Tech innovations – source of economic growth

Technological innovation is considered as a major source of economic growth. We are witnessing the Industrial Revolution 4.0, that will further integrate technology at all levels in our lives, making hyper connectivity, hyper intelligence, and hyper data~ a reality.

The rapid adoption of advanced technologies such as computer vision and deep learning will push the supply chain industry forward. Countries want to get control over the data of their citizens. At the same time, enterprises will also have to focus on optimizing their energy infrastructure. This especially holds true for data centers that consume huge amounts of energy.

This implies a higher degree of co-creation between the hardware and the software to build disruptions like re-creating human senses to develop intelligent data connection, building ultra-reliable 5G communications, or paving the way for new-age storage solutions.

Truly, in line with all the forecasts, Cloud computing has become a crucial tool for businesses, the government, and consumers since the pandemic. It is not just the technology that supports digital transformation, but it also fosters creativity among ecosystem actors and teamwork among them. Cloud computing has the ability to alter the Indian economy technologically and make it more robust and inclusive as it competes to become a $1 trillion digital economy by 2026.

Cloud computing is gaining traction across industries as a result of the requirement for agility, flexibility, and speedier access to digital technology. Furthermore, the need to effectively exploit data is paramount, and organizations may do so with access to cloud-based technology. Companies are already realizing that, and it’s bringing into focus the need to handle multi-cloud connectivity.

A digital immune system harnesses observability, AI driven automation and extreme design and testing. It delivers resilient systems that mitigate operational and security risks, which will be crucial as more enterprises embrace the cloud.

At the same time, cyberattacks are going to become more sophisticated and difficult to prevent and organizations need to step away from human-created models to fully provide comprehensive cybersecurity protection.

With consumers, always seeking new ways to connect with their brands, metaverse will provide them with a new way to engage with their customers. 2023 will see marketing teams leveraging metaverse technology to engage with their target audience.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA