An atmosphere of economic gloom seems to have caught everyone’s attention over the last 4-5 years. All of us have been busy witnessing it, discussing it and trying to recover from it.
But I believe what history will remember this era for is not the global financial meltdown or economic turbulence, but as an era of technology-led transformation.
It will be remembered for the impact of exciting technologies including cloud computing, big data, anticipatory computing, Internet of things (IoT), augmented reality, unfettered bandwidth, social computing, smart devices which changed and are changing the world we live in. Forever.
Look at the explosion in the number of devices, ever since the advent of iPhone in 2007 revolutionised several industries. The numbers of mobile phones have just crossed the 6-billion mark, and in 2013, more than one billion smart devices are expected to be sold globally.
Landlines have connected 500 million people together. Mobile phones have connected over 6 billion people together. IoT will connect 50 billion devices together in the next few years.
Power of tech
Let me illustrate the power of these technologies, by painting a scenario that will be enabled by IoT as an example. As you open your intelligent refrigerator in the evening, it will tell you that you have two food items inside with expiry date today. It then recommends which of them you should eat, since it knows your calorie target and what you consumed thus far. It will then send a recipe that you like to your intelligent microwave. You just need to move the food item from refrigerator to microwave and later take it out of the microwave and eat it, cooked to perfection.
Therefore, as we sail into a New Year, the one prediction I can make with confidence is that technology will become even more central and critical to everything we do. Every industry, every process, every business paradigm is being re-imagined, re-defined and re-engineered. Its use is not limited to just the enterprise; it is impacting our personal and social lives as well as the communities and societies we live in.
innovation
Look at enormous opportunities that IT Industry will have building exciting applications, mobile apps and services. Intelligent objects everywhere, providing insights into inventory, supply chain, warehouses, transportation, customer visits, behaviour, likes, dislikes, health status, vital parameters etc.
Acceleration of innovation coupled with shrinking adoption cycles means that with the right investments in capabilities, technologies and solutions ahead of the curve, the Indian IT industry will be able to shape the future of the industry.
IT industry needs to raise its game to be effective in such a fast evolving climate. Organisations need to be able to not just collaborate but co-create. Instead of delegation, we must create democratised organisations and lastly create a culture of empowerment through engagement not only for our employees but all stakeholders.
For consumers and for businesses involved with technology - creating, innovating, building, using technology to make lives better for customers, there is no better and exciting times than now and in future. Let us shape the future.
(The writer is CEO and MD of Tata Consultancy Services)