Top Tech News Today: Indian Farmers’ Woes and the Role of AI and ML. Coinbase Faces SEC’s Restriction on Trading Non-Bitcoin Cryptocurrencies

AI and ML have the ability to boost production, from predicting need to improving farming techniques

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today:  Reliance Reveals Milk Basket's Integration with JioMart

Fast-Track Insights: Coinbase Faces SEC's Restriction on Trading Non-Bitcoin Cryptocurrencies

Many of us in the sector have just noticed how AI and machine learning (ML) have changed farming and how we think about it. From grocery delivery to banking, ML models are widely used in India. And we are on track to see the potential of AI and ML in a farming burst, revolutionizing the industry, particularly in a country with a huge agrarian economy like India. The use of AI and ML in Indian agriculture will have far-reaching effects, including higher production, cheaper costs, and improved decision-making, as well as the ability for companies to supply fresh fruit that satisfies the requirements of their clients.

A Milkbasket spokesperson responded to ETRetail's inquiry about rumors that Reliance Retail planned to discontinue Milkbasket and launch a new "Jio Smart Daily" platform by saying that the brand has started the process of integrating with its e-commerce arm JioMart. Reiterating the same, a source in the business claimed that "Reliance plans to rebrand the Milkbasket application and focus only on promoting a single Jio brand." According to media estimates, 25 and 30 percent of Milkbasket's workers have been let off in the past several months.

According to a new McKinsey Global Institute analysis, more women are projected to lose their employment over the next decade as sectors contract owing to rapid advancements in generative artificial intelligence (AI) and automation technologies. Considering the rapid advancement of AI, it is estimated that around one-third of the working hours in the American economy would be automated by 2030. Customer service, office support, and food services are likely to contract more, while demand for STEM, construction, creative, legal, and business professionals is expected to increase. Read More

Before suing the exchange, the US Securities and Exchange Commission requested that Coinbase stop trading in all cryptocurrencies other than bitcoin. This request was made as a demonstration of the agency's intention to exercise regulatory control over a wider range of the market. Brian Armstrong, the chief executive of Coinbase, revealed to the Financial Times that the SEC suggested taking legal action against the Nasdaq-listed business last month for failing to register as a broker.