Kochi is hosting #FUTURE, Kerala’s first-ever Global Digital Summit, which will be inaugurated by Chief Minister Pinarayi Vijayan today. Express gets top honchos of Indian IT to share what it means for Kerala
‘We are at the start of the 4th industrial revolution’
Kris Gopalakrishnan co-founder of Infosys and chairman of Axilor Ventures
Disruptions create opportunities for new businesses to be formed, new jobs to be created and new wealth to be generated. We are at the start of one such disruption – some call this the fourth industrial revolution.It is driven by technologies like cloud, mobile, IoT, Artificial Intelligence/Machine Learning, big data etc. We can efficiently combine cyber, physical and biological systems for the first time. Wearable devices and AI/ML-based diagnostics will change healthcare. AI/ML combined with mobile technology is transforming banking and financial services.
Every business and all aspects of our lives will be transformed by the adoption of these technologies. The introduction of digital computers in the 1950s unleashed the digital revolution which transformed businesses and our lives. In India, we were able to create the IT industry which today has revenues of $168 billion and employs 4 million people. It forms 7-8 per cent of our GDP and 20 per cent of our exports.
Over the next 30-40 years, the fourth industrial revolution can create $200-300 billion of GDP growth. India has to take advantage of these opportunities to create new businesses and jobs. What did we do to fuel the IT revolution in India? India got its first digital computer on par with the rest of the world in 1955; the Indian Statistical Institute got its computer made by the British Tabulating Machine Company Ltd.IITs started courses in computer science in the late 60s and early 70s. This allowed us to create the required professionals and leadership. IBM, which was the dominant computer company in the world, withdrew from India in 1977. This vacuum allowed other digital computer manufacturers to enter India as well as trigger the first wave of entrepreneurship in India. Businesses like TCS, Infosys, HCL, Wipro were created during this period.
The government also actively supported the industry by creating the Software Technology Policy and along with states creating software technology parks. The Government also announced tax incentives for software exports which allowed the industry to invest in developing manpower, improve quality systems, invest in world-class physical and technical infrastructure.The government also allowed academic institutions to increase the number of engineering graduates from 400,000 to 1.5 million. All these combined with the increased investments in IT around the world fuelled the growth of a world-class IT industry in India.
We have to repeat these, but not by duplicating the same steps. All these actors have roles to play, but each will have to do different things. For example, the academic institutions will have to teach the technologies and techniques of the 4th industrial revolution, including the new computer languages like Python and Ruby.AI/ML must be taught like software programming was taught for a large number of students. Governments will have to promote a wave of new business creation since it is the new business that adopts new technologies, innovates and creates new products and services. IT professionals will have to upgrade their skills to stay relevant.
Kerala is ideally poised to take full advantage of this opportunity. It has IT professionals who understand the new technologies. A new wave of entrepreneurs is creating businesses that leverage cloud, mobile, IoT, AI/ML and big data technologies and that can disrupt all business sectors.The Kerala government is actively embracing these technologies for its own use and to provide better services to its citizens. The Global Digital Summit itself is an attempt to bring awareness of the opportunities and accelerate the business velocity in the state.
Technology paving the way for the #FUTURE
S D Shibulal co-founder of Infosys and Axilor Ventures and chairman of HPIC
Today, technology is all pervasive. We feel like fish out of water when we are separated from our smart devices, or when the Wi-Fi stops functioning. A spate of innovations have ensured that our lives are becoming progressively simpler as technology takes over mundane tasks; and even those that require a reasonable degree of intelligence. Futurists have predicted some exciting and somewhat unnerving visions for the future of machines, that either enhance or replace activities and products that we are presently comfortable with.
The latest among the new gizmos, for instance Alexa or Google Home, do a number of activities on voice command which include calling people, playing music and reminding you of your appointments for the day. Use of voice is becoming more and more prevalent and this will change the way we interact with the world. Traditional interfaces like keyboard and mouse will be replaced by voice interface. In times to come, we can ‘order’ our passport and driving licence from the comfort of our home. Moreover, we can do it in any local language.
The advent of artificial intelligence and machine learning will transform image analytics, especially in the field of healthcare. X-rays, MRI scans, ECG etc will first get analysed by the computers. The doctor will only need to validate the results. Moreover, healthcare records of patients will be digitally available which can be accessed at the click of a button. Many of the mundane things done by the doctors and nurses will be taken over by the machine which includes conducting blood tests, and also alerting doctors if there are significant changes in the patients’ vital parameters. Healthcare will be more accessible and affordable in the future.
Transportation of the future will be quicker and more cost effective. It is going to transcend the barriers of planets. Interplanetary travel to habitable places in the space cannot be ruled out. New age companies are redefining boundaries with space travel. Space holiday will be feasible by the year 2050. Driverless cars, hyperloop and magnetic levitation trains are already here. India perhaps will be the first country to get a hyperloop train which will get you from Mumbai to Pune in just 21 minutes, at 800 km per hour. In times to come, these forms of travel will be the order of the day.
In the midst of these developments, Kerala is uniquely placed. The state’s young, literate, tech-savvy workforce can bring great demographic dividends. A young workforce means having more innovative minds who are able to better use technology to increase efficiency. The Government of Kerala is taking the necessary steps to aid the transformation of Kerala. However, this requires the participation of all stakeholders as this makeover is the responsibility of the whole society. In this respect, #FUTURE summit will provide an ideal platform for Malayalees from all walks of life to interact with the best global minds. This may be the first step towards some path-breaking innovations from the young minds of God’s Own Country.