India is harnessing digital opportunities amidst the global pandemic
Corporate | 2 min READ           
This article was originally published in TechGig - Source link
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How? - By painting a picture of the digital economy landscape and highlighting the importance of holistic data utilisation and AI efforts in India. To create a competitive advantage for itself, India needs to be viewed as the global hub for innovation. COVID-19 has forced many around the world to rethink their daily lives from work to school to business. The era of change, adaptability and great new developments has begun; albeit keeping in mind all precautionary measures to imbibe the theory of what is being termed as ‘The New Normal.’
Sangram Kadam

Vice President and Business Head (APAC & META)

Birlasoft

 
As we overcome the global pandemic, it is very important for us to act collaboratively and make the nation and our industries self-reliant. In the long run, the economic challenges to becoming self-reliant are primarily related to our manufacturing, and infrastructure sectors. Modernisation of these sectors is a must to speed up productivity. This must also be accompanied by tech investments across them. It is time to re-invent us as a destination for innovative solutions that support engineering design, and create hubs supporting local innovations at different levels. The Indian Government is also supporting the industry by bringing in initiatives like Make in India and Aatmanirbhar Bharat.
As India advances digitally, its ripples can be felt across various areas including e-payments, e-health, digital literacy, farming, financial inclusion, geographic mapping, rural development, social benefits programmes and language localization.
 
Similarly, enterprises too have integrated technology into their businesses. However, digitalizing enterprises is not merely integrating new technologies or modernizing the existing ones but leveraging technologies such as AI, ML, Big Data and Advanced Analytics to become digitally transformed.
For enterprises to be competitively ahead in the ecosystem, it is required from them to offer services and experiences better than its competition to help meet customer demands. Customers expect performance, responsiveness, authenticity, and consistency in messaging.
With the adoption of AI, ML, Cloud Computing, Blockchain, 3D Printing, Cyber Security and similar new-age technologies, Birlasoft enables enterprises to transform experiences, processes and business models through digital technologies to deliver differentiated value to its internal and external stakeholders and take their business on the path of non-linear growth.
 
Indian businesses believe that they are facing major impediments to digital transformation today. Few of the top barriers are data privacy and cybersecurity, lack of right in-house skill sets, regulations or legislative changes and weak digital governance, among others.
The SME sector in India has always been a key growth driver for its economy. According to a report by Ernst & Young (EY), the sector is expected to contribute up to 22 percent to the nation’s GDP by 2020. Small and Medium Enterprises (SME) account for 45 percent of the country’s manufacturing output and employ 40 percent of its workforce.
Artificial intelligence is being infused at exponential speed into the world around us. As a country, we are in a race to harness these new technologies to spur growth and competitiveness. We stand at a critical juncture to put these technologies to work in a responsible way.
 
India today, is at an interesting inflection point where technology is redefining business models. At the wake of COVID-19, India has woken up into an intelligent world. We are at a crucial intersection, where humankind, businesses and technology can create a better and productive world.
 
 
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