The electrification in transportation will help the environment to build up more sustainable growth, which was difficult with the conventional mode of vehicles. The rise in electric vehicle demand also makes a difference in the oil demand for traditional vehicles in 2023.

Surveys have shown that 2023 is expected to see 102 million barrels of oil consumption a day globally. Almost 50 percent of the oil consumption belongs to transportation by vehicles. The rise in electric vehicle production will mold the picture by replacing a portion of conventional cars in the automotive industry. Based on the survey reports, electric vehicles will achieve the target of displacing 20 million barrels of oil per day by 2040. The results also predicted that…

Google steps into its 15th year of success in September 2023; meanwhile, the company has announced some important updates on its Chrome. Recently, surveys have shown Google Chrome to be the leading web browser in 2023. Google is renovating Chrome in new ways and adding more features to the existing ones.

Google aims to build Chrome as a fast, secure, easy-to-access, and reliable web browser. Also, Chrome has achieved the fastest web browsers to load searches in benchmark tests in 2023. Google also integrated machine learning into Chrome for a more accessible browsing experience. With generative artificial intelligence in language models and other technical features, Google is progressing in business sectors. Therefore, on completion of 15…

Artificial intelligence has positively transformed the lives of individuals. The new trend of integrating artificial intelligence into the business facilitates the industry's financial, technical, and other works. Speech artificial intelligence (AI) helps to converse with customers to provide them with services and insights into the industry in 2023. Several startups in 2023 have embarked into the sector with Speech AI; Contiinex is one of the well-known speech AI startups to have raised USD 2 million in a pre-series A round from two venture fund houses in 2023.

Speech AI provides efficient solutions with easier usage to customers, thus making technological advances more convenient for consumers. With growing technological advancements,…

With artificial intelligence (AI) shooting its branches in all sectors of the economy in 2023, along with big corporates, it has made its prominence better in the entertainment industry. In July 2023, Netflix recently created a job posting for a machine learning platform (MLP) product manager who can pay a salary of USD 300,000 to USD 900,000 per year.

The MLP position aims at designing the job role by enhancing the grasp of Netflix's specific program and utilizing artificial intelligence in all aspects, business, and user recommendations, among other things. The job description indicates that it will help create great content and develop new algorithms for movies and shows. Also, the company says that it will be using artificial…

Nvidia's large language models (LLM) and generative artificial intelligence (AI) in 2023 are progressing with innovations. Recently, at Nvidia's annual Graphics Processing Unit (GPU) Technology conference in 2023, the company announced its partnership with Google Cloud. This collaboration marks the launch of L4 GPU and Vertex AI to speed up companies' production, focusing on generative AI applications.

Nvidia mentions that the L4 platform enhances the quality of artificial intelligence-powered video performance. It is currently available in the private preview on Google Cloud through Google's G2 virtual machines, as per the information given by the organization. The company adds that L4 can decode, stream, and transcode. Nvidia says it…

The international monetary fund (IMF) warned about global food inflation in 2023. The consequences of food inflation are shortages of food grains and a ban on rice exports from rice-producing countries, among others.

India is among the world's most extensive rice exporter countries, accounting for around 40 percent of worldwide rice exports, along with Thailand, Vietnam, the United States, and Pakistan. More than half of the rice belongs to non-basmati white rice varieties. According to International Rice Research Institute (IRRI), rice is pivotal in handling malnutrition and hunger-related issues in Southeast Asia. It is the staple food of that region and comprises 48 million hectares of land, equaling 30 percent of the world's rice…

Inflation in the United Kingdom reached 6.8 percent in July 2023 as per the recent Consumer Price Index (CPI) data. The drop in inflation by 4.3 points compared to 2022 indicates the actual data matches the expected economic calculations done by the agencies.

The UK faced a sudden hike in February 2023, but the inflation rates began falling systematically and continuously. With the rate of interest by the Bank of England from 2.25 to 5.25 in September 2022, the rate has been hiked by 3 points to counter inflation. This strategy applied by the Bank of England has helped a lot in controlling the rising inflation to come down efficiently. If recorded monthly, the consumer prices index has fallen by 0.4 percent in July 2023 compared to 0.6…

China’s leading electric vehicles company Build your dreams (BYD) is dominating the electric vehicles’ market with its rising sales in the first half of 2023. The electric vehicles companies in China have reported for 56 percent of the global unit sales.

According to a survey conducted, the global electric vehicle sales have increased by 50 percent year-over-year in the second quarter of 2023.  At the same time, the progress of the Chinese companies globally comes with the scalable benefits in their own land, that makes for 56 percent of the global unit sales in the second quarter of 2023. As per the analysts, BYD is the topmost passenger electric vehicles manufacturer, among the other five companies that sells most of their electric cars…

The growing climate change lays numerous reasons to opt for an energy transition by lowering the need for fossil fuels and shifting the focus to renewable energy. Many countries have aims to achieve net -zero by 2050. Thus, energy transition is an awakening process to fight against climate change in 2023 as different nations take necessary actions against it.

According to recent trends in 2023, the clean energy sector sees progress in the economy in 2023. The investment in clean energy is gaining momentum in 2023 since sustainable development goals (SDGs) have been integrated firmly. As per the recent data, world energy investment in 2023 is anticipated to rise by 7 percent to hit a record of USD 2.8 billion trillion. Even if it is far…

Digital payments are a new way of transforming the economy via online and cashless payments. The world is seeing immense growth in digital payment, and emerging economies like India are developing a new digital ecosystem. The progress in the digital payment field is revolutionizing India digitally.

Based on a survey in 2023, online payment numbers have increased more than 100 times in the last nine years, from 127 crore in 2013-14 to 12,735 crore online payments in 2022-2023. Various factors affect the online pay portals to grow in this period. One of the major factors accelerating the growth of digital payments is the convenient-to-pay portals, such as Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), prepaid payment…

Electric vehicles (EVs) are ruling the automotive industry as the market is seeing exponential progress in 2023. BYD and Tesla dominate the electric vehicle sales worldwide in 2023. Sustainable mechanisms with technology are boosting the growth of electric vehicles. This electrification in the auto industry is set to cut the use of around 5 million barrels of oil per day by 2030.

According to the International Energy Agency (IEA), the worldwide sales of electric cars will surge in 2023 and will be one-fifth of the overall car market in 2023. Electric vehicles are bringing many changes to the car production industries globally. Thus, EVs are driving the emerging global energy economy currently. Based on the surveys, Chinese market leaders…

The packaging industry has grown in the last five years, making handling packaging of parcels easier with its new trends and developing technologies. Sustainable packaging is one of those trends. One of the leading recyclers of agricultural film, LyondellBasell and AFA Nord, has recently come forward to form a fifty-fifty joint venture for recycling commercial secondary packaging wastes in 2023. The company LyondellBasell plans to build a mechanical recycling plant in northern Germany to recycle plastic materials for use in flexible packaging. The recycling process here will consider Linear Low-density polyethylene (LLDPE) and low-density polyethylene (LDPE) waste to be converted into recycled plastic materials, and it is expected to start…

The electric vehicle market is progressing day by day with new features in the automotive industry in 2023. The automotive industry is witnessing an essential phase with electric vehicles, which are more sustainable than conventional vehicles, environmentally friendly technologies, and others.

According to a survey, the global electric vehicle market is expected to reach up to 14 million units with a diffusion rate of 18 percent in 2023. The data says it was at 10 million units with a diffusion rate of 14 percent in 2022. Europe and China are the leading market players in the world in the production of electric vehicles, as per the reports. There are many advantages to opting for electric vehicles over conventional ones, with more key…

Google is growing daily with its new advancements in different technology sectors. The company is implementing artificial intelligence (AI) for technical developments in its tools and services. Recently, according to a survey conducted for July-August 2023, Chrome is the most used web browser in the world.

A survey shows that the regional use of Google Chrome globally in 2023 shows South America has the highest number of Chrome users, with a 78.9 percent market share. It is followed by the African region and Asia with 71.5 and 72.2 percent market share for the July-August 2023, respectively. Europe and North America's worldwide market share of Chrome web users is comparatively less, with 58.6 and 53.1 percent, respectively. Thus, the data…