TWTW Weekly Wrap Up: 9-15 Oct

"EdTech will be the great leap into India’s digitalisation, bridging the literacy gap and developing the nation." — Jagdish Mitra, Chief Strategy Officer & Head of Growth, Tech Mahindra

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15 October, 2022

by BW Online Bureau

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Last Week’s Latest

Verisk, a global data analytics company, has created a geolocation solution for commercial and residential risk assessment, creating an inventory of commercial and residential structures using geospatial data and proprietary technology.
Vista Equity Partners has agreed to acquire KnowBe4, a publicly traded cybersecurity company, for USD 4.6 billion.
Mercedes-Benz and Microsoft announced a collaboration to use Microsoft Cloud for a data platform that would increase manufacturing efficiency at over 30 passenger car factories across the world.
Sunstone raises USD 925 million in private equity funding to support growing technology companies, with investments ranging from USD 50 million to USD 150 million in equity capital per portfolio business.
Perfect Presentation, a Saudi IT firm, is set to seek a valuation of up to USD 1 billion from a local offering.
Indian companies will maintain IT spending stable in 2022, with consumer and enterprise spending growing at 13 per cent YoY this year, down from 25.3 per cent YoY in 2021.
Indian Edtech firms spent a whopping Rs 3,500 crore to boost the learning ecosystem, teachers claim that Edtech has expanded job opportunities - Survey by India Edtech Consortium.
Sanchiconnect aims to invest USD 50 million in Indian deep-tech, facilitating investments in both early-stage and growth-stage enterprises interested in AI/ML, Blockchain, Drones, and Renewable Energy.
RBI to extensively use advanced analytics, AI/ML to analyse and improve regulatory supervision on banks and NBFCs, seeks an advantage of advanced analytics for the Department of Supervision in the central bank
UGC Chairman M Jagadesh Kumar announces the launch of a Digital University in July 2023, with the goal of teaching students in job-related skills.

Focused Story Of The Week #1: Edtech – India’s Bridge To Digital Learning

With India embracing a digital tomorrow, the Edtech industry has emerged as a global hub, thanks to its spectacular growth in recent years. According to a KPMG report, India is the world's second-largest market for online education, after the US. The National Education Policy 2020 and more than 5,000 Edtech startups coupled with the government’s initiatives and policies have made the Indian educational system more accessible and flexible towards the adoption digital learning.

A report by Technavio indicates that the Edtech market in India is predicted to increase by USD 2.28 billion from 2020 to 2025, with the market's growth momentum expected to accelerate at a CAGR of 20 per cent.

EdTech, today with the help of technology has emerged as a crucial pillar for providing students with learning programmes that not only assist them upskill but also contribute towards revolutionizing the educational system.

With millions of children and adults in India adopting digital learning, Edtech will play an imperative role in skill development and bridging the literacy gap amongst all corners of the country with an opportunity to get access to world-class content for learning and skilling at minimal or affordable costs. Furthermore, giving the startup ecosystem in India a potential environment to prosper and create jobs for educators as well.

"EdTech will be the great leap into India’s digitalisation, bridging the literacy gap and developing the nation."

Focused Story Of The Week #2: Cloud Computing – Transforming The Manufacturing Industry

Mercedes-Benz and Microsoft announced a partnership to leverage Microsoft Cloud for a data platform that would boost production efficiency at over 30 passenger vehicle facilities worldwide. Manufacturing digitalisation has enabled new levels of efficiency, with business intelligence allowing for the fine tuning and optimisation of every area of the organisation. To support a more robust and agile company, manufacturers are enhancing and frequently replacing manually generated KPIs and automating data acquisition.

Cloud-based manufacturing software provides benefits that are unattainable and more cost-effective than in-house IT for many manufacturing enterprises. This is crucial for web-based businesses that require access from any place. The advantages of implementing cloud-based manufacturing software are as follows: Access to the Most Recent Advancements Lower Initial Investment. Scalability, less reliance on in-house IT, and accessibility.

As Industry 4.0 technologies improve and security and regulatory concerns fade, the trend toward more cloud computing use will continue. Cloud-based solutions will have an influence on how factories run in terms of production, inventory management, maintenance, and scheduling. And the flexibility to modify, scale, control, and deploy in an agile and competitive manner means that a company's cloud may be personalised to fulfil specific goals and give that company's unique value to its clients.

"Cloud computing is empowering organisations worldwide, helping them leverage it to innovate cheaper and faster."