BYJU'S Targets Profitability 🤝, TCS Q2 Results 💰, JLR EVs 🚗, Google Messages 📲

Catch up on the latest in tech, business and startups - all in 5 minutes. [Newsletter Banner] Daily News Roundup Welcome to today's edition of the NextBigWhat Daily News! Today's top stories include BYJU'S targets for profitability, TCS Q2 results and dividend announcement, Jaguar Land Rover's electric vehicles plans, and Google Messages conversation selection feature. 📰 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( BYJU’S targets profitability by March 2024, considers selling Epic - BYJU’S is restructuring its operations into four core areas and reducing its workforce by 3,000-3,500 to achieve break-even by March 2024. - The company, which reported a loss of ₹4,588 crore in FY21, is set to finalize its delayed 2021-22 financial results in October. - To settle a $1.2 billion Term Loan B, BYJU’S is considering selling off Epic and possibly Great Learning, pending lender approval. Google executive compares search advertising to ‘cigarettes or drugs’ - Google’s VP for Finance, Michael Roszak, once likened the company’s search advertising business to illicit activities like ‘cigarettes or drugs’. - The Justice Department has used Roszak’s remarks in an antitrust case against Google, alleging the company used anticompetitive tactics to maintain dominance in the search business. - Google has objected to the document’s use in the case, stating it was drafted for a public speaking class and does not reflect the company’s views. PhonePe’s App Store: 3+1 questions [NBW Newsletter Ad]( nextbigwhat brings you curated news, product and tech trends across a range of industries. PhonePe has announced the launch of its upcoming app store (Indus), which is the result of its earlier acquisition of IndusOS. The PR so far has been about anti-Google stand. [Read]( AI systems will automate tasks, not jobs, and create better opportunities, says Sam Altman - Sam Altman, ChatGPT boss, emphasizes that AI systems are more efficient at automating tasks rather than jobs. - Altman acknowledges that AI may perform some of today’s jobs in the future, but believes it will lead to the creation of new and better jobs. - Reports from McKinsey and Goldman Sachs support Altman’s view, suggesting AI will enhance roles across various fields and complement most jobs rather than eliminating them outright. Tata Consultancy Services set to release Q2 results and interim dividend on October 11 - Tata Consultancy Services (TCS) will announce its Q2 results and consider an interim dividend on October 11. - The interim dividend, if declared, will be paid to equity shareholders on October 19. - In Q1 2023, TCS declared an interim dividend of Rs 9 per share and posted a 16.83% on-year rise in net profit. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( Jaguar Land Rover aims to introduce eight electric vehicles in India by 2030 - Jaguar Land Rover (JLR), a Tata Motors subsidiary, plans to launch eight battery electric vehicles (BEVs) in India by 2030, starting with the Range Rover BEV in 2025. - JLR’s Chief Commercial Officer, Lennard Hoornik, highlighted the strategic importance of the Indian market and the role of government subsidies and charging infrastructure in promoting electric vehicle adoption. - Tata Group’s recent £4 billion investment in a battery factory in England aligns with JLR’s electrification plans, indicating a significant step towards the electrified future of JLR’s vehicles. OpenAI faces lawsuits over alleged copyright infringement - OpenAI, the creator of ChatGPT, is facing two high-profile lawsuits from authors claiming the AI startup used their work without compensation. - The authors argue that OpenAI is creating ‘derivative works’ from their material and attempting to rewrite US copyright law in its favor. - High-profile authors involved in the lawsuits include Sarah Silverman, George R. R. Martin, Jonathan Franzen, David Baldacci, and John Grisham. X experiences user decline since Elon Musk’s takeover, says CEO Linda Yaccarino - CEO Linda Yaccarino revealed that X (formerly Twitter) has lost 11.6% of its daily active users since Elon Musk’s takeover, dropping to 225 million users. - Despite the user decline, 90% of the top 100 advertisers have returned to the platform in the past 12 weeks, and X aims to achieve profitability by 2024. - Yaccarino, who has been in her role for 12 weeks, also shared that X currently has 550 million monthly active users, but growth under Musk’s leadership is uncertain. China collaborates with Pakistan for Chang’e 6 lunar mission - China’s Chang’e 6 lunar mission will carry scientific instruments from France, Italy, the European Space Agency, and a Pakistani payload. - The mission aims to collect samples from the far side of the Moon, potentially marking the first instance of such collection. - To date, only the United States, the former Soviet Union, and China have successfully returned lunar samples to Earth, none from the Moon’s far side. Google Messages beta tests new conversation selection feature - Google is testing a new conversation picker for its Messages app on Android, replacing the ‘Select conversation’ pop-up with a fullscreen ‘Select recipients’ page. - The new design features a search function, recent conversations, and a full contact list, with the ability to select multiple recipients. - The feature is currently available in the Google Messages beta, but has not been widely rolled out yet. AI-based dating app SciMatch uses facial recognition to find compatible partners - SciMatch, an AI-based dating app, uses facial recognition to match users with potential partners based on personality traits identified in their faces. - The app, launched by sisters Yanina and Viktoryia Strylets, uses an AI algorithm named A.I. Ruby, which has been trained on a database of millions of faces. - Despite skepticism from some experts, the app claims an accuracy rate of 87% and a user response rate higher than Tinder’s. LinkedIn co-founder Reid Hoffman advocates for rapid AI development - Reid Hoffman, LinkedIn co-founder, supports ‘blitzscaling’ AI, a term he uses to denote rapid business growth. - Hoffman believes AI can tackle global issues like climate change and pandemics, and enhance access to education. - Despite concerns from other business leaders, Hoffman views AI development as a ‘humanity-positive’ endeavor and believes AI errors are solvable. Unified Payments Interface registers 10 billion transactions for second month in a row - Unified Payments Interface (UPI) recorded 10.56 billion transactions worth Rs 15.8 trillion in September, maintaining its volume from August. - PhonePe led the market with nearly 5 billion transactions, followed by Google Pay and Paytm with 3.7 billion and 1.36 billion transactions respectively. - NPCI has expanded UPI to several countries and industry experts predict a rise in UPI adoption, potentially reaching 1 billion daily transactions. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](