5 Megatrends for the Techade
Technology Sector in India 2020- The New Decade Strategic Review (Techade 2020 -2030)
Research Report, Nasscom Research
Robots
in every upper class colony, smart devices in every home and office, clothes
connected to the internet, self driving cars on every road and wearable devices
in every third hand. The next decade looks somewhat like this and India will
occupy the centrestage in the new Tech world. Exciting. Isn’t it?
Nasscom Research, the thought leadership
arm of NASSCOM focuses on understanding and predicting future opportunities for
Indian tech industry, highlights Indian tech innovation stories and closely
tracks Indian tech industry performance.
It releases 30-40
reports every year on a range of topics from future of work to deep tech, from
tech startups ecosystem to digital transformation, from enterprise tech to industry
tracking & forecasting and from technology trends to performance metrics.
NASSCOM Research, released its
report on the strategic review of the techade at the 28th NASSCOM
Technology and Leadership Forum.
The most interesting part of the report is the 5 Mega Trends.
Read full report here
The 5 Megatrends
- Asian Economic Eminence- China
and India will join USA and become members of Elite Club (world’s top 3
economies)
Challenge-Asia will yield 50 % of global GDP
and will become the largest consumption base for digital native, mobile first
and decisive individualistic consumers.
Solution-Extreme agility will become the new
norm.
- Mass Urbanization and
Hyper-Personalization-
Challenge-Two thirds of the world will live in
urban areas and hyper local clusters will demand hyper personalization. Mass
customization will be the new norm.
Solution- Edge IoT and Edge Analytics shall
play a major role in saving data transmission, storage, and post-fact analysis
costs.
- Environmental Sustainability
Stress
Challenge- Climate change and urbanization
will create new ecological challenges including water and food scarcity.
Solution- Technology can be used to lower the
sustainability stress, and the cost of doing so, through low-cost, low-compute,
decentralized, and real-time processing capabilities
- Data-Led Economy
Challenge- Those who tell stories rule the
hearts. And those who store the data will rule the world. We have actually
entered the data led economy where data has become the new oil.
Solution- As consumers gain control over their
data with stricter data privacy laws, this will give rise to data barter
economy.
- Disrupted Future of Work
Challenge- Well Digital and Disruption have
become synonyms in our times. Workplace will get disrupted in many ways from
the rise of the gig economy to the era of human machine collaboration.
Solution- Creating win-win with humans will be
no more sufficient, creating win win with machines will become the new norm.
The report states, “Further,
nine interconnected, rapidly evolving, high impact digital technologies- Big
Data Analytics, Cloud Computing, Cybersecurity, Artificial Intelligence,
Internet of Things, 3D Printing, Robotics, Blockchain, and Immersive Media can
create opportunities upto USD 33 trillion”.
The time for Alvin Toffler’s
Future shock has arrived. Not only the rate of technological change will become
really fast and conspicuous, the world will drastically change over the next 10
years.
While NASSCOM announced that the
new decade (2020-2030) deserves to be called “techade” as technology will
dominate, NASSCOM President Debjani Ghsoh went one step further and announced,
“It’s imperative to ensure its India’s decade or Techade”. While US and Europe
may lead in technology research, India will become the playground for
implementation of technologies like AI.
Finance Minister Nirmala Sitharaman has laid the
foundation of the Techade in Budget 2020 and got the ball rolling by
recognizing the importance of deep-tech (such as AI, IoT, 3D-printing, quantum
computing, drones) in bringing about the new world order.
Achyuta Ghosh, Head, Nasscom Research says, "The next leap in technology will come from quantum computing. Govt of India has created a sub group on quantum computing in Tech group and we are working on shaping the policies and using a proactive approach to plan how government can support Indian IT industry"
Are you ready for the quantum leap?
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Brief Profile
Related Posts
Achyuta Ghosh, Head, Nasscom Research says, "The next leap in technology will come from quantum computing. Govt of India has created a sub group on quantum computing in Tech group and we are working on shaping the policies and using a proactive approach to plan how government can support Indian IT industry"
Are you ready for the quantum leap?
-------------------------
Brief Profile
Dr Amit Nagpal is President & Co-Founder of Bloggers Alliance, a national association of bloggers and storytellers. He has written 4 books including an Amazon bestseller. He has addressed C level executives & entrepreneurs at various international events organised by International Coach Federation, Story The Future, USA. etc
He has also conducted corporate training and consulting assignments in business storytelling for Accenture, Go Medii, Tata Communications and so on.
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