Disruptive technologies, such as IoT (internet of things) and artificial intelligence, are all poised to change the face of the industry and therefore industrialists should familiarise themselves with the latest technological advances and make use of them judiciously, according to IT experts.

They expressed the view at the inaugural of a two-day seminar on the impact of disruptive technologies on the industry, organised by the Confederation of Indian Industry (Andhra Pradesh) here on Friday.

J S R K Prasad, Chairman of CII (AP), said it would require a great deal of intelligence and resilience besides adaptability to make use of these technologies. The apprehensions that they would reduce jobs may not be well-founded, as new jobs are generated. He said 65 per cent of the start-ups were in the field of IoT.

G S Shiv Kumar, convener of the CII seminar, said new digital business models would have to be created and it was possible to solve many problems through these technologies. It was also a mistake to assume that the technologies were meant only for the bigger units and they could be, and should be, made use of by the MSMEs as well.

C V D Ramprasad, Director of the Software Technology Park of India (STPI), said his organisation would lend full support to start-ups in these emerging fields.

Ashok Kannan, Deputy General Manager (SBI), said the bank would lend financial support to the industry in adopting the technologies and SBI itself was making use of these technologies to create new banking models to serve the customers better.

Joyjeet Bose, Vice-President, Tata Tele Services Ltd, explained the applications of IoT and artificial intelligence in different fields.

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