Intellect AI Aims For USD 100 Million By 2029 Through Their Newly Launched Purple Fabric

* Intellect aims to secure over 50 customers targeting $ 100 million business in next 3-5 years, tailored specifically for Financial Institutions (FIs).

IntellectAI, a business unit of Intellect Design Arena Ltd focussing on cutting edge Artificial Intelligence technologies, announces the launch of Purple Fabric, a pioneering platform that accelerates enterprise AI adoption for financial institutions (FIs). Leveraging the potential of the First Principles Thinking based Composable and Intelligent Open Finance Platform eMACH.ai, Purple Fabric represents the next step in the evolution of AI, advancing from basic automation to Enterprise Connected Intelligence, enabling FIs to achieve substantial business impact.

“Purple Fabric is more than just a platform; it's a productivity powerhouse that empowers financial institutions to harness AI for real business impact," said Banesh Prabhu, CEO of IntellectAI. "Our vision is to enable Financial Institutions to seamlessly integrate AI into their operations, achieving new levels of accuracy, speed, and efficiency. With its modular design and advanced AI capabilities, Purple Fabric equips FIs to navigate the complexities of the financial landscape with confidence, paving the way for the future of work through Ethical AI."

The true power of AI lies in enterprise-connected intelligence. Recognizing this, Intellect leveraged its three decades of domain expertise to develop Purple Fabric—a decision-grade AI platform designed to overcome data fragmentation and silos. The platform emphasizes Ethical AI, addressing data biases and ensuring traceability with a comprehensive audit trail.

Purple Fabric is a groundbreaking enterprise AI platform that transforms enterprise data into actionable AI insights and solutions. By making data RAG-ready (Retrieval-Augmented Generation) and enabling subject matter experts to quickly build and deploy AI-driven solutions, it creates a knowledge bank from six key sources: structured and unstructured enterprise data, policies, market data, and regulatory information, and tacit knowledge. This foundation allows the AI Expert Agent System to achieve precise, goal-driven outcomes with exceptional accuracy and speed. Additionally, Purple Fabric introduces SWARM (Situational Workflow Automation and Rapid Micromodeling) capabilities, enhancing human efficiency through adaptive and responsive automation workflows.

Purple Fabric offers FIs the opportunity to align their AI ambitions with an honest appraisal of enterprise readiness and adopt a modular transformation design journey. There are six powerful Purple Fabric products. PF Imagine, an ultimate AI solution builder for Product Managers to independently design and implement AI use cases without the need for Data Scientists. The PF Govern empowers organisations to maximize Generative AI's potential while upholding strict governance standards. It addresses 14 key governance issues and provides detailed references for auditing data sources, verifies data integrity, and enforces user management policies. PF DIMS (Document Intelligent Management System) enables enterprises to create AI-based document intelligence and consume it as an API in various applications. This is achieved through a combination of four high-performance technologies - Document Ingestion, Classification, Extraction, and Trusted Data. PF Expert Agent utilises knowledge from various sources to drive actionable intelligence. It is also for the creation of autonomous user journeys with AI nudges and alerts. At a recent AI Bootcamp, five teams built their own expert agents in just three days. PF Triad embodies seven key regulations established by the European Union by ensuring unbiased decisions and recommendations for key enterprise roles. It has been successfully implemented in wealth advisory, complex investigations, and loss runs, setting a new standard for unbiased decision-making in financial services and PF LLM Benchmark assesses coding tasks, reasoning, and language understanding. It includes anonymous battles between LLMs, multi-turn questioning, common-sense reasoning questions, prompt effectiveness evaluation, leaderboards, and more.

About Intellect Design Arena Limited

Intellect Design Arena Ltd is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across 57 countries. Intellect’s revolutionary  First Principles Thinking-based Enterprise Connected Intelligence Platform, eMACH.ai, is the most comprehensive, composable, and intelligent open finance platform in the world.  With an impressive array of 329 microservices, 535 events, and over 1757 APIs, eMACH.ai enables financial institutions to design and deploy future-ready technology solutions that provide a significant global competitive edge.

With three decades of domain expertise, Intellect offers a full spectrum of banking and insurance technology products through four lines of business: Global Consumer Banking (iGCB), Global Transaction Banking (iGTB), IntellectAI and Digital Technology for Commerce (iDTC).  Intellect is a pioneer in applying Design Thinking and our 8012 FinTech Design Center, the world's first Design Center dedicated to Design Thinking Principles, underscores our commitment to continuous and impactful innovation, addressing the ever-growing need for digital transformation. We proudly serve over 325+ customers worldwide, supported by a diverse workforce of solution architects and domain and technology experts in major global financial hubs. For more information about Intellect, visit https://www.intellectdesign.com/

IntellectAI, a business unit of Intellect Design Arena Ltd focusing on cutting edge Artificial Intelligence technologies, empowers institutions with intelligent tools that improve customer engagement, streamline underwriting and claims processes, and enable data-driven strategies.

Karnataka Tops India With 19% Youth Aspiring To Be Digital Influencers, 16% To Found Startups; The iQOO Quest Report 2024

iQOO, a sub-smartphone brand of the vivo group announces the release of its first The iQOO Quest Report 2024 with CyberMedia Research (CMR) on the Gen Z traits and trends on dreams, career, and aspirations.The report unveils the dreams and passion journey of this unendingly optimistic generation, one of the largest across the world. It encapsulates insights from 6,700 respondents, aged between 20-24 years, 7 countries- India, United States of America, United Kingdom, Brazil, Malaysia, Thailand, and Indonesia. The report covers three broad areas: Gen Z Questers’ spirit & motivation to fulfil their dreams, obstacles & barriers that disrupt their quest for passion, and career choices that drive their interests.

In today's era, fame and success are measured by online popularity, fleeting as a blink in the fast-paced social media world. With Gen Z craving their 15 minutes of fame, this trend raises questions about the allure and ethics of such careers. While influencer culture thrives, India's startup ecosystem is also booming, now the world's third-largest. This situation underscores a crucial consideration: whether the youth aspire to be "job creators" or "digital celebrities" in this evolving landscape.

Delving into various aspects of what success means to Gen Z, the report decodes Questers’ drive, passion and ambition through a quantitative metric- Quest Index, or “QI”. The results showcase India’ s QI as 9.1 followed by Malaysia with 8.7 QI, Thailand & USA with 8.2 QI, Indonesia with 8.1 QI, United Kingdom with 8 QI, and Brazil with 7.8 QI.

Some of the key Karnataka highlights from the report include:

*      2.5X of national average Gen Zs in Karnataka want to be a leading digital influencer.

*      2X of national average Gen Zs in Karnataka want to become an entrepreneur and be a part of the startup ecosystem.

*      49% of Gen Z Karnataka get challenged by the barriers but do not deter from them.

*      30% fewer youth consider lack of opportunities as a barrier to pursuit of their dreams compared to national average

*      This trend is reversed for India with more youth finding higher education more relevant than jobs after graduation.

Some of the key ‘Global & Indian’ highlights from the report include:

*      43% respondents in India and 46% globally are willing to give up work-life balance to succeed in their career.

*      8 out 10 (80%) Gen Zs in India believe gender disparity is the biggest hurdle in their quest for success.

*      2X of women feel gender affects the pursuit of their dreams compared to men.

*      1 out of 4 Indian respondents are more inclined towards new-age job fields like content creation, data analysis, AI, and cybersecurity.

*      Indian youth are hustlers, they take 2X the initiatives compared to their global peers.

*      India ranks #1 globally on youth have big dreams and clarity on aspirations

*      84% of Indian Questers believe their jobs align with their goals, compared to 72% globally.

*      91% of the Indian respondents believe that gap year can help them pursue their dreams and aspirations.

*      46% feel financial constraints as a barrier to pursue their choice of career. However, over 90% are confident in achieving their dream despite the barrier.

*      65% see failure as a learning opportunity, and 60% believe it pushes them towards their dreams

*      51% of Questers said that they would take up higher studies to support their quest while 32% believe they should take up relevant jobs to support their dreams.

*      49% of the Indians believe mentorship by experts is a powerful tool to support their aspirations.

Executed by iQOO with CyberMedia Research (CMR) with 6,700 respondents aged between 20-24, the report sources insights across 7 countries- India, United States of America, United Kingdom, Brazil, Malaysia, Thailand, and Indonesia. The primary research also highlights 62% of the Indian youth willing to give up their hobbies and other interests to achieve their dreams. All findings from the report tie back to how the snap savant Gen Z are fueled by their desire to achieve more despite anything.

Commenting on the release of the report, Nipun Marya, CEO, iQOO India, said, “iQOO embodies the spirit of quest, resonating with the Gen Z in every communication. As a brand dedicated to pushing boundaries and striving for more, iQOO echoes these values to its Gen Z audience. Reinforcing our commitment to supporting dreams, last year, iQOO onboarded India's first 23-year-old Chief Gaming Officer from Kanpur. We are committed to creating opportunities that enable the youth to pursue their passions. The brand actively engages in initiatives that help individuals realise their potential and the report is an effort towards that. The aim is to inspire the Gen Z to embark on their own quest despite numerous challenges and achieve their dreams. The report findings provide valuable insights into understanding Gen Z better, enabling us to cater to their needs more effectively.”

While sharing views on the report, Prabhu Ram, Vice President– Industry Research Group, CyberMedia Research (CMR) said, “In our increasingly complex, digitally-driven world, today’s youth face unprecedented challenges. At CyberMedia Research (CMR), we have been at the forefront of understanding these evolving consumer paradigms. CMR’s research done for The Quest Report, commissioned by iQOO, explores the perspectives of a brave new generation of youth across Asia, Europe, North America, and South America, providing invaluable insights into their mindset and their quests. The high levels of clarity and focus on big dreams along with a hustler mindset underscore the state of today’s youth in India.”

The Quest Report highlights the tremendous potential India holds on the global stage and underscores the optimism driving this remarkable generation.

About iQOO:

iQOO is a leading premium smartphone brand dedicated to delivering an unparalleled gaming experience to users. With a focus on innovation, performance, and design, iQOO aims to redefine the gaming landscape and empower the gaming community. With a diverse range of cutting-edge smartphones, iQOO is committed to pushing the boundaries of mobile gaming and providing users with a truly immersive gaming experience.

MedLern Collaborates With Aster CMI Hospital, Bengaluru To Provide Comprehensive Resuscitation Training

MedLern, a leading digital learning solution provider for hospitals and healthcare professionals, has announced a strategic collaboration with Aster CMI Hospital, Bengaluru. This partnership aims to offer the Resuscitation Quality Improvement (RQI) Program from the American Heart Association (AHA) to the hospital staff, enhancing their life-saving skills and patient care capabilities.

The RQI Program will enable the healthcare workforce at Aster CMI Hospital to achieve certifications in Basic Life Support (BLS), Advanced Cardiovascular Life Support (ACLS), and Pediatric Advanced Life Support (PALS). These certifications are crucial for improving the readiness and effectiveness of hospital staff in critical care and emergencies.

Commenting on the development, Dr. Nitish Shetty, Aster Hospital India CEO said, “We are excited to collaborate with MedLern to bring the RQI Program to our hospital staff. This comprehensive training program, with certifications in Basic Life Support, Advanced Cardiovascular Life Support, and Pediatric Advanced Life Support, is expected to significantly enhance our team's preparedness and effectiveness in critical care scenarios. The newly inaugurated training space will provide a dedicated environment for our healthcare professionals to engage in personalized and flexible learning, ultimately improving patient outcomes and setting new standards in emergency response at Aster CMI Hospital.”

“Well-trained healthcare staff with certifications in Basic Life Support and Advanced Cardiovascular Life Support can make a significant difference in a hospital’s ability to successfully manage critical care and emergency scenarios. This program not only saves time but also proves to be cost-effective. Our training model offers truly personalized learning to the hospital staff,” said Deepak Sharma, Co-Founder and CEO, MedLern.

A separate space for providing resuscitation training was inaugurated at Aster CMI in the presence of SGS Lakshmanan, Chief Operating Officer, Aster CMI Hospital, Shailesh Shetty Shibaroor, Sr. Consultant & HOD, Emergency Department, Aster CMI Hospital and the hospital staff.

MedLern unveiled this innovative resuscitation training platform in 2022, which is unique in that it does not require instructor oversight. The program, certified by the AHA, provides flexible, personalized, and self-paced CPR training for healthcare professionals. The HeartCode Complete training program, co-developed by the American Heart Association (AHA) and Laerdal Medical, integrates cognitive eLearning and practical psychomotor skills training in BLS, ACLS, and PALS.

In a pioneering initiative for life-saving CPR training in India, Laerdal Medical, in collaboration with MedLern, is offering the AHA-certified HeartCode Complete CPR training for hospital staff and healthcare professionals at its training academy in Bengaluru. This initiative marks the first of its kind in the country, setting a new standard for resuscitation training.

The HeartCode Complete training program provides comprehensive cognitive and practical training in BLS, ACLS, and PALS, equipping healthcare professionals with the necessary skills to respond effectively in emergencies. This partnership between MedLern, AHA, and Laerdal Medical brings a world-class training program to India, ensuring that healthcare professionals are well-prepared to save lives.

MedLern is a digital learning platform that serves over 350 hospitals and more than 100,000 healthcare professionals. Through its partnership with AHA and Laerdal Medical, MedLern is committed to providing HeartCode Complete resuscitation training across India, thereby enhancing the overall quality of healthcare services.

Rodic Consultants Reaffirms Commitment To Youth Empowerment With Strategic Skill Development Initiative On World Youth Day

On the occasion of World Youth Day, Rodic Consultants, a leading engineering and digital infrastructure consulting company, reaffirms its commitment to fostering the next generation of leaders, a strategic initiative aimed at upgrading the skills of youth over the next five years. The company has introduced a series of targeted training programmes, partnership with educational institutions, and internship opportunities aimed at enhancing the employability of young professionals in the infrastructure engineering consulting sector.

Emphasising the company’s vision, Ajay Srivastava, Chief Human Resources Officer, Rodic Consultants, said, "Our skill development programme is centred around cultivating an entrepreneurial mindset, risk-taking ability, and agility. We wish to create a young and sustainable organisation with a strong focus on tech literacy and an appetite for growth to push the bar upwards. We aim to align our employees' potential with their career progression to create a strong culture of accountability and ownership. As we look to the future, Rodic Consultants remains dedicated to nurturing and empowering the next generation of leaders, ensuring that they are well-prepared to drive the organisation forward.”

Srivastava further highlighted the importance of talent retention as a cornerstone of Rodic Consultants' organisational strategy. “We recognise that young professionals seek regular and meaningful interactions with their managers, not just for performance assessments but also for constructive feedback that helps them sharpen their skills. To address this, we have implemented a regular connect programme that provides young talent with meaningful assignments and opportunities for professional growth. This approach is key to ensuring longer retention and building a sustainable organisation.”

Rodic Consultants, in its endeavour to build a future-ready organisation, also plans to engage and upskill a significant number of young professionals, ensuring they are equipped to take on first-level people management roles within 2-3 years. Additionally, the company is committed to recruiting 10-15% of new professionals annually, with a focus on individuals under 28 years of age to inject fresh perspectives and complementary skillsets into the company’s talent pool, fostering a culture that values innovation and growth.

Blue Dart Marks Independence Day With Direct Reach To Over 300 Pin Codes

* Strengthening Nationwide Ground Network for Enhanced Connectivity

Blue Dart, South Asia's leading express air and integrated transportation and distribution company, has expanded its direct reach to over 300 pin codes to commemorate India's 78th Independence Day, themed “Viksit Bharat”. This expansion represents a significant increase in the company’s direct coverage capabilities. By leveraging Blue Dart’s connectivity to these additional pin codes, businesses can enhance their supply efficiency through faster, safer, and more cost-effective movements. Customers will benefit from improved transit times, reliability, and access to a broader network.

On this development, Balfour Manuel, Managing Director, Blue Dart, said, "By expanding our direct reach to more pin codes, we enhance accessibility and empower SMEs and MSMEs to connect and expand their business to both domestic and international markets. This aligns with the spirit of India's 78th Independence Day theme and highlights our commitment to growth, operational excellence, and a customer-centric approach as our key market differentiator."

Blue Dart offers an extensive service network of secure and reliable express delivery services, covering over 56,000 locations nationwide. This expanded direct reach reinforces Blue Dart’s commitment to customer satisfaction by connecting to more geographies directly and facilitating business growth. The company’s robust infrastructure includes a fleet of 8 Boeing aircraft, over 33,000 on-ground vehicles including 480+ E-vehicles, and 2,253 facilities nationwide, guaranteeing swift and secure deliveries. Blue Dart, as part of the DHL Group’s DHL eCommerce Solutions division, leverages the world's largest express and ground network to extend its reach to over 220 countries and territories globally.

Blue Dart’s comprehensive service offerings empower SMEs and MSMEs by providing the essential logistics support needed to expand their services and direct reach even the most remote areas. By enhancing the operational capabilities of small and medium-sized enterprises, Blue Dart enables them to thrive in competitive markets. The company plays a crucial role in facilitating business operations across various sectors, including E-commerce, Pharmaceuticals & Medical Devices, BFSI, Consumer Electronics, and Automotive, among others.

Celebrated Indian Filmmaker Karan Johar Joins Fashion Entrepreneur Fund As An Investor And Promoter

The Fashion Entrepreneur Fund (FEF), India's first venture studio dedicated to the fashion sector, has joined hands with Mr. Karan Johar, an Indian filmmaker and fashion icon, as an investor and promoter. 

FEF, an initiative by the FEF India Fashion Awards, aims to nurture a collaborative ecosystem within the fashion industry. After Bollywood Actor Mr. Akshay Kumar, Indian business magnate Mr. Ravi Jaipuria and prominent business leader, Mr. Gaurav Dalmia joined FEF, Mr. Johar is set to enhance support for emerging fashion entrepreneurs, leveraging his extensive experience, expertise, and network to guide startups and budding entrepreneurs toward achieving their goals.

Mr. Johar shares a vision of transforming the fashion industry by addressing the challenges faced by millions of professionals in the sector. He identified a critical gap in the support system for fashion entrepreneurs and saw FEF as the solution. FEF is designed to provide comprehensive support, from focused mentorship to financial resources, addressing the industry's lack of infrastructure and opportunities for growth. Using Mr. Johar's creative influence, FEF aims to create a vibrant network where fashion businesses can flourish, innovate, and compete on a larger level. 

Mr. Johar shared the potential growth opportunities this collaboration can bring, “Fashion is an integral part of our culture and identity. It is an ever-evolving industry, and I am excited to embark on this journey with FEF. The growing popularity of homegrown ventures showcases the incredible talent within India and highlights a shift towards embracing our unique style. My objective is to bring glamour and trends to the forefront, supporting these brands as they captivate audiences globally. Through this initiative, we will help fashion entrepreneurs set new trends and achieve unprecedented success,” he adds. 

Mr. Vagish Pathak, Chairman, and Mr. Sanjay Nigam, Founder of Fashion Entrepreneur Fund, warmly welcomed the distinguished pioneer, saying, “Having Mr. Karan Johar join FEF is a tremendous boost for us. Our mission is to create a vibrant ecosystem where fashion dreams can flourish into successful enterprises. With Mr. Johar joining us, we are poised to accelerate this mission and reach new heights. Mr. Johar’s passion for innovation aligns perfectly with our goals and his experience and extensive networks will be invaluable in reaching out to fashion brands and entrepreneurs. With his support, we are confident that FEF will become the go-to platform for fashion entrepreneurs in India, providing them with the investment, resources, and mentorship they need to succeed.” 

About the Fashion Entrepreneur Fund (FEF): 

Fashion Entrepreneur Fund (FEF), a groundbreaking initiative, fosters a collaborative ecosystem within the fashion industry. FEF is investing an initial amount of ?20 crore to empower individuals in the fashion sector, helping turn their aspirations into thriving enterprises. This pioneering venture aims to cultivate innovation and entrepreneurship, providing essential resources and mentorship to budding talents. By bridging gaps and offering support, FEF propels the growth and success of emerging businesses, enriching the fabric of the fashion landscape. With its robust foundation and visionary approach, FEF sets the stage for transformative change and sustainable growth in the industry.   

Website Link - https://www.thefef.net/

Instagram - https://www.instagram.com/fashion_entrepreneur_fund?igsh=MXByNzR3Zmxzenl1Mw==

NIMS Hyderabad Completes 300 Robotic-Assisted Surgeries Within One Year

*        Becomes one of the fastest among govt. hospitals to achieve this milestone

*         Introduction of robotic-assisted surgery (RAS) has significantly reduced the waiting period for surgeries at NIMS Hyderabad

*        The Director of NIMS thanked the state government for their unwavering support in achieving this milestone

Nizam’s institute of medical sciences (NIMS), a leading government hospital located in Hyderabad, announced that they have completed 300 robotic-assisted surgeries (RAS) within one year of installing one of the advanced surgical robots, Da Vinci. These surgeries include many complex procedures under the departments of Urology, Gastro intestinal surgery and Surgical oncology. Through this, they have become one of the fastest among the government hospitals in India to achieve this milestone.

Commenting on this achievement, Dr. Bheerappa Nagari, Director- NIMS Hyderabad, said “Robotics in surgery is one such emergent technology that is creating waves worldwide and now in India, improving clinical outcomes. Our goal is to provide the best course of treatment to everyone who visits our hospital. With the advent of cutting-edge technology being available in India, it is imperative to make the benefits of those available to all sections of the patient community. We are thankful to the Chief Minister of Telengana, Mr. Revanth Reddy, and Minister for Health, Medical & Family Welfare, Science and Technology, Mr. Damodar Rajanarasimha for their unwavering support in helping us provide this advanced treatment option to people from all strata of our society.”

“As the technology has helped us to reduce the post-operative hospital stay, doctors are able to attend more cases every day. This has also resulted in reduced waiting periods for surgeries, from months to few days. The departments are now getting patients who prefer to undergo robotic-assisted surgery as the word of mouth of operated patients has helped us spread awareness about the benefits of RAS,” Dr. Nagari Bheerappa added.

Dr. Rahul Devraj, Professor and Head, Department of Urology and Coordinator for Robotic Surgery, NIMS-Hyderabad said, “The government support for this modern surgical technique is a significant step in making this novel technology available to all sections of the society. Robotic-assisted surgery, in my perspective, represents a pivotal advancement in the surgical field. I am proud that we are offering such technology-led services here at NIMS. Using this state-of-the-art technology, we can address the complex anatomy and tumour involvement judiciously. In terms of technical feasibility, safety, and long-term oncological and other clinical outcomes, we found this approach as a viable alternative to traditional techniques. We have also observed that the patients who have undergone robotic-assisted surgeries have minimum pain, and this has reduced their post-operative follow-up. The patients have also given very good feedback and have thanked the surgeons for providing them with great results post complex surgeries.”

Commenting on their collaboration with NIMS, Ms. Darla Hutton, Interim GM- India and VP Commercial Operations – APAC of Intuitive, the makers of da Vinci RAS technology, said, “The integration of the da Vinci surgical system at the Nizam's Institute of Medical Sciences represents a significant step in promoting the use of robotic-assisted surgical technologies among practicing and upcoming surgeons. We are happy to learn that through the adoption of RAS, NIMS hospital is able to make this technology accessible to all strata of the society, and it has led to reduced waiting periods for surgeries in a busy government hospital like NIMS. Alongside, our collaboration with esteemed academic institutions like NIMS provides students and professionals with access to cutting-edge technology, enhancing their education and hands-on training. This access ensures that the next generation of surgeons is well-equipped with the latest technological skills, fostering innovation and excellence in surgical practices.”

Robotic-assisted surgery is a minimally invasive procedure that helps patients return to their everyday life much faster, in many surgical procedures. Surgeons use the da Vinci Surgical System to operate through a few small incisions. The system includes a magnified 3D high-definition vision system and tiny wristed instruments that bend and rotate much more than the human hand. As a result, surgeons have better vision, precision, and control. Other benefits include decreased pain, fewer post-operative wound infections, less post-operative scarring, and faster recovery. Reducing the chance of infection makes it an ideal procedure, especially for people with co-morbidities.

Some of the robotic-assisted procedures performed at NIMS are prostate cancer surgeries, partial nephrectomy, radical nephrectomy, radical cystectomy, pyeloplasty, ureteral reimplantation, radical cholecystectomy, large defect ventral hernias, Inguinal hernia, fundoplication, pancreatectomy, whipple procedure, gastrectomy, colorectal surgeries, radical hysterectomy, benign hysterectomy, LAR, hemicolectomy, esophagectomy etc.