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Adoption of Metaverse increases
The metaverse is a fast-growing trend with a considerate penetration rate of users for various applications such as gaming, content creation, social interaction, learning & training, and online virtual shopping.
Major factors expected to drive the revenue growth include a growing focus on integrating digital and physical worlds using the Internet, increasing momentum and popularity of Mixed Reality, Augmented Reality, and Virtual Reality.
Today, several e-commerce players are adopting digital world services to showcase the products in the virtual world to gain real-world experience. There are leading players in the metaverse industry who are investing heavily into these areas. Going forward, 5G will effectively support the Metaverse and make it possible for digital words to function.
The growth is complementing the surge in online video gaming adoption and rising consumers preference for online shopping of retail products. A report says, the global gaming audience for e-sports is projected to reach 646 million by 2023. Such an increase in the gaming audiences has created a massive demand for the services market.
American multinational investment bank Goldman Sachs, calls metaverse a $8 trillion global opportunity by 2025 with India's own Metaverse-non-fungible technology economy—already worth an estimated $50-100 million annually— and is expected to touch $100 billion by 2025.
The report said that globally brands are already spending 2-5% of their digital budgets on NFTs (the most successful element of metaverse till date), and that could touch 30-40% in the next five years.
Notably, companies, especially those in non-tech sectors, are now increasingly investing in the technology for better engagement with customers, brand awareness expansion, and identification of new revenue streams.
Today's Headline in NewsHours
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2:17 After Outlook faces outage, Microsoft finds baBy VARINDIA| 15 views
AWS vs Azure vs Google Cloud
In fact, the three cloud giants now combine for approximately 65% of the total worldwide cloud infrastructure services market, which reached $54.7 billion in the second quarter of 2022. When we see the unique differentiation and the Go-To-Market strategy of these three biggies, Google Cloud was able to grow its revenue to $6.2 billion in Q2 2022 from $4.6 billion in Q2 2021. Google Cloud revenue grew 35.6% Year-Over-Year, the slowest pace of growth in at least 17 quarters. It fell short of analyst predictions for the quarter. Google Cloud is one of the tech giant's primary business segments, the other being #GoogleServices.
One of the biggest things setting #GoogleCloud hosting apart from other players is their global network. It's easily one of the biggest in the world, rivaling the global infrastructure of both Microsoft and Amazon.
Whereas, #Azure has more data centers and delivery points than most other cloud services. This allows Azure to deliver content faster and provide an optimal user experience. AWS is Amazon’s cloud infrastructure and platform services business, which includes more than 200 products and services from data centers globally. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies are using AWS to lower costs, become more agile, and innovate faster.
#AWS has the largest and most dynamic community, with millions of active customers and tens of thousands of partners globally. In the first quarter of 2022, the cloud services arm of Amazon reported revenue growth of 37%, posting revenue of $18.44 billion.
At the same time, Microsoft Azure has used large-scale virtualization at Microsoft data centers worldwide while offering up to 600 different services. It is a pioneering leader for Infrastructure as a Service and has led to significant growth. Azure revenue growth percentage as well as sales figures for a segment dubbed Microsoft’s IntelligeBy VARINDIA| 33 views
Cloud- the next tech imperative
Tech pundits feel that we have taken vaccination during the pandemic to save from the life threatening COVID-19, like that, the pandemic has provided a poignant reminder of the power of #cloudtechnology.
When COVID-19 hit suddenly and unexpectedly, systems resilience, agility, adaptability, and scalability were the fundamental capabilities needed by governments, businesses, and other organizations to navigate the crisis.
Certain segments needed to scale immediately to meet explosions in demand, like telemedicine, videoconferencing, and eCommerce, while others struggled to right-size their businesses faced with near-overnight elimination of demand, like live events & entertainment, travel, and ridesharing. As the pandemic is getting over, a new technology is getting ready to replace much hyped cloud since the adoption of cloud is an expensive affair.
The advancement in technology and the evolving global economy saw enterprises looking to improve their business efficiency, elasticity, and innovation.
During these 30 months of journey, we have witnessed the growth of all cloud platforms such as #AWS, Azure, #Google, Zoom and others are continuing to invest aggressively in capacity and innovation as they jockey for market share and work to accelerate their clients’ digital transformations. While most cloud platforms will likely see revenues grow, there is a race to land large enterprise IT and data estates due to the long-term challenges and costs associated with migration.
According to an IDC report, the cloud-as-a-service market is expected to grow at a CAGR of 159.7 percent (2019-2024), reaching up to $24.6 billion by 2024. Now the cloud owned companies are suggesting the enterprises to go for deploying more multi-cloud arrangements, with this the IT budgets are increasingly going to cloud giants.
According to a recent survey from Flexera on IT budgets for 2021, money is flowing toward Microsoft Azure and itsBy VARINDIA| 22 views
Increasing Concerns On Cloud Services Are Under Attack | Cyber Attack | VARINDIA News Hour
Increasing Concerns On Cloud Services Are Under Attack | Cyber Attack | VARINDIA News Hour
With the new hybrid-working model we see organizations increasingly moving more of their workload settings to the cloud. While this transformation offers great agility and scalability benefits, it comes with inherent and increased risks to security and compliance. A simple configuration error can result in your entire organization being exposed to threat actors who no longer need to break into your data center to access your critical data or conduct ransomware attacks. As per Gartner by 2025, 99% of cloud security issues will be a result of human error when configuring assets and security in the cloud. At a time when organizations are becoming increasingly dependent on third-party cloud vendors such as AWS, Microsoft Azure, IBM and Google Cloud Platform to securely manage their data, concerns around misconfigurations and other vulnerabilities in the cloud are likely to amplify quickly. What’s more, many of the organizations finding themselves at risk have had to accelerate their digital transformation initiatives at an uncomfortable pace over the past two years, resulting in knowledge and talent gaps that only add to their fears around cloud security.
Under the shared responsibility model - a security framework designed to ensure accountability for compromised data and other incidents - the cloud provider will offer basic cloud security, but it's up to businesses themselves to secure their own data within the cloud. To put it in another way, if cloud providers ensure the town gates are locked and the perimeter is well guarded, it’s still up to businesses to ensure their own doors are locked. That’s no mean feat, particularly when you consider that many large enterprises now rely on three or four cloud platforms as part of a multi-cloud strategy. Attacks on cloud service providers are ramping up. As outlined in Check Point 2022 Security Report, the previoBy VARINDIA| 28 views
Web 3.0 a $1.1 trillion growth opportunity for India
#GeneralBipinRawat #Madhulika #Visa
Digital assets are expected to have tremendous potential
‘Web 3.0′ envisions a decentralised future where users and machines are able to interact with data via smart, digital contracts over peer-to-peer networks, without the need for Big Tech. Digital assets like Bitcoin, Ether, Solana, etc are the fuel of the future financial ecosystem and Web 3.0. According to the report by crypto and digital asset exchange CrossTower in partnership with US-India Strategic Partnership Forum, the digital asset economy’s value to India’s GDP will grow at 43.1% CAGR— from $5.1 billion in 2021 to $261.8 billion over an 11-year period, resulting in a $1.1 trillion contribution to India’s GDP. Digital asset market capitalisation was nearly $1.5 billion in 2013, and stands at about $3 trillion today. As per the reports, most of $1.1 trillion in the total economic growth in the next 11 years can come from ancillary digital asset-related businesses that are yet to be invented. India is poised for growth to become a $5 trillion economy by 2024-25. Digital assets are expected to have tremendous potential in the next 11 years across countries, due to their rapid adoption. They are expected to help India achieve the $5 trillion economy goal.
According to the findings, the adoption rate of digital assets (as reflected by accounts opened on centralised cryptocurrency exchanges) is growing nearly twice as fast as that of the Internet. It took the Internet approximately 7.5 years to go from around 100 million users to one billion users. The same growth at cryptocurrency exchanges will take about four years. From digital art to ticket sales, music, collectables, luxury items and gaming, non-fungible tokens could transform the way people interact day-to-day. While still nascent, NFTs are projected to emerge into a market of $1 trillion or more,” the report mentioned. With the right policies and regulatory framework, IndiBy VARINDIA| 19 views
Blockchain platforms to witness solving major issues into taxations
#Blockchain #Birla #VodafoneIdea
Blockchain solving taxation issues
With the recent introduction of TaxGrid - a global tax withholding solution that leverages blockchain technology to automate, decentralize and securely share tax and financial information while maintaining data privacy between financial institutions and government agencies. EY has started this in the early 2020 when the pandemic hits the globe, EY used a permissioned Ethereum network across multiple cloud providers including AWS, Azure and IBM Cloud to build Tax Grid. EY hosted some nodes on behalf of some partners while other participants hosted their own nodes. The same software ran across all nodes. TaxGrid has the potential to replace a manual and paper-based tax refund process that costs investors’ money and creates fraud headaches for tax collectors. It uses fungible and non-fungible tokens to track dividend income. This makes it easier for tax agencies to apply the appropriate tax rate to transactions.
The shared ledger carries the information in real-time as to who owned the stock at the time of sale, the type of entity, the country of location and the appropriate tax rate. It's the first time that we know that an application like this involving multiple government and financial institutions was built using zero-knowledge proof. It also provides a complete and detailed picture of a transaction for tax agencies while protecting individual investor privacy and confidentiality. An expert claims, without the zero-knowledge proof, everyone would be able to see all the information from the transaction. With the zero-knowledge proof, everyone can have the cryptographic assurance that whatever transaction they were relying on was done correctly. TaxGrid is a new solution to the familiar problem of withholding tax rates on dividend income from global investments.
Today's Headline in NewsHours
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2:07 #Birla is ready to give #VodafoneIdeaBy VARINDIA| 30 views
It is time to refresh the digital strategy for the 'NEW NORMAL'
#PMModi #eRUPI #EducationMinister
Digital Strategy for New Normal
Well before COVID-19, online shopping and home delivery had become a normal part of everyday life for many people around the world. However, the current climate has seen a massive surge in the use of delivery and subscription services by the e-commerce players. However, digital-only banks are being looked upon as a blueprint for how to best operate as a financial services firm during uncertain times. With reduced in-person support, the existing digital customers are using their banking apps more often during the crisis. We are confident this trend will continue and grow post-coronavirus due to its conveniences, whereas security and vulnerability remains a big question mark. The COVID-19 lockdown has impacted those within the banking industry in several different ways, presenting both challenges and opportunities. We are entering a time when a strong digital strategy is becoming a necessity rather than a luxury – welcome to the new normal.
The first phase is a tactical response, where banks take immediate actions to support their employees and customers in an operational shift. This phase will see banks enable their workforce to operate remotely and see a rapid move toward digital channels. During this period banks will see a surge of calls into their call centers and will need to ensure that these calls can be answered, with vulnerable clients being prioritized. Working on having a flexible workforce will help keep jobs, provide better customer service, and encourage their clients to continue banking and being active. The second phase focuses on the end-user, high-priority focus items. For instance, banks will need to review their customer journeys and ensure they are enabled to support digital channels, and how they can best support their customers, such as virtual help desks. The third and final phase is adopting a strategic focus, where banks will neBy VARINDIA| 71 views
Top tech companies show impressive growth
#RBI #AxisBank #Navy
Top tech companies show impressive growth
Top Wall Street analysts expect strong earnings results from the stocks of tech giants. Apple, Microsoft and Alphabet each reported impressively robust earnings results for the June quarter, demonstrating that these giant companies continue to go from strength to strength even as they face greater regulatory scrutiny. If there is any downside for the companies and their shareholders, it’s that the results will only concentrate critics’ minds about their sheer financial strength. A report shows Microsoft delivered its strongest revenue growth since 2008. Alphabet not only reported stunning revenue growth of 62%, it also kept expenses under control so well that its operating profit margin hit 31%, several percentage points above what Alphabet typically reports. Apple posted a 36% top line increase. Every part of its business expanded.
Apple aside, much of big tech’s surge is being driven by advertising. That was most obviously true at Alphabet—where its YouTube video ad revenue grew 84%—but even Microsoft benefited. The software giant posted 97% growth in its LinkedIn Marketing Solutions group and a stunning 53% jump in search advertising. That’s three times the March quarter growth in the search business. Alphabet’s operating profit margin nearly doubled to 31% from a year earlier, and up slightly from the first quarter. Since 2014, on an annual basis, the operating margin has ranged between 20% and 26%. The improvement was a result of Alphabet keeping a very tight lid on costs. But some of that might be related to a Covid-related slowdown in the costs of real estate expansion that may now be ending. At the same time, Azure, arguably now Microsoft’s most important business, in previous quarters has been reliably posting revenue growth of around 50%. Whereas, Microsoft’s free cash flow of $16.3 billion was about the same as Alphabet’s and just a little below AppBy VARINDIA| 24 views
Digital Economy of India to touch $800 billion by 2030
#DigitalEconomy #WhatsApp #SupremeCourt
Digital Economy to touch $800 billion
India’s consumer digital economy which was pegged at $85-90 billion in CY 20, is expected to become a $800 billion market by 2030. The digital economy includes 60% of travel, 40% of non-grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30, as per the data of RedSeer. With this growth we could forecast the next wave of entrepreneurs will create innovations which will make the Indian model successful globally. During these difficult times, most of the enterprises faced the challenge that their current levels of cybersecurity are not enough to protect their endpoints and servers.
The year 2020 has started with COVID-19 and a pell-mell shift to remote work, and finished with the gut-punch of a major breach that put hundreds of organizations into frantic access-and-remediate mode. The consequences of the pandemic’s rapid shift to work-from-home — and the exponential adoption to cloud technology that it helped drive — include lesser visibility into the security ecosystem, lesser control of access points, and a larger, more varied attack surface for adversaries to target. Over the course of the pandemic, there has been an escalating number of cyberattacks designed to exploit vulnerable remote workers and people who are desperate for information about the virus and vaccine. About 52% of Indian organizations fell victim to a successful cybersecurity attack in the last 12 months. Of these successful breaches, 71% of organizations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate.
Today's Headline in NewsHours
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2:05 #WhatsApp #messages have no evidential value says, #SupremeCourt
2:55 We want to be the best partner for our partners, says #SatyaNadella at #Inspire2021
3:49By VARINDIA| 16 views
CYBER DEFENSES ARE THE REAL DEFENSE IN THE COMPLEX TECH WAR OF ATTRITION
#Microsoft #cyberattacks #ransomware
Cyber Defenses against Tech War
2021 has already broken records for cyberattacks, with an all-time high of 93% increase of ransomware and over 70% in all cyberattacks in the US in just 12 months. Offenses have reached a record of ransomware victims, with an unknown scope of attacks mostly in the US, and some victims in Europe as well. The ransomware attack, apparently conducted by the Russian speaking group REvil, represents a catastrophic combination of 2021’s most notorious cyberattack trends, supply chain attacks and ransomware. As many as 1,500 businesses around the world have been affected by the biggest ransomware attack to be recorded in history, the chief executive of American IT firm Kaseya has said.
Software has become a weapon and the data the prisoners of war. The hackers have demanded $70 million to restore all the affected businesses' data. Among the businesses affected are supermarkets in Sweden, IT companies in Germany and the Netherlands, and schools and kindergartens in New Zealand were knocked offline. The hackers have used the VSA software developed by Kaseya which helps companies remotely monitor their computer systems. The company said it sent a detection tool to nearly 900 customers. Ransomware criminals break into networks and sow malware that cripples networks on activation by scrambling all their data. Victims get a decoder key when they pay up. Sources said, REvil level examines the financial records of the victim – insurance claims if they can find them – before they encrypt the data. They threaten to dump the stolen data online, unless paid, which has become another source of income and a nightmare for the victim.
Today's Headline in NewsHours
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2:03 #Microsoft recommends #Azure Users to Update PowerShell to Patch RCE Flaw
2:57 #GST collection comes low for first time after 8 months
3:59 #Blackstone to buy SpheraBy VARINDIA| 25 views
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India observes Independence Day with patriotic fervour
Prime Minister Narendra Modi
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BJP MLA Ganpat Gaikwad ने Eknath Shinde Shiv Sena Leader Mahesh Gaikwad को थाने के अंदर मारी गोलियां
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BJP MLA Ganpat Gaikwad ने Eknath Shinde Shiv Sena Leader Mahesh Gaikwad को थाने के अंदर मारी गोलियांBy PunjabKesari TV| 36 views
Bigg Boss 17 WKW Update | Karan Kundra Ki Hogi Entry, Salman Ke Samne Dikhenge
Bigg Boss 17 WKW Update | Karan Kundra Ki Hogi Entry, Salman Ke Samne Dikhenge
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Blatant Violation of model code of conduct in Odisha
Blatant Violation of model code of conduct in Odisha
Watch Blatant Violation of model code of conduct in Odisha With HD QualityBy Dharmendra Pradhan| 818231 views
Robotic Process Automation is transforming businesses across the world
Robotic Process Automation enables users to create software robots, or #Bots, that can observe, mimic & execute repetitive, time consuming #Digital #business processes by studying human actions.
Watch the video to know how RPA is transforming #businesses.
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Robotic Process Automation is transforming businesses across the worldBy CII| 207622 views
