#BigDaily: AI Arms Race; UPI Surprise; PhonePe Raising at $10Bn valuation

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Welcome to #BigDaily, the newsletter from NextBigWhat that brings curated news from the wild web, saving you time and effort. Here goes today’s edition.

AI arms race is now no more a theoretical discussion. It is getting real and China is going all-in to win this.

There are 55 million people who hold at least a graduate degree. About 9 million of them are unemployed. The aspiration for well-paid jobs has led to students continuing their studies in the hope of a decent job at the end.

Today List is a to-do list for Slack with a one-day deadline to every task you add. Complete the tasks in 24 hours or they’ll expire.

While Paytm had 221 million transactions, Google Pay and PhonePe both had just a whisket short number of 220 million. Total value of UPI transactions in January had been 1.05 Lakh Crore rupees.

IT companies expect FY20 to be lower or at par with FY19. Customers may cut back spending due to fear of a US recession. Brexit further adds to the woes.

“Given the short notice of the hearing, we informed the committee that it would not be possible for senior officials from Twitter to travel from the United States to appear on Monday,”, said Twitter. Parliamentary standing committee is now exploring tough action against company for not sending CEO to its meeting.

After the raise of IT exemption limit to Rs.5 Lac in the budget, out of 6.3 Crore tax-payers which country had, now 3 Crore would pay nothing.

Anil Ambani-led Reliance Group companies have lost Rs.13,000 Crores or nearly 55 per cent drop in market capitalisation in just 4 trading days. 72 Lac retail and institutional investors left in lurch.

CodeBot is an interactive bot, intended to be a programmers’ personal assistant. It can assist programmers in auto-generating code skeleton (scaffolding code) by understanding the specifications in natural language. The…
From current 54% share of hotels and accomodations, MakeMyTrip wants to take it to 70%, by 2022. Currently, 33% revenue comes from Air travel.

Tata Motors has started supply of 40 e-buses to Lucknow City Transport Services Ltd. These buses have a range of 150 Kms and it will take 4 months to fulfill the complete order.

Tiger Global, Tencent also likely to invest in Flipkart payments platform. The interest comes at a time when PhonePe is looking at a $10 billion valuation

The deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY) have already crossed 89,257 Crores till 30th January. There has been a surge in deposits after increase in the insurance cover to 2 Lac, under the scheme.

9 Crore TV homes out of total 17 Crores  (7 Crore DTH homes and 10 Crore Cable TV homes) have already switched to the new tariff regime announced by TRAI.

Jio has Saavan, Airtel has Wynk, and Vodafone-Idea has ‘nought’. It plans now to get in to the battle. Isn’t it too late?

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