Adapt The Change & Quest For More
Rajeev Gupta, Group CIO, Airone Aviation Group
Adapt to the Change and Quest for More - These two are industry Guru Mantras and the universal truth that have been the key factors to a successful Business.
Every organization wants to be successful, every CXO wants their job to be safe and every company wants their products to be a brand.
So, to be on a successful journey, we must adopt to the change.The technology has always been a key player for a successful transformation in men, material and money. Today this technology driven change is called a Digital Transformation.
The Digital Transformation concept is being adopted at a rapid pace. Several technology driven Companies like Google, Facebook and many more are in the list of top 500 companies whereas several companies those were in top 500 are no more in the list today. The companies who did not adapt to the change, they diminished. The true example is Kodak Films.
Today, Industries are using several new technologies like Social Media Engineering, Mobility, Analytics and Cloud to adapt to rapid change. The innovations using 5G are giving a big hope because of internet speed and availability for industry 4.0 growth and everyone is gearing up for adapting new business applications.
The manufacturing industry is innovating with the use of IOT and Robots in its production process to improve speed and quality with reducing cost. The supply chain industry is relying on GPS assisted delivery for accuracy and speed. The Drones are expected to take delivery industry to a new height, the security and people privacy concerns have still been looming large and everyone is looking forward for the solutions.
The E-commerce platform is making waves using social media, big data and analytics with the help of ML and AI. Serving through video calls would be a reality in banking and many other financial sectors. Blockchain & big data will enable real-time information gathering for risk and reward analysis. Wearable devices would bring in a new customer experience and cheers to the entertainment industry in several ways like reducing queues and finding your dear ones in the crowd.
Use of Machine learning and Artificial Intelligence in Analytics would prove to be a big boon for industries dealing with large volumes of data and Big Data. Virtual reality and Augmented Reality are another trend setting technologies where a customer can experience the product before making a buying decision.
The Management’s active participation from top has always been a success mantra in the implementation of any technology project. The clear communication of vision and mission help its employees contribute more from their side.
The skill gap in transition phase, a core concern of every industry can always be reduced by implementing process and procedures using a knowledge portal. Gig-economy, work from home and 24x7 office availability, with virtual desks are other rising trend in the market that would reduce average travel time and costs.
Everyone needs to change for more, using digital.