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IIT Alumni Council invites startups to join the next generation banking platform under the MegaFund initiative

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IIT Alumni Council invites applications from banking and fintech start-ups to be part of it’s next generation banking platform initiative. The platform proposes to pilot new paradigms in MSME funding under the regulatory sandbox or small finance bank licensing framework of the Reserve Bank of India. The platform and related ecosystem constituents could be partly supported by equity funding from the MegaFund consortium.

“Digital and Neo banks have disrupted conventional banking. Old paradigms of a physical bank branch and  hundred page loan agreements will soon cease to be relevant. The largest bank in India  has an indicative 25,000 bank branches and 250,000 people – yet, it struggles to meet the needs of the MSME sector. Smart contracts, cross border operations, digital lending, non-fungible tokens (NFTs) etc are now proven technologies. Yet, enabling widespread credit availability to the MSME sector remains an unsolved problem. The IIT Alumni Council is working to create an enabling ecosystem and next generation banking platform initiative to solve these challenges” said Ravi Sharma, President and Chief Volunteer of the IIT Alumni Council.

“There are areas in MSME funding that legacy banks can’t do and neo banks won’t do. Take coal production as an example. Future growth could come from automated robotic operations based on digital twins and artificial intelligence. These robots may be owned by hundreds of owners through fragmented ownership across countries. They should be operated by remote operators using global equipment modules. The complexity of such funding makes it very difficult for a legacy bank or a neo bank. This is not the comfort zone of NBFCs either and the largest player in this space is insolvent. Filling this void is critical for the success of Indian manufacturing. And startups are one possible route to new technologies and thus new solutions” adds Dr. Rakesh Seth, an eminent investment banker, IIT Alumnus and  member of the Next Gen Banking Task Force.

To be eligible for participation in the banking platform consortium, the start-up should be incorporated as a company, registered with Startup India, have raised at least Rs one crore from shareholders (which should include at least one IIT alumnus or alumni managed entity) and have draft or audited accounts for the financial year 2021-22. Applications meeting these five eligibility conditions may be sent to [email protected].

Artificial Intelligence

Unitree Robotics issues G1 Humanoid agent AI avatar

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HANGZHOU, China, May 16, 2024 /PRNewswire/ — On May 13, Unitree Robotics introduced its latest masterpiece — Unitree G1 Humanoid agent, AI avatar! It immediately caused a sensation in the global AI and robotics fields.

The robot is about 127 centimeters tall and weighs about 35 kilograms. It has flexibility beyond ordinary people and unlocks unlimited movement potential. The walking speed of G1 is about 2m/s. It has a large joint movement space, with 23-43 joints, and the maximum joint torque can reach 120N.m. It can perform high-load dynamic movements, such as dynamic stand-up, seat folding, dance stick, etc. At the same time, G1 is based on deep reinforcement learning and simulation training, and uses the accelerated development of AI to continuously upgrade and evolve.
G1 can be equipped with the optional Dex3-1 force-controlled dexterous hand. Through force-position hybrid control, G1 can simulate the precise operation ability of the human hand and accurately control various objects. Whether it is smashing walnuts, carrying heavy objects, or picking up fragile objects such as eggs, the G1 can demonstrate extremely high accuracy and stability. What’s more worth mentioning is that the G1 robot can also easily handle delicate operations such as opening soda bottles and welding. These tasks that were considered difficult for machines in the past have now become a piece of cake under the dexterous control of the G1.
The G1 is equipped with Intel RealSense D435 and LIVOX-MID360 3D lidar, which can achieve 360° detection and perception. These sensors provide a powerful perception hardware foundation, allowing G1 to better understand the surrounding environment. In addition, the G1 power supply module supports two hours of battery life and quick disassembly.
There are two versions of the G1 humanoid robot released this time, namely G1 and G1 EDU. The price of G1 is $16k. As an advanced version, G1 EDU provides a combination of different module solutions, and the price is customized according to different customer needs. Compared with G1, G1 EDU supports Dex3-1 force-controlled dexterous hand installation, optional tactile sensor arrays, greater knee joint torque and arm load, and optional NVIDIA Jetson Orin high computing power module to support secondary development.
Unitree also released the robot world model, providing a co-creation platform: UnifoLM (Unitree Robot Unified Large Model), allowing everyone to jointly create a new era of intelligent agents and explore unlimited innovation possibilities.
Introduction: https://www.unitree.com/g1 
Website: www.unitree.com 
Contact: [email protected] 
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IBM Expands Qiskit, World’s Most Performant Quantum Software

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Qiskit now refined as a comprehensive quantum software stack, focused on performance and stability to fully harness the power of utility-scale quantum hardware, and enable users to run increasingly more complex quantum circuits in the search for quantum advantage. YORKTOWN HEIGHTS, N.Y., May 15, 2024 /PRNewswire/ — IBM (NYSE: IBM) today announced the evolution and expansion of Qiskit, its globally adopted quantum software. Launched in 2017, Qiskit, as a software development kit (SDK) is an open-source tool that has allowed over 550,000 users to build and run quantum circuits on IBM’s quantum hardware systems, resulting in the execution of over 3 trillion quantum circuits to date.

The latest version of Qiskit has been expanded to a comprehensive software stack to deliver even more performance. It has evolved from its beginnings as a popular quantum software development kit used to explore and run quantum computing experiments and into a stable SDK and portfolio of services, built to enable users to extract improved performance while running complex quantum circuits on 100+ qubit IBM quantum computers.
This expansion will equip members of the IBM Quantum Network with the most performant Qiskit capabilities available to discover the next generation of quantum algorithms in their respective domains: which will play an important role in their discovery of quantum advantage.
To reach quantum advantage, users need a toolset which can map their problems in a way which leverages both advanced classical and quantum computation; optimizes the problem for efficient execution with quantum; and then effectively executes the quantum circuits on real quantum hardware. IBM has spent the last seven years developing these tools, which are now coming together to comprise the Qiskit software stack.
This expansion of Qiskit includes over 100 releases from its origins as a pioneering research tool built to study the inner workings of quantum computers. Today, Qiskit has matured as a software stack on which enterprises, government organizations, research institutions, and universities are running large-scale quantum experiments.
The expanded software stack of Qiskit includes:
The stable release of Qiskit SDK v1.x for building, optimizing, and visualizing quantum circuits.AI-powered optimization of quantum circuits for quantum hardware, embedded in the Qiskit Transpiler Service. Simplified execution modes for the Qiskit Runtime Service which can be tailored for performant execution of quantum circuits on quantum hardware.The Qiskit Code Assistant, powered by watsonx-based generative AI models, to automate the development of quantum codeThe Qiskit Serverless open-source tool to run quantum-centric supercomputing workloads across quantum hardware and classical clusters.The deployment of new capabilities and improvements within Qiskit SDK are enabling users to optimize circuits for quantum hardware at a rate 39 times faster than Qiskit 0.331. Qiskit also is engineered to reduce the overhead and shrink the footprint of circuits, demonstrating an average of 3 times reduction in memory usage compared to Qiskit 0.43.2
And using the Qiskit Transpiler Service, users can reduce circuit depth by combining AI and heuristic passes, compared to using the Qiskit SDK without AI optimization.
“The global adoption of quantum computing — and the discovery of quantum advantage — will require a combination of leading quantum hardware alongside a robust and performant software stack to run workloads,” said Jay Gambetta, IBM Fellow and Vice President, IBM Quantum. “These two pillars are fundamental to the algorithm discovery that has begun on utility-scale quantum hardware. As a growing quantum ecosystem maps their most difficult problems to quantum circuits, the Qiskit stack will be the cornerstone to exploring the computational spaces in which quantum computing excels.”
IBM first demonstrated the utility-scale capabilities of its quantum hardware in 2023. This signaled the start of an era in which quantum hardware can run quantum circuits faster and more accurately than a classical computer simulating a quantum computer can. Now built to maximize the performance of advanced quantum hardware, the Qiskit software stack aims to help a global ecosystem of users discover new quantum algorithms that explore where quantum computers could be the best way to solve challenges over any classical method.
“Qiskit provides an important collection of tools for E.ON as we explore how quantum computing could help us navigate the financial and operational complexities of the energy industry,” said Giorgio Cortiana, Head of Data and AI – Energy Intelligence, E.ON. “As a performant foundation to build and discover quantum algorithms that can be applied to business use cases, Qiskit enables our team to advance utility-scale prototypes, with the goal of finding new solutions to challenges in the European energy sector.”
“We started using Qiskit for our quantum computing efforts several years ago as part of an effort to help develop a quantum-ready workforce,” said Stephan Eidenbenz, senior scientist at Los Alamos National Laboratory. “Laboratory researchers use Qiskit daily to interact with IBM’s quantum hardware backends and to test new algorithmic ideas. The open nature of Qiskit also offers our team the ability to add compiler optimization passes and allows pulse-level access.”
“At Brookhaven, we have used Qiskit to execute circuits on IBM’s quantum hardware, which has resulted in almost 20 published papers to date, including exploring the frontiers of physics, dynamic systems, condensed matter systems, and more. Qiskit has also enabled our teams to develop extensions that push forward our exploration of bosonic and hybrid qubit-bosonic circuits, and how they could advance fundamental quantum algorithm development and error correction,” said James Misewich, Associate Laboratory Director for Energy and Photon Sciences, Brookhaven National Laboratory. “As we advance the scientific applications of quantum computing, we have incorporated IBM’s Qiskit resources and tutorials into our educational programs through Brookhaven’s Co-design Center for Quantum Advantage, where we partner with academic institutions like Stony Brook University to prepare the quantum workforce of the future.”
“For our Quantum Computing User Program here at Oak Ridge National Laboratory, advances in quantum computing software can help support the innovation and rapid growth of our user community and their developing technologies,” said Travis Humble, director of the Department of Energy’s Quantum Science Center at Oak Ridge National Laboratory. “Improvements in software performance will significantly impact how users test and evaluate the potential of today’s quantum computing systems.”
“The team at Q-CTRL is enthusiastic about building with Qiskit,” said Michael J. Biercuk, CEO and Founder of Q-CTRL. “Its flexible new interfaces and enhanced stability are enabling us to efficiently build simple abstractions on top of our powerful performance-management software at utility scale, so end users can explore their toughest problems with a single command.”
Built for the Era of Quantum Utility and Beyond
Through its support of rapidly advancing quantum hardware, including vendor-agnostic flexibility, the Qiskit software stack is designed to run the breakthrough quantum circuits to progress the era of quantum utility. This is achieved by replacing performance-critical code with the Rust programming language, alongside a full portfolio of tools to enable the efficient execution of quantum circuits.
As IBM continues to build milestones along its IBM Quantum Development and Innovation Roadmap towards error-corrected systems, the company expects that Qiskit will continue to deliver a framework for open, iterative, and collaborative development of new quantum algorithms and applications, done in conjunction with a growing global ecosystem of clients across industries and domain expertise areas.
Additionally, these advancing capabilities will aim to help users weave together classical and quantum computing resources into a new paradigm of high-performance computing defined by quantum-centric supercomputing that integrates QPUs, GPUs, and CPUs. Orchestrated through the performant software layer of Qiskit, this next evolution of high-performance computing aims to open up new, large, and powerful spaces for industries globally.
Disclaimer: IBM’s statements regarding Qiskit’s performance compares the current iteration of the software against its performance from applicable previous version when comparable features were available to users. Qiskit 0.33 total speed time equaled 430.89 seconds at IBM Quantum Summit 2021. Qiskit 1.0 total speed time equaled 10.9 seconds upon release in February, 2024.Disclaimer: IBM’s statements regarding Qiskit’s performance compares the current iteration of the software against its performance from applicable previous version when comparable features were available to users. Qiskit 0.43 memory usage equaled 1,750 MiB in May, 2023. Qiskit 1.0 memory usage equaled 580 MiB upon release in February, 2024.IBM’s statements regarding its plans, directions, and intent are subject to change or withdrawal without notice at IBM’s sole discretion. The development, release, and timing of any future features or functionality described for our products remain at our sole discretion.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.
MEDIA CONTACTS
Erin AngeliniIBM [email protected] 
Chris NayIBM [email protected]
 
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Southeast Asia Data Center Construction Market Investment to Reach $5.29 Billion by 2029 – Exclusive Research Report by Arizton

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CHICAGO, May 15, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Southeast Asia data center construction market is growing at a CAGR of 11.69% during 2023-2029.

To Know More, Click: https://www.arizton.com/market-reports/southeast-asia-data-center-construction-market
Browse in-depth TOC on the Southeast Asia Data Center Construction Market 
 36 – Tables          116 – Figures          352 – Pages      
Southeast Asia Data Center Construction Market Report Scope
Report Attributes
Details
Market Size – Investment (2029)
USD 5.29 Billion
Market Size – Investment (2023)
USD 2.80 Billion
CAGR – Investment (2023-2029)
11.18 %
Market Size – Area (2029)
3,079 Thousand Square Feet
Power Capacity (2029)
578 MW
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Regional Analysis
Southeast Asia (Singapore, Indonesia, Malaysia, Thailand, Philippines, Vietnam, and Other Southeast Asia Countries)
The Southeast Asia data center construction market is one of the fastest-developing markets globally, driven by the increase in cloud adoption, the advent of 5G services, and the adoption of AI, Big data, and IoT technology. Singapore, Malaysia, Indonesia, and Thailand have robust connectivity and are among the most connected countries in Southeast Asia. Singapore is the gateway and an integral interconnection point to several APAC countries, including Japan, South Korea, Vietnam, and Pakistan. The adoption of cloud-based services will likely be a significant driver of the data center market over the next few years.
Moreover, Singapore boasts the largest existing capacity in the region, and countries such as Malaysia, Indonesia, and the Philippines are outpacing it in terms of new investments, collectively capturing over 50% of the market share for new investments. This trend can be attributed to several factors, including lower energy costs, increased renewable energy sources, and inexpensive labor and land availability. These factors are influencing companies’ decisions to invest in these emerging markets.
Watch Out for How Advancing in Adoption of AI Boosting the Market Growth
In June 2023, Run ai, a company that manages computing resources for AI tasks, announced a strategic partnership with AI Singapore. AI Singapore, a national R&D initiative led by the National Research Foundation, Singapore, aims to establish strong AI capabilities in the country. This collaboration aims to provide scalable infrastructure solutions for various AI projects and assist AI Singapore in its mission to expedite AI adoption across industries.AI Singapore, as the country’s AI initiative, holds a pivotal position in aiding organizations in adopting AI solutions. It has made significant strides through its notable 100 Experiments Programme (100E) and the acclaimed AI Apprenticeship Programme (AIAP). Collaborating with over 60 companies, they’ve trained over 200 Singaporean AI engineers to create, assess, and implement numerous AI models that tackle real-world challenges.While AI investments primarily focus on Singapore, nine out of the top 10 deals involved start-ups based in Singapore that cater to various businesses and use cases throughout the region. For instance, Biofourmis, a health analytics platform analyzing physiological data from clinical-grade wearables, operates in both Singapore and Indonesia. Similarly, Tookitaki, a sophisticated decision-support system for compliance programs in the financial services sector, extends its operations across the six major Southeast Asian countries.The Southeast Asia Colocation Data Center Market by Investment to Reach $4 Billion by 2029
In Southeast Asia, colocation investments in Singapore declined significantly over the last few years owing to the lack of space for new builds. This has led to the spill over demand toward Indonesia and Malaysia. The upcoming capacity of under-construction announced and planned data center campuses across these two countries will overtake Singapore’s existing colocation capacity. In the same year, BDx Indonesia, Chindata Group, EdgeConneX, Equinix, Keppel Data Centres, GDS Services, Princeton Digital Group, and others invested in developing colocation data center facilities in the region.
The Southeast Asia Data Center Construction Market Report Encompasses Crucial Data, Including:            CAGR (Compound Annual Growth Rate) during the forecast period: This metric provides insights into the annual growth rate of the Southeast Asia data center construction market over the specified time frame.            Detailed information on growth drivers: The report offers in-depth information on the factors that will propel the Southeast Asia data center construction market growth from 2023 to 2029. This includes an analysis of various market influences.            Precise estimation of market size: Accurate assessments of the Southeast Asia data center construction market size and its contribution and focusing on key market segments.            Predictions about upcoming trends and changes in consumer behavior: The report offers insights into anticipated trends and shifts in consumer behavior that are likely to impact the Southeast Asia data center construction market helping businesses prepare for future market dynamics.            Geographical market growth: The report covers the development of the data center construction market across Southeast Asia.Competitive landscape analysis: A thorough examination of the market’s competitive landscape is presented, including detailed information about companies operating in the Southeast Asia data center construction market. This includes an overview of key players, their market share, strategies, and key developments.            Analysis of growth challenges: The report includes a comprehensive analysis of factors that may pose challenges to the growth of companies in the Southeast Asia data center construction market, providing a well-rounded view of the market dynamics.     
Buy this Research @ https://www.arizton.com/market-reports/southeast-asia-data-center-construction-market
Post-Purchase Benefit                          
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas: 
Facility Type
Colocation Data CentersHyperscale Data CentersEnterprise Data CentersInfrastructure
Electrical InfrastructureMechanical InfrastructureGeneral ConstructionElectrical Infrastructure
UPS SystemsGeneratorsTransfer Switches & SwitchgearPDUsOther Electrical InfrastructureMechanical Infrastructure
Cooling SystemsRacksOther Mechanical InfrastructureCooling Systems
CRAC & CRAH UnitsChiller UnitsCooling Towers, Condensers & Dry CoolersOther Cooling UnitsCooling Techniques
Air-based CoolingLiquid-based CoolingGeneral Construction
Core & Shell DevelopmentInstallation & Commissioning ServicesEngineering & Building DesignFire Detection & SuppressionPhysical SecurityDCIM/BMS SolutionsTier Standard
Tier I & IITier IIITier IVGeography
Southeast Asia
SingaporeIndonesiaMalaysiaThailandPhilippinesVietnamOther Southeast Asia CountriesVendors
Key Construction Contractors
ArupAurecon GroupCSF GroupDSCO GroupGammon ConstructionNTT FacilitiesPM GroupStudio One DesignOther Prominent Construction Contractors
AtkinsRéalisAWP ArchitectsCorganDPR ConstructionFirst BalfourFortis ConstructionISGKienta Engineering ConstructionLinesightLSK EngineeringM+W GroupNakano CorporationObayashi CorporationPowerware SystemsSato KogyoRed EngineeringProminent Support Infrastructure Vendors
ABBCaterpillarCisco SystemsCumminsDell TechnologiesEatonRittalSchneider ElectricSTULZVertivOther Prominent Support Infrastructure Vendors
AiredaleAlfa LavalCanovateCyber Power SystemsDelta ElectronicsEAEFuji ElectricFujitsuGreen Revolution CoolingHewlett Packard EnterpriseHITEC Power ProtectionHuawei TechnologiesKOHLER PowerLegrandLenovoMitsubishi ElectricNaradaNortek Air SolutionsPiller Power SystemsRolls-RoyceShenzhen Envicool TechnologySiemensSocomecTraneProminent Data Center Investors
Amazon Web ServicesChindata Group (Bridge Data Centres)DCI IndonesiaDigital RealtyePLDTEquinixGDS ServicesKeppel Data CentresNTT DATAST Telemedia Global Data CentresTelkom IndonesiaVADS (Telekom Malaysia)Viettel IDCOther Prominent Data Center Investors
AirTrunkBeeinfotechBig Data Exchange (BDx)Converge ICT SolutionsDigital Edge DCMeta (Facebook)FPT TelecomGoogleMettaDCMicrosoftOneAsia NetworkOpen DCPrinceton Digital GroupSingtelVantage Data CentersNew Entrants
CtrlS DatacentersDigital HaloEdgeConneXEvolution Data CentresFlow Digital InfrastructureFutureData (Cyclect Group + TSG Group)Gaw CapitalI-BerhadInfinaxis Data CentreInfracrowd CapitalK2 Data CentresMinoro Energi IndonesiaNautilus Data TechnologiesPure Data Centres GroupYCO CloudYTL Data CenterYondrKey Questions Answered in the Report:
How big is the Southeast Asia data center construction market?What is the estimated market size in terms of area in the Southeast Asia data center construction market by 2029?What is the growth rate of the Southeast Asia data center construction market?What are the key trends in the Southeast Asia data center construction market?How many MW of power capacity is expected to reach the Southeast Asia data center construction market by 2029?
Get Detailed TOC @ https://www.arizton.com/market-reports/southeast-asia-data-center-construction-market
Check Out Some of the Top Selling Research Reports:
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https://www.arizton.com/market-reports/latin-america-data-center-construction-market-size-and-analysis-2024
Southeast Asia Data Center Market Landscape 2023-2028
https://www.arizton.com/market-reports/southeast-asia-data-center-market
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.                                                     
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