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Business Line, India: Senior Director at Cognizant’s Center for the Future of Work Says Digital is About Equalizing Power Structures Through Democratization of Information

“From traditional conservative companies to progressive enterprises, all are looking to leverage digital to compose their future,” writes Manish Bahl. “Over the next few years, new technologies, a changing workforce, and new consumer expectations will create significant change, opportunity and threat. It is time for leaders to understand how the future of work is already coming to life today.” Excerpts:

“AI is all set to move from consumer-focused use cases to the real enterprise world and hit us hard. If you’re not making AI your business today, AI may well put you out of business tomorrow. AI-led automation will accelerate the pace of modernization in middle- and back-office operations, thereby truly digitizing the fundamental operational blocks. Big data is an enabler for AI because it provides the necessary capacity for learning algorithms to consume data and use it to make strategic decisions.

According to IDC, IoT (the Internet of Things) in Asia Pacific is set to explode to 8.6 billion devices by 2020, growing from a current annual market of US$250 billion to US$583 billion in 2020. We are at the cusp of an IoT-driven revolution as it will produce a tectonic shift in the way we live, work, and run businesses.

The IoT is still evolving when it comes to standardization, and presents data privacy and security risks. IT departments and CIOs/CISOs who have not kept up with security standards in the region will fall behind in ways that will be nearly impossible to make up in the dynamic digital security landscape.

Automation is a disruptive force that is transforming every industry. Machines will certainly assume charge of certain rote and repeatable tasks that can be automated, but in the future, as today, human skills that require constructive thinking (such as teaching, creating art, performing R&D and comforting patients) will always be in demand. Innovation, leadership and strategic thinking will also be critical and can’t be replaced with robot technology. Instead, people working in tandem with machines can enable greater efficiencies than those achieved by individuals alone.

Digital is inherently collaborative and is about equalizing power structures through the democratization of information. Collaboration is not about platforms or technology; it is really about engaging people in a shared journey that can transform the business from the bottom up and break down internal silos. Organizations need to acquire and nurture the skills that are required today and also fit tomorrow’s needs.

By making wise decisions about how to embrace technology, Indian companies can expand business and increase ROI — but only if there is clarity on why the digital path was chosen in the first place. Digitization is an enabler of more efficiency, productivity and profitability, and to master the digital world, an organization needs to be firm in its mission, focused on the user experience, and flexible when overcoming the inevitable missteps that occur along the way. In fact, the fear around digital signals a tremendous opportunity for business leaders to innovate and change technology perceptions.”

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