iWorld
Magnifi revolutionises the Vietnam Pro Basketball League with AI-powered capabilities
Mumbai: Magnifi by VideoVerse – an AI-driven video technology company and powerful video-editing SaaS platform founded by Indian founders – has announced the support of the 2023 season of popular the Vietnam Pro Basketball League (VBA) with AI-powered video highlights of the matches, video on demand and social media features. The league has already witnessed over one million collective views on Facebook and Youtube till July 2023.
Magnifi’s offering for the VBA league includes full match highlights and player highlights, featuring dynamic graphic overlays and multiple aspect ratios of 16:9, 9:16, and 1:1. Additionally, the league benefits from Magnifi’s expert social media publishing on Facebook, YouTube, and TikTok, along with the customisable video on demand (VOD) packages and self-served dashboards, ensuring an exceptional fan experience throughout the entire season culminating in September.
The impactful results achieved since the VBA embraced Magnifi’s Highlights tool in early June show a staggering 773 per cent higher video production resulting in a 76 per cent increase in overall viewership. Social media engagement has also skyrocketed across all platforms.
Magnifi by VideoVerse CEO and co-founder Vinayak Shrivastav, highlighted the company’s commitment to forging robust collaborations with leagues and associations, stating, “As a company dedicated to providing sports broadcasting highlights, it is our priority to create powerful partnerships like the one with the VBA. Through our leading AI-powered platform, we have demonstrated how we can enhance efficiency and boost content engagement with sports fans.”
“VBA has always endeavoured to deliver the hottest play of the season in real-time and keep the engagement with our viewers ongoing. Keeping our fans happy and allowing them easy access to highlights and short videos was the challenge. Magnifi has played a pivotal role in making this season exceptional, and the VBA hopes to extend this fruitful collaboration for many years to come,” expressed Phuoc Truong at VBA.
Magnifi’s growth in the sports media highlights sector has been fueled by the surging popularity of social media platforms, the ascent of short-form video content, and the rising demand for real-time and personalised experiences.
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
