Technology is an extension of us start-ups need to come up with counter disruption strategies

S Mohini Ratna
Editor
VARINDIA

Artificial Intelligence is the future across the globe. It comes with colossal opportunities, but also threats that are difficult to predict. Whoever becomes the leader in this sphere will rule the world. Secondly, Blockchain is believed to be the next game-changer in the tech sector.

It is important to understand that disruption isn’t merely a change or evolution. Rather, it is the use of new business models to reinvent or reshape an existing business. The original inventor isn’t necessarily the disruptor. Leading through disruption and all of this will pose new challenges for leadership. Never has it been more crucial for leaders to brace themselves for change and find ways to drive it themselves, even if it means disrupting their own businesses.

Mobility has become a top priority for enterprises as it promises to drive innovation and streamline operational efficiency, besides delivering customized customer experiences. There is faster adoption of technology and creation of new services in the digital space, be it positioning your bank for a better mobile experience or putting together scalable service delivery platform for a telco. Going forward, 5G will enable organizations to move into new markets and build new revenue streams with radically new business models and use-cases.

In the financial sector, start-ups are taking advantage of new technologies to bring new businesses to market. They are helping banks to solve problems, even in thorny areas such as compliance. Banks certainly aren’t going to go out of business because of these start-ups, but they can’t ignore the changes happening in their own backyard. Going forward, they will have to think differently about how they operate and develop strategies to counter disruption with their own Fintech offerings, which means learning how start-ups work. To be responsible to their customers, banks need to be responsive to changing trends in the industry.

The recent Star Nite Awards – 2017 held in New Delhi witnessed the famous Tech Talk and 60-second Elevator speech, where the tech leaders had spoken about disruptive technologies and how they are impacting their respective organizations.

There is no denying the fact that technology is an extension of us. Today's apps will be tomorrow's digital assistants that will predict what we want, automate our requirements, and take care of all our tasks. Cybersecurity is another game-changer in the industry. Sometimes, you work defensively, blocking your opponents from sensitive information. At other times, you are working your defence, zooming past pressing cyber threats and attacks. And to stay on top of all of this, you need information – the latest from your industry.

To sum up, can we say that it is simply about the smarter way of using new technology to embed responsibility into the news gathering process.