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What's New Today: Byju's commits to no layoffs until the end of August.
Fast-Track Insights: RBI's crypto position gets endorsement from a majority of G20 countries
A generative AI-based service that competes with ChatGPT is being tested by Apple employees. The service is similar to an internal ChatGPT-like service that the company already offers. The service helps employees to prototype future features, summarize text and answer questions based on the data it has been trained with, according to a report by Bloomberg's Mark Gunman. The company plans to release its AI offering next year.
On Monday, chief content officer Vinay Ravindra of Byju's is believed to have told employees in the company's main Bengaluru office in IBC Knowledge Park, Bannerghatta that the tech giant may pause layoffs till the end of August. This coincided with the day that some of Byju's lenders consented to alter the terms of the controversial $1.2 billion Term B Loan that the company has been finding hard to repay. The company, which has been criticized for letting go of nearly 5,000 employees (including 1,000 earlier this month) seems to have offered a temporary respite. It is unclear if it will resume trimming its workforce after August.
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New Delhi According to people with knowledge of the matter, most G20 members now concur with India's central bank that cryptocurrencies could jeopardize the stability of the financial system. They said that these countries may attempt to devise an internationally-accepted regulatory framework for crypto-assets while allowing individual jurisdictions to implement stricter regulations beyond that minimum threshold, even a full ban
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