NASSCOM Summit Highlights Digital Transformation – Reinventing the Future

NASSCOM Summit highlights digital transformation with presentations on how IoT, artificial intelligence, and machine learning, helps companies improve productivity, increase efficiency, and take cost-saving measures.

Companies, globally, are going through a change.  With digital transformation gaining traction, many companies are making an effort to go digital by using Internet of Things (IoT) and various artificial intelligence (AI) and machine learning (ML) tools.  Organizations are continually reinventing and reorganizing their enterprise processes and technology ecosystems to keep pace with the relentless shift from the physical world to the digital world.  Most organizations, today, are keen on shifting focus toward improving productivity, increasing efficiency, and taking cost-saving measures.  These companies are moving from talking about digital transformation to making it a reality.  

Companies are ready to invest heavily in analytics to understand user preferences, so they can use the data to improve their products.  This, however, gives rise to the huge amount of data that analytics tools gather – Big Data.  To make this happen on a national and an international level, global firms are working with Indian multinational.

There is talk about how digital transformation is stealing the jobs of many people, but the other side of this story reveals the sheer rise in demand for people who specialize in analytics, Big Data, AI, ML, augmented reality, virtual reality, mobile technology, robotics, blockchain, cybersecurity, 3D printing, cloud computing, and other related technologies, thus creating more job opportunities.  

NASSCOM Summit Highlights Digital Transformation

At the NASSCOM Design & Engineering Summit 2018, held on 15th & 16th Nov in Bangalore, India, many speakers presented on how digital transformation provides new opportunities to create/add value as organizations continuously monetize the initiatives on the transformation roadmap.  Some speakers also emphasized the use of various AI/ML tools and IoT to increase productivity, improve products/create newer models, and focus on outcomes.  

Rajesh Dhuddu (Global Practice Leader – Blockchain, Tech Mahindra) spoke on the convergence of blockchain, IoT, and AI.  Blockchain has been associated largely with Bitcoin crypto currency, which caters to banking and fin-tech companies.  Blockchain is, however, now slowly moving to other industries, such as manufacturing, automobiles, life sciences, etc., and is ideal for companies that work with and converge IoT, AI, ML, commerce, and smart governance.

William Ruh (CEO, GE Digital & Chief Digital Officer, General Electric, GE Digital) spoke on how mastering digital transformation requires not only a deep understanding of collaboration and integrated processes and a clear strategy, but also a shift in people's mindset.

Dominique Cerutti (Chairman and Chief Executive Officer, Altran) presented on how the world was undergoing one of its most exciting and dramatic transformation ever.  Some of the factors responsible for this transformation were – software eating the world, pervasive connectivity, really Big Data, AI, 3D printing, nanotech, blockchains, etc.  He also mentioned the four principles for a successful digital transformation:

• Define goals and establish clear governance
• Think adoption from the beginning
• Set up & plan expected commercial value
• Assemble new ecosystems for talents and solutions

Christian Moller (CTO & SVP, Kongsberg Digital) talked about how digital transformation in the energy & maritime industry is growing exponentially, with the help of digital twins, AI, and advanced data analysis, and how the key enabling technologies in this sector are changing the face of future energy & maritime.

Conclusion

The world is gearing up for explosive growth with regard to IoT.  In the not-so-distant future, IoT will have a direct impact on the global economy by transforming enterprises into digital businesses to facilitate new business models, improve efficiency, and generate new forms of revenue.