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Mobikwik Raises Rs. 225 Crores From Bajaj Finance

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Nonbanking financial firm Bajaj Finance Ltd., will be investing $ 35. 2 million in the digital payments company MobiKwik to buy an 11% stake. Bajaj Finance made the announcement in a Bombay Stock Exchange filing stating they had entered into a subscription agreement with One MobiKwik Systems.

According to the filings, Bajaj Finance will be buying 10 equity shares and 271,050 compulsory convertible preference shares (CCPS.) The finance company will hold about 10.83% of the equity in MobiKwik on a fully diluted basis post the conversion of the CCPS shares.

The CEO of MobiKwik, Bipin Preet Singh, speaking about the association said, “ Our partnership with BFL will enable us to realise our vision of performing all the functions of (a) bank yet retain our core competency of being India’s leading e-wallet and we strongly believe that this combined value proposition will attract millions of new customers to choose wallet led mobile banking transactions.”

He also added Mobikwik will transform into a new age bank where their digital transactions will lead to lowering of lending rates and increased supply of money in the Indian economy. According to a statement released by MobiKwik, they will be able to launch India’s first debit and credit wallet through this strategic tie up with one of the largest nonbanks in India.

But, under the agreement, the conclusion of the transaction of the shares is subject to the fulfillment of certain conditions in due course. Bajaj Finance also added that the investment was intended to support existing line of businesses, develop front end applications for users availing financial services and create a one stop solution for all debit and credit spends. They have also entered into shareholders agreement which will become effective on the conclusion of the transaction.

Speaking about the investment, the Managing Director of Bajaj Finance, Rajeev Jain said, “We aim to combine the synergies of both the organizations – deep rooted customer analytics and extreme focus on digital-oriented eco-system will make this a disruptive proposition amongst our existing products.”

MobiKwik was founded in 2009 by Bipin Singh and Upasana Taku and has raised more than $ 85 million in investments till date. Earlier this year the company said they were looking to raise funds to compete against rival digital payment platforms like Paytm and FreeCharge. They also plan to expand to become a one stop solution for all financial solutions according to cofounder Upasana Taku.

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Gemini Assistant Enhances User Experience with New Integrations for WhatsApp and Spotify!

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Gemini, the virtual assistant integrated into Android as an alternative to Google Assistant, is reportedly enhancing its capabilities with new extensions for WhatsApp and Spotify. Initially designed to answer queries, generate text, and search the web, Gemini’s third-party app integration had been limited. However, recent developments indicate that Gemini will now support these popular apps through new extension features.

New Functionalities for Gemini

According to an Android Authority report, these new capabilities were discovered in the Google app’s Android beta version 15.40.31.29 by tipster Assemble Debug. Although the feature has not yet been rolled out to beta testers, it is anticipated that activating the extension will introduce a prompt card indicating that Google Assistant actions are being replaced with Gemini Extensions. To utilize these extensions, users will need to keep the Gemini app activity turned on.

WhatsApp Integration

Once activated, Gemini will learn the user’s preferred app for calling or texting specific contacts. It will automatically select this preferred app by default, although users can adjust their preferences and disable any extension from the activity menu. The tipster successfully activated the WhatsApp extension, allowing users to send text messages to designated contacts using voice commands, similar to Google Assistant.

When invoked, the Gemini assistant interface displays an app card that users can click to enter WhatsApp and review their messages. This extension also permits users to edit messages before sending them and initiate voice calls directly through WhatsApp.

Spotify Integration

In addition, the extension for Spotify reportedly works for both free and Premium users. Users can prompt Gemini to play a specific song on Spotify, and the assistant will automatically start playback. Similar to WhatsApp, a Spotify card appears after the command is executed, allowing users to tap it to access the selected song within the app.

Importance of Enhanced Integration

The introduction of these extensions marks a significant step forward for Gemini as it seeks to enhance user experience and streamline interactions with popular applications. By integrating with widely used platforms like WhatsApp and Spotify, Gemini aims to provide a more cohesive and efficient user experience.

Competitive Landscape

This move positions Gemini as a strong competitor in the virtual assistant space, particularly against established players like Amazon’s Alexa and Apple’s Siri. By enabling deeper integration with third-party apps, Google is actively working on expanding Gemini’s capabilities and personalization features.

Conclusion

The anticipated rollout of WhatsApp and Spotify extensions for Gemini represents a significant enhancement in functionality for Google’s virtual assistant. As it continues to evolve, Gemini aims to offer users a more personalized experience while streamlining communication and entertainment options directly through voice commands. This development not only reflects Google’s commitment to improving its AI offerings but also highlights the growing importance of seamless integration in today’s digital landscape.

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Google Photos May Soon Add AI Attribution to Combat Deepfakes!

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Google Photos is reportedly developing a new feature that would allow users to determine whether an image was generated or enhanced using artificial intelligence (AI). This functionality aims to provide transparency and help users identify AI-generated content, potentially reducing the spread of deepfakes and misinformation.

Introduction of AI Attribution

According to recent reports, Google Photos is working on adding ID resource tags that will reveal details about the AI origin of an image, along with the digital source type. However, it remains unclear how exactly this information will be displayed to users. The introduction of such a feature aligns with growing concerns over the proliferation of deepfakes—manipulated media that can mislead viewers and create false narratives.

Tackling Deepfakes

Deepfakes have become a significant issue, as they can be used to spread misinformation or create misleading media. A notable example includes actor Amitabh Bachchan, who filed a lawsuit against a company for running deepfake video ads featuring him without consent. This highlights the urgent need for tools that can help users verify the authenticity of digital content.

How Will This Work?

As per an Android Authority report, the upcoming feature in Google Photos could allow users to verify if an image was digitally generated using AI. While this feature has been found in the layout files of the Google Photos app (version 7.3), it is currently inactive. The app contains strings of XML code suggesting the addition of “ai_info” and “digital_source_type” tags in the metadata, which could help users identify whether an image was created or enhanced by AI tools like Gemini or Midjourney.

Potential Integration with EXIF Data

While details remain unclear, Google could embed this AI attribution information within the Exchangeable Image File Format (EXIF) data of images. However, this might require users to access metadata to view AI-related information, making it less visible. Alternatively, the app might display an on-image badge to clearly indicate that the image was AI-generated or enhanced, similar to how Meta labels manipulated content on platforms like Instagram.

Importance of User Awareness

This feature could prove crucial in increasing user awareness and protecting against the misuse of AI-generated content, especially in light of the rise of deepfakes. By providing clear attribution regarding the origins of images, Google aims to empower users with the information needed to discern genuine content from manipulated media.

Broader Context: Enhancements in User Experience

In addition to this potential feature, Google Photos is also rolling out other enhancements aimed at improving user experience. For instance, recent updates have introduced advanced editing tools powered by AI, allowing users to enhance their photos effortlessly.

Conclusion

The development of AI attribution in Google Photos represents a proactive approach to combating misinformation and enhancing user trust in digital content. As deepfakes become increasingly sophisticated and prevalent, features like these will be essential for maintaining transparency and integrity in online communications. By empowering users with tools to verify content authenticity, Google is taking significant steps toward fostering a safer digital environment.

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WhatsApp Brings Chat-Specific Themes to Android Beta, Mimicking Messenger Customization Features!

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WhatsApp has finally introduced chat-specific theming to its Android app, allowing for more in-depth customization options beyond the basic wallpaper changes previously available. This feature, already available on the beta version of WhatsApp for iOS, brings WhatsApp closer to the level of customization found in Facebook’s Messenger app, where chat-specific themes have been a long-time feature.

Key Features of Chat-Specific Theming

Currently in beta testing for Android, the feature allows users to select from 20 chat colors and 22 textured themes, each with preset colors for chat bubbles. This new level of personalization enables users to apply a different theme to each individual conversation, marking a significant improvement from the current generic theming options.

Enhanced Customization Options

Screenshots shared by WABetaInfo reveal a new theme selection interface distinct from the current design on Android. Users will be able to:

  • Choose from 20 different colors and 22 textured themes for their chats.
  • Set a default theme that applies across all conversations or customize individual chats.
  • Adjust settings for darkness levels between light and dark modes.
  • Select wallpaper colors independently of chat bubbles.

This flexibility allows users to create a unique visual experience tailored to their preferences.

Rollout and Availability

Although the feature is still in beta, it is expected to be rolled out for all users soon. Given its prior release on iOS, it’s likely that iOS users will receive the feature first in the stable version, with Android following thereafter. Currently, WhatsApp allows users to switch only between system default, light, and dark themes.

User Experience

Once available, users will find a new “Chat Theme” settings page where they can change the theme for individual chats. The app will automatically apply complementary chat colors when a new theme is selected, ensuring a cohesive appearance. Notably, these customizations will remain private and will not be visible to other participants in the conversation, allowing for personal expression without affecting others.

Broader Context: AI Integration

Meanwhile, Google is also advancing its AI integration on Android by testing its Gemini virtual assistant, which will soon allow users to send messages via voice commands. This addition aims to enhance communication convenience further.

Both these features mark significant improvements in customization and user experience on Android. The introduction of chat-specific themes not only aligns WhatsApp with competitors like Messenger but also reflects a growing trend among messaging apps to offer more personalized experiences.

Conclusion

The rollout of chat-specific theming on WhatsApp represents an exciting development for users seeking greater personalization in their messaging experience. With 20 color options and various textured themes, this feature aims to make conversations more engaging and visually appealing. As WhatsApp continues to evolve its platform with new features like AI integration, it is poised to enhance user satisfaction and maintain its position as a leading messaging app in an increasingly competitive landscape.

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