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Securities Litigation Attorney Comments On Bittrex Settlement: Don’t Expect Same Treatment For Binance – Crowdfund Insider

This week the Securities and Exchange Commission (SEC) announced a settlement in its enforcement action against Bittrex as well as a foreign affiliate. Bittrex agreed to a total penalty of $24 million. As part of the settlement, Bittrex neither admitted nor denied the SECs allegations, a frequent occurrence in these cases. The SEC had claimed that Bittrex operated as an unregistered broker, change, and clearing entity in handling digital assets.

At one point, Bittrex was one of the largest crypto exchanges offering services in the US.

Former Special Trial Counsel in the SECs Division of Enforcement Arthur Jakoby, now an attorney at Herrick, Feinstein, shared his thoughts with CI on the SECs settlement.

Jakoby explained that the settlement does not necessarily foreshadow an end result regarding the SECs actions against Coinbase and Binance:

The Bittrex settlement does not portend similar SEC settlements for crypto exchange platforms such as Coinbase and Binance. Since Bittrex Global had already closed down its US operations and put it into bankruptcy, it will not be affected by this settlement. Thus, there was no need to fight the SEC to establish that its now-closed operations were securities compliant. Beyond the claims of operating an unregistered broker, exchange, and clearing agency, Bittrex and [William] Shihara [former CEO of Bittrex] had also been charged with scrubbing its website of any statements that would suggest violations of U.S. securities laws. This settlement was undoubtedly influenced by these additional actions in order to escape regulatory scrutiny. The settlement, which does not require an admission of any facts by either Bittrex or Shihara, avoids any further SEC investigation of these allegations.

Binance is the largest crypto exchange in the world, with Coinbase in second place. Any decision by the SEC regarding both firms will have a sweeping impact on the industry unless Congress acts first to provide clarity in digital asset trading.

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Securing Truth Online: The Power of Image Encryption Against Deepfakes – Devdiscourse

In today's digital age, where information spreads like wildfire across the internet, ensuring authenticity has become more crucial than ever before. The rise of deepfake technology, which involves creating highly convincing fake content using artificial intelligence, has raised concerns about the reliability of online information. Fortunately, a powerful solution is emerging to combat this threat: image encryption.

Deepfakes are more than just entertaining or deceptive videos. They have the potential to spread misinformation, damage reputations, and even manipulate public opinion. As the lines between fact and fiction blur, the need to secure truth and authenticity online has become paramount.

Enter image encryption a potent tool in the fight against deepfakes. Image encryption involves encoding images in a way that only authorized users can access and decipher. This technology essentially locks your visuals behind a digital vault, ensuring that only those with the correct decryption key can view the original content. The result? Deepfakes lose their power to deceive.

Imagine you're a content creator sharing a significant moment captured in a photograph. By employing image encryption, you're adding an extra layer of protection to your content. The image is transformed using complex algorithms into a code that appears as gibberish to anyone without the decryption key. Even if a malicious actor attempts to manipulate your image, they can't decode it without the proper authorization.

While the primary goal of image encryption is to thwart deepfakes, its benefits extend further. By using encrypted images, you're safeguarding your visual assets from unauthorized use or distribution. This is especially important for photographers, artists, and businesses that rely on their visual content for branding and communication.

Implementing image encryption might sound complex, but user-friendly tools and software are making it increasingly accessible. Many platforms are integrating encryption features directly into their services, allowing users to encrypt and share their images securely. From watermarking to time-limited decryption keys, these tools provide a range of options for tailoring your content protection strategy.

As deepfake technology evolves, so does the need for advanced countermeasures. Image encryption stands as a beacon of hope in an era where digital trust is under siege. By securing our visual content, we're taking an essential step towards reclaiming authenticity in our online experiences.

In a world where reality can be manipulated with a few lines of code, image encryption emerges as the ultimate shield against deepfakes. It's a technology that empowers creators, preserves truth, and safeguards the integrity of the digital landscape. So, as we navigate this ever-changing online realm, let's embrace image encryption and secure truth for ourselves and generations to come.

Image encryption is not just a tool; it's a transformative force that's reshaping the way we interact with digital content. As deepfake technology becomes more sophisticated, our defense strategies must evolve as well. By understanding the power of image encryption, we're taking a stand for authenticity, trustworthiness, and a future where truth prevails in the vast sea of online information.

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Microsoft OneDrive Vulnerability Allows Encryption of Files – Fagen wasanni

There is a serious ransomware vulnerability in Microsofts desktop operating system, according to research presented at the Black Hat conference. The vulnerability is found in Microsofts cloud storage service, OneDrive, which is designed to sync and protect files. However, the researcher discovered that OneDrive can easily be turned against the systems it is meant to secure.

To exploit the vulnerability, the researcher first compromised a Windows machine to gain access to an account. They then discovered that OneDrive stores session tokens in log files, which can be extracted and used to gain control over the application. By creating junctions outside of OneDrives own directory, the researcher was able to manipulate, modify, and delete files on the local machine.

The researcher also found that the OneDrive app for Android has weaknesses that can be exploited. The apps API is different from other versions of OneDrive, which allowed the researcher to delete original copies of encrypted files, leaving the victim with only encrypted backups.

Endpoint detection and response (EDR) software should theoretically detect this type of activity, but according to the researcher, major enterprise vendors EDR software failed to identify the OneDrive vulnerability. Only SentinelOnes software was able to detect the threat and raise a flag about a possible ransomware attack.

Microsoft has released a fix for the vulnerability, and other vendors have patched their EDR software. However, the researcher emphasized that applications should not automatically trust processes like OneDrive by default and should implement measures to detect and stop potential attacks.

In conclusion, the Microsoft OneDrive vulnerability allows an attacker to encrypt files using a legitimate piece of software. Immediate action should be taken to address this vulnerability and improve security measures.

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How Network Encryption is Reshaping the Landscape of Internet … – Fagen wasanni

The Transformational Impact of Network Encryption on Internet Technology

Network encryption, a method of disguising information to protect it from unauthorized access, is dramatically reshaping the landscape of internet technology. As the digital world continues to evolve, the importance of network encryption in maintaining the integrity and confidentiality of data has become increasingly apparent. This transformational impact is being felt across various sectors, from business to government, and is fundamentally altering the way we interact with the internet.

In the past, data transmitted over the internet was often left unprotected, leaving it vulnerable to interception and misuse. However, with the advent of network encryption, this data is now converted into a code that can only be deciphered with a specific key. This has significantly enhanced the security of online communications, making it much harder for cybercriminals to gain access to sensitive information.

The rise of network encryption has also had a profound impact on the business world. Companies are now able to conduct transactions and share confidential information online with a much higher degree of confidence. This has opened up new opportunities for businesses to expand their operations and reach a global audience. Moreover, it has also led to the development of new business models that rely heavily on secure online transactions, such as e-commerce and online banking.

In addition to enhancing security, network encryption has also played a crucial role in protecting privacy. In an era where personal data is often treated as a commodity, encryption provides a powerful tool for individuals to safeguard their information. This has become particularly important in light of recent data breaches and controversies surrounding the misuse of personal data by tech giants.

Furthermore, network encryption has become a key component of regulatory compliance in many industries. For instance, the healthcare sector is required to comply with the Health Insurance Portability and Accountability Act (HIPAA), which mandates the use of encryption to protect patient data. Similarly, the finance sector is governed by regulations such as the Payment Card Industry Data Security Standard (PCI DSS), which also requires the use of encryption to protect customer data.

However, while network encryption has brought about numerous benefits, it is not without its challenges. One of the main issues is the complexity involved in managing encryption keys. If these keys are lost or stolen, the encrypted data can become inaccessible. Moreover, the use of encryption can also slow down network performance, which can be a significant issue for businesses that rely on real-time data processing.

Despite these challenges, the transformational impact of network encryption on internet technology cannot be overstated. It has fundamentally changed the way we interact with the internet, providing a much-needed layer of security and privacy in an increasingly interconnected world. As we move forward, it is clear that network encryption will continue to play a pivotal role in shaping the future of internet technology.

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Encrypted iMessage chats lead to record-breaking SEC fines for Wells Fargo, Wall Street – AppleInsider

Several banks and Wall Street firms have just been fined millions of dollars for hiding messages in a variety of different messaging apps, including Apple's own iMessage.

Securities and Exchange Commission

Apple, along with other messaging companies, find themselves in the mix of a series of new SEC fines, albeit not legally, thanks to features like end-to-end encryption. This properly secures messages on platforms like iMessage, WhatsApp, and Signal, but it also means conversations can become inaccessible.

Both the SEC and the Commodity Futures Trading Commission (CFTC) both levied major fines against several institutions, several of which fall under the Wells Fargo umbrella, as reported by The Verge. As such, it's Wells Fargo that will pay out most of the combined $549 million in fines after the companies confirmed they were not able to surface conversations regarding official company business that were made on personal devices using encrypted messaging services.

Employees at these firms and institutes, including "those at senior levels," used standard messaging apps like Apple's Messages, WhatsApp, Signal, and others to discuss company business dating back as far as 2019. These all offer end-to-end encryption, which means data is inaccessible once deleted, and Apple or the other app makers can't recover conversations.

Those conversations were apparently not "maintained or preserved," and therefore violate the 1934 Securities Exchange Act's record-keeping rules as well as the Investment Advisers Act of 1940, according to the SEC. The CFTC has its own set of record-keeping requirements, which the companies also violated.

Wells Fargo companies share the brunt of the fines, paying out $125 million to the SEC and another $75 million to the CFTC. SEC enforcement director Gurbir S. Grewal said, "Here are three takeaways for those firms who haven't yet done so: self-report, cooperate and remediate. If you adopt that playbook, you'll have a better outcome than if you wait for us to come calling."

Here's how it all breaks down, per agency:

User and device security are major feature pillars for Apple, and it has pushed for end-to-end encryption support for years, and not just in iMessage. Governments all across the globe have tried to argue that these apps are a criminal's dreamland. The company has gone as far as to say it will shut down services like iMessage in the United Kingdom if the government passes a bill to limit end-to-end encryption.

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Wasion : Subsidiary Win HK$222.73 million Contracts from Southern … – Marketscreener.com

Subsidiary Win HK$222.73 million Contracts from Southern Grid

August 10, 2023

[Press release] For immediate release

Subsidiary Win HK$222.73 million Contracts from Southern Grid

Ranked a leading position in terms of contract value and ranked first in the smart

switch industry

(Hong Kong, 10 August 2023) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), China's leading provider of energy measurement equipment and energy- saving solutions, is pleased to announce that Wasion Energy Technology Co., Ltd., a subsidiary of the Group, won contracts in the first framework tender on equipment for distribution network in 2023 from China Southern Power Grid Co., Ltd., with a total value of approximately RMB205.81 million (approximately HK$222.73 million). The Group ranked a leading position in terms of contract value in this framework tender and ranked first in the smart switch industry.

The products awarded in this bid include a range of core products developed independently by the Group, including 10kV SF6 fully insulated circuit breaker cabinet with automation system, 10kV outdoor switchgear cabinet, 10kV pole-mounted vacuum circuit breaker with automation equipment, and low-voltage switchgear cabinets. These products provide strong technical support for the stable operation of the power grid and the upgrade of digital grids.

Mr. Ji Wei, Chairman of the Group said: "Throughout this year, a series of national policies have been progressively issued to promote the advancement of new power systems, presenting clearer construction objectives and pathways, thereby further unleashing market potential. The Group actively embraces the development opportunities arising from industry transformation and proactively aligns its development strategies with evolving market regulations. Innovation in product research and development has consistently served as a crucial means for enhancing the Group's competitive edge. The success of this bid is a resounding recognition of its cutting-edge and high- quality smart grid products and exceptional customer service, garnered from key power grid customers. It also highlights the Group's prominent position as a leader in the smart grid field."

-Ends-

About Wasion Holdings Limited

Wasion Holdings is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Power Advanced Metering Infrastructure (Power AMI), Communication and Fluid Advanced Metering Infrastructure (Communication and Fluid AMI), and Advanced Distribution Operations (ADO) (Smart Distribution Solutions (SDS), Smart Distribution Devices (SDD), and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide to Asia, Africa, Europe and the United States. Its research center and laboratory have been certified as national grade and meet international standards. Wasion's R&D capabilities in smart metering and energy saving solutions are renowned within the industry.

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How sure is sure? Incorporating human error into machine learning – University of Cambridge news

Human error and uncertainty are concepts that many artificial intelligence systems fail to grasp, particularly in systems where a human provides feedback to a machine learning model. Many of these systems are programmed to assume that humans are always certain and correct, but real-world decision-making includes occasional mistakes and uncertainty.

Researchers from the University of Cambridge, along with The Alan Turing Institute, Princeton, and Google DeepMind, have been attempting to bridge the gap between human behaviour and machine learning, so that uncertainty can be more fully accounted for in AI applications where humans and machines are working together. This could help reduce risk and improve trust and reliability of these applications, especially where safety is critical, such as medical diagnosis.

The team adapted a well-known image classification dataset so that humans could provide feedback and indicate their level of uncertainty when labelling a particular image. The researchers found that training with uncertain labels can improve these systems performance in handling uncertain feedback, although humans also cause the overall performance of these hybrid systems to drop. Their results will be reported at the AAAI/ACM Conference on Artificial Intelligence, Ethics and Society (AIES 2023) in Montral.

Human-in-the-loop machine learning systems a type of AI system that enables human feedback are often framed as a promising way to reduce risks in settings where automated models cannot be relied upon to make decisions alone. But what if the humans are unsure?

Uncertainty is central in how humans reason about the world but many AI models fail to take this into account, said first author Katherine Collins from Cambridges Department of Engineering. A lot of developers are working to address model uncertainty, but less work has been done on addressing uncertainty from the persons point of view.

We are constantly making decisions based on the balance of probabilities, often without really thinking about it. Most of the time for example, if we wave at someone who looks just like a friend but turns out to be a total stranger theres no harm if we get things wrong. However, in certain applications, uncertainty comes with real safety risks.

Many human-AI systems assume that humans are always certain of their decisions, which isnt how humans work we all make mistakes, said Collins. We wanted to look at what happens when people express uncertainty, which is especially important in safety-critical settings, like a clinician working with a medical AI system.

We need better tools to recalibrate these models, so that the people working with them are empowered to say when theyre uncertain, said co-author Matthew Barker, who recently completed his MEng degree at Gonville& Caius College, Cambridge. Although machines can be trained with complete confidence, humans often cant provide this, and machine learning models struggle with that uncertainty.

For their study, the researchers used some of the benchmark machine learning datasets: one was for digit classification, another for classifying chest X-rays, and one for classifying images of birds. For the first two datasets, the researchers simulated uncertainty, but for the bird dataset, they had human participants indicate how certain they were of the images they were looking at: whether a bird was red or orange, for example. These annotated soft labels provided by the human participants allowed the researchers to determine how the final output was changed. However, they found that performance degraded rapidly when machines were replaced with humans.

We know from decades of behavioural research that humans are almost never 100% certain, but its a challenge to incorporate this into machine learning, said Barker. Were trying to bridge the two fields so that machine learning can start to deal with human uncertainty where humans are part of the system.

The researchers say their results have identified several open challenges when incorporating humans into machine learning models. They are releasing their datasets so that further research can be carried out and uncertainty might be built into machine learning systems.

As some of our colleagues so brilliantly put it, uncertainty is a form of transparency, and thats hugely important, said Collins. We need to figure out when we can trust a model and when to trust a human and why. In certain applications, were looking at probability over possibilities. Especially with the rise of chatbots, for example, we need models that better incorporate the language of possibility, which may lead to a more natural, safe experience.

In some ways, this work raised more questions than it answered, said Barker. But even though humans may be miscalibrated in their uncertainty, we can improve the trustworthiness and reliability of these human-in-the-loop systems by accounting for human behaviour.

The research was supported in part by the Cambridge Trust, the Marshall Commission, the Leverhulme Trust, the Gates Cambridge Trust and the Engineering and Physical Sciences Research Council (EPSRC), part of UK Research and Innovation (UKRI).

Reference:Katherine M. Collins et al. Human Uncertainty in Concept-Based AI Systems. Paper presented at the Sixth AAAI/ACM Conference on Artificial Intelligence, Ethics and Society (AIES 2023), August 8-10, 2023. Montral, QC, Canada.

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The 3 Best Machine Learning Stocks to Buy in August – InvestorPlace

Source: Phonlamai Photo / Shutterstock.com

In todays changing stock market, the best machine learning stocks to buy are grabbing attention. The frenzy surrounding the sector stems from the transformative nature of the technology. Machine learning, a significant part of artificial intelligence (AI), continues transforming various sectors. In time, this idea will influence every facet of our world. The rapidly progressing sector brings forth improvements in data interpretation, automation and decision-making processes, to name a few.

As the month progresses, many investors will focus on these must buy machine learning stocks to tap into the industrys growing potential. With so many options available, which ones truly stand out? Join us as we explore the best machine learning stocks to buy.

Source: Poetra.RH / Shutterstock.com

Palantir Technologies (NYSE:PLTR) has undoubtedly etched its name as one of Augusts must buy machine learning stocks. With a striking year-to-date (YTD) return of 138%, the data-driven behemoth demonstrates what it means to be among the top machine learning stocks for investors keen to ride the AI revolution.

Palantir primarily engages in data analytics. It uses its AI and machine learning models to provide insights that decision-makers can use to improve their decision making process. Initially, Palantir focused mainly on government contracts. Recently, though, it has broadened its commercial clientele and now showcases a varied portfolio.

Moreover, the latest Q2 earnings report, showcased a non-GAAP EPS of 5 cents and a revenue of approximately $533.3 million, aligned with Wall Streets projections, offering investors a consistent feeling of confidence.

However, it wasnt solely the earnings that captured the attention of investors. Amid the buzzing AI landscape, Palantirs strategic decision to raise its full-year sales forecast further cemented its position among leading AI stocks. Bolstering this momentum, the announcement of a $1 billion share buyback program clearly underlines the companys confidence in its growth trajectory.

Source: Sundry Photography / Shutterstock

As August takes center stage, investors keen on infusing their portfolios with cutting-edge technology may want to zoom in on Snowflake (NYSE:SNOW). With a commendable YTD return of around 13%, Snowflake has secured a spot among the top machine learning stocks this month. But whats truly fascinating is its Q1 2024 financials. Snowflake reported a robust 48% jump in revenue, raking in $623.7 million. Though it registered a net loss, the rapid growth trajectory shows promise. The three-year revenue growth rate for the company stands at an impressive 80%.

The markets confidence in Snowflake isnt solely hinged on these figures. The recent buzz? Snowflakes expanding alliance with industry behemoths. The stock got a fresh tailwind after announcing a partnership with Nvidia (NASDAQ:NVDA) for generative AI applications. Moreover, its deepening ties with Microsoft (NASDAQ:MSFT), emphasizing generative AI, is an apt testament to its vision. With Morgan Stanley (NYSE:MS) indicating that the cybersecurity industry will gain as much as $30 billion, tech synergy and alliances could potentially play a pivotal role for Snowflake. Furthermore, the upgrade from Scotiabank (NYSE:BNS), which celebrates the companys revenue and product strength, adds another feather to its cap.

Source: Sundry Photography / Shutterstock.com

In the ever-evolving realm of machine learning stocks, ServiceNow (NYSE:NOW) is emerging as a standout, charting an impressive 42% YTD return. For the second quarter of 2023, ServiceNow announced a strong revenue figure of $2.15 billion. The number reflects 23% growth from the previous year. Remarkably, the net income surged to an impressive $1.04 billion, representing a fivefold increase. This leap translated to a diluted EPS of $5.08, exceeding expectations by nearly 16%.

Diving deeper into the recent headlines, theres a palpable buzz around ServiceNows innovative strides. The collaboration with Nvidia and Accenture (NYSE:ACN) for the AI Lighthouse project notably bridges ServiceNows enterprise automation capabilities with Nvidias supercomputing prowess. The recent launch of Starcoder, in alliance with Hugging Face, underscores ServiceNows commitment to revolutionizing the digital workflow landscape. Furthermore, the unveiling of Now Platforms major expansion in Utah promises firms enhanced agility on their digital journeys.

ServiceNow unquestionably leads the pack for those seeking machine learning stocks with consistent growth. The bold forays into AI and strategic partnerships signify their position as a must buy machine learning stock. So, while the AI world is vast and full of contenders, ServiceNow shines brightly, making the future look not just smart but also exceptionally efficient.

On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

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Meet Rebecca Gorman, whose company, Aligned AI, is trying to match up human values with machine learning – Fortune

Even the best artificial intelligence systems dont always reflect what humans actually wantor need. Rebecca Gorman has made it her mission to better align these two things or rather, to better align A.I. with what humans are actually asking it to do.

Her startup, aptly named Aligned AI, is the culmination of years of research into how to make the underpinnings of A.I. safer and more ethical, including research she conducted at the University of Oxford. She was living in San Francisco when she met a fellow researcher, Stuart Armstrong, who was simultaneously working on ways we could prevent or at least mitigate existential risk from A.I., when Aligned AI was hatched.

He was giving [a talk] on a controversial subject dear to both our hearts: that A.I. will inaccurately deduce what a human wants if all it has to go on is data about a humans behavior, says Gorman. She says that meeting led to extensive research collaboration, and ultimately founding this company to research, develop, and distribute technology for aligning artificial intelligence with human values.

Two years in, Gorman and her team are building out an alternative to OpenAI. Its a model that learns concepts that correspond to ours, says Gorman (the ours refers to human beings). Basically, the entrepreneur and her cofounder are trying to develop technology that has more safety guardrails in place, which she believes will reduce the cost and time involved with deploying A.I. models, in addition to cutting down on bad or biased information.

At this very moment, we have more inbound sales inquiries than we can service, says Gorman. [Its] a good problem to have.

Fun fact: Gorman learned to program at age 8 and made her first A.I. 20 years ago.

The Fortune Founders Forum is a community of entrepreneurs chosen by Fortunes editorial team to participate at the annual Brainstorm Tech conference, which took place in Deer Valley, Utah, in July. Our inaugural cohort was selected based on a variety of factors, including the potential impact of their companies, and reflected a diversity of geographies, sectors, and demographics.

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Best of artificial intelligence, machine learning will be deployed at Air India; airline is not just anoth – The Economic Times

NEW DELHI: Tata Sons Chairman N Chandrasekaran on Thursday said the best of artificial intelligence and machine learning will be deployed at Air India and emphasised that the airline is not just another business for the group but a passion and a national mission.As Tata Group steers the transformation of loss-making Air India since taking control in January last year, Chandrasekaran said that he most of the time receives "caring criticism" about the airline that also further strengthens the commitment.Speaking at an event in the national capital where Air India's new brand identity and aircraft livery were unveiled, he said the focus is on upgrading all human resources aspects in the airline.According to him, there is a lot of hard work needed but the path is clear for the airline, and added that the best of artificial intelligence and machine learning will be deployed at the airline."We are focusing on upgrading all human resources aspects of the airline. Our fleet requires a lot of work. While we have ordered one of the largest fleet orders, it will take time.

"In the meantime, we have to refurbish our current fleet at an acceptable level. Our aim is to have the best of machine learning and the best of AI in Air India than any other airline," he said.

The new logo, signified by that historically used window, the peak of the golden window, signifies limitless possibilities, progressiveness, confidence and all of that, he emphasised.

Tata Group took control of Air India in January 2022.

Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, Air India International was launched with flights to Europe.

In 1953, Air India was nationalised and last year, the airline was taken over by the Tata Group from the government.

( Originally published on Aug 10, 2023 )

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