Entrepreneurs of Japanese, South Korean, and Indian origins have come together to lay the foundation stone of the Asian Entrepreneurs Club (AEC), a platform dedicated to fostering entrepreneurship and supporting the growth of small businesses in India. The club has outlined its core objectives, which seek to provide entrepreneurs with a platform to share ideas, resources, and opportunities from across Asia. Additionally, the club aims to organize workshops, training sessions, and events to develop entrepreneurial skills.
T-Mobile US Inc. has released a beta version of billionaire Elon Musk's Starlink satellite internet for testing purposes, completely free in the US till July this year. As a result, over 500,000 square miles of the US, the size equivalent of two Texas, earlier not reachable by cell towers, will now get connectivity. At the moment, only text messages will be possible to send. Other features such as picture messages, data, and voice calls will come later.
The Asian Indian Chamber of Commerce (AICC) launched the India Supplier Diversity Program (ISDP) to integrate Indian MSMEs, including women-owned and disadvantaged businesses, into global supply chains. Backed by global corporations like Sanofi and Johnson & Johnson, ISDP offers certification, mentorship, and B2B matchmaking, bridging MSMEs with international markets and fostering inclusive economic growth in India.
President Donald Trump has temporarily paused tariffs on small-value packages from China to allow federal agencies time to implement systems for processing millions of daily shipments. The policy, affecting packages previously exempt under the "de minimis" rule, seeks to address tariff evasion and the influx of counterfeit and unsafe goods. Critics warn of potential delivery delays and higher prices, while supporters argue it levels the playing field for U.S. businesses.
French AI company Mistral aims for full control over data infrastructure, aligning with France’s vision as a data hub. CEO Arthur Mensch announced this ahead of the AI summit in Paris. Supported by President Macron and contracts with government agencies, Mistral recently launched its AI assistant, Le Chat, and plans an IPO. Expansion includes a new Singapore office and global operations growth.
AI is reshaping social media, with 5.24 billion users globally and rising brand discovery. Digital ad spend hit $790 billion in 2024, with social media ads up 15%. ChatGPT led AI adoption, averaging 250M monthly users. Instagram tops brand research, while TikTok dominates user engagement. Influencer marketing grew 14%. Brands must navigate cultural nuances to drive engagement and ROI.
Commissioner Zachary Rich announced Economic Injury Disaster Loans (EIDLs) for local small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and private nonprofit organizations through the U.S. Small Business Administration (SBA) for those who experienced economic losses due to drought and excessive heat since June 25 2024. Eligibility is based on the size of the applicant, type of activity, and its financial resources.
Elon Musk’s Department of Government Efficiency (DOGE) is developing GSAi, a custom AI chatbot for the US General Services Administration. GSAi aims to modernize operations by analyzing contracts, improving productivity for 12,000 employees, and enabling better data access. The project aligns with Trump’s "AI-first" agenda and focuses on centralizing procurement processes while minimizing errors through advanced AI tools.
On Monday, against the sumptuous backdrop of the city's 125-year-old Grand Palais, representatives from 80 countries, including world leaders, tech bosses, academics, and other experts, will gather for a two-day global summit to discuss current progress and future goals for the rapidly evolving, hugely disruptive technology that is artificial intelligence. Europe also spies an opportunity to make a new bid for the AI crown.
The fastest supercomputer in the world has officially launched at the Lawrence Livermore National Laboratory (LNNL) in California. The supercomputer, called "El Capitan," cost $600 million to build and will handle various sensitive and classified tasks, including securing the U.S. stockpile of nuclear weapons in the absence of underground testing. It can reach a peak performance of 2.746 exaFLOPS, making it the planet's third exascale computer.