The next 5 years in technology will transform India much more than what cell phones & smartphones did in last 15 years.
The impact of technology on Indian as well as Global economy has been humongous and there is an un-denying fact that this revolution has made us all live in an IT obsessed world. It has enabled people to live a happy life while in turn giving back some of the best minds to the society. Yes, I’m also talking about Elon Musk here.
When it comes to exploring and experimenting with emerging technology, the Indian IT market has a mix of companies that are intrepid while other companies need a motivational push. Companies like PayTM in e-commerce and banking, Nestaway in real estate, Practo in medical services have disrupted because they did not wait for the innovation to happen.
These companies have adapted the following system:
At first, they started with finding digital technologies that disrupt; then they expanded well beyond that. The main focus has been on developing the core functions enabled by technology. All of these and more is to make it a piece of cake for the end-users. The more time & cost efficient the business is, the more will be the adaptation. And India has, without question, made the largest technological breakthrough making it the most attractive destinations for investors throughout the world.
From Aadhar Card Act to UPI to BFSI disruption in last 10-15 years, let us see what future technology holds for India in next 5 years.
The rise and the rise of blockchain – Blockchain has finally paved its way in 2017 as one of the incredibly disruptive entity rather than just being the backbone for Bitcoin since 2008. Blockchain is a decentralised system that can be a faster, cheaper and a safer way for global transactions.
There are few banks like ICICI who have already invested and done a blockchain transaction where as Kotak Mahindra Bank are theoretically convinced of the advantages of this upcoming technology.
India has also seen some early adopter of Bitcoins and while we are only digesting it, you will not be surprised when few sectors like real estate, transportation (where transactions are huge) will agree to Bitcoins as an accepted transaction soon.
IoT coupled with Big Data and Analytics will change the business models of many sectors – These technologies have a staggering impact on various industries that can change the face of any nation. Using sensors and connectivity, IoT will help in building advanced asset utilization system which can easily locate and maintain the machineries, tools and equipments.
What is evident as well as exciting is these IoT-enabled devices have become an integral part of our life. And IoT security, which was earlier ignored has been a major business concern lately.
Many still feel India has been laidback in building the Facebook or WhatsApp of India. I support the statement to an extent. What I think is the breakthroughs will happen only once the mental shift happens. Businesses that still stick to ‘let us do it the way it happens’ will face fierce competition in next few years, and they might as well get thrown out of the market. It is not the fancy leapfrog jump that these businesses will have to take; but just an open mind to be a front runner in creating the trends.
Trescon is exploring ways how businesses can be benefitted by the upcoming technology trends by hosting some of the best Indian and international CIOs on 14-15 June 2017 at JW Marriot in Mumbai. In this Sixth Edition #BigCIOShow, Trescon’s goal is to empower businesses that can discover innovative ways for adapting digital transformation which suits their businesses the best.
Experts of IoT, Big Data and Blockchain will have a lightning talk on the topics mentioned below:
- Exploring where IoT is driving real results, to real people, in real businesses
- How and where is IoT enabling smarter business operations and smart decision making?
- In what ways, can IoT enable innovation and drive real business transformation and remake your industry?
- Developing new business models and propositions to engage with the customer or consumer and collaborate with key verticals,
- Impact of IoT across the value chain.
With this show in Mumbai, Trescon plans to re-envision business models & embrace a way of using technology that bridge people, data, and processes ultimately bring together and empowering businesses with exciting possibilities.
For more information about the show, participating speakers and agenda, visit bigcioshow.com. To book tickets, visit Big CIO Tickets. Explore Sponsorship opportunities at Sponsor Big CIO Show
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