Technology Sector in India 2020- The New Decade Strategic Review (Techade 2020 -2030)
Research Report, Nasscom Research
The 5 Megatrends
Challenge-Asia will yield 50 % of global GDP and will become the largest consumption base for digital native, mobile first and decisive individualistic consumers.
Solution-Extreme agility will become the new norm.
Challenge-Two thirds of the world will live in urban areas and hyper local clusters will demand hyper personalization. Mass customization will be the new norm.
Solution- Edge IoT and Edge Analytics shall play a major role in saving data transmission, storage, and post-fact analysis costs.
Challenge- Climate change and urbanization will create new ecological challenges including water and food scarcity.
Solution- Technology can be used to lower the sustainability stress, and the cost of doing so, through low-cost, low-compute, decentralized, and real-time processing capabilities
Challenge- Those who tell stories rule the hearts. And those who store the data will rule the world. We have actually entered the data led economy where data has become the new oil.
Solution- As consumers gain control over their data with stricter data privacy laws, this will give rise to data barter economy.
Challenge- Well Digital and Disruption have become synonyms in our times. Workplace will get disrupted in many ways from the rise of the gig economy to the era of human machine collaboration.
Solution- Creating win-win with humans will be no more sufficient, creating win win with machines will become the new norm.
The report states, “Further, nine interconnected, rapidly evolving, high impact digital technologies- Big Data Analytics, Cloud Computing, Cybersecurity, Artificial Intelligence, Internet of Things, 3D Printing, Robotics, Blockchain, and Immersive Media can create opportunities upto USD 33 trillion”.
Finance Minister Nirmala Sitharaman has laid the foundation of the Techade in Budget 2020 and got the ball rolling by recognizing the importance of deep-tech (such as AI, IoT, 3D-printing, quantum computing, drones) in bringing about the new world order.
Achyuta Ghosh, Head, Nasscom Research says, “The next leap in technology will come from quantum computing. Govt of India has created a sub group on quantum computing in Tech group and we are working on shaping the policies and using a proactive approach to plan how government can support Indian IT industry”
Are you ready for the quantum leap?
Dr Amit Nagpal is President & Co-Founder of Bloggers Alliance, a national association of bloggers and storytellers. He has written 4 books including an Amazon bestseller. He has addressed C level executives & entrepreneurs at various international events organised by International Coach Federation, Story The Future, USA. etc
He has also conducted corporate training and consulting assignments in business storytelling for Accenture, Go Medii, Tata Communications and so on.
20 Takeaways from NASSCOM NTLF 2020 —————————————-