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<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

Leading financial services company <keyword id="19904855" type="General" weightage="100" keywordseo="Wells-Fargo" source="keywords" meta.keywordsubtype="org" meta.entityname="Wells Fargo" meta.hostid="261" meta.entityid="Wells Fargo">Wells Fargo</keyword> on Thursday said it has broadened its <keyword id="21638388" type="General" weightage="20" keywordseo="Talent-Attraction" source="keywords">talent attraction</keyword> strategy by launching the <keyword id="23053308" type="General" weightage="20" keywordseo="Transgender-Persons-Hiring-Program" source="keywords">Transgender Persons Hiring Program</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, a move that will increase <keyword id="21441079" type="General" weightage="20" keywordseo="Diverse-Representation" source="keywords">diverse representation</keyword> across levels. Building on the programme's initial pilot with its 2022 cohort of 13 individuals hired in its technology function, the company aims to train and attract additional talent across multiple lines of business in 2024. The programme aims to provide <keyword id="23053309" type="General" weightage="20" keywordseo="Employability-Skills-Training" source="keywords">employability skills training</keyword> and <keyword id="20128844" type="General" weightage="20" keywordseo="Professional-Development" source="keywords">professional development</keyword> for transgender talent, Wells Fargo said in a statement. "Investing in diverse communities to upskill and unlock potential and, at the same time, set up the right environment for success is a critical area of focus for Wells Fargo," said Uday Odedra, executive vice president and Region head of Wells Fargo India &amp; Philippines. In partnership with community organisation <keyword id="23053310" type="General" weightage="20" keywordseo="PeriFerry" source="keywords" meta.keywordsubtype="org" meta.entityname="PeriFerry" meta.hostid="261" meta.entityid="PeriFerry">PeriFerry</keyword>, the company currently sponsors 30 transgender individuals focused on enhancing their options for employment and building a robust talent pipeline at Wells Fargo. "By offering meaningful employment and professional opportunities to transgender individuals, we are not only enhancing our workforce <keyword id="20051946" type="General" weightage="20" keywordseo="Diversity" source="keywords">diversity</keyword> but also driving a culture of <keyword id="20074544" type="General" weightage="20" keywordseo="Inclusion" source="keywords">inclusion</keyword> that everyone can thrive in," said Sneha Suresh, executive director, and Diversity, Equity and Inclusion leader, Wells Fargo India &amp; Philippines. As part of our commitment to continually enhance the inclusive environment, Wells Fargo India conducts sensitisation and awareness sessions with community partners, such as Periferry. Wells Fargo has an active Pride Connection Employee Resource Network (ERN), advocating for LGBTQ employees, customers and allies. The Pride Connection ERN facilitates reverse mentoring, promotes visible allyship, and engages senior leadership to support all employees. They organise floor huddles, conferences, rainbow conversations and training sessions to ensure day-to-day inclusivity across the business.

Wells Fargo launches Transgender Persons Hiring Program in India

Nalin Bansal, Chief Relationship Management at the National <keyword id="20242630" type="General" weightage="20" keywordseo="payments" source="keywords">Payments</keyword> Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), speaking at the Global Fintech Festival 2024 on Wednesday, emphasized that only 25 per cent of payment users are <keyword id="19900675" type="General" weightage="20" keywordseo="women" source="keywords">women</keyword>, with even lower penetration in semi-urban and rural areas. "While we've achieved significant scale in <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword>, penetration remains a challenge, with only 25% of payment users being women, and even fewer in semi-urban and rural areas. Many women's mobile numbers are not linked to their bank accounts, hindering their participation," Bansal said. He added, "Yet, data shows women are 50% less prone to fraud and are highly loyal and engaged users. As an ecosystem, we must prioritize personalized, assisted services and continuous engagement across all channels. UPI123 has made strides, especially for initiatives like Ujjwala, and prepaid instruments hold promise as a 'secret purse' for women. Building trust is crucial, and it is our collective responsibility to foster it." Women are more likely to adopt <keyword id="20853683" type="General" weightage="100" keywordseo="digital-financial-services" source="keywords">digital financial services</keyword> when introduced by local agents or <keyword id="22950816" type="General" weightage="20" keywordseo="community-influencers" source="keywords">community influencers</keyword>, particularly women who can help them overcome social and technological barriers. Women who make at least five <keyword id="19971375" type="General" weightage="20" keywordseo="transactions" source="keywords">transactions</keyword> in the first week of onboarding are twice as likely to continue using <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>. This highlights the need for financial service providers to rethink in-app nudges and sales metrics to encourage consistent usage. 93 per cent of women surveyed expressed the need for ongoing support during the first three months of using digital payments, particularly for grievance redressal during failed transactions. Kalpana Ajayan, Regional Head - South Asia, Women's World Banking, said, "We recognize that digital payments can serve as a powerful tool for women, enabling them to manage their finances more effectively, access a broader range of services, and ultimately secure a better future for themselves and their families." She added, "By addressing the specific barriers that women face in adopting digital payments, we open up a new frontier for growth. This initiative is about much more than inclusion--it's about positioning women as key drivers in the digital financial ecosystem." The NPCI's UPI platform has already revolutionized India's payment landscape, with UPI transactions soaring from Rs 920 million (USD 11.08 million) in FY 2017-18 to Rs 83750 million (USD 1.01 billion) in FY 2022-23, reflecting a staggering CAGR of 147 per cent. The value of UPI transactions reached INR 80.79 trillion (USD 96,287) across approximately 55.66 billion transactions in the first four months of FY 2024-25. Of the 536 million women aged 15 years and older in India, 37 per cent report using mobile internet, making the addressable market for UPI solutions among women around 200 million strong.

Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

<ul class="summary-list"><li>Francine Katsoudas, Cisco's people, policy, and purpose chief, is on BI's <a target="_blank" href="https://www.businessinsider.com/workforce-innovation-board-tackles-topics-such-as-c-suite-innovation-ai-worker-wellness-2024-8">Workforce Innovation board</a>.</li><li>Katsoudas says AI adoption should start on the day-to-day level and be focused on skills training.</li></ul>Francine Katsoudas, Cisco's chief people, policy, and purpose officer and one of its executive vice presidents, is no stranger to leading organizations through large-scale transformations. During her 27 years at the company, her remit has spanned social impact, government affairs and policy, and digital acceleration.As leaders across industries grapple with how to stay ahead of technological change, Katsoudas says her strategy for keeping a pulse on artificial intelligence and its effect on the workforce is staying engaged with her peers and listening to people in her organization whose roles could be affected most.In April, Cisco — along with other leading organizations, including Google, Intel, and Microsoft — launched a <a target="_blank" class="" href="https://newsroom.cisco.com/c/r/newsroom/en/us/a/y2024/m04/leading-companies-launch-consortium-to-address-ai-impact-on-the-technology-workforce.html">workforce consortium</a> to focus on reskilling and upskilling roles most likely to be influenced by AI."I think we have to be so much more engaged with our peers, which is why having roundtables where we're learning is important," Katsoudas said."The AI-consortium work would have never happened two years ago," she added. "There's no way we would have come together and shared our views on roles and tasks and skills. But what we recognize now is that some of this is moving so quickly that you have to do the work together."The following interview has been edited for length and clarity.What AI transformations are taking place at Cisco and among your workforce?We have been talking about AI for years now. The biggest shift over the last maybe nine to 12 months is there's a lot more clarity around real use cases that can be leveraged across an enterprise — at Cisco but also so many of our peers.The other thing I'm seeing more broadly is an understanding around the significant impact on people. Initially, we talked about it from a "jobs are going away, sky is falling" perspective. What we feel now is AI will change jobs, and there's a little bit of architecture that we have to create to help our people navigate that.There's an accountability that we have, and the speed is not going to work in our favor. It's going to force us to kind of move quickly into concepts like skill jumping.From a technology perspective, at Cisco there have always been three different motions that are going on. The first motion is how we help other companies build out the infrastructure to manage the workloads that come from AI.The second area is the intersection of AI with the existing portfolio that we have. I think that'll be the case for every company. But in particular, because we are a security company, this recognition of security for AI is top of mind.The third element is, how does the technology intersect all of the different functions within the company.We initially saw a top-down approach to AI. But what seems to be emerging at some organizations is the importance of power users — people who are showing use cases on the day-to-day level and showing others how AI makes their jobs easier. Are you seeing something similar?Completely. We did a body of work, I think it was last November, where we reached out to organizations around the world about AI readiness. Of those, 98% of CEOs, CIOs, and IT professionals said they feel tremendous pressure, but only 14% had a plan.To me, that reinforces the top-down element. So what we have done — because we've always felt like an element of our culture that is unique is that we believe strongly in the bottoms up. You need to have that to innovate and to be inclusive.To give you an example, we asked people to participate in a pilot where we would provide them with training on how to leverage gen AI. In fact, they got Green Belt certification, and then we asked them to take those learnings and apply them to their day job and capture ways that their job could evolve based on leveraging technology.I was hoping to get 300 people. And in the end, we had close to 800. What came out of that was like 282 ideas, and then a before and after on efficiency and productivity. Confidence and comfort in the technology and the willingness to think about how to apply it went up pretty dramatically. It's a beautiful example of bottoms up.I think the way to ensure that you do this right is to let the people that are closest to the work guide how it is leveraged moving forward.The only caveat is you have to make sure that you have a responsible AI framework so that people know what's appropriate and how to leverage data.What do C-suite leaders need to do, and also leave behind, in order to drive innovation?One of the hardest things that needs to happen to the C-suite is we need to pivot away from "roles" in jobs to "skills."Within Cisco, but also more broadly, the skills conversation never took off the way we hoped it would have. And now you're going to be forced to play here, because it's going to drive the level of agility that you need as a company.Leaders also have to be comfortable allowing their teams to tell them how the technology should be used. All of us need to be thinking about, with the level of productivity and change we expect to see, what issues from an overall workforce perspective are we trying to solve?Training will be on a much faster cadence than it is today. It should be bite-sized so that we can continue to make it part of our weekly to-do list.As leaders, we're going to have a level of workforce planning insights that we've never had before because AI is going to help us with this. We need to set expectations with people that were never done from a learning and change perspective.How do you see talent acquisition changing in the next 12 months?There were really positive shifts that we've been trying to achieve for years, and technology can make some of those shifts a little bit lighter for us. From a talent-acquisition perspective, I think we can use AI to reduce the bias in the system, and I think that's something we have to work hard on.As an example, many years ago, we experimented with blind hiring, so we remove the names off of resumes, even the universities, and really focus on the skills.In technology roles, it was kind of easy because you could just send out a quick coding exercise and understand who had the capabilities. The beautiful thing about that was you found people that didn't have college degrees. You found people that were doing roles that we would have thought were out of scope.We need to leverage the technology to help us distill capability, and in doing so, we'll have a more inclusive approach and more diverse talent.

A bottom-up approach to AI adoption can drive innovation and inclusion, a Cisco EVP says

In an effort to give a further boost to partnership, India, and the US signed a landmark Memorandum of Understanding (<keyword id="19914814" type="General" weightage="20" keywordseo="MoU" source="keywords">MoU</keyword>), which will enable the Micro, Small and medium enterprises (<keyword id="19910977" type="General" weightage="100" keywordseo="MSMEs" source="keywords">MSMEs</keyword>) of the two countries to participate in <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword> and foster trade. "<keyword id="20233690" type="General" weightage="20" keywordseo="India-US" source="keywords">India-US</keyword> joining hands to promote cooperation in MSMEs," the official spokesperson of the Ministry of External Affairs, Randhir Jaiswal, wrote on X. "Today, India-US signed a landmark MoU that enables MSMEs of the two countries to participate in global markets, drive innovation, foster trade, and support <keyword id="19930409" type="General" weightage="20" keywordseo="women-entrepreneurs" source="keywords">women entrepreneurs</keyword>," he added. S. C. L. Das, Secretary, Ministry of Micro, Small and Medium Enterprises, and Isabel Casillas Guzman, Administrator, <keyword id="21149255" type="General" weightage="20" keywordseo="small-business-administration" source="keywords">Small Business Administration</keyword> (SBA), United States of America, signed the MoU here in New Delhi. The MoU provides a framework for both sides to discuss issues concerning micro, small and medium enterprises (MSMEs) and explore possibilities for cooperation. It envisages the exchange of expertise between the two sides on issues related to improving MSME participation in the global marketplace through mutual visits as well as webinars and workshops on topics including access to trade and export finance, technology and digital trade; green economy, and trade facilitation. The MoU also provides for the joint conduct of programmes for women entrepreneurs to empower them and facilitate trade partnerships between women-owned small businesses in the two countries. Recognising the crucial role that MSMEs play in advancing <keyword id="20421749" type="General" weightage="20" keywordseo="inclusive-growth" source="keywords">inclusive growth</keyword>, expanding exports, and boosting employment, the two sides also agreed to explore the development of a "Business Matching Digital Platform" to boost <keyword id="20035864" type="General" weightage="20" keywordseo="business-opportunities" source="keywords">business opportunities</keyword>.

India-US join hands to promote cooperation in MSMEs

Payments made via Unified Payments Interface (UPI) reported a 45% yearly growth, according to data from the National Payment Corporation of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>). The value of transactions also saw a growth of over 35%, totaling Rs 20.64 trillion. This marks the third consecutive month when total transactions exceeded Rs 20 trillion. In June 2024, the total UPI transaction value was Rs 20.07 trillion, while in May it was Rs 20.44 trillion. NPCI data also showed that the average daily transaction value through UPI in July 2024 was Rs 466 million, or about Rs 66,590 crore. Compared with June, the volume of <keyword id="19957378" type="General" weightage="100" keywordseo="UPI-transactions" source="keywords">UPI transactions</keyword> grew by 3.95% in July, while the value of transactions increased by 2.84%. In the first four months of the current fiscal year (2024-25), UPI recorded transactions amounting to Rs 80.79 trillion, across approximately 55.66 billion transactions. In 2023-24, total UPI transactions were 131 billion, compared to 84 billion in 2022-23. The monthly bulletin of the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) reported that over the last four years, UPI transactions have seen a ten-fold increase in volume, from 12.5 billion transactions in 2019-20 to 131 billion transactions in 2023-24, which accounts for 80% of the total digital payment volumes. Unified Payments Interface (UPI) transactions experienced substantial growth, increasing by 57% year-on-year in FY24. Within this segment, PhonePe and Google Pay dominated, holding a combined market share of 86%, according to the Boston Consulting Group's (BCG) Banking Sector Roundup for 2023-24. A shift in <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> was noted, with credit card transactions doubling over the past three years. In contrast, debit card transactions declined by 43% year-on-year. By making digital payment platform technology and device agnostic, UPI has contributed to <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword> at the grassroots level. Digital payments in India are hitting fresh highs, as citizens increasingly adopt emerging modes of online transactions. One key emphasis of the Indian government has been to ensure that the benefits of UPI are not limited to India alone; other countries, too, can benefit from it. UPI is India's mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly using a Virtual Payment Address (VPA) created by the customer. The share of UPI in digital payments in India has reached close to 80% in 2023. Today, India accounts for nearly 46% of the world's digital transactions, based on 2022 data.

UPI transactions cross Rs 20 trillion for third successive month, in July 2024

This article is part of "<a target="_blank" rel="" href="https://www.businessinsider.com/category/workforce-innovation">Workforce Innovation</a>," a series exploring the trends and leaders shaping enterprise transformation.<a target="_blank" href="https://www.businessinsider.com/how-millennial-bosses-manage-gen-z-workers">With a new generation of workers</a> bringing fresh sensibilities and an increasing <a target="_blank" href="https://www.businessinsider.com/american-millennials-would-take-pay-cut-better-work-life-balance-2024-2">desire for work-life balance </a>and <a target="_blank" href="https://www.businessinsider.com/gen-z-advocate-mental-health-flexibility-workplace-management-2023-7">mental-health support</a>, organizations across the US are scaling up <a target="_blank" href="https://www.businessinsider.com/how-companies-boost-employee-wellbeing-build-healthy-culture-2021-11">employee well-being</a> programs to meet the demands of the post-pandemic era.Companies spent $51 billion on employee wellness in 2020, a figure that's projected to rise to $100 billion a decade from now, according to a <a target="_blank" href="https://www.wellable.co/resources/employee-wellness-industry-trends-reports/2023/dashboard#investment-trends">report last year</a> by Wellable, a corporate healthcare platform. <a target="_blank" href="https://www.businessinsider.com/how-to-build-company-wellness-program-employees-healthy-motivated-2020-8">Initiatives</a> range from health plans and perks to <a target="_blank" href="https://www.businessinsider.com/employee-resource-groups-small-business-community-company-culture-2022-10">employee-resource programs</a> and digital tools. All share <a target="_blank" href="https://www.businessinsider.com/gallup-research-employee-engagement-happiness-productivity-2020-10">a common goal</a>: fostering a healthier, happier, and more productive workforce."When employees feel they're being invested in and supported, they're more likely to experience greater job satisfaction and an improved sense of well-being," Charlie Tharpe, a professor at Boston University's Questrom School of Business, said.Tharpe added that employees who feel supported are likely to put more effort into their work, so "companies with a healthy and engaged workforce can reap substantial benefits."Companies need to achieve a balanced mix of well-being offerings to address the shifting needs of their workers, Tharpe said. This means tailoring programs and plans that resonate with employees and align with company values and mission, all while maximizing return on investment and yielding measurable benefits such as reduced healthcare costs. Studies suggest that <a target="_blank" href="https://journals.sagepub.com/doi/full/10.1177/0033354919878434">employee well-being</a> is linked to improved <a target="_blank" href="https://www.gallup.com/workplace/215924/well-being.aspx">engagement and commitment</a> and can also play a key role in attracting and retaining talent and increasing productivity.<h2>A retention tool that reinforces company values</h2>Tharpe said many companies view well-being benefit programs as a strategic tool to reinforce the organization's values and make it more attractive as an employer."There's a baseline of benefits that most try to adhere to, if not exceed," he said. "When it comes to additional ones, companies need to ask: What's the composition of our workforce? What would appeal most to our employees? And what's most consistent with our brand?"Answering these questions requires pragmatism, empathy, and creativity.Take, for instance, Outdoor Experience Days, an initiative that L.L.Bean, the Maine-based outdoor retailer, first introduced in the 1990s. Back then, the benefit offered salaried, full-time employees three paid days on top of their vacation time to spend outdoors. In 2021, amid the pandemic, when social distancing meant people spent more time socializing outside, the company expanded the program. Part-time and hourly year-round employees — a total of about 5,000 people — were included, making the benefit more inclusive to a wider range of workers.Stephanie Harvie, L.L.Bean's manager of wellness operations, said outdoor days are loosely defined. "It doesn't have to be hiking a big peak," she said. "It could be a day at the beach with your kids or going to a park."<a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8125471/">Study</a> after <a target="_blank" href="https://www.apa.org/monitor/2020/04/nurtured-nature">study</a> suggests that being in nature <a target="_blank" href="https://www.businessinsider.com/why-spending-more-time-outside-is-healthy-2017-7">improves mental and physical health</a>. Harvie said that the Outdoor Experience Days initiative aligns with this research and the company's heritage. "We believe in the restorative power of spending time outside, and supporting and encouraging time spent outside is one of the most unique and authentic ways we show our employees we care about them," she said.Last year, 5,000 employees used 78,000 hours, translating to about 10,000 days. The company does not use a specific metric to measure the initiative's effectiveness, but Harvie said L.L.Bean is committed to the program and confident in its positive impact."ROI is difficult to track," she said. "For us, it's about making choices about things we believe are meaningful."<h2>Combating healthcare costs, boosting mental health</h2>Some companies are adopting well-being initiatives to confront <a target="_blank" href="https://www.businessinsider.com/former-surgeon-general-medical-bill-shows-broken-healthcare-system-2024-2">mounting healthcare costs</a>, with the added benefit of <a target="_blank" href="https://www.businessinsider.com/coronavirus-has-encouraged-companies-to-add-mental-health-benefits-2020-3">improving mental-health support</a> for their employees.World Wide Technology, a St. Louis-based technology-services provider, set up two health clinics for employees in 2015 to address increasing insurance costs from urgent and emergency-care visits. After surveying its US workforce, one-third of which is made up of hourly employees, the company found that workers did not visit primary-care doctors because of time constraints and the need to use paid time off. In response, WWT launched free on-site clinics staffed by a doctor, nurse practitioners, and medical assistants. The clinics were available to all employees, regardless of their insurance plan, and the employees' insured dependents.In 2021, as <a target="_blank" href="https://www.businessinsider.com/psychiatrist-constant-change-covid-pandemic-hurts-mental-health-2021-8">demand for mental-health services</a> grew during the pandemic, WWT expanded its clinical offerings to include counseling and behavioral-health services. "Even before COVID, our leadership focused on destigmatizing talking about mental health," John Rocco, the vice president of total rewards at WWT, said. "We want to make sure our employees have access to the support they need."WWT estimates it's seeing a return on investment of about two-to-one: For every dollar invested in these clinics, the company said it saves about $1.50 in insurance costs and gains additional productivity savings."The way we see it is that if our employees are using the services, they're getting value out of them," Rocco said.Children's Mercy Kansas City, a pediatric-health facility in Missouri, also made mental health and well-being initiatives a priority for its staff following the pandemic. This focus was crucial in <a target="_blank" href="https://www.businessinsider.com/new-york-nurses-strike-labor-union-staffing-shortage-covid-2023-1#:~:text='The%20beginning%20of%20another%20kind%20of%20pandemic',-Three%20nurses%20told&amp;text=The%20staffing%20issue%20forces%20nurses,other%20basic%20needs%20is%20secondary.">addressing burnout</a> and retaining talent, particularly <a target="_blank" href="https://www.businessinsider.com/hospitals-staff-shortages-pandemic-burnout-2021-8">amid staffing shortages</a> that caused operational challenges, Dr. Stephanie Burrus, the organization's chief well-being officer, said."Working in healthcare is hard," she said. "Our staff face heart-wrenching realities every day: life-and-death situations and cases of abuse and neglect. Those experiences are hard to step away from."Earlier this year, the hospital started a peer-to-peer counseling support system to augment its in-house one-to-one and group counseling services. It also partnered with Pause with Paws, a program where staff members can interact with therapy dogs for stress relief during their workdays."Our goal is to provide consistent, standardized support for our staff during distressing events," Burrus said. "This helps them feel seen and it normalizes the idea that it's OK to not be OK."<h2>'Employees must be well to do well'</h2>Many companies, including Salesforce, the San Francisco-based software group, recognize the benefits of volunteering and offer volunteer programs as wellness benefits.Research suggests that volunteering boosts <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5504679/">mental health and happiness</a>, as it gives people a sense of belonging and purpose. Meanwhile, other studies have found that corporate volunteer programs contribute to <a target="_blank" href="https://www.terry.uga.edu/wp-content/uploads/Rodell2013.pdf">increased productivity</a> and <a target="_blank" href="https://www.researchgate.net/publication/230058845_Does_Serving_the_Community_Also_Serve_the_Company_Using_Organizational_Identification_and_Social_Exchange_Theories_to_Understand_Employee_Responses_to_a_Volunteerism_Programme">improved hiring and retention</a>.Salesforce's Volunteer Time Off program grants employees seven business days a year to volunteer for a charity of their choice. Since the pandemic, the company has adopted a hybrid approach, ensuring that both in-office and remote employees can participate in Salesforce volunteer events.Recent employee data found that 75% of Salesforce's 72,000 global employees have participated in the VTO program. The company also reported that workers who recorded VTO within the last fiscal year were significantly less likely to leave the company. Among employees who did leave, those who took VTO stayed 20% longer than those who didn't.Molly Q. Ford, the company's vice president of talent connection and engagement, said in an email that the program helps employees connect with causes they care about and fosters a sense of purpose that benefits the company and its communities."Salesforce operates under the belief that employees must be well to do well," she said.Evaluating the financial impact of wellness initiatives — especially newer offerings, such as coaching apps, relaxation classes, and stress-management workshops — can sometimes be challenging. Research on these programs has yielded mixed results, with at least <a target="_blank" href="https://onlinelibrary.wiley.com/doi/10.1111/irj.12418">one study published this year</a> indicating employer well-being initiatives have few positive benefits and, in some cases, even negative effects.Still, most companies recognize that having a healthy, productive workforce that feels connected to the organization is worth the investment. Tharpe said implementing a variety of programs and initiatives to help employees navigate challenges and improve their health and well-being often pays off and signals to employees that the organization cares about them.After all, he said: "The value of a company lies largely in its intangibles, with the workforce being the most important asset."

Companies are adopting creative and inclusive ideas to support employees' well-being.       

In a move reflecting shifting dynamics in the tech industry, both <keyword id="19895622" type="General" weightage="20" keywordseo="Microsoft" source="keywords" meta.keywordsubtype="org" meta.entityname="Microsoft" meta.hostid="261" meta.entityid="Microsoft">Microsoft</keyword> and <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> have decided to relinquish their observer seats on the board of <keyword id="19918823" type="General" weightage="20" keywordseo="OpenAI" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenAI" meta.hostid="261" meta.entityid="OpenAI">OpenAI</keyword>, reported UK-based 'The Financial Times'. The move comes amidst reports of increased regulatory scrutiny over the involvement of tech giants in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword>. Microsoft, which had invested significantly in OpenAI, including a substantial USD 13 billion investment in its generative AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword>, ChatGPT, has announced its immediate withdrawal from its observer role on OpenAI's board. <div type="Article" hostid="261" msid="111637913" title="Samsung Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Ring and more launched" mstype="2" mssubtype="0"></div> The decision was communicated via a letter to OpenAI, citing the company's satisfaction with the progress made by the newly formed board. Similarly, Apple, which was expected to take up a similar observer role as part of an agreement to integrate ChatGPT into its devices, has opted not to do so. Although Apple declined to comment on the matter, sources familiar with the situation indicate that the tech giant will not be taking an observer position on OpenAI's board. In response to these developments, OpenAI has announced a revised strategy for engaging with its strategic partners and investors. According to the FT report, the organization plans to hold regular meetings with partners like Microsoft and Apple, along with investors such as Thrive Capital and Khosla Ventures. This shift, as explained by an OpenAI spokesperson, aims to foster a more inclusive and collaborative approach to governance and strategic decision-making. The board of OpenAI recently saw the addition of Phil Schiller, Apple's former marketing chief, as an observer, which was reported just days before these withdrawals. However, Schiller will no longer be observing OpenAI's operations, highlighting the fluidity and perhaps underlying tensions within the organization's boardroom dynamics. Analysts speculate that the decision by Microsoft and Apple to step back from their observer roles could be linked to strategic considerations or internal dynamics within OpenAI. While some suggest possible concerns over antitrust scrutiny or strategic disagreements, the exact motivations behind these decisions remain unclear. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/xiaomi-su7-with-up-to-800-km-range-showcased-in-india-but-you-cant-buy-it/slidelist/111609513.cms" target="_blank">Xiaomi SU7 with up to 800 km range showcased in India but you can’t buy it</a><a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank">Redmi 13 5G with 120Hz display launched in India starting at ₹13,999</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-how-to-watch-expected-launches-and-everything-you-need-to-know/articleshow/111626712.cms" target="_blank">Samsung Galaxy Unpacked – How to watch, expected launches and everything you need to know</a>

Microsoft and Apple exit observer roles on OpenAI board

Tech giant <keyword id="19910716" type="General" weightage="20" keywordseo="IBM" source="keywords" meta.keywordsubtype="org" meta.entityname="IBM" meta.hostid="153" meta.entityid="IBM">IBM</keyword> on Monday announced the launch of its <keyword id="22332400" type="General" weightage="100" keywordseo="GenAI-Innovation-Center" source="keywords">GenAI Innovation Center</keyword> in <keyword id="19900813" type="General" weightage="20" keywordseo="Kochi" source="keywords">Kochi</keyword> which, it said, will enable enterprises, <keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">startups</keyword>, and partners to explore and build generative <keyword id="20125652" type="General" weightage="20" keywordseo="AI-technology" source="keywords">AI technology</keyword>. The centre will accelerate AI innovation, boost productivity and strengthen GenAI expertise in India, the company said in a release. "As organisations transition from AI experimentation to deployment for adding business value, they often find AI projects too complex or difficult to integrate due to limited skills or expertise," it said. According to the release, the centre would provide organisations with access to IBM experts and technologies geared to help build, scale and accelerate adoption of enterprise-grade AI. The centre is built on InstructLab, a new technology jointly developed by IBM and <keyword id="20245485" type="General" weightage="20" keywordseo="Red-Hat" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Hat" meta.hostid="153" meta.entityid="Red Hat">Red Hat</keyword> for enhancing Large Language Models (LLMs) with a client's own data, and will also take advantage of IBM '<keyword id="20249092" type="General" weightage="20" keywordseo="Watsonx" source="keywords">watsonx</keyword>' AI and data platform and AI assistant technologies. The GenAI Innovation Center will be a part of the IBM India Software Lab in Kochi, and be managed by IBM's technical experts. "With access to the latest in generative AI technology, LLMs, case studies, and IBM experts, the centre will nurture a community focused on harnessing the power of generative AI to address societal and business challenges ranging from sustainability, public infrastructure, healthcare education, and inclusion," IBM said.

IBM to launch GenAI Innovation Center in Kochi

<ul class="summary-list"><li>Black dating app BLK is launching a new range of profile stickers.</li><li>They include "Caribbean Descent," "Afro Latino," and "Black Biz Owner."</li></ul>In the fast-paced world of <keyword id="11970843" type="UNKNOWN" weightage="60" keywordseo="dating-apps" source="Orion">dating apps</keyword>, users have mere seconds to stand out to a potential match. Photos are the main draw but this means would-be dates often base decisions on looks alone.It's why many dating apps have introduced profile stickers to help catch the eye, and why BLK, a dating app for Black singles, is to launch its own.Insider was given a sneak peek of BLK's new stickers ahead of their expected launch Monday. They include "Caribbean Descent," "Black Biz Owner," and "Afro Latino.""We're doing stickers that really are endemic with the culture and the community that you might not see on other apps. So, think natural hair, dreadlocks, Caribbean descent, Afro Latino," Jonathan Kirkland, BLK's head of marketing, said. "Mainstream apps probably wouldn't go so deep into this level of representation."The 30 new BLK stickers were designed by Colombian-born, New York-based artist Leonel Gonzalez. Designs were based on surveys of BLK users, the majority of whom are Gen Z or millennials aged between 18 and 35.Kirkland said BLK's new "Poly" sticker came about when the company realized it had a large number of polyamorous users, despite polyamory being a topic often not discussed in the Black community.Kirkland said he hopes the stickers will reflect the community the app has built in recent years. He said that in the summer of 2020, the app effectively functioned as a crowd-sourced digital resource hub for the racial justice awakening that swept the world following the murder of George Floyd.The trend of introducing stickers to dating apps picked up during the pandemic, especially badges to signal one's vaccinated status. On OkCupid, for example, you can add a pro-choice label on your profile, while Bumble users can let fellow singletons know they're teetotal.BLK is part of Match Group, which also owns Tinder, Hinge, and OkCupid.Kirkland said he hoped the new BLK stickers would soon feature on t-shirts, hats, and other merchandise. "We're a dating app at our core, but throughout this year and next we're going to be moving more into the lifestyle space," Kirkland said.Here are some of BLK's new stickers:<div type="image" title="Locs are a hairstyle for people with natural Black hair." height="333" width="333" msid="91722862" hostid="261"></div><div type="image" title="This sticker represents Latinos who are Black." height="333" width="333" msid="91722864" hostid="261"></div><div type="image" title="Supporting Black businesses was a major call to action by Black activists following the murder of Floyd in the summer of 2020." height="333" width="333" msid="91722867" hostid="261"></div><div type="image" title="This sticker represents the natural hair movement within the Black community." height="333" width="333" msid="91722868" hostid="261"></div><div type="image" title="Kirkland told Insider that BLK is an inclusive app, open to LGBTQ+ users as well." height="333" width="333" msid="91722869" hostid="261"></div><div type="image" title="BLK wants to represent Caribbean-descended users with this sticker." height="333" width="333" msid="91722871" hostid="261"></div>Singles <a href="https://www.businessinsider.com/dating-apps-bringing-singles-bored-hinge-tinder-irl-2022-3">grew weary of dating apps</a> during the pandemic, leading many to seek in-person meets instead. New apps have taken the cue by facilitating in-person events.BLK hosted virtual homecomings during the pandemic but is now planning an in-person concert-cum-convention for Juneteenth, the US holiday commemorating the freedom of enslaved African Americans.

Black dating app BLK is rolling out profile stickers like 'Black Biz Owner' and 'Afro Latino' — take a look

<ul class="summary-list"><li>Business Insider reviewed "Unmasking AI: My Mission to Protect What Is Human in a World of Machines."</li><li>Joy Buolamwini, the author, discussed her inspiration and context for the book with BI.</li></ul><a target="_blank" href="https://www.businessinsider.com/the-ai-100-2023-the-people-who-make-ai-intelligent-2023-10">Joy Buolamwini</a>'s debut book, "Unmasking AI: My Mission to Protect What Is Human in a World of Machines," is a triumph in a literary work about artificial intelligence that isn't boring, highfalutin, or dry.Buolamwini's autobiographical work offers an origin story of AI technology as well as an account of the author's path. Its striking accessibility mirrors the meteoric rise of AI into the mainstream. The Massachusetts Institute of Technology researcher flexes her prose and occasionally documents her journey in an almost scientific telling of her early life in rural Mississippi with Ghanaian Canadian parents who encouraged her intellectual curiosity. Buolamwini would later go on to advise Congress and President Joe Biden on ethical and safe AI policy."I wanted to write this book now to invite more people into the conversation so it's not just that you have to be in the tech industry. You certainly don't need a Ph.D. from MIT to be part of the conversation," Buolamwini told Business Insider. "Because these technologies are shaping everybody's life in many important ways, I wanted a book that was an invitation to say, 'You're part of the conversation too, here is the context, but most importantly, here's what it means to you,'"Buolamwini's curiosities were nurtured first at Georgia Tech, and she later journeyed through the gilded halls of MIT, where she earned her Ph.D. Her experiences as a student defined her discovery of what she calls the coded gaze: "the ways in which the priorities, preferences, and prejudices of those who have the power to shape technology can propagate harm, such as discrimination and erasure."Many popular technologies are built with and perpetuate this exclusionary gaze, leading to detrimental consequences. Buolamwini especially documents the coded gaze applied to facial-recognition AI technologies, which serve as the subject for much of Buolamwini's research.At varying places in the book, I relived my excitement and eventual frustration as a young tech reporter covering the harm that <a target="_blank" href="https://www.businessinsider.com/in-every-reported-false-arrests-based-on-facial-recognition-that-person-has-been-black-2023-8">facial recognition</a> has wreaked on communities that looked like mine and were uncomfortably <a target="_blank" href="https://www.forbes.com/sites/monicamelton/2019/07/23/hud-bill-blocking-facial-recognition-wont-stop-landlords-plans-to-install-in-majority-black-building/?sh=27636bbd24f8">close to home</a>.Buolamwini also tells the story of a Brooklyn apartment complex.There, 90% of tenants were people of color, mostly women and older adults — all groups that facial recognition has been scientifically proven to be less accurate on. When the building owner sought to use facial recognition as a means for tenants to access their homes, it was met with strong opposition, and Buolamwini wrote an amicus letter of support for their cause. The tenants eventually succeeded in fighting this encroachment on their rights.In the book's more personal and vulnerable anecdotes, we see the nexus of Buolamwini's lived experience, expertise, and activism.From early in her childhood, when she was misgendered and when other kids breathed a sigh of relief for not having skin as dark as hers, to a guard reaching for a gun at the sight of her at Davos, to the choice of a news network to feature a white male AI expert over her for a television segment, readers can feel the misogynoir that has cast a shadow on Buolamwini's life and achievements."When a guard reached for a gun as a friend tried to drop me off at a hotel for designated badge holders, I was reminded that my inclusion in certain spaces was the exception to overall exclusion," Buolamwini writes of her experience at the <a target="_blank" href="https://www.businessinsider.com/everyone-talking-about-ai-plenty-clearly-dont-understand-davos-wef-2024-1">World Economic Forum</a>.Yet, through the exceptional quality of Buolamwini's life and research, her story becomes all the more human.At one point in the book, I was moved to tears by the story of Buolamwini writing a letter to the Olympic gold medalist <a target="_blank" href="https://www.businessinsider.com/simone-biles-surprise-return-elite-gymnastics-competition-2023-6">Simone Biles</a> after she <a target="_blank" href="https://www.businessinsider.com/simone-biles-fires-back-at-criticism-her-tokyo-olympics-performance-2021-9">withdrew from events at the 2020 Olympic Games</a>, citing safety.In the letter, Buolamwini marveled at Biles' ability to "put herself above the weight of gold." Her actions may have been an even harder feat as a Black woman who's often praised for her ability to endure rather than care for herself."When you're one of one or one of few, there's this extra pressure we put on ourselves because of the level of scrutiny we know people in our position get," Buolamwini told BI."If you're already internally a perfectionist and externally you already know there will be a micro comb through your actions, there is another type of self-monitoring and self-presentation that's adding to the wear and tear of the work itself," she added. "I realized that was an unfair burden I was putting on myself in reaction to a world that would not generally position me as the expert."After finishing the book, readers come away with a better understanding of AI. The gives details about certain companies, such as IBM's proactive approach to working with Buolamwini to fix an issue after its facial-recognition tool was shown to have a higher inaccuracy when applied to Black women. Amazon's response was to <a target="_blank" href="https://web.archive.org/web/20230519150059/https://aws.amazon.com/blogs/machine-learning/thoughts-on-recent-research-paper-and-associated-article-on-amazon-rekognition/">push back against Buolamwini's research</a>, which was then replicated and proven by the <a target="_blank" href="https://www.nist.gov/news-events/news/2019/12/nist-study-evaluates-effects-race-age-sex-face-recognition-software">National Institute of Standards and Technology</a>.Buolamwini shared her intention as she reflected on the process of writing the book and its namesake."The title, 'Protecting what is human in a world of machines,' part of it is our expression, our process of creativity; not just our process of the book, but what I learned in doing that," Buolamwini said. "Protecting our essence; protecting what's human is protecting our essence. Let's be still and recognize what makes us human."

Joy Buolamwini's 'Unmasking AI' unearths the bias in AI technologies and aims to hold Big Tech to account

From Rishikesh to Varanasi to Mumbai, India’s leading mobile payments and financial services company <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, is transforming businesses with the convenience and security of mobile payments, serving as a catalyst for financial inclusion. The innovative Paytm-pioneered QR code has empowered millions of people across the length and breadth of India with its reach and adoption. A man who sells idlis on his cycle in Varanasi recently caught the attention of social media. He has integrated Paytm QR into his business, accepting digital payments on the go. “Saw Paytm QR like this in Varanasi while having idli. He accepted <keyword id="4023222" type="General" weightage="20" keywordseo="paytm-payment" source="Orion">Paytm payment</keyword> not cash .. India is Truly digital and it would be immense pleasure for its founder when he visits roadside see similar things like this,” tweeted Lalit Jayswal. In Mumbai, a tadgola (ice apple) seller, as NPCI CEO Dilip Asbe tweeted, also uses Paytm to receive payments. “Bought summer special to beat the Mumbai heat at Carter road, Bandra using RuPay CC on UPI. With Digital Credit on UPI, the street vendors can now accept credit money and be part of the credit ecosystem,” he said. Paytm users can make UPI payments through their eligible RuPay credit cards, enhancing the vendor’s ability to accept a wider range of payment methods. Paytm’s reach extends even to the Ganga Ghat in Rishikesh, where an unschooled seller who sells flower baskets and empty cans for collecting Gangajal was seen taking digital payments with the help of Paytm. The reach and adoption of the Paytm-pioneered QR Code show how far India has come from a cash-reliant country to a digital-first economy. The revolutionary technology, as illustrated by a cobbler at Churchgate station in Mumbai with a Paytm QR, has been enabled by millions of shopkeepers, street vendors, and service providers. “Digital payments have also reached the bottom of the pyramid too. Came across this ⁦Paytm⁩ QR at Churchgate station,” tweeted Anurag Shah, who shared the picture. Paytm’s innovation does not stop at QR codes. The company pioneered Soundbox, a user-friendly device that announces payment confirmations through a voice alert. This feature helps merchants easily verify transactions without having to check their smartphones, making the payment process even more seamless and efficient. The widespread adoption of the <keyword id="9290101" type="General" weightage="100" keywordseo="paytm-qr-code" source="Orion">Paytm QR code</keyword> and the Paytm Soundbox is a testament to its ease of use and convenience for both merchants and consumers. The company has deployed over 71 lakh Soundboxes and remains the leader in person-to-merchant UPI payments in India. Disclaimer : This article has been reproduced from Paytm's blog. The opinions expressed are those of the organization and do not necessarily reflect the views of Business Insider India. For further details, you can get in touch with our team on insiderstudios@businessinsider.in

You Searched For "technological inclusion" and got 12 results

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