"Impact of Open Data: Transforming Financial Markets, Science, Digital Governance, and Public Health"
Published: 2024-06-29Welcome to today’s edition of the Daily Open Data Digest! We’re here to share the latest news on how open data is changing different areas and making a big impact. Today, we’ll talk about financial markets, science, digital transformation, and public health. Let’s get started and see what’s happening.
In financial markets, the Nifty index had a small drop after hitting a record high of 24,174. Experts think the market will settle down for a bit, with support levels at 23,750-23,700. The July series might keep going up, with possible targets at 24,300 and 24,700. Foreign Institutional Investors (FIIs) are still positive, but the India VIX might go up before the union budget. Key sectors to watch are IT, Oil & Gas, Pharma, Banking, Financial Services, and Auto. Changes in taxes on Futures and Options (F&O) income could affect trading plans, and SEBI’s new rules aim to improve liquidity in the F&O segment.
In science, NASA and IBM have created INDUS, a set of large language models for scientific fields. INDUS is great at tasks like answering questions and recognizing entities, doing better than general models. This helps research by giving specialized knowledge and improving data extraction. The models are available for various scientific uses, changing how research is done. INDUS is already used in NASA projects, making searches more accurate and relevant.
In digital transformation, Oman’s 2023 annual report shows the success of the ‘Tahwaul’ government program, with a 53% overall performance. Government entities averaged 72% in digital transformation, and governorates reached 54% out of 56 entities. Success factors included better governance, leadership awareness, and dedicated digital teams. Efforts focused on simplifying procedures, improving user experience, and reaching a 61% digitization target for core services by 2025. Initiatives included workshops, training, and working with the International Telecommunication Union (ITU) for digital innovation. Future goals for 2024 include launching the National Open Data Platform and the Government Unified National Portal for e-Services.
In public health, a recent check by the Indian government found that 80% of public health facilities don’t meet essential standards, with only 20% scoring 80% or higher according to Indian Public Health Standards (IPHS). Efforts are being made to make 70,000 facilities IPHS compliant within 100 days. Future plans include surprise inspections and assessments under National Quality Assurance Standards. The Ministry of Health stresses real-time monitoring to keep standards high, with the National Health Mission (NHM) covering 60% of facility costs and states funding the rest. Despite challenges, significant improvements are aimed at ensuring better health services for all.
Open data initiatives give people and organizations access to valuable information that helps them make informed decisions. These initiatives promote transparency, accountability, and innovation. Public perception is crucial for the success of open data initiatives. When people understand and trust the data, they are more likely to support and engage with these efforts.
For example, New York City’s open data portal has changed public perception by making many data sets available to the public. This transparency has increased trust in local government and empowered citizens to participate in civic activities. Another example is the European Union’s Open Data Portal, which has improved public perception by providing access to data that supports research, innovation, and policy-making across member states.
Today’s updates show the power of open data in different areas. From financial markets and scientific research to digital transformation and public health, open data is driving big improvements and creating a better future. As we continue to use the power of information, knowledge, and insights, we pave the way for a world where data-driven decisions lead to sustainable and impactful change.
Stay tuned for more updates and keep exploring the world of open data with us. Together, we can make a difference and leave a better world for future generations.
Thank you for joining us in today’s edition of the Daily Open Data Digest. Until next time, stay informed and empowered!
https://economictimes.indiatimes.com/markets/expert-view/fo-talk-deploy-bull-spread-in-nifty-as-fiis-highly-net-long-sudeep-shah-of-sbi-securities/articleshow/111362481.cmsRelated news on 2024-06-29
- economictimes.indiatimes.com: F & O Talk | Deploy bull spread in Nifty as FIIs highly net long : Sudeep Shah of SBI Securities
- omanobserver.om: Government entities achieve 72 % of digital transformation goals
- spacedaily.com: NASA - IBM team up for large language models for advanced research
- menafn.com: Public Health Facilities In India Falling Short Of Essential Standards : Govt Assessment Reveals
- timesofoman.com: The performance of govt institutions in digital transformation in 2023 was 72 percent