10 Exciting Developments in the Tech Industry

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The legal landscape recently shifted with the Section 1981 ruling impacting tech giants like Meta Platforms and Apple. Cases against biased hiring practices signal a push for fair employment. Conservative groups scrutinize diversity initiatives, while calls for federal investigations challenge companies like Tyson Foods. Upholding U.S. citizens' rights in employment remains a focal point in the evolving discourse.

Impact on Betting Market

The illegal betting market, already thriving in India, is expected to grow by 30% in the coming years, as per a new study. Inadequate legal frameworks, selective banning, and high taxation on legitimate online gaming platforms seem to be key factors contributing to this trend.

Industry Innovations

Zomato's move comes a week after rival Swiggy launched a new feature on its partner app to connect restaurants with staffing experts as part of a new recruitment support initiative.

Fast food restaurant sector market size US 2022

Gupshup's WhatsApp chatbot on ONDC streamlines buyer experience, supports enterprise integration, and expands to include food orders, location sharing, Google RCS, and voice integration. Operating globally, Gupshup aims to reach diverse populations through WhatsApp for seamless conversational commerce.

Customers can now use its editing tool on their smartphones to enhance images used in promotional materials, including emails, the Canada-based firm said at its biannual products event. The feature was previously restricted to only editing product images online.

Fast Food Market Size, Share, Trends, Growth Rate by 2030

Technological Advancements

Meta Platforms discussed integrating its generative AI model into Apple's AI system. AI startups Anthropic and Perplexity also in talks with Apple, as reported by the Wall Street Journal.

PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It onboarded popular apps and gaming majors, offering zero listing and platform fees.

Legal Developments

In a decision on Monday, US District Judge Casey Pitts in San Jose, California said Australia's second-richest person can try to prove that Meta's negligence in allowing the ads breached its duty to operate in a commercially reasonable manner.

Le Travenues Technology, the company behind the travel platform Ixigo, saw its shares listed on stock exchanges at a 48.5% premium to the IPO price. Cofounders Aloke Bajpai and Rajnish Kumar discussed the successful IPO and investor response with ET.

Social Media Updates

In an op-ed in the New York Times, Murthy wrote that a warning label alone will not make social media safe for young people but that it can increase awareness and change behavior as shown in evidence from tobacco studies. The U.S. Congress would need to pass legislation requiring such a warning label.

Meta Platforms postpones Meta AI launch in Europe due to Irish privacy regulator's request on user data from Facebook and Instagram.

Global Market Expansion

Amazon has agreed to acquire MX Player to expand its video streaming services portfolio in India's market. MX Player will complement Amazon's Prime Video and MiniTV services. The deal values MX Player at $50-100 million.

Legislative Actions

New York state lawmakers passed legislation to protect children online by restricting social media platforms from exposing 'addictive' content to users under 18 without parental consent.

The company aims to upgrade its 400-odd customers to its generative AI platform SAS Viya over the next one year, Riad Gydien, executive VP and chief sales officer at SAS, told ET.

Industry Compliance

Several products in the Blinkit warehouse were found to have expired and were seized, Telangana's Commissioner of Food Safety said on Thursday. The raid found that cosmetic products were stored with food items and that the licence of Congruence Trade and Services Pvt Ltd – one of the manufacturers of Whole Farm brand – was not as per the Food Safety and Standards Act.

Diversity in the Tech Industry is Overestimated: Survey | Fortune

Market Trends

The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.

Regulatory Challenges

Meta could block news reposting if Australia enforces the 2021 law, similar to actions taken in Canada. Academics note increased misinformation spread in Canada since 2023 due to similar laws and reduced news promotion by Meta.

Amazon is promoting India’s social media influencers to create content directly on the Amazon platform. Zahid Khan, director of shopping initiatives at Amazon, highlights the dual approach of leveraging external social media platforms and creating engaging content on Amazon.

Industry Strategies

In light of a slowdown in new user signups, Zomato and Swiggy are implementing strategies to increase order frequency among their existing customer base. This approach aims to drive growth despite the challenges in user acquisition.

For the overall QSR industry, revenue growth for the final quarter of FY24 was at 9% on a year-on-year basis, down from 18% a year ago, while both same-store sales growth (SSSG) and average daily sales (ADS) declined, a report from brokerage firm BNP Paribas Exane said.

The U.S. social media platform last week said candidates for next month's polls will be shown a notification at the top of their feed in Facebook and Instagram on how to protect themselves and their accounts.