Express News Service
In the year 2018, the most discussed subject in the Indian technology landscape was the use and adoption of digital technologies. However, in 2019, digital is moving on from discussions to applications. There is no set definition for digital technologies, broadly understood as a collective of emerging sciences like artificial intelligence (AI), data analytics, automation, machine learning, virtual reality, augmented reality, cloud computing among others.
These technologies are already on the way to become ubiquitous in all walks of life and in all sectors, not the least of which are banking, healthcare, education, transport, communication, shopping, entertainment among others, say industry representatives.“Technology advancements, driven by AI and Cloud Computing will dominate 2019 in redefining enterprise competitive advantage and create a base for future enterprise progression. AI will play a key role in solving enterprise challenges… and is on an accelerated path to being ubiquitous and is getting seamlessly integrated with everyday lives of end users,” noted Jai Ganesh, senior vice president and Head of NextLabs at Mphasis.
With digital becoming omnipresent, Indian IT services companies like Infosys, TCS, Wipro have already invested heavily in creating the capability to tap these opportunities. In 2018, these IT giants acquired companies which are specialized players in these fields and expect the investments to yield results. Mid-sized Indian IT firms like MindTree, Mphasis, Persistent Systems have also capitalised on the opportunity.
“Growth will be sustainable in the short term. In the longer term, vendors need to prepare for the impact that automation and the rapid growth of artificial intelligence and machine learning will have on the space they operate in,” pointed out Hansa Iyengar, Senior Analyst – Advanced Digital Services at Ovum.
The adoption of digital technologies will also result in a shift in skills needed for employment. Experts say that one of the major HR tools companies will utilise in 2019 will be to equip their workforce with new skills to increase productivity. The industry will see a shift in job roles from software engineers to specialised roles like data analysts, cloud architects and cybersecurity experts.
“Starting in 2019, AI-related job creation will cross into positive territory, reaching two million net-new jobs in 2025. AI will improve productivity of many jobs, eliminating millions of middle and low-level positions, but also creating millions more new positions…,” added Kapil Sharma, Chief Sales Officer of Collabera India.
Oracle predicts that by 2025, productivity gains delivered by AI and augmented experiences could be as high as 50 per cent of today’s operations. A recent Oracle survey of international senior decision-makers showed that 42 per cent were already looking to AI technology to improve efficiency.
“We believe automation will start to permeate throughout business, with 70 per cent of IT functions completely automated, enabling companies to refocus teams from the billions of work hours spent performing routine and even mundane IT tasks and instead on innovation and business development,” says Shailender Kumar, Regional Managing Director, Oracle India.
Ai jobs impact to turn positive
Experts believe that in 2019, artificial intelligence will begin creating more jobs than it eliminates. Collabera says that AI-related job creation will be a net 2 million in 2019
Cybersecurity, Fintech also in focus
2019 is also likely to see focus on cybersecurity as internet penetration and digital transactions grow. Another booming area in 2019 in the country would be the fintech sector. “In 2019, fintech will continue to disrupt the market. Financial services will reach the masses and begin to make an impact on the real India. Artificial intelligence, deep data analytics, and robo-advisory will be the key to the next level of growth in fintech. Innovation and speed to market will continue to be the game changers,” said Upasana Taku, co-founder, MobiKwik.