It would be an understatement to say that technology has disrupted the business landscape. Every aspect of modern organizations today—how they create, communicate, transact and serve—is shaped by technologies that were far beyond the wildest dreams of business leaders a couple of decades ago. To paraphrase Bill Gates, technology and business have become so inextricably interwoven that you can’t really talk meaningfully about one without talking about the other.
The digital juggernaut is one of the best examples of this fact. With Indian consumers increasingly going online to browse and buy goods and services, everyone, from small businesses to solid old state-run corporations, is investing heavily in mobile, web and social platforms to give their users an end-to-end digital experience. At the back-end, too, things have become quite complex, with disruptions like the Internet of Things (IoT), Big Data Analytics and Cloud Storage, the risks posed by increasingly sophisticated cyber-attacks, and workplace trends like distributed teams and a mobile workforce, increasing the dependence of enterprises on technology.
This makes it extremely important for Indian organisations to build the necessary technological capabilities either in-house or through an external vendor/technology partner. So what are the top technology trends that Indian CIOs and business leaders need to prepare for in the coming years? Here’s our list.
The Internet of Things (IoT) to become more pervasive
Once upon a time, hardware used to be just that; now, it is incomplete without software that gives it a brain of sorts. And we’re not just talking about cars, televisions and watches—from footwear to refrigerators and household inverters, nearly everything around us is getting smarter. According to Gartner, the number of ‘connected things’ worldwide will touch 8.4 billion in 2017, up 31% from 2016, and this figure will cross 20 billion by 2020. This makes IoT one of the top trends to watch. We have seen some industry applications of this lately. One such instance is where the B2B arm of Airtel implemented a sophisticated IoT-based solution that enabled Luminous to roll out a new line of ‘smart inverters’. The device can collect and analyse data, and send valuable real-time performance and maintenance updates to customers through a mobile app