What's New Today: Fresher Hiring to Drop by 50% in FY24 for Indian IT
Fast-Track Insights: New crypto regulations may help Turkey exit FATF 'grey list'
Earlier this year, "Ernie Bot" was introduced by the massive Chinese search engine Baidu. According to the company, its chatbot is capable of performing tasks specific to the industry, such as creating PowerPoint presentations and summarizing financial statements. In November, Baidu released a premium edition of the chatbot that resembles ChatGPT. For CNY 59.9 (about US$8) a month, Baidu offers a premium version of the Ernie bot. It was the first of several Chinese chatbots with AI capabilities that have been introduced this year.
Top-tier Indian IT services companies' hiring of new hires is expected to drop by half in the current fiscal year due to concerns about a slowdown affecting the US$250 billion outsourcing sector as a whole. It wasn't until 2008 that outsourcers stopped hiring on campuses. Following the release of their second-quarter profits, Infosys Ltd. and Wipro Ltd. decided not to hire on campus this year. HCL Technologies Ltd. will fulfill its pledge to hire 10,000 people, while Tata Consultancy Services Ltd. intends to adhere to its goal of onboarding 40,000 freshers. According to the data, hiring of freshmen is expected to decline by roughly 40–50% in FY24.
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Turkey is purportedly creating new regulations to control cryptocurrency assets in an attempt to persuade the Financial Action Task Force (FATF), a global body tasked with addressing financial crimes, to take it off of a "grey list" of countries that have not gone far enough in the fight against money laundering and terrorist financing. Turkey was added to the FATF's gray list in 2021. Turkish Finance Minister Mehmet Simsek reportedly stated, "During a discussion with a parliamentary commission on October 31, a FATF report determined that Turkey adheres to all but one of the 40 standards set by the watchdog."
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