HENCY R SHAH AND ASSOCIATES

  ChatGPT hits 100 million users, makes history as fastest - growing platform   OpenAI's ChatGPT is popular, we all know that. But AI has even broken world records in popularity. ChatGPT has reportedly reached unprecedented levels of success just two months after its launch. A recent study by UBS claims that the chatbot has gained 100 million monthly active users, making it the fastest-growing consumer application in history. ChatGPT is only a few months old and already causing waves in the business world. The Microsoft-backed chatbot's ability to generate articles, essays, scripts, and poetry has made it a hit among users, who can access the application for free. To further sustain its growth and offer a more stable and faster service, OpenAI recently introduced a premium subscription.   What is ChatGPT? ChatGPT is an easy-to-use artificial intelligence tool that answers questions posed by users with relevant, natural-sounding answers and topics. The AI cha...

RBI puts on hold NUE licensing RBI is said to have put on hold licensing of the New Umbrella Entity (NUE) network, a fintech institution planned as a rival to the National Payments Corporation of India (NPCI). Six Groupings, which included Facebook, Google, Amazon, Flipkart, and others, had applied for NUE licenses. RBI will not grant permission to any of the six consortiums to commence business as all of them have fallen short of the RBI's expectations. It looks like none of the applicants have proposed anything novel or a great technology breakthrough that would have made RBI look over it, almost all of the plans were similar to that of the NPCI, which did not enthuse the RBI. NPCI, established by the RBI and banks, runs the Unified Payments Interface (UPI) and other payment systems. NUEs were supposed to set up and operate a new retail digital payment system and manage clearing and settlement systems that could be an alternative to the bank-promoted NPCI. The applica...

Companies Restructure, Cut 3,00,000+ Jobs In 2022: Will 2023 Bring Stability?   We are at the business end of the year 2022, which has hardly been a smooth ride for the Corporate Job ecosystem. The year 2022 marked the end of Covid-19 restrictions and the resumption of most economic activity. However, be it recession, inflation, employment crisis, or economic downfall, the ghosts of the pandemic can still be seen in various forms. Adding up to the crisis were job cuts that turned out to be one of the biggest crises that hit the world on the sidelines of the 2019 global health emergency. Be it cost-cutting, performance-linked layoffs, restructuring purposes, or something else, we saw lakhs of job cuts this year. Worst of all, the economic downhill ride that began nearly three years ago has still not been curtailed. Amazon and Meta, two of the biggest tech behemoths, kicked out several thousand employees in 2022. Besides them, nearly other 600+ enterprises laid off more than 3,0...