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BW Businessworld

Ready, Tech, Go Into 2017

There are however two stumbling blocks - Brexit and the election of Trump. In my view, the industry is well positioned to ride over any such storm

Photo Credit : ShutterStock

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Let us look at the bright side of 2016. After very many years, we have practical application of several technologies in any one year. Take Amazon Go, it combines the computer vision, artificial intelligence through advanced algorithms and machine learning through sensor technology in automating intensive manual operations of the retail industry. If you add their robotics in warehouse handling, it becomes a colossal growth. In a generic fashion, Agile has become mainstream winning the support and confidence of all stakeholders- C-Level down and technologist to business managers. It has given confidence in terms of certainty of accomplishment than anything we have known till now.

Like Agile, Digital too became pervasive. Take India's instance of demonetization- it has become a reality because of the digital infrastructure that is present. The retail payment infrastructure in India is one of the largest and most efficient in the world. In India even smaller players have taken to new technologies and have become pioneers- Indusind launching the Digital branch and City Union Bank creating the robot for servicing quite ahead of others.

It was fashionable some time ago to speak of Smart City. It is now Smart Homes. Philips who is a leader in this space has even divested its medical technology business to focus exclusively on the smart technologies. Amazon with its Echo using the natural language processing and integrating with a host of smart technology providers has enabled control of most infrastructure at home within or without it.

The enablers in this have been the telecom infrastructure, cloud technologies and tiny microprocessors. They will now have to spruce up their security and capability to handle volumes larger than they might have anticipated. It is very similar to the digital payment infrastructure in India seeing spurts in their traffic after the announcement of demonetization- anywhere from 10 to 100 times.

What could be up next? Many might have heard of tele medicine. It is still struggling to grow. Remote surgery may take off- it would fit well with the immigration constraints imposed by most countries. Business-to-consumer segment may take lead in smart applications too.

There are however two stumbling blocks - Brexit and the election of Trump. In my view, the industry is well positioned to ride over any such storm.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Brexit donald trump amazon city union bank opinion

P. Venkatesh

The author is Director - Platforms and Solutions, Maveric Systems

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