In recent years, artificial intelligence (AI) has made significant strides, enabling machines to understand and respond to human language like never before. One of the most remarkable achievements in this field is ChatGPT, an advanced language model developed by OpenAI. With its ability to engage in natural and coherent conversations, ChatGPT has ushered in a new era of human-machine interaction. In this blog post, we will explore the fascinating capabilities of ChatGPT and discuss its diverse range of applications across various industries. he Birth of ChatGPT : ChatGPT, built upon the foundation of the groundbreaking GPT-3.5 architecture, represents the culmination of years of research and development in natural language processing. Trained on vast amounts of text data, ChatGPT has achieved an impressive level of proficiency in understanding and generating human-like text. Its underlying neural network empowers it to comprehend context, generate coherent res
Digital Payments
#SSC-CGL2018 #SSC-CHSL2018 #IB #SBI-PO (250 words)Important Topics for SSC, IB, BANK
Digital payments platform such as mobile wallet, payment bank, electronic authentication is on the surge in India with no indication of respite as it is projected to be 1 trillion dollars by 2023 which is at least five times of now. The entire system is a flagship program of Government to make India a digitally empowered economy.
In the last decade, the rise of smartphones has given a boost to digital payments in India which previously was solely dependable on ATM Cards, IMPS, NEFT and RTGS as the only mode outside traditional facilities. Other than smartphones, demonetisation stroke the final blow towards digital financing. As cash crunch shook the market, people desired for alternatives. And to tap this urgent need government introduced Aadhaar-enabled UPI under the supervision of National Payments Corporation of India(NPCI) to bring the robust change in the mode of economic activities. Since then many domestic and international firms like Alibaba backed Paytm, Flipkart backed Phonepe, Google Tez have tried to fit itself into profiting Indian digital market. PSBs are not far behind as they too joined the pull. While the benefits of digital payments are exponential so are the risks. As growing digital theft of identity and security challenges like phishing and hacking are rising, the sole point of having a hassle-free alternative digital system is under grave threat.
Prospect of digital payments in India are great as consumers are accepting it wholeheartedly. Nevertheless more its popularity grows, more will be the concern. While companies implementing it should focus more on security and privacy, consumers too should maintain good security habit.
In the last decade, the rise of smartphones has given a boost to digital payments in India which previously was solely dependable on ATM Cards, IMPS, NEFT and RTGS as the only mode outside traditional facilities. Other than smartphones, demonetisation stroke the final blow towards digital financing. As cash crunch shook the market, people desired for alternatives. And to tap this urgent need government introduced Aadhaar-enabled UPI under the supervision of National Payments Corporation of India(NPCI) to bring the robust change in the mode of economic activities. Since then many domestic and international firms like Alibaba backed Paytm, Flipkart backed Phonepe, Google Tez have tried to fit itself into profiting Indian digital market. PSBs are not far behind as they too joined the pull. While the benefits of digital payments are exponential so are the risks. As growing digital theft of identity and security challenges like phishing and hacking are rising, the sole point of having a hassle-free alternative digital system is under grave threat.
Prospect of digital payments in India are great as consumers are accepting it wholeheartedly. Nevertheless more its popularity grows, more will be the concern. While companies implementing it should focus more on security and privacy, consumers too should maintain good security habit.
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