An AI agent for sales reps; Why Indian banks must prioritise cyber security

The most interesting news selected specially for you! 22 September 2024 [View in Browser]( Hello, In today's newsletter, we will talk about: - An AI agent for sales reps - Banking on fragile ground - BYJU'S cut off from cloud, telecom services - Guiding new parents on nutrition - SaaS for Indian classical music Also, don't miss out on [TechSparks Bengaluru 2024]( Grab your tickets now! Here’s your trivia for today: What is the name of the literary club founded by J.R.R. Tolkien while in Oxford as a professor? --------------------------------------------------------------- --------------------------------------------------------------- Startup An AI agent for sales reps friends Ashutosh Singh, Neeraj Gupta, and Pankaj Gupta saw an opportunity to address the numerous challenges Business Development Representatives face, including burnout, inconsistency, and scalability issues, using AI. In 2024, they founded Revrag.ai and developed an AI-powered assistant to streamline repetitive tasks for sales teams, allowing them to concentrate on high-value activities. AI partner: - Revrag launched Emma, an AI agent designed to fully automate sales processes and scale outreach efforts. The AI agent prospects and writes bespoke hyper-personalised emails to book meetings for sales representatives. - “This technology will handle routine tasks and initial outreach, allowing human BDRs to focus on high-value activities that require emotional intelligence and complex problem-solving,” explains Co-founder and CEO Singh. - The startup has been piloting the product with multiple B2B startups including Segwise, Bindbee, GenscaleAI, FutureAGI, DevDymanics, and Fretron. [Read More]( --------------------------------------------------------------- From the CapTable Banking on fragile ground: The growing cybersecurity risk in India's financial sector Globally, banks have installed multiple disparate technology solutions over the years, and integrating them into a unified data standard, along with effective cybersecurity and data governance, has proven elusive. This fragmentation lies at the heart of many challenges within the Indian banking system and remains a persistent regulatory concern. In today’s digital landscape, where money is essentially represented as bytes of data, ensuring robust data governance is essential to maintaining trust in the banking sector. This is why there is regulatory urgency to push banks towards enhanced technological governance and continuous upgrading of standards. This, however, is an area where the sector has consistently lagged behind regulatory expectations. Building cyber resilience in Indian banking is no longer a strategic project; it has become an urgent necessity that has been delayed for far too long, leading to a potentially chaotic situation. As cyber threats continue to evolve in both sophistication and frequency, the failure to prioritise cybersecurity exposes banks to significant risks that can undermine customer trust and financial stability. Key Takeaways: - In today’s digital landscape, where money is essentially represented as bytes of data, ensuring robust data governance is essential to maintaining trust in the banking sector. - While there is regulatory urgency to push banks towards enhanced technological governance, the sector has consistently lagged behind regulatory expectations. - As cyber threats continue to evolve, the failure to prioritise cybersecurity exposes banks to significant risks that threaten customer trust and financial stability. - While the RBI has traditionally handled such matters with a soft touch, its regulation and supervisory actions must evolve. [Continue Reading]( --------------------------------------------------------------- Edtech BYJU'S cut off from cloud, telecom services providers, such as Amazon Web Services (AWS) and Vodafone Idea, have suspended their services to BYJU’S due to unpaid dues. BYJU’S has not paid AWS for at least two months, and has not recharged its commercial calling facilities package for Vodafone Idea in August, people aware of the matter told YourStory. However, the edtech company denied any suspension of services. Mounting troubles: - Amazon’s cloud computing platform AWS was providing cloud services to the edtech company’s mobile application, while telecommunications service provider Vodafone Idea was the sole mobile network service provider for the edtech firm. - “With so many vendor payments piling up and no revenue coming in, it’s getting difficult for BYJU’S to make any payments,” one of the sources said anonymously. - According to the second person quoted above, very few teachers are conducting online classes voluntarily as they are not being compensated for it given the edtech company’s financial struggles. [Read More]( --------------------------------------------------------------- Woman Entrepreneur Guiding new parents on nutrition many new parents, Sonal Babbar Bhardwaj had a lot of questions and realised that her friends, family and peers were equally confused. In 2023, she launched Viraa Care, which offers online courses for parents on topics, including breastfeeding and bottle feeding. Knowledge transfer: - Viraa Care offers two programmes—one-on-one consultations for three months and live courses where parents can interact with experts online. - With a team of five experts, Viraa Care claims to have helped over 500 families in the US and India. The startup had raised $100,000 in a pre-seed round in January 2024. - Bhardwaj plans to launch a B2B segment, collaborating with hospitals, gynaecologists, and paediatricians, so the startup can reach more parents. [Read More]( --------------------------------------------------------------- Entrepreneurship SaaS for Indian classical music Vinayakam, a trained Western and Indian classical musician, has found his calling in entrepreneurship. He is the brain behind the Gamaka Box Notation System–an innovative approach to notating the intricate ornamentations known as gamakas in Indian classical music, particularly in Carnatic music. But, like most entrepreneurs, Vinayakam faces a journey fraught with doubt and an obsession with an idea. Harmony: - With business tycoon Thyagarajan’s support, Vinayakam transformed his wife’s music school into the Music Temple Academy, set up a small office, and employed a few musicians to fine-tune the Gamaka Box Notation System he invented. - The ‘box’ in the name refers to the notation’s structure, where each set of notations appears within a box. - Music Temple aims to revolutionise music education—Carnatic, Hindustani, folk and film—by offering lessons through a software-as-a-service model. [Read More]( --------------------------------------------------------------- News & Updates - [Negotiations:]( Negotiators at Boeing and its largest union are due to resume talks over a labour contract on Tuesday, as the planemaker seeks to bring a swift end to a strike that is costing the indebted company an estimated $100 million a day. - [Fossil finds:]( Marine fossils dating back to as early as 8.7 million years ago have been uncovered beneath a south Los Angeles high school. The fossils include a saber-toothed salmon and a megalodon, the gigantic prehistoric shark. - [Star power:]( Universal Music Group said it expects to achieve high revenue and earnings growth through the end of 2028 as the record label behind Taylor Swift, Billie Eilish and Ariana Grande bets on subscriptions and its expanding network of partnerships. Did you know? What is the name of the literary club founded by J.R.R. Tolkien while in Oxford as a professor? Answer: The Inklings We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](