains or running marathons. Their activity level is equivalent to just under three hours of walking per day, proving that even moderate movement can pay off big. Low levels of physical activity could be as damaging as smoking, the researchers suggested. Just as each cigarette can shave off 11 minutes of life, inactivity has its toll. Conversely, moving more acts as a shield, helping prevent heart disease, stroke, certain cancers, and other chronic conditions. <h3 style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">Revolusionising health recommendations</h3>The study’s findings indicate a need to revisit national guidelines on physical activity. Dr. Veerman emphasised how underestimated physical movement has been: “If there's something you could do to more than halve your risk of death, physical activity is enormously powerful,” he said. He also stressed the importance of creating environments that encourage movement: walkable neighbourhoods, affordable public transport, and spaces for cycling could benefit individuals and society alike by boosting health outcomes and reducing strain on healthcare systems. Medical boards such as the WHO and the ICMR advise adults to engage in at least 150 minutes of moderate aerobic activity or 75 minutes of vigorous activity per week, alongside muscle-strengthening exercises twice a week. Children and teens should aim for 60 minutes of daily physical activity, including muscle and bone-strengthening activities three times a week. Older adults are encouraged to follow similar guidelines with added focus on balance and flexibility exercises to prevent falls. The government promotes physical activity through initiatives like the <keyword id="20284979" type="General" weightage="20" keywordseo="Fit-India-Movement" source="keywords">Fit India Movement</keyword>, though experts emphasise the need for better access to parks, sidewalks, and fitness programs to make exercise more achievable for all. Don’t worry — you don’t need to leap into intense workouts. Even modest increases in activity can yield significant results. A short walk, an evening dance, or even taking the stairs instead of the elevator could be your ticket to a longer, healthier life. The findings of this study have been published in the British Journal of Sports Medicine and can be accessed <a href="http://dx.doi.org/10.1136/bjsports-2024-108125">here</a>.

Doing this simple thing could add years to your life, research says

In a major step toward protecting students and their families, the Indian government has issued new guidelines aimed at curbing misleading advertisements by coaching centres. The Centre's crackdown addresses exaggerated claims like “100% selection” or “guaranteed job security” — promises that often lead to disappointment among students who invest time and money expecting a near-certain outcome. <h2>Protecting consumers, not shutting down coaching</h2>On Wednesday, the Central Consumer Protection Authority (CCPA) rolled out these guidelines in response to numerous complaints from the National Consumer Helpline. According to <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare, the government’s goal is not to shut down coaching centres but to ensure their ads don’t “undermine consumer rights.” “We have seen coaching centres deliberately concealing information from prospective students,” Khare said. “Therefore, we have come out with the guidelines to provide guidance to people involved in the coaching industry.” So far, the CCPA has issued 54 notices to violators and imposed penalties of around Rs 54.60 lakh. <h2>What’s prohibited?</h2>The guidelines lay out strict boundaries on what coaching centres can — and cannot — say in their ads. Here’s what the guidelines address: <ul><li>False Claims: Ads should not make unsubstantiated promises about “100% selection” or “100% job security.”</li><li>Course Details: No exaggerating or omitting information about courses, their duration, or outcomes.</li><li>Faculty Credentials: Qualifications of teachers must be presented accurately, with no fake credentials.</li><li>Fees and Refunds: All fees and refund policies must be transparent.</li><li>Selection Rates and Ranks: Coaching centres cannot claim high selection rates or exam rankings without proof.</li></ul>Additionally, they are not allowed to use successful candidates’ names, photos, or testimonials in ads without written consent from these individuals. Khare advised students to double-check the information provided by coaching centres. “Many UPSC students clear prelims and mains on their own and take only interview guidance from coaching centres,” she explained, encouraging students to verify the course details actually taken by successful candidates. The guidelines go beyond the broad term “coaching.” They define coaching as academic support, education, guidance, study programs, and tuition — but they exclude counselling, sports, and creative activities. The purpose of this definition is to keep the focus on academic and career-oriented programs, which are most prone to misleading ads. <h2>Full disclosure and consequences for violators</h2>Transparency is now mandatory, as coaching centres must display disclaimers and reveal essential course details. Facilities, infrastructure, and resources must be represented accurately, along with any required approvals or recognitions from authorities like AICTE or UGC. Khare, who also serves as the CCPA chief, stressed that coaching centres should accurately present the service, resources, and infrastructure provided. For instance, if they advertise “fully-equipped classrooms,” the guidelines require this to be an honest description. These guidelines come as a supplement to existing laws and are enforceable under the Consumer Protection Act. This means violators will face penalties, potentially similar to the Rs 54.60 lakh already imposed by the CCPA. The government hopes these new standards will push coaching centres to keep their ads honest, helping students and families make better-informed decisions. (With inputs from agencies)

No More False Promises: Government sets rules to prevent misleading and exaggerated coaching centre ads

As the United States heads into a decisive phase in its presidential election, <keyword id="19954681" type="General" weightage="20" keywordseo="Sundar-Pichai" source="keywords">Sundar Pichai</keyword>, CEO of Alphabet and <keyword id="19902762" type="General" weightage="100" keywordseo="google" source="keywords">Google</keyword>, has called on employees to ensure the company maintains its reputation as a reliable information provider. In an internal memo, as per an IANS report, <keyword id="20234972" type="General" weightage="20" keywordseo="pichai" source="keywords">Pichai</keyword> underscored Google’s critical role during this period, saying it is essential for “the products they build” to be a trusted source for people of all backgrounds. "Let’s remember the role we play at work, through the products we build and as a business: to be a trusted source of information to people of every background and belief," he said in the memo. The <keyword id="20239922" type="General" weightage="20" keywordseo="Google-CEO" source="keywords">Google CEO</keyword> also reportedly reminded employees to adhere strictly to Google’s Community Guidelines and Personal Political Activity Policy. Pichai stressed that safeguarding the integrity of the platform is of utmost importance, especially during such a significant event. “We must maintain that trust,” he wrote, saying that it is part of Google’s broader mission to make information accessible and useful. “We will and must maintain that. In that spirit, it’s important that everyone continue to follow our Community Guidelines and Personal Political Activity Policy,” he wrote in the internal memo as reported by IANS. Highlighting the teams’ ongoing efforts, Pichai mentioned that staff across Google and YouTube have been working diligently to provide accurate and reliable information to voters. This commitment is consistent with Google’s approach during elections around the world. In 2024 alone, the tech giant supported major elections in countries like France, India, and the UK, benefiting over a billion voters. Pichai also noted that the outcome of the U.S. election would have far-reaching implications, influencing discussions in homes across the globe. However, he reassured employees that regardless of the result, Google’s mission to organise global information and make it widely accessible would remain steadfast. He highlighted how artificial intelligence continues to play a significant role in driving this mission, contributing to innovation and economic growth. The tech leader’s remarks came in the context of growing scrutiny on how digital platforms manage information during elections. <keyword id="19933162" type="General" weightage="20" keywordseo="Misinformation" source="keywords">Misinformation</keyword> remains a major concern, and tech companies face increased pressure to act responsibly. To address this, Pichai reminded employees of their shared responsibility to uphold the company’s standards. In a related move, Meta, formerly Facebook, extended its ban on new political ads beyond the original November 5 end date, aiming to mitigate potential misinformation and maintain a secure online environment during and after the election period.

Google CEO Sundar Pichai asks team to safeguard trust during US elections, sends internal memo

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> has issued new guidelines to streamline operations and enhance the ease of doing business for <keyword id="19908319" type="General" weightage="20" keywordseo="credit-rating-agencies" source="keywords">credit rating agencies</keyword>. The circular introduces specific timelines for dealing with appeals made by companies regarding rating actions carried out during periodic surveillance of ratings. These modifications will be applicable, with effect from August 01, 2024, the <keyword id="19901204" type="General" weightage="20" keywordseo="securities-and-exchange-board-of-india" source="keywords">Securities and Exchange Board of India</keyword> (Sebi) said in a circular on Thursday. "In order to promote ease of doing business and bring about uniformity in dealing with appeals, based on consultation with stakeholders, including CRAs (Credit Rating Agencies), it has been decided to provide specific timelines for dealing with appeals made by the issuer in respect of rating actions carried out pursuant to periodic surveillance of ratings," it added. The changes mandate that CRAs communicate ratings to companies within one working day of the rating committee meeting, with an outer limit set to ensure promptness. Further, companies will have three working days to request a review or appeal of the rating decision, and the dissemination of the press release on the CRA's website and intimation of the same to the stock exchange or debenture trustee must occur within 7 working days of the rating committee meeting. "CRAs shall continue to maintain records in respect of the said disclosures for a period of 10 years, which may be shared with debenture trustees upon request. "Further, disclosures in respect of the said aspects shall continue to be made available by the CRAs on their website under the issuer-specific press releases/ rating rationale section of the respective issuer, wherever applicable," the regulator said. Sebi has also outlined specific timelines for certain types of disclosures, such as a list of non-cooperative issuers that should be updated daily, ensuring that stakeholders are promptly informed about issuers who fail to cooperate with rating agencies. For disclosures regarding ratings that have not been accepted by issuers, CRAs are required to maintain this information for 12 months. To ensure compliance, the circular will be monitored through the half-yearly internal audit for credit rating agencies, as mandated under the CRA norms, Sebi said. The process aims to uphold <keyword id="20775670" type="General" weightage="20" keywordseo="investor-protection" source="keywords">investor protection</keyword> and foster the development and regulation of the securities market. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a><a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms" target="_blank">Motorola Razr 50 Ultra flip phone launched in India for ₹99,999</a>

Sebi issues new guidelines to streamline operations of credit rating agencies

Most of our days start with sitting on our porcelain seats for a bit, followed by commuting to work, spending long hours of sitting before the computer screen at work, and then at home if you have hobbies that keep you glued to your seat. That’s roughly 12 hours of sitting a day or an average of 60 hours of sitting a week — and I’m sure you know where I’m going with this — which isn’t great for your health. Now I know what you’re going to think: isn’t the 30-odd minutes of moderate exercise that you try to squeeze into your day enough? The answer, according to new research, is a resounding no. If anything, these seated hours could accelerate your aging process, affecting you in ways you may not expect. <h2>Sitting is the new smoking?</h2>The <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0308660">study</a>, involving over 1,000 individuals, including 730 twins, revealed worrying insights into how prolonged sitting can affect <keyword id="82128" type="General" weightage="20" keywordseo="cardiovascular-health" source="Orion">cardiovascular health</keyword> and increase body mass index (BMI). According to the findings, even meeting the minimum exercise recommendations — around 20 minutes of moderate activity per day — doesn’t offset the risks associated with long hours in a chair. The study’s senior author, Professor Chandra Reynolds, emphasises that “sitting less throughout the day and getting more vigorous exercise, or a combination of both, may be necessary to reduce premature aging in early adulthood.” Collaborating with Ryan Bruellman, a PhD candidate at UC Riverside, Reynolds aimed to uncover the long-term health consequences of increased sitting post-COVID pandemic. <h2>Is standing the solution? </h2>Are you already scrolling through Amazon, trying to find a standing desk? Don’t bother, because that is probably just as bad. Please don’t throw your phone away and hear me out. In a complementary <a href="https://academic.oup.com/ije/article/53/6/dyae136/7822310?login=false">study</a> from Australia and the Netherlands led by Matthew Ahmadi, researchers analysed data from the UK Biobank, tracking over 83,000 adults for nearly seven years. This study found that standing for extended periods was no better than sitting in reducing cardiovascular disease risk. In fact, standing for more than two hours a day increased the risk of circulatory diseases by 11% for every extra half hour, while sitting more than ten hours a day raised circulatory disease risk by 26% per additional hour. <h2><keyword id="23792418" type="General" weightage="20" keywordseo="Movement-is-key" source="Orion">Movement is key</keyword> </h2>The key takeaway from both studies is clear: movement is essential. Simple measures like using a standing desk or taking brief walks are insufficient on their own. Instead, integrating regular vigorous exercise and reducing overall sitting time are crucial steps for Millennials to safeguard their health and stave off premature aging. Individuals who incorporated 30 minutes of vigorous exercise daily — like running or cycling—showed a notable improvement, with cholesterol and BMI levels comparable to people five to ten years younger. But even this vigorous exercise couldn’t completely negate the damage done by extended sitting, highlighting the importance of breaking up sedentary time with movement throughout the day. Reynolds emphasises the importance of building healthy habits now to ensure long-term benefits. “This is the time to build habits that will benefit health over the long term,” she advises. Meanwhile, policymakers are urged to revisit physical activity guidelines to better address the risks associated with prolonged sitting. Ahmadi’s study reinforces that standing alone isn’t a cure-all for the health risks of prolonged sitting. "We’re not seeing risks when someone’s walking around," Ahmadi explains, "but we are when they're standing still, which causes blood pooling in the lower extremities." <h2>Why millennials need to act now</h2>Many young adults might assume they have time on their side, believing they can address health concerns later in life. But as the study’s lead author, Ryan Bruellman, highlights, this critical period has lasting effects. He observed that after the COVID-19 pandemic, sedentary habits increased among his peers, prompting him to investigate the consequences. Bruellman notes that young people often feel they are immune to aging’s impacts, but “what you do during this critical time of life matters.” <div type="Article" hostid="261" msid="114851528" title="A scientist who researches healthy aging shares how she eats and works out" mstype="2" mssubtype="0"></div>

Sitting vs. Standing: Settling the debate on workplace health

A significant percentage of organizations see artificial intelligence as the key to <keyword id="19959627" type="General" weightage="20" keywordseo="competitive-advantage" source="keywords">competitive advantage</keyword>. According to the "Industry 5.0 and <keyword id="19899640" type="General" weightage="100" keywordseo="AI" source="keywords">AI</keyword> Report," compiled by <keyword id="22094332" type="General" weightage="20" keywordseo="BML-Munjal-University" source="keywords" meta.keywordsubtype="org" meta.entityname="BML Munjal University" meta.hostid="153" meta.entityid="BML Munjal University">BML Munjal University</keyword>, 44% of organizations have experienced a significant boost in productivity through <keyword id="20230984" type="General" weightage="20" keywordseo="AI-integration" source="keywords">AI integration</keyword>. Additionally, 21% reported that AI can play a pivotal role in driving innovation, enabling the development of new products, services, and business models, particularly in sectors like finance, healthcare, manufacturing, and marketing. "Approximately 33% of organizations focus on product development, while 29% leverage AI for customer service through chatbots and robotic process automation (RPA). Marketing teams, representing 19% of businesses, utilize AI for trend analysis, while 13% apply AI to improve supply chain management. Financial planning, though less prominent (6%), benefits from AI's efficiency-boosting capabilities," the report added. Based on responses from 1,000 professionals and in-depth interviews with 50 industry experts, the report highlighted a significant shift in how businesses are integrating AI into their strategies. While AI has delivered numerous benefits, the report also highlights some key challenges. "Around 34% of organizations face a critical shortage of AI-trained personnel, which hinders their ability to fully leverage AI's potential. This skills gap highlights the need for better AI education and continuous learning programs. In fact, 31 %of organizations have started mentorship initiatives to help develop talent," the report said. AI's impact varies by sector; in mergers and acquisitions, 28% have seen benefits in personalized campaigns, but data privacy remains a hurdle for 22%. IT and augmented reality sectors report enhanced productivity (44%), but struggle with talent shortages. "In finance, AI improves risk management, though 18% face regulatory challenges. Healthcare has seen advancements in diagnostics, yet ethical concerns remain significant for 18% of professionals. In manufacturing, 23% recognize process optimization benefits from AI, but 21% struggle with legacy system integration," it said. Qualitative interviews with industry professionals reveal that transparency in AI decision-making is crucial, with 21% expressing concerns about the "black box" problem. "There are also ethical concerns, with 20% of respondents mentioning algorithmic bias and 22% expressing worries about data privacy. These issues show the need for responsible <keyword id="20355187" type="General" weightage="20" keywordseo="AI-governance" source="keywords">AI governance</keyword>, prompting 38.3% of organizations to adopt <keyword id="21198326" type="General" weightage="20" keywordseo="ethical-AI" source="keywords">ethical AI</keyword> guidelines to ensure transparency," it said. According to Pratik Modi, Dean School of Management, BML Munjal University, AI enhances human-machine collaboration. "As organisations embrace this new era, the report's findings offer a roadmap for integrating AI while prioritizing ethical standards and fostering human creativity," it said.

Most organizations see AI as key to competitive advantage, notes a new report

<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> has regained approval from the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>) to onboard new UPI users, marking a significant turnaround for the fintech giant. This development follows a setback earlier this year when <keyword id="20410154" type="General" weightage="20" keywordseo="Paytm-Payments-Bank-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Bank Limited" meta.hostid="261" meta.entityid="Paytm Payments Bank Limited">Paytm Payments Bank Limited</keyword> (PPBL), an associate company of Paytm, was barred from adding new users to its UPI platform due to regulatory concerns raised by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI). <h2>Paytm gets permission to onboard new UPI users </h2> In a regulatory filing on Tuesday evening, Paytm disclosed that NPCI granted permission for the company to resume onboarding UPI users, provided it complies with all procedural guidelines and circulars issued by the corporation. “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the Company to on-board new UPI users, with adherence to all NPCI procedural guidelines and circulars,” Paytm said in the filing. This move is seen as a relief for the company, which has been under scrutiny following the RBI’s intervention in January. The NPCI, which had previously allowed Paytm to operate as a Third-Party Application Provider (TPAP) for UPI transactions, has now reinstated its ability to bring new users onto the platform, albeit with strict conditions. Paytm can continue UPI operations through its partnerships with major banking institutions, including SBI, HDFC Bank, Axis Bank, and YES Bank. The NPCI’s approval comes after a thorough review of Paytm’s compliance with procedural guidelines, including those pertaining to risk management, app branding, multi-bank participation, and data privacy. The fintech firm has been instructed to adhere to key regulatory frameworks, such as the Payments and Settlement Act of 2007 and the Digital Personal Data Protection Act of 2023. This approval follows a request by Paytm’s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords">One97 Communications</keyword> Ltd (OCL), in August, seeking permission to resume UPI onboarding. The NPCI’s decision also reflects that Paytm has addressed concerns raised in the RBI’s directive from earlier this year, which had highlighted persistent non-compliance issues with its banking subsidiary, PPBL. On a related note, Paytm reported a strong financial performance for the quarter ending September 2024. The company posted a net profit of ₹928.3 crore, a marked improvement from the ₹290.5 crore loss it recorded during the same period last year. <h2>What had happened? </h2> For the unversed, in January 2024, the Reserve Bank of India (RBI) told Paytm Payments Bank Limited (PPBL) to stop accepting deposits and processing UPI top-ups. This decision stemmed from ongoing concerns about the bank’s compliance and serious issues that needed addressing. As a result, Paytm found itself unable to onboard new UPI users, significantly disrupting its growing customer base and raising doubts about its future in the crowded <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> market. However, things took a turn for the better in March 2024 when the National Payments Corporation of India (NPCI) gave Paytm the green light to resume UPI transactions. The catch? Paytm could only operate as a Third-Party Application Provider (TPAP), meaning it had to partner with established banks like SBI, Axis Bank, HDFC Bank, and YES Bank for its UPI services. While this arrangement posed some limitations, it allowed Paytm to keep moving forward and adapt to the regulatory challenges it faced in India’s digital payment landscape. (with PTI inputs)

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! The summer slowdown is ending, but don't let the ramp-up in work scare you. Work psychologists offered tips <a target="_blank" href="https://www.businessinsider.com/tips-work-life-balance-work-psychologists-2024-8">to improve your work/life balance</a>.In today's big story, a racquet sport that starts with "P" is gaining steam, <a target="_blank" href="https://www.businessinsider.com/padel-vs-pickleball-the-future-of-racket-sports-in-america-2024-8">but it's not the one you're thinking of</a>.What's on deck:<ul><li>Markets: Some baby boomers say relying on <a target="_blank" href="https://www.businessinsider.com/retirement-savings-social-security-baby-boomers-without-savings-401k-poverty-2024-8">Social Security in retirement isn't enough</a>.</li><li>Tech: Silicon Valley is over the drama the presidential election <a target="_blank" href="https://www.businessinsider.com/election-a-distraction-silicon-valley-wants-to-be-over-2024-8">is causing their industry</a>.</li><li>Tech: Silicon Valley is over the drama the presidential election <a target="_blank" href="https://www.businessinsider.com/election-a-distraction-silicon-valley-wants-to-be-over-2024-8">is causing their industry</a>.</li></ul>But first, it's your serve.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="6bcf363e-bf84-4ecd-9575-694213758660">The big story</h3><h2 id="f4aea53a-331d-4ae1-9484-d2ab9fa5cd3e">You say pickleball; I say padel</h2><div type="image" title="padel" height="999" width="1500" msid="112812339" hostid="261" sizebytes="202656"></div>There's a new racquet sport on the block making noise, except this one's sound isn't <a target="_blank" href="https://www.businessinsider.com/pickleball-court-noise-driving-us-all-crazy-scientists-trying-solution-2023-11">driving people crazy</a>.<a target="_blank" href="https://www.businessinsider.com/padel-vs-pickleball-the-future-of-racket-sports-in-america-2024-8">Padel has gained steam this year</a> as a more active alternative to the widely popular pickleball, writes Business Insider's Kathleen Elkins, who's already been won over.Often described as a mix between tennis and squash, padel is played on a court smaller than tennis but bigger than pickleball. It's also surrounded by four glass walls with two openings, allowing players to chase shots outside the enclosure.The larger court and the ability to play balls off or outside the four walls mean the game requires a higher level of athleticism than the more stationary pickleball. (Settle down, pickleballers. Your game requires quicker reflexes.)While you might have heard of padel, there's a good chance you've never seen a court in person. The sport has been <a target="_blank" href="https://www.businessinsider.com/padel-isnt-just-rich-people-pickleball-heres-the-difference-2024-5">dominated by the ultrawealthy</a>. Some elite have <a target="_blank" href="https://www.businessinsider.com/padel-courts-miami-new-york-luxury-real-estate-development-amenity-2023-12">built courts in their backyards</a> after catching the padel bug.There's even a debate over the <a target="_blank" href="https://thepadelstate.com/how-to-pronounce-padel-in-u-s/">correct pronunciation of padel</a>. While some opt for "paddle," others pronounce it "Pa-DEL," because the rich love nothing more than adding a bit of flair to what they are doing.<div type="image" title="Paddleball and Pickleball" height="1000" width="2000" msid="112812334" hostid="261" sizebytes="163142"></div>Padel has aspirations of growing beyond the 1% in the US and taking on pickleball.The sport is already incredibly popular in Spain and Argentina. And padel's quick learning curve has some believing it has the potential to get big in the US. (The one exception in the US is Miami, where it has already taken off.)But access to courts is arguably padel's biggest hurdle. Pickleball courts can really be set up anywhere, with four courts fitting inside one tennis court. Padel courts' size and walls don't offer the same luxury.The scarcity of courts makes padel cost prohibitive. One spot near Kathleen's apartment runs about $38 per person for a 90-minute session.But padel's exclusivity could be both its biggest limitation and greatest asset. After all, a status symbol doesn't remain one if everyone has it.Sports can be restrictive. Paying for a country club is just as much about getting in as it is about keeping others out. Take golf, long a darling of the wealthy. The pandemic led to a surge in the sport, taking away some of its exclusive shine (and crowding courses).It's not a zero-sum game. High-end padel courts could remain while more affordable options become available. But watching how the elite's interest in the sport evolves with mass adoption will be interesting.<h3 id="d2d5d122-8b50-4364-bd02-628ca3ea096e">News brief</h3><h2 id="ae0e22da-b15d-4327-aa2c-be97a35575de">Top headlines</h2><ul><li>Israel and Hezbollah exchange strikes as <a target="_blank" rel="noopener" href="https://www.businessinsider.com/israel-hezbollah-exchange-fire-major-regional-escalation-2024-8">fears of an all-out war build</a>.</li><li>Harris is having a moment <a target="_blank" rel="noopener" href="https://www.businessinsider.com/harris-momentum-trump-presidential-election-standing-2024-8">but Trump isn't out of the race yet</a>.</li><li>Telegram CEO Pavel Durov <a target="_blank" rel="noopener" href="https://www.businessinsider.com/telegram-ceo-pavel-durov-arrested-french-airport-2024-8">arrested at French airport</a>.</li><li>An unprecedented legal move could let Trump <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-presidential-immunity-could-delay-hush-money-sentencing-legal-experts-2024-8">delay his hush-money sentencing</a> until after Election Day.</li><li>Why Black men's employment progress <a target="_blank" href="https://www.businessinsider.com/black-men-employment-progress-hurt-incarceration-discrimination-work-experience-2024-8">is worse than it looks</a>.</li><li>SpaceX is launching 4 people on a risky mission to fly through radiation belts and <a target="_blank" href="https://www.businessinsider.com/spacex-launch-risky-polaris-dawn-mission-first-commercial-spacewalk-radiation-2024-8">do the first commercial spacewalk</a>.</li></ul><h2 id="a3af7e08-66a7-43bb-a848-426e253d9267">3 things in markets</h2><div type="image" title="Jerome Powell in a hard hat in front of. houses." height="600" width="1200" msid="112812333" hostid="261" sizebytes="60052"></div><ol><li>Don't get your hopes up about the housing market. Economists expect an interest-rate cut in September, which has big implications for housing. Although lower rates would likely boost construction, they could also boost demand — <a target="_blank" href="https://www.businessinsider.com/buying-home-not-easier-interest-rate-cuts-prices-rent-crisis-2024-8">sending home prices soaring</a>.</li><li> Social Security isn't providing much security. More than 40 baby boomers spoke to BI about their financial struggles with retirement. Social Security, meanwhile, <a target="_blank" href="https://www.businessinsider.com/retirement-savings-social-security-baby-boomers-without-savings-401k-poverty-2024-8">isn't helping them stay out of poverty in their post-work years</a>.</li><li>Wall Street's bears haven't given up. From cracks in the job market to the Sahm Rule flashing, some strategists believe a recession is looming that could tank the market. Three experts share their bearish takes <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-predictions-recession-warning-bears-roundup-jobs-decline-2024-8">on where they see things headed</a>.</li></ol><h2 id="c93a70d4-7f21-4ff6-8e90-f1a09fbcf494">3 things in tech</h2><div type="image" title="A composite photo of Kamala Harris and Donald Trump" height="1080" width="1440" msid="112812336" hostid="261" sizebytes="91288"></div><ol><li>Politics-talk makes Silicon Valley a hot mess. Political advocacy used to be taboo in tech, but this year, VCs are getting vocal and <a target="_blank" href="https://www.businessinsider.com/election-a-distraction-silicon-valley-wants-to-be-over-2024-8">taking sides on the presidential election</a>. That's caused fighting between firms, annoyed partners, and a dealmaking slowdown.</li><li>Amazon uses this sales pitch to steal customers from OpenAI, Microsoft, and Google. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/amazon-aws-sales-guidelines-spread-doubt-about-openai-ai-capabilities-2024-8">Internal Amazon sales guidelines</a>, viewed by BI, instruct AWS salespeople to question OpenAI's security and customer support in pitches. They also takes digs at Microsoft and Google, telling salespeople to "cut through the hype" surrounding Microsoft's AI.</li><li>For promising young VCs, the path to partner is riddled with obstacles. Amid a funding slowdown for startups, <a target="_blank" href="https://www.businessinsider.com/tech-investors-face-tougher-path-to-promotion-partner-2024-8">it's getting harder for junior VCs to level up</a>. Fewer deals mean they have fewer chances to prove themselves, and for some firms, the money to promote simply isn't there.</li></ol><h2 id="487ad29c-39be-4565-9039-d5a5e4da3429">3 things in business</h2><div type="image" title="Photo collage of a tissue box, thermometer, and pills." height="1500" width="2000" msid="112812337" hostid="261" sizebytes="89838"></div><ol><li> Generation Call-In-Sick. Americans are taking more sick days than they used to and <a target="_blank" href="https://www.businessinsider.com/gen-z-sick-leave-pto-mental-health-work-from-home-2024-8">Gen Z is at the helm of the shift</a>. Despite just starting their careers, some are even taking sabbaticals. The trend highlights the work boundaries young workers are trying to establish early on.</li><li>RIP accountants. Fewer people than ever before are becoming accountants and it's putting the profession on the brink of extinction. The lack of accountants endangers the entire financial ecosystem — but <a target="_blank" href="https://www.businessinsider.com/accountant-shortage-sexy-taxes-business-school-pwc-kpmg-2024-8">rebranding America's most boring profession</a> is no easy feat.</li><li>A bleak outlook for "silver squatters." Gen X may be <a target="_blank" href="https://www.businessinsider.com/retirement-savings-crisis-gen-x-boomers-social-security-401k-pensions-2024-8">even less prepared for retirement</a> than boomers, wealth advisors say. A large cohort of adults in their mid-50s have less than $50,000 in retirement savings; many expect to work part-time or rely on family help after retiring.</li></ol><h2 id="c146218f-c309-47b9-9fd9-f3dafbaa69df">In other news</h2><ul><li>The return of the slur: <a target="_blank" href="https://www.businessinsider.com/return-of-slurs-in-left-liberal-language-2024-8">Canceled words are making a comeback on the left</a>.</li><li>It's a good time to get a deal on an EV <a target="_blank" href="https://www.businessinsider.com/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8">as they sit around on dealer lots</a>.</li><li>Tesla's AI supercomputer has a Silicon Valley town <a target="_blank" href="https://www.businessinsider.com/tesla-ai-data-center-electricity-demand-palo-alto-substation-2024-8">rushing to meet surging electricity demand</a>.</li><li>A necessary step or government overreach? <a target="_blank" href="https://www.businessinsider.com/kamala-harris-economic-plan-price-controls-gouging-food-inflation-election-2024-8">Economists are divided Kamala Harris' plan to clamp down on food inflation</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/lucy-guo-left-scale-ai-itch-build-startup-passes-2024-8">Lucy Guo's second act</a>: After the 29-year-old left Scale AI, she has the 'itch to build' something new.</li><li>Your landlord might be using an algorithm to raise rent. <a target="_blank" href="https://www.businessinsider.com/kamala-harris-ban-landlords-raising-rent-algorithms-realpage-2024-8">If Kamala Harris has her way, that could be banned</a>.</li><li>I'm quitting my job at a big tech company to travel. Hustle culture is overrated — <a target="_blank" href="https://www.businessinsider.com/quit-job-travel-after-stress-burnout-at-big-tech-company-2024-8">I'm taking a year off</a>.</li><li>One of SpaceX's biggest rivals on competing with <a target="_blank" href="https://www.businessinsider.com/spacex-rival-rocket-lab-competing-elon-musk-no-interest-mars-2024-8">Elon Musk and the new space race</a>.</li><li>A product manager who switched from Snap to Meta walks through her interview practice, <a target="_blank" href="https://www.businessinsider.com/how-meta-product-manager-prepares-big-tech-interview-questions-manager-2024-8">including her favorite question to ask the hiring manager</a>.</li></ul><h2 id="0de6750e-3fbb-4e0b-b7af-3d558ad0e423">What's happening today</h2><ul><li>The US Open begins in New York.</li><li>Federal court hearing in the FTC's attempt to block Kroger's acquisition of Albertsons.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, fellow, in New York.

The wealthy's new favorite sport is coming for pickleball's crown

<ul><li>The determination of interest rates for credit facilities, as well as the conditions for resetting interest rates, will be closely regulated by the applicable regulatory instructions. </li><li>Penal charges cannot be capitalized, which means that no further interest can be calculated on these charges. </li><li>Whenever reminders for installment payments are sent to borrowers, the applicable penal charges must also be communicated to them, said RBI. </li></ul>Banks and NBFCs cannot charge you a higher rate of interest or charge you an interest on late fees in case you default on your EMI payments. To ensure fairness and openness in disclosing penal interest, the Reserve Bank of India (RBI) has issued several guidelines to Regulated Entities (REs) on Wednesday. These new guidelines allow lending institutions to create their own board-approved policy for charging penal rates of interest in case of defaults or non-compliance by borrowers with the terms of their credit facilities. However, the RBI has noticed that many REs are imposing penal rates of interest on top of the regular interest rates when borrowers default or fail to comply with the terms of their credit facilities. The purpose of imposing penal interest or charges is primarily to encourage credit discipline among borrowers by using negative incentives and to provide fair compensation to the lender. It is not intended to be used as a way to increase revenue beyond the contracted interest rate. However, it has been seen that there are varying practices among REs when it comes to charging penal interest or fees, which can result in customer complaints and disputes. The new guidelines intend to alter this practice. <keyword id="8814215" type="General" weightage="20" keywordseo="emi-defaulters" source="Orion">EMI defaulters</keyword> cannot be charged a penal interest The determination of interest rates for credit facilities, as well as the conditions for resetting interest rates, will be closely regulated by the applicable regulatory instructions. REs are not permitted to introduce any extra components to the interest rate, as per the new guidelines. “Banks and NBFCs can no longer charge penal interest on overdue payments from borrowers. So, for e.g. you had a loan at 16% interest. In case of default some banks and NBFCs, would charge you incremental penal interest on the overdue amounts (and sometimes on the principal), over and above the agreed interest rate,” says Aditya Kumar, co-founder &amp; CEO, NIRO, a fintech platform that provides embedded credit solutions to consumer internet platforms. This is now prohibited. Also, if a borrower defaults or fails to comply with significant terms and conditions of the loan agreement, any penalty that is charged should be considered as 'penal charges'. It should not be in the form of 'penal interest', which is added to the interest rate applied to the advances. Penal charges cannot be capitalized, which means that no further interest can be calculated on these charges. However, this does not affect the standard procedures for compounding interest in the loan account. “While banks and NBFCs are permitted to levy penal charges for late payments, these can no longer be capitalized. Let us say you have an EMI of ₹3,000 and a late payment fee of ₹500, you can not treat ₹3,500 as overdue and start charging interest on it,” says Kumar. Clear communication of penal charges REs must clearly communicate penal charges and the conditions under which they may be imposed to customers through the loan agreement and other important terms and conditions documents or Key Fact Statement (KFS), as applicable, RBI said in its new guidelines. REs must also display this information on their website under the section on Interest Rates and Service Charges. Whenever reminders for installment payments are sent to borrowers, the applicable penal charges must also be communicated to them. "The RBI Circular on penal charges represents a significant move towards greater disclosure and transparency on penal charges to customers. As a part of customer complaints, penal interest and hidden charges have been a significant area of concern for the customers and the regulator has taken cognizance of the same and come up with these guidelines,” says Vivek Iyer, partner and leader, financial services risk, Grant Thornton Bharat. Iyer says that distinguishing penal charges from penal interest is a significant change in these guidelines. “We expect customers to have greater clarity on penal charges going forward,” he added.

RBI bats for borrowers, releases guidelines to prevent lenders from levying penal interest on loan defaults

<ul class="summary-list"><li>'October theory' originated on TikTok and is the belief that fall is the best time to set goals.</li><li>Because three months are left of the year, some people feel more motivated by the deadline.</li></ul>As the ball drops on New Year's Eve, many people hope they can stick to their <a target="_blank" href="https://www.businessinsider.com/new-years-resolutions-are-kind-of-outdated-2023-12">resolutions</a> for the next 12 months.For those who struggle to <a target="_blank" href="https://www.businessinsider.com/how-to-stop-procrastinating-accomplish-new-years-resolutions-goals-2024-1">meet their yearly goals</a>, the issue might just be timing.According to "<a target="_blank" href="https://www.tiktok.com/@chloevanberkel/video/7420922072085450026">October theory</a>," a concept that <a target="_blank" href="https://www.tiktok.com/@macyymorgan_/video/7284009453979045162">originated on TikTok in 2023</a> and recently went viral, people feel more motivated to set and pursue goals because they realize the year is almost over. Psychologists who spoke to Business Insider said there's some truth to it.<a target="_blank" href="https://patriciasdixon.com/">Patricia Dixon</a>, a licensed clinical psychologist, said she always sees an uptick in therapy clients around October, as therapy can coincide with them wanting to make big changes. "When the pumpkin spice comes out, we know that we are going to get extra busy," she said of her practice.Even before she heard of the October theory, <a target="_blank" href="https://www.kikiramsey.com/">Kiki Ramsey</a>, an executive coach and <a target="_blank" href="https://www.businessinsider.com/social-worker-quit-to-become-life-coach-positive-psychology-business-2024-8">positive psychologist</a>, told BI that she used to meet with her business-owner friends every October as a mini-retreat. They would reflect on their year so far and help each other set 90-day goals to finish it out strong.<h2 id="c26c0556-d832-4979-80a8-ea50a12ece9f">Shorter deadlines can be motivational</h2>Gyms tend to<a target="_blank" class="" href="https://fortune.com/2024/02/13/the-gym-flabby-january-planet-fitness-membership-equinox/"> fill up in January</a> when everyone gets started on their resolutions. Soon after, they empty as some people <a target="_blank" href="https://www.businessinsider.com/how-to-stay-motivated-to-keep-working-out-exercising-trainer-2021-12">lose their motivation to exercise</a>.Part of that has to do with the daunting idea of keeping up a new habit for a whole year. Starting in October instead, with three months left in the year, can feel more manageable. "Even if you haven't been able to get your big to-do item on your list, you can get something done and still leave the year feeling accomplished," Ramsey said.She said reframing the remaining three months as a 90-day goal gives you enough time to reset and kick off a new habit without overthinking it.<h2 id="ecf562eb-f55d-4ddb-84d5-415189249950">Fall is a more reflective time</h2>If you live in a place with noticeable seasons, witnessing the temperature dropping and the leaves changing color can inspire internal change, according to Ramsey. Plus, with the cool weather and approaching holidays, people might feel more optimistic and ready to <a target="_blank" href="https://www.businessinsider.com/new-year-network-career-hobby-resolutions-goals-skills-2024-1">set career goals</a> in October than on New Year's in the dead of winter.The holidays can also inspire more reflection. In Dixon's practice, "it brings on a lot of feelings of people being nostalgic," whether clients are reflecting on their childhood or a difficult time in their lives. Often, it can prompt them to think about making big changes.<h2 id="d74962b5-9020-447f-8ada-7bc7e35b630d">It's a perfect time to get started</h2>To make the most of this time, Dixon suggested de-emphasizing the end-of-year deadline and using it more as a guideline. "Now's the time to get started, and where you land is where you land," she said.She also encouraged celebrating any progress so far as to motivate yourself to move forward.To feel extra energized, Ramsey recommended turning your goal-planning session into a social event where you can share your dreams with friends and get feedback on your progress."This is your opportunity to step into a new phase of life, filled with that fresh energy, a sense of starting anew," Ramsey said. "Make it fun."

'October theory' explains why fall is a better time for hitting your goals than New Year's

New <keyword id="19900881" type="General" weightage="20" keywordseo="delhi" source="keywords">Delhi</keyword>, The Delhi government on Tuesday issued fresh guidelines for handling end-of-life vehicles in public places, stipulating a penalty of Rs 10,000 for four-wheelers and Rs 5,000 for two-wheelers to be imposed on owners of impounded vehicles before being released. According to the guidelines, continuous enforcement drives should be conducted to phase out such vehicles from public places in the national capital and daily reports sent to the environment department for onward submission to the Commission for Air Quality Management (CAQM). The government has classified the release procedure of impounded vehicles under two categories -- those who wish to shift their vehicle out of Delhi-NCR and those who wish to park the vehicle in private spaces which are not shared parking places. "On plying and parking of ELVs in public place in NCT of Delhi, once impounded for the first time it can be released on the basis of submission of an undertaking that vehicle will not be plied or parked in any public place within the territory of Delhi and will be removed from the city...," the guidelines read "In case of 4-wheeler, a penalty of Rs 10,000 along with towing charge and parking fee as notified in <keyword id="20667071" type="General" weightage="20" keywordseo="delhi-maintenance-and-management-of-parking-places-rules" source="keywords">Delhi Maintenance and Management of Parking Places Rules</keyword>, 2019, shall be charged before releasing of such ELVs. In case of 2-wheeler, a penalty of Rs 5,000 along with towing charge and parking fee as notified in Parking Rules 2019 shall be charged...," it said. According to the guidelines, any end-of-life vehicle impounded for the second time and transport vehicles running on diesel fuel and aged more than 10 years old cannot be released. The application for the release of a vehicle along with necessary documents should be submitted within three weeks of impounding of the vehicle and an online platform will be developed for this purpose, it said. According to the guidelines, impounded vehicles will be scrapped in case of three scenarios -- non-submission of application for release within three weeks of impounding of the vehicle, rejection of application submitted for release and impounding of the same vehicle for the second time. All scrap value shall be paid through digital mode only to the bank account in the name of the vehicle owner within 15 days of the vehicle being accepted by the <keyword id="20663769" type="General" weightage="20" keywordseo="registered-vehicles-scrapping-facility" source="keywords">Registered Vehicles Scrapping Facility</keyword>, it added. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a><a href="https://www.businessinsider.in/tech/news/fire-boltt-noise-lead-indias-wearable-market-growth-which-sees-a-34-spike/articleshow/107813888.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/fire-boltt-noise-lead-indias-wearable-market-growth-which-sees-a-34-spike/articleshow/107813888.cms" target="_blank">Fire Boltt, Noise lead India’s wearable market growth which sees a 34% spike</a><a href="https://www.businessinsider.in/business/auto/news/kawasaki-z650rs-hits-the-road-with-a-price-tag-of-6-99-lakh/slidelist/107846400.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/kawasaki-z650rs-hits-the-road-with-a-price-tag-of-6-99-lakh/slidelist/107846400.cms" target="_blank">Kawasaki Z650RS hits the road with a price tag of ₹6.99 lakh</a>

Delhi govt issues guidelines for handling end-of-life vehicles in public places

<ul class="summary-list"><li>Amazon recently launched Cedric, an internal AI chatbot, to boost employee productivity.</li><li>Cedric is designed for secure use, addressing privacy concerns with external AI tools.</li></ul><a target="_blank" href="https://www.businessinsider.com/amazon-ai-models-bedrock-service-success-2024-9">Amazon</a> warns employees not to use third-party AI chatbots, like <a target="_blank" class="" href="https://www.businessinsider.com/leaked-amazon-documents-warn-employees-not-use-genai-for-work-2024-2">ChatGPT</a>. Instead, staff are now encouraged to use a new internal tool called Cedric, Business Insider has learned.Cedric is a "general purpose AI chatbot" that is "safer than ChatGPT," according to an internal document obtained by BI. Amazon employees can "use it to ask questions, summarize documents, and brainstorm new ideas," the document explained.Cedric's goal is to help Amazon employees increase their productivity and job satisfaction as external <a target="_blank" class="" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">AI</a> tools are not available for security reasons, the document added."It's been over a year since ChatGPT Enterprise, and Co-pilot Enterprise were released yet Amazonians are left behind the curve due to limited options that are safe-for-business use," the document stated. "Without an AI Assistant, Amazonians will have lower job satisfaction than other companies who do adopt these tools. In addition, companies that leverage AI will have a higher decision velocity and be more productive — hence be able to serve customers faster and better than Amazon."The launch of Cedric underscores the challenges companies face as they seek to use AI tools safely and securely. While AI chatbots can potentially help workers, the risk of employees sharing confidential business information, intentionally or not, is high. Questions remain about how generative AI companies handle confidential information that goes in and out of their systems and whether this data is <a target="_blank" class="" href="https://www.businessinsider.com/google-ai-can-ingest-books-data-2024-3">used for model training</a>.<h2 id="5ea85a66-82ef-46fc-8c14-dd9ae512fc4e">A thorny issue</h2>For Amazon, this is a particularly thorny issue. Its arch rival Microsoft has launched AI assistant products, and it's a close partner and investor in <a target="_blank" href="https://www.businessinsider.com/microsoft-10-billion-openai-gamble-2023-1">OpenAI</a>, the startup company behind ChatGPT. Shortly after ChatGPT's release in late 2022, Amazon <a target="_blank" href="https://www.businessinsider.com/amazon-chatgpt-openai-warns-employees-not-share-confidential-information-microsoft-2023-1">started warning employees</a> not to share confidential information with the chatbot. Earlier this year, Amazon <a target="_blank" href="https://www.businessinsider.com/leaked-amazon-documents-warn-employees-not-use-genai-for-work-2024-2">formalized internal guidelines</a> that ban external AI tools, including ChatGPT, for business purposes.In recent years, a number of large companies, including Apple, Samsung, and JP Morgan Chase, also <a target="_blank" href="https://www.businessinsider.com/chatgpt-companies-issued-bans-restrictions-openai-ai-amazon-apple-2023-7#jpmorgan-chase-issued-a-temporary-ban-on-its-employees-from-using-chatgpt-7">restricted</a> their employees from using ChatGPT due to privacy concerns. That has created a hidden wave of employees secretly using such AI tools at work, <a target="_blank" href="https://www.businessinsider.com/chatgpt-secret-productivity-work-ai-technology-ban-employees-coworkers-job-2023-8">called "CheatGPT,"</a> because this tech can help them do their jobs faster.In an email to BI, an Amazon spokesperson said the company supports using generative AI technology at work, and internal guidance helps employees "use these services while properly managing confidential information.""Amazon employees use internal generative AI tools every day to innovate on behalf of our customers. We have safeguards in place for employee use of these technologies, which is focused on protecting confidential information, including guidance on accessing third-party generative AI services," the spokesperson added.<h2 id="cc21e671-a24f-4e9c-9c19-e83fa88000f9">'Reading and writing companion'</h2>Internally, Amazon is calling Cedric "your secure doc reading and writing companion," according to the internal document. It suggests employees use it to create <a target="_blank" href="https://www.businessinsider.com/amazon-ceo-jeff-bezos-memo-advice-2018-4">Amazon's famous 6-page memos</a> "in seconds" and turn meeting notes into email-ready formats "safely and securely."The internal document added that Cedric was trained on conversation text, so employees are encouraged to use plain English as if they were speaking in a natural way. The new tool can also help generate new ideas and solve problems. One of the suggested use cases showed that employees can upload Word documents, PDF files, and Excel spreadsheets and ask what a VP would say about the content.All Amazon employees now have access to Cedric. Some employees told BI that Amazon started promoting Cedric more widely across the company a few weeks ago, after an early pilot period.For Cedric, Amazon didn't use its in-house AI model Titan. Instead, Amazon used its <a target="_blank" href="https://www.businessinsider.com/amazon-ai-models-bedrock-service-success-2024-9">Bedrock</a> AI development platform and Anthropic's Claude large language model, according to the document. (Amazon has invested heavily in Anthropic).<h2 id="c1b0a17e-f548-4747-94e6-11869925802d">Approved for 'highly confidential data'</h2>Cedric is one of the many AI tools Amazon recently launched or is building internally. <a target="_blank" href="https://www.businessinsider.com/amazon-q-ai-early-challenges-aws-chatbot-2024-9">Amazon Q</a> is its flagship AI tool targeting businesses and developers. Separately, Amazon is working on another AI chatbot <a target="_blank" href="https://www.businessinsider.com/amazon-chatgpt-rival-codenamed-metis-2024-6">codenamed Metis</a> and an upgraded AI-powered Alexa app, <a target="_blank" href="https://www.businessinsider.com/amazon-paid-alexa-plus-service-issues-2024-1">BI previously reported</a>.Unlike those apps, Cedric is for internal use only and its output "cannot be used outside of Amazon," the internal document warned.Security is a key point for Cedric. Software developers and Amazon Web Services employees are approved for using Cedric with "highly confidential data," according to the document. Cedric doesn't share any inputs back into the underlying foundation model for training purposes or send it to any third-party developer. Chat history is saved in an encrypted database.For code generation, however, employees should use Amazon Q instead of Cedric, the document advised.Cedric should not be used for any "consequential" decision that can have a "legal or similarly significant effect on an individual," the document added.Still, Amazon appears confident in Cedric's ability, to the point that it expects employees to use it ahead of meetings with the company's most senior executives."How would a CEO answer?" the internal document suggested asking the AI chatbot.Do you work at Amazon? Got a tip?Contact the reporter, Eugene Kim, via the encrypted-messaging apps Signal or Telegram (<a target="_blank" rel="noopener noreferrer nofollow" class="c-link">+1-650-942-3061</a>) or email (<a target="_blank" href="mailto:ekim@businessinsider.com">ekim@businessinsider.com</a>). Reach out using a nonwork device. Check out Business Insider's <a target="_blank" rel="" href="https://www.businessinsider.com/insider-guide-to-securely-sharing-whistleblower-information-about-powerful-institutions-2021-10">source guide</a> for other tips on sharing information securely.

Amazon quietly rolled out a new AI chatbot that is 'safer than ChatGPT' for employees to use

This article is part of "<a target="_blank" href="https://www.businessinsider.com/build-it-series">Build IT</a>," a series about digital-tech trends disrupting industries.Generative AI is on the tip of everyone's tongue this year, and marketers are eager to embrace it. In a survey from Salesforce, <a target="_blank" href="https://www.salesforce.com/news/stories/generative-ai-for-marketing-research/">51% of marketers said they were using generative AI</a>, with another 22% saying they planned to do so. The benefits could be significant: McKinsey has projected that generative AI could <a target="_blank" href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/how-generative-ai-can-boost-consumer-marketing#">increase marketers' productivity</a> by 5% to 15%, adding up to $463 billion in value annually.The financial upside of adopting generative AI in marketing and sales is pushing companies to rapidly adopt it. Understanding how AI works and how to deploy it is now a focus of many marketers.The focus is driven by a desire to deliver more-personalized messages that encourage consumers to buy. Self-preservation is a motive, too: Developing AI proficiency could help bolster job security, as some marketers worry the technology might replace them if their expertise doesn't evolve."For those who are jumping on the bandwagon and really understanding it works, it gives them a competitive advantage," Tom Krutilek, the chief marketing officer at the fintech marketplace InvestHub, told Business Insider.<h2>AI can enable personalization at scale</h2>InvestHub, founded in 2021, aims to help startups raise capital by matching them with investors. While the goal is as old as markets themselves, InvestHub is taking a novel approach: It's constructing an AI-powered platform designed to use data about startups, such as the industry a company is in and the size of the investment it needs, to connect them with befitting investors. It works in reverse, too, helping investors find startups that align with their interests. "Personalization is important to us," Krutilek said.Krutilek also uses AI internally to conduct market research that could help the company attract clients — and tweak its marketing for different audiences. "We have to ask, how do we speak to the CTO or the person in charge of revenue operations?" he said. "That's different from how we speak to a venture capitalist."This isn't to say InvestHub uses AI to generate marketing copy and ships it as is. Krutilek described AI as a "starting point for our team." It can suggest an effective marketing message, but his team still needs to "add the human touch" by determining whether the AI's suggestions are suitable and making the call on which marketing strategy to pursue. Marketers can also use AI's efficiency to deploy personalized messages at scale. Bob Hutchins, the founder of the AI marketing consultant Human Voice Media, said long-tail marketing content, like product description pages, or PDPs, was ripe for disruption.PDPs are a critical component of modern e-commerce marketing strategies. If you search for a product on Google or Bing and then click on a link, or if you click on a product recommendation on Instagram or TikTok, the page you'll land on is most likely a PDP.Ideally, PDPs should be personalized; a recently retired 65-year-old in Arkansas is likely to have different priorities than a 20-something student in Spain, and a product page should reflect that. But in practice, this type of personalization is unwieldy, since it involves creating numerous iterations of one product page. Many e-commerce sites find that task beyond what even a well-staffed marketing team can handle, but AI could change the equation."If I want to add 5,000 products next quarter, who is going to write that? Who is going to make sure it follows brand guidelines?" Hutchins said. "If AI can reduce what would take three or four months down to a few days, then all of a sudden that changes the economics of my business."As marketers become more experienced in using AI, Hutchins said, more companies will be able to tap into real-time analytics and personalization that present customers with buying suggestions based on their shopping history with the company.<h2>Authenticity with AI means using it in the right place at the right time</h2>AI's promise of efficiency is clear, but marketers often find their attempts to deliver personalized messages stymied by the industry's <a target="_blank" href="https://www.forbes.com/sites/forbesbusinesscouncil/2023/01/09/authenticity-in-marketing-why-brands-must-lead-with-why/">most prolific buzzword: authenticity</a>. While marketers dream of AI-driven personalization, consumers say they like brands that feel more human.Uber Eats found itself on the wrong side of this problem in December. A person on X found that the Uber Eats page of one pizza restaurant in New York, where pizzas are often called pies, had appeared to replace blank menu images, which can sink sales, with AI-generated images of thick, bready pastries filled with odd meats.But Greg Kihlström, the owner of the marketing consultancy The Agile Brand and an instructor at the Association of National Advertisers' School of Marketing, is skeptical that authenticity will prove a barrier for long. "Consumers are pretty pragmatic about a lot of things," he said. Kihlström and Hutchins argued that if brands ensure their AI's results are accurate and follow the brand's marketing guidelines, consumers are unlikely to object to the AI or, in many cases, even notice when it's used.Research seems to support this belief. A <a target="_blank" href="https://www.sciencedirect.com/science/article/abs/pii/S2772766123000289?dgcid=author">study published in December</a> found that even trained linguists had difficulty distinguishing text generated by AI from text written by a human. Other studies have found that, in many situations, <a target="_blank" href="https://link.springer.com/chapter/10.1007/978-3-031-50072-5_34">people can't tell AI-generated images from real photos</a>.While Kihlström advised marketers to remain mindful of AI's nuances and limitations, he said that "if it serves a practical need, I don't think most consumers, in a year or two, are going to care." But he added that there were still "many years to go" before AI could create something like a sentimental Super Bowl ad.<h2>Will AI replace marketing jobs?</h2>While some marketers wonder how consumers will react to AI, many fret about something closer to home: their jobs.Kihlström said industry professionals were worried that AI might reduce or eliminate the need for certain roles — fears that go hand in hand with the technology's promise of efficiency."The senior-level marketers are less concerned about losing their jobs, but they are worried about getting headcounts cut," he said. "Because their bosses are saying, 'If 30% of anybody's job can be replaced by AI, let's cut 30% of the workforce.'"Marketers with creative tasks might be the first to feel this pain. "The lowest-hanging fruit is obviously content creation," Hutchins said. He recommended companies looking to get started with AI in marketing take a hard look at repetitive creative tasks, like writing and editing ad copy, that generative AI could handle.Opinions vary, however, and Krutilek was optimistic about marketing's future. "I don't think it's going to change the number of jobs," he said of AI, though he added that he thinks marketers with AI experience will have an indispensable, advantageous skill set.Krutilek said AI had radically changed how he incorporated market research into positioning InvestHub against its competitors. He said he could now knock out in a few hours a competitive analysis that once required a solid week of research.It's not just analysts who benefit. He said AI tools let creative-team staffers more quickly imagine and iterate on assets like graphics for a marketing campaign. The time saved could be used to consider a greater number of creative assets or to scrutinize a creative strategy."Before AI, it was like, 'How can I minimize? I only have X staff and X capability and X budget,'" Krutilek said. "But what it's allowing me to do is really hone in on which tactics will work for us and how we can make them better."

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