Weekly Newsletter

01 September 2023

Weekly Newsletter

01 September 2023

UPS to open Chennai technology centre, creating 1,000 jobs

UPS, a US-based logistics company, will invest up to $20m in a technology centre in Chennai, India, creating 1,000 jobs.

Richard Gardham August 30 2023

UPS is expanding its operations in India. Credit: William Barton via Shutterstock.

US-based logistics company UPS has announced a major development in the Indian city of Chennai. The investment will be worth between $15m and $20m and will create around 1,000 jobs over the next three years.

Bala Subramanian, executive vice-president and chief digital and technology officer at UPS, said: “These centres will enable us to offer an unparalleled logistics experience for our customers, through advanced technologies including AI, automation and robotics.

“We will focus on nurturing local talent, especially women and people from rural areas, to be a vital part of our global technology capabilities. At UPS, we don’t just provide jobs but open doors to fulfilling careers. UPS is the world’s leader in logistics and India is growing its logistics capabilities – we are here to create a win-win relationship.”

UPS was founded in 1907 in Seattle, and now employs more than 500,000 people across multiple global operations.

Generative AI expected to drive significant disruption across the financial services industry

Per latest GlobalData estimates, the AI market was valued at $81 billion in 2022, and is expected to achieve a CAGR of more than 35% between 2022 and 2030. Gen AI is being experimented with by many leading incumbent banks, new entrants and technology vendors but concerns around data privacy and hallucinations drive caution. More human-like chat bots, and synthetic data for fraud and cyber resilience, are leading possible use cases. However, currently Gen AI is virtually non-existent in terms of “live” customer facing propositions.

Find out more

Newsletters by sectors

Private Banker International open-new-tab

International Accounting Bulletin open-new-tab

Verdict open-new-tab

View more newsletters

Signup to the newsletter

Your corporate email address *
First name *
Last name *
Company name *
Job title *

I consent to Verdict Media Limited collecting my details provided via this form in accordance with Privacy Policy

close

Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close