The
world of Systems is evolving at a very rapid pace. In today’s world, where
computers have become as ubiquitous as televisions, Information Technology
plays a critical role in an organization. Today’s business does not accommodate
a trade-off between scale and flexibility but demands synergies from both.
Systems Continuum explores different aspects of Information Technology and
Information Systems in business by initiating and conducting discussions on
cutting-edge topics. It provides a forum for the exchange of ideas on the
latest developments in the field of Systems and IT. Each Systems Continuum
consists of a series of events centered on a particular theme. Eminent speakers
from industry and students of management converge for a day-long event where myriad
aspect across sectors are explored by initiating discussions on issues at the
forefront of the industry leaders.
Systems
Continuum 2016
The
Systems Continuum 2016 organized on 20th August, 2016 with a theme
which is necessary to understand how technological innovation is going to
transform the way we live, work and communicate. The Systems Continuum 2016 saw
a series of lectures centered on the theme:
“Future trends in IT - Challenges,
Implications and Roadmap”
The
world of Systems and IT has undergone a dramatic transition from being a
utility provider to an enabler of business model transformation over the years.
The rate of change is accelerating fast and traditional models of IT
infrastructure in organizations will have to adapt to these changes to stay
alive. They will have to be reinvented to reboot the global economy with a
stronger focus on sustainability. The advancements in the field of cloud,
artificial intelligence, big data, SMAC, IoT and other upcoming technologies
are redefining the way IT operates.
Speakers
The
following speakers delivered lectures at the Systems Continuum 2016:
Ø Mr. Rajat
Nigam - Group Chief Technology Officer at Network18
Media & Investments Ltd.
Ø Mr. Ashwin
Jaiswal - Head - IT Business Consulting at Reliance
Communications
Ø Mr. Raju
Wadalkar - Head of Innovation at Tech Mahindra
Ø Mr. Lalit
Singla - Director, IT at Optum Global Solution of
UnitedHealth Group
Ø Mr. Sumit
Rajwade - Vice President of Technology at Rediff.com
India Limited
Ø Dr. Divakar
Kamath - Head of Communications Sector (Telecom,
Media& Entertainment, Energy & Utilities) India/South Asia at IBM
India Private Limited
Subthemes
for Systems Continuum 2016
Indicated
below are the suggestive and non-restrictive sub-themes for the seminar:
1.
The Rise of
Artificial Intelligence and Its Integration with Big Data
With
the increase in storage capacity, computing power, accessible software, shared
knowledge and technology advances over the past 60 years, we've witnessed the
rise of Artificial Intelligence into smart applications called Personal
Assistants. How soon until we make another leap into the world of Artificial
General Intelligence, where machines can learn and interact in real time and
pass the Turning test? How soon will machines work side by side with humans to
solve complex problems, reduce costs and make the world a better place? True
artificial intelligence could be integrated into mainstream society sooner than
we think.
Big
data is a big business, but trawling through hundreds of gigabytes of often
unstructured information can be a lengthy and resource-sapping process. Rather
than relying on data analysts to come up with patterns and predictions based on
samples taken from vast reams of diverse data, AI can crunch an entire set of
big data and use algorithms to come up with accurate and tailored results.
The
rise of the truly intelligent machines may be some way off, but there's no
doubt smart machines and systems are going to play an ever-increasing role in
the way enterprises function.
2.
Applications of
Virtual and Augmented Reality in driving new businesses
While
Augmented Reality (AR) and Virtual Reality (VR) technology used to conjure up
images of sci-fi films, these days the trend is visible in everyday life.
Marketers are using the technology more and more: Jaguar Land Rover’s Virtual
Experience allowed customers to engage and interact with an almost life-size
high resolution of any Jaguar or Land Rover vehicle. Users can take a 360
degree interior and exterior view, even opening doors and starting the ignition.
There
are various tech trends to expect with regards to AR, as various industries are
expected to adopt the technology in their mobile way of processing in the
office. Below are some of the future trends to expect in AR and VR:
• Availability of budget-friendly VR
handsets
• Marketing solutions using AR
• More retailers using augmented reality
for online shopping
• For virtual vacations and test driving
• Increase in AR applications for mobile
devices
• VR will be a built-in feature on mobile
devices
3.
Digitalization and
the digital business are catalysts for driving better customer experience
“Digital
business” has become the mantra of many top companies as they seek competitive
advantage in a world of fast moving technological change. Technology is essential
to the customer experience, especially as the expectations of consumers and
corporate customers continue to rise.
Many
companies are creating a single view of their customers, complemented by
seamless multi-channel sales and support capabilities. Together, these allow a
customer to do business on their preferred channel (or channels), while
enabling companies to take advantage of every customer interaction.
Also,
companies are increasing the value of their customer interactions. By going
beyond traditional broadcast venues and one-way websites to use social media
and Web 2.0 tools to connect and engage with customers, companies are gaining
increased insights into wants and behaviours. In turn, they are using this
information to increase share of wallet and average customer revenues. It also
improves the reach and effectiveness of word-of-mouth advertising and
effectively creates a new sales channel using their customers
4.
The increased use of
Computing Machines in Decision Making is extending into the realm of financial
choices with increasing consistency
The
emergence of Digital Business has sparked a shift in the relationship between
man and machine. Because the machines are now more connected than ever before,
they have an increased ability to supplement human jobs and to reduce the cost
of operations. This has extended into the realm of financial choices with
increasing consistency. This makes one begin to think about how many of the
economic decisions we make will be supported by, then automated through,
digital technologies.
Consider
the following examples of applications that are being developed and deployed:
• Automated financial advisors and
planners that assist users in making financial decisions.
• Digital and wealth management advisory
services
• Smart wallets that monitor and learn
users’ habits and needs and alert and coach Users
• Insurance underwriting AI systems
• Data-driven AI applications for lending
decisions
• Applications, embedded in end-user
devices, personal robots, and financial institution servers that are capable of
analyzing massive volumes of information, providing customized financial
advice, calculations and forecasts
• Automated agents that assist the user in
determining insurance needs
• Trusted financial social networks that
allow the user to find other users who are willing to pool their money, and to
share in investments
5.
Importance of
Security and Privacy in businesses driven by Cloud Technologies
With
more organizations using Cloud computing and associated cloud providers for
data operations, proper security in these and other potentially vulnerable
areas have become a priority for organizations contracting with a cloud
computing provider.
Cloud
customers may risk losing data by having them locked into proprietary formats
and may lose control over their data since the tools for monitoring who is
using them or who can view them are not always provided to the customers. Data
loss is, therefore, a potentially real risk in some specific deployments.
Cloud
computing security processes should address the security controls the cloud
provider will incorporate to maintain the customer's data security, privacy and
compliance with necessary regulations. The processes will also likely include a
business continuity and data backup plan in the case of a cloud security
breach.
6.
Digital payment
ecosystem and businesses driven by IT
The
stage of connectivity is driving digital payments transformation – the
migration of cash payments and plastic card payments to payments made over
digital channels, either from dematerialized cards held on digital wallets or
in the cloud, or from new digital payment mechanisms.
• Cash and card payments total about three
trillion transactions a year globally
• Transactions worth US$13 trillion in aggregate
is a huge opportunity
• Banks in India spend a total of 21,000
crore INR in currency operations costs annually
• Large unorganised sectors, black money,
persistent exclusion of millions from formal financial services, loss of
revenue on account of evasion of taxes and poor transmission of monetary policy
As
digital ecosystems grow, both consumers and merchants are demanding payment
mechanisms relevant to the way they interact within them.
7.
Implication of
Internet of things (IoT) in future businesses
The
concept of connecting any device with an on and off switch to the Internet (and/or
to each other).
What
it offers?
• It will allow companies to make smarter
products
• Enable smarter business operations and
smarter decisions
• Change in business model
The
big question: Is it a blessing?
8.
Impact of Make in
India on Indian IT/Telecom industries
Devised
to transform India into a global design and manufacturing hub, Make in India
was a timely response to a critical situation: by 2013, the much-hyped emerging
markets bubble had burst, and India’s growth rate had fallen to its lowest
level in a decade.
• According to a NASSCOM projection, IT
exports will grow 12-14 percent to reach $110-112 billion and the domestic
market by 15-17 percent to touch $55-57 billion by March 31, 2016. Currency
volatility, however, impacted the operating margins of exporting firms, including
the global software majors.
• On the software services front, IT
bellwethers Tata Consultancy Services (TCS), Cognizant, Infosys, Wipro and HCL
were able to grow their revenue by 5-10 percent year-on-year despite the global
technology spend declining in 2015
• Start-ups and Digital India dominated IT
industry landscape
• Software services and exports to post
12-14 percent growth
• Geeks develop new applications for
internet users & verticals
• NASSCOM to incubate 10,000 starts-ups by
2020
• Karnataka declares start-up policy, sets
up two warehouses
• Digital India to benefit traditional and
new-age companies
• IT bellwethers spur export growth
despite cuts in tech spend
9.
The increasing
importance of Sustainable Growth in shaping today’s IT Industry
One
fundamental question that plagues countless small businesses: How to grow and
keep the business going?
Maybe
you're not gaining enough customer traction, or maybe you've hit a wall and
sales are flat. In any case, the plan just doesn't seem to be working, at least
not as you hoped it would.
While
companies develop and execute comprehensive sustainability strategies with a
range of stakeholders and business partners across their ecosystem and even
across industries, the success of sustainability-driven revenue growth
strategies ultimately depends on how well a company serves the needs of end
markets and specific customers. Sustainable growth is among the biggest
challenges any business leader faces, but it isn't a new problem. It is no
longer a practice done for legal or charitable reasons, it's a growth strategy.
What
does it take to achieve Sustainable Growth? How often does one need to revisit
his strategy, depending upon how hot and volatile your market is?
10.Open
source: An opportunity or threat to software industry
Open
source is undeniably one of the hot topics in tech discussions. Ever since
Linus Torvalds started to create a new free operating system kernel, Linux,
back in 1991 as a personal project, open source has not only been a development
methodology but more importantly also a cultural phenomenon. Linux showed the
world at large that a new way of working where co-creation, volunteerism,
meritocracy and other such non-traditional approaches can produce something
powerful. Examples of open source products include Open Office, Mozilla
Firefox, Wikipedia, the GNU/Linux operating system and Android. It has
contributed amazing tools like Ushahidi.com to the world. But does it pose a
threat to traditional software vendors and proprietary systems?
Open
source is generally free and continually evolving in real time as developers
add to it and modify it, which means it can be of better quality and more
secure and less prone to bugs than proprietary systems. There may also be less
support available. Although having an open system means that there are many
people identifying bugs and fixing them, it also means that malicious users can
potentially view it and exploit any vulnerabilities.
Open
source being a threat or opportunity to the software industry is a debatable
topic. Small and medium industries can benefit from the use of open source but
cannot get the security and trust of doing business with proprietary software
vendor. Is it possible for Open Source to someday win everything in IT
infrastructure or are the proprietary companies here to stay?
11.Is
healthcare sector poised to embrace cloud computing?
Cloud
services are becoming more widespread with each passing day and many industries
are benefitting from the immense resources and scope that cloud services
provides. Cloud-based services are steadily becoming more widely adopted by
healthcare organizations. According to a survey by HiMSS in 2014, 83 percent of
IT healthcare executives said that they’re currently using cloud services for
things such as hosting clinical and human resources (HR) applications, and for
backup and disaster recovery. Additionally, the market for cloud computing in
healthcare is expected to reach $9.48 billion by 2020.
In
India, technology will be a game changer in the manner in which healthcare
services will be delivered. Cost-effective cloud-based solutions are expected
to drive increased adoption of hospital management information systems (HMIS)
and electronic medical records (EMRs). The various benefits that can be
derived, such as easy accessibility irrespective of geographical location,
fewer errors, and fast response in times of emergencies, patient convenience,
among others, will drive increased adoption.
The
question that remains is how fast the healthcare industry can ride the wave of
these technological advancements and cloud services. There are immense benefits
of the use of Cloud in healthcare but can the industry leaders adapt to the
fast changes? Privacy and security of patient data will always remain a concern
for the industry.
12.Cyber
security strategies to address rapidly evolving business needs and threats
Cyber
security is about protecting your computer-based equipment and information from
unintended or unauthorized access, change, theft or destruction.
The
understanding of the need for cybersecurity with businesses of all sizes and in
all industries, is becoming increasingly evident. All anyone needs to do is
listen to the news or attend a business conference or a corporate training and
it becomes clear that leaders in the business world are concerned about threats
to the security of their data and operational systems.
The
different types of cyber-crimes and the top 20 cybercrime prone countries are
shown below.
Because
of the increase of cybercrimes year on year the amount of monetary damage is
also increasing which is shown below.
13.Beyond
pure-play hardware and software: towards embedded systems
If
we look around, we will find ourselves to be surrounded by computing systems.
Every year millions of computing systems are built destined for desktop
computers (Personal Computers, workstations, mainframes and servers) but
surprisingly, billions of computing systems are built every year embedded
within larger electronic devices and still goes unnoticed. Any device running
on electric power either already has computing system or will soon have
computing system embedded in it.
As
interest in the Internet of Things and mobile devices continues to grow,
companies are recognizing the value of embedded systems to collect data and
control machinery. From software in cars and trucks to mobile medical devices
and home appliances like refrigerators and even toothbrushes, embedded
applications are permeating our world. But before they hit the market, someone
needs to manage these embedded application development projects. The main
challenges in embedded systems design are to build predictable systems, and
that to build robust systems. With an enterprise application, you're primarily
worried about functionality and a little bit about performance. With an
embedded application, you're interested in real-time performance, where if the
device doesn't meet a particular time requirement, it breaks.
14.Mobility
as the focal point of the channel strategy for banks
Mobility
is transforming every aspect of the financial services enterprise. It's safe to
say mobile is no longer an emerging channel. Almost every bank has a basic
mobile offering, and many offer services such as mobile RDC and bill pay.
But
the mobile world is constantly evolving, as are consumer expectations. As
people become more comfortable conducting their lives on a mobile device, they
expect their bank's services and offerings will continue to meet those
expectations. But it's not just about rolling out new mobile services; mobile
affects the ways employees at all levels do their job, and presents challenges
for IT departments who need to secure sensitive company data on personal
devices.
Mobile
also is disrupting financial services by creating opportunities for
non-traditional competitors. Below are the statistics of the customers who use
mobile for the banking operations.
15.Harnessing
the Power of Social Media and Web Analytics for business growth
Measuring
the impact of social media on your bottom line is one of the most pressing
challenges that marketers have when they first dive into their data. Without
clear social media goals and KPIs, analysts find themselves spending hours in
front of the screen scratching their heads and asking “where do I start?
On
today’s crowded Web, the winners are the people who create the most value for
both the customer and the business over time. And value happens not when people
buy your product but when they use it and love it. Not when they upload a
video, but when someone else watches it.
The
traffic from social media is has been surpassing the other traffic in the
recent years.
Social
analytics helps in predicting current and future market demand for your product
and, as a result, assists with reliable financial forecasting. While enabling
fact-based decision-making about marketing campaigns, sales forecasts and
pricing, social analytics gives you the information to make real-time
adjustments to strategies as required.
