The Indian Panorama

Tech lay offs – Major lay offs in corporate world

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The entire year passed with a grim reminder of imminent recession round the corner. The recovering economies around the globe faced multi-pronged challenges including Russia-Ukraine conflict, Supply-Chain constraint, more. Hence, many big tech companies laid off some portion of their workforce in order to cut cost and make themselves prepared for recession. Facebook, Meta, BYJU’s, Disney, and Salesforce were some of them which cut 1% to 13% of their staff this year.

ChatGPT sensation on Internet

Artifical Intelligence-based new prototype chatbot ‘ChatGPT’ made the sensation this year in the world for its advanced capability of understanding natural language and responding in a natural language. The prototype based chatbox was developed by Artificial research company OpenAI.

FTX Fiasco

Crypto exchange FTX filed for US bankruptcy proceedings on November 11 and Sam Bankman-Fried stepped down as CEO, after a rapid liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. FTX`s collapse also led to the spectacular fall in the fortune of its founder Bankman-Fried.

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