Connectivity is increasing every day technology could create ways to a smarter world

S Mohini Ratna
Editor,
VARINDIA

Connectivity is increasing day by day. A question is: can we leverage strengths readily available in the market to our advantage? It is an absolute fact that now companies have been deploying sensors in machines and wearable devices to use the computing capability available today to make sense of the data. 

The digital universe, which is witnessing growth of 40% a year, is expanding to include not only the increasing number of people and enterprises doing everything online, but also all the “things” – smart devices – connected to the Internet, unleashing a new wave of opportunities for businesses and people around the world. When it comes to digital data, one needs to use very secured software to make their personal data secured, otherwise photos, conversations, health information or finances cannot remain private. 

Secondly, a recent analysis by PwC suggests that the expected Indian market size in lending through P2P platforms alone will be $5 billion. There will be an opportunity to use the online digital payments channel to deliver credit to ensure that collection of payments also happens faster. In fact, millennials, as one of the most dynamic consumer segments, will be keen to build their internet profiles to build creditworthiness and not just Tinderworthiness. These creditworthy internet consumers will demand recognition and credit. Be ready to deliver.   

A strong belief in technology will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere. Hence, big tech companies have been actively buying AI startups, not just to acquire technology or clients but to secure qualified talent. Artificial intelligence is a hot market for tech, with many companies using it to power services such as digital voice assistants like Siri or Alexa. 

Tech giants and digital native companies such as Amazon, Apple, Baidu, and Google are investing billions of dollars in artificial intelligence for their own applications, such as optimizing searches and personalizing marketing. A  firm belief in AI can deliver significant competitive advantages by providing better forecasts for their supply chain and design better offerings, but only for firms that are fully committed to it. 

Amazon has achieved impressive results from its $775-million acquisition of Kiva, a robotics company that has automated picking and packing. Netflix has also achieved impressive results from the algorithm it uses to personalize recommendations to its 100 million subscribers worldwide. Now, Alibaba has announced to invest $15 billion over the next three years in "cutting-edge technology", including quantum computing and artificial intelligence. 

As the digital landscape makes room for more users, the same would be the favourite haunt for cybercriminals who are always on the prowl.