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TWTW Weekly Wrap Up: 1-7 January, 2023
"5G will play a key role in the evolution of how India does business across several industries." — Jagdish Mitra, Chief Strategy Officer & Head of Growth, Tech Mahindra
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Last Week’s Latest
- Microsoft Corp is in the works to launch a version of its search engine Bing, using the artificial intelligence behind OpenAI-launched chatbot ChatGPT.
- TELUS Corporation and TELUS International announced the completion of the previously announced acquisition of WillowTree, having met all closing conditions and regulatory approvals.
- RateGain Travel Technologies Ltd has announced it is acquiring Adara, a leader in data collection and management in the travel and hospitality space, for USD 16 million.
- Ericsson scales up production in India to cater for 5G network deployments.
- SolarEdge Technologies said it will acquire the entire share capital of Hark Systems Ltd., a UK-based Software as a Service (SaaS) Internet of Things (IoT) platform.
- Chitkara University has announced its partnership with ServiceNow, a digital workflow company, to train students in digital skills and improve job prospects.
- Microsoft Chairman and CEO Satya Nadella on Wednesday highlighted the importance of driving inclusivity and empowerment through technology and economic growth and asserted that the company is "very committed to India"
- India's Nexus Venture Partners is in advanced talks to raise a USD 700 million fund, the second-biggest such pool to be garnered in the country in the past year, to invest in domestic and US-based technology firms.
- SRAM & MRAM Group, a UK-based conglomerate, has announced its commitment to support 100 Indian start-ups through funding, mentoring, industry network, and its deep experience of working in the global start-up ecosystem
- US-Japan to strengthen cybersecurity cooperation; memorandum was signed in Washington by US Secretary of Homeland Security Alejandro Mayorkas and Japan's Minister of Economy, Trade, and Industry Yasutoshi Nishimura.
Focused Story Of The Week #1: 5G – A Catalyst For Change And Development In India
Humans are constantly striving for the greatest, the fastest, and the largest. Following the already-existing 2G, 3G, and 4G standards is the most recent mobile communications standard, 5G. It is the gold standard in communications, allowing users to download material from the internet significantly more quickly. The potential for 5G networks to provide socioeconomic benefit is great. Global sales activity from 5G networks is predicted to reach USD 13.2 trillion by 2035.
Applications for 5G networks include manufacturing, social, economic, healthcare, education, and agriculture. Through 5G networks, more people will have access to the internet, which will encourage innovation and improve service quality.
Despite all of its advantages, there are still problems to be solved. Rural areas might require additional attention in the form of building more transmission towers and antennas to increase network coverage, as well as more funding to fully utilise 5G. In order to manage the increased capacity provided by the 5G network, existing towers also need to be updated. Furthermore, concerns over security and privacy are still very present.
That being said, as technology advances and the aforementioned issues are resolved, 5G will have a significant impact on the economy and, with the Internet of Things' acceleration, it will further the fourth industrial revolution. The sensors and control units installed in facilities, machinery, and logistics chains throughout industries would greatly benefit from its quick and dependable real-time data sharing.
"5G will play a key role in the evolution of how India does business across several industries."
Focused Story Of The Week #2: Cybersecurity – The Need Of The Hour
Organisations are expected to spend a total of USD 188.3 billion on information security and risk management products and services by 2023 as a result of increased threat from ransomware, phishing attacks, malware, and other cybersecurity breaches as a result of risks and uncertainties experienced during Covid-19, such as hybrid workforce and supply chain risk.
As the globe becomes more dependent on technology and digital assets, the cybersecurity industry is anticipated to reach USD 403 billion by 2027, rising at a CAGR of 12.5 per cent, providing a global potential for startups to expand and flourish in the cybersecurity market.
In the fight against hackers, the integration of AI/ML and cloud is crucial in boosting cybersecurity for enterprises across industries and business categories. While machine learning (ML) helps computers understand these patterns in order to effectively stop and protect against cybercriminals, artificial intelligence (AI) helps computers discover odd usage patterns. On the other side, it is anticipated that by 2023, cloud security will increase security spending by 11.3 per cent.
It is realistic to assume that cybersecurity will soon be adopted by a rising number of organisations worldwide, leading to improved data and infrastructure protection. Cybersecurity is currently expanding and improving at a rapid rate, and numerous solutions are being given to corporations.
"For businesses of the future to be secure and sustainable, it will be crucial to build and invest in a strong cybersecurity infrastructure."