Authored by Alok Ohrie, President and Managing Director, India, Dell Technologies
At the heart of India’s challenging but ambitious goal is India’s greatest strength – its demographics. With 64% of its population below 30 years of age, India’s youth has the rare opportunity to shape the country’s destiny. Digitally conversant, with a free spirit of entrepreneurship and innovation, they form the backbone of New India.
An amplified penetration of smartphone, biometric identification system (Aadhaar), Unified Payments Interface (UPI) and Goods and Services Tax (GST) forms the perfect enablers for a digital revolution. Similarly, owing to the Government’s mass financial-inclusion program, ‘Jan-Dhan Yojana’, young adults today, have at least one digital financial account.
India’s digitization story and proof of the societal appetite to embrace technology has resulted in the establishment of one of the strongest and most innovative start-up ecosystems in the world. Investment into technology-led start-ups have multiplied in the last decade. The new millionaires of India come from new business models with technology as their core building block.
Interestingly, this is just the start. The industry scenario is about to undergo a massive transformation through the advent of 5G. The deployment of breakthrough technologies, such as Artificial Intelligence (AI), Machine Learning (ML), Automation along with the adoption of digital media, has catapulted the country’s transformational journey, making it agile and future-ready. This digital shake-up aims to build a future with extensive connected experience. 5G will be a true agent of empowering this transformation. From a connected world to an experiential world, 5G will usher in a plethora of opportunities through new business models based on Virtual Reality, Augmented reality and Internet of Things.
Customer purchasing experiences with in-store virtual reality, smart manufacturing which can change the concept of economy of scale , precision surgery reducing human error are some of the revolutionary concepts being implemented. The success of each of these will depend on the technology infrastructure. With 4G, we have seen what possibilities lie ahead. With 5G, those possibilities will turn to reality.
In this context of technological transformation, IT will be the new business. CXOs at large organizations as well as MSMEs and start-ups, will deploy these technologies across all sectors. Organizations who adopt them first, will have competitive advantage. IT will become the strategic arm of organization, enabling them to navigate this era. This digital overhaul aims to build a future with all-pervasive connected experience.
Riding the digital revolution : Focus areas
In the history of mankind, we have seen that with every such opportunity, there comes challenges. India’s tryst with digital revolution would be no less challenging. India and Indian organizations will need to address challenges on skills and consequently employment.
As the transformation of India’s economy picks up pace, the industry needs enhanced digital competencies. Investment in skills across the emerging technologies should be accorded the highest priority. Institutes or innovation labs that foster research in AI, data sciences, IOT, robotics, and other emerging technologies should look to collaborate with their peers and with the industry to bring in relevancy to their endeavor. While this is a continuously evolving space and a beginning has been made, more needs to be done on a war footing, now – to extract the highest dividend of our demography.
To accelerate their transformation journey, there are three distinct areas that the organizations should evaluate and act upon:
- Prioritize Digital Investments: Aspirational India has a bias towards decisiveness, action and lives in the moment. They expect services which are fast, responsive and easy to use. Organizations need to invest in robust IT infrastructure to enable such an experience for their customers, whose preferences are changing by the minute.
- Business model transformation: Brick and mortar companies are facing a different form of competition today. Organizations should look at their own business models to see if their own service levels are comparable to the new beast. Alteration of their business models, if needed poses a lesser risk than the risk of obsolescence.
- People & Skills: New battles in the market cannot be fought with old weapons. Organizations need to hire right, invest in existing talent to be able to ride the wave. Knowledge of application space, technology and its usage and most importantly, managing change would be crucial to success.
At Dell Technologies, we are making the most of this fast paced era. With our innovations, we bring forth technology that drives the countries’ digital dream. Our range of products and solutions are designed to help our customers realize and optimize their transformation route, while helping us realize the possibilities beyond.
With a culture of innovation, we at Dell Technologies, dare to dream big. We are at the vanguard of India’s digital future, and everything we innovate focuses on taking the nation and its citizen to the next phase of development.
Given the diversity in the country in every facet, it may not be easy to navigate the emerging digital landscape in India, but it is the prime foundation for the country’s future. Unlocking the opportunities need a more strategic approach. And, if the country is successful in accelerating its digital growth trajectory, the outcomes would be palpable to all of us.
At our Connected CIO Forum in Mumbai on September 26th, we will have conversations around our digital future and explore how you can partner with Dell Technologies to bring in Real Transformation.
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