New Delhi. Industry experts have called for the formation of organisations that can help in future technologies like the metaverse, to make India a major hotspot for innovation and technology development in the upcoming technology era. Innovation And focus on skill development. Encouraging people to learn, adopt and understand new technologies will change the culture in organizations leading to more innovation in new technologies like Web 3.0, blockchain and metaverse.
These experts also underlined that SaaS based Startups Startups will lead future innovation in AI globally. Data will be the driving force of the future and companies will need solutions to make the most of this data to make better decisions and generate revenue. Large companies will increasingly collaborate with startups to take Indian innovation global.
These views were expressed by Sanjeev Malhotra, CEO, NASSCOM Centre of Excellence for IoT & AI, Jagdish Mitra, Chief Strategy Officer, Tech Mahindra, Rushi Bhatt, Senior Director and Head of AI, Compass IDC and Avishkar Mishra, Head of Data Science, Tracfone Wireless, in a webinar organised by technology analytics, research and consulting services company TechArc in association with IDC. Compass IDC is the overseas development centre of US-based real estate technology platform Compass Inc. which works on new generation technologies like artificial intelligence and machine learning in real estate.
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Many companies are working towards digital transformation
Sanjeev Malhotra, CEO, NASSCOM Centre of Excellence for (IoT) and (AI) said that the startup culture in India has been growing rapidly for the last few years. We are adding 10 percent startups every year and making India the third largest ecosystem in the world. There are many startups here in terms of applications, core research. But we have made a real mark on the SaaS side. Many innovations have been done in affordable health checkup, education and environment. There are companies here who are working towards digital transformation and this is a very broad area for a company to capture.
India’s IT sector is emerging as a hotspot
Rushi Bhatt, Senior Director and Head of AI at Compass IDC, said that India is poised to shape the upcoming technology era for the world and given the talent pool in the country, India’s IT and technology sector is emerging as a major hotspot for innovation and development of cutting-edge technologies. For years, India has been associated with low-end processing and outsourcing and a large amount of work is being done in the field of new technology such as Big Data Analytics, Artificial Intelligence, Machine Learning, Mobility, IoT, Blockchain, etc.
Focus on creating opportunities for digital business
Jagdish Mitra, Chief Strategy Officer and Growth Head, Tech Mahindra said that we have a strong skill base that includes engineering and software programming talent. However, there are some things that we can build further as a large number of technology-savvy mobile people are focused on creating opportunities around products, transformational solutions and technology-based digital businesses.
According to Avishkar Mishra, Data Science Head, Tracfone Wireless, talented people with the right skills and mindset are going to be very important to ensure that most people around the world adopt AI. The biggest challenge with AI is not only to advance AI research, but to actually make it practical, create practical product solutions and deliver experiences that enrich the lives of customers.
India is playing a role in advanced technologies
The event was anchored by Faisal Kavusa, founder and chief analyst of TechArc. Kavusa said that India can play a very important role in any innovation in technology or digital sector in the next decade because India’s technology talent and resources will be used to develop unique solutions. India’s role will not be limited to just basic jobs, but this country will play an important role in advanced technologies like AI, Big Tech etc.
Tags: global innovation index, in the IT sector
FIRST PUBLISHED : February 26, 2022, 21:41 IST