Embrace transformative technology for a better and stronger 2022
From fintech to green technologies, companies across all industries are embracing transformative technologies to develop relevant solutions, reach underserved people, and align with sustainability goals.
By Alok Ohrie
This year has been a year of decline, of restructuring, of rebuilding for the better. Technology investments have intensified, a multitude of multi-cloud and hybrid cloud technologies have proliferated, and a plethora of AI, blockchain and data solutions have started to enter the market. India is now among the top two countries in the world for digital adoption, with the digital transformation market expected to reach $ 710 billion by 2024, with a CAGR of 74.7% from the rate of global growth of 16.5%. From fintech to green technologies, companies across all industries are embracing transformative technologies to develop relevant solutions, reach underserved people, and align with sustainability goals.
Recent global efforts to fight the pandemic have demonstrated that technology can play a vital role in healthcare. Data and AI hold particular promise with the potential to predict epidemics, enable remote diagnostics and precision treatment, and accelerate drug discovery. Supported by technology deployments, the healthcare sector in India is showing strong growth of over 16% CAGR and is expected to reach $ 372 billion by 2022. Digital healthcare solutions span a wide range, from cloud-connected field diagnostic devices to assisted AI cancer detection, from bio-designed artificial corneas to bionic prosthetic arms 3D printed and integrated with sensors. NASSCOM estimates that data-driven and AI-driven transformation would contribute $ 25 billion to $ 30 billion by 2025.
India’s agricultural sector, valued at $ 276.37 billion in FY20, has attracted $ 190 million in agritech investment. More than 1,300 agricultural startups in the country are using AI, blockchain and data-driven technology to increase productivity, connect with the market, forecast the weather and help agricultural production through automation. India now ranks third in terms of agri-tech funding and number of startups, and the market is expected to reach $ 30-35 billion by 2025.
Education technology, or edtech, is transforming the education landscape in India. Since students were forced to continue learning at home, interest in online courses has increased dramatically, with an 83% increase in subscribers from March 2020. Confidence in online education line also increased, which quadrupled funding. Collaborative cloud-based tools, MOOCs, assessment and scoring platforms have become the norm rather than a luxury. AI-assisted adaptive learning solutions, blended learning models, gamification, and spaced repetition are fast adopters into the new normal in education. The sector has recorded investments of more than $ 4 billion since 2020.
At Dell Technologies, we believe the new year will reveal smarter technologies, calling for a greater role for data, accelerated innovation and technology adoption. The proliferation of new technologies will require greater flexibility of cloud and device platforms, so local IoT and data management devices will need to be delivered as software-defined packages. Business adoption of 5G will accelerate in 2022, as more modern, higher-performance versions of 5G become available. A large infrastructure including the edge, private mobility, data management and security is likely to emerge.
With increased digital adoption and connectivity, more sophisticated threats have emerged. Security will remain a concern for the industry, and new paradigms will come into play to mitigate some of these risks. We will move from automated threat detection to prevention and response with initiatives such as SOAR (Security Orchestration Automation & Response), CSPM (Cloud Security Posture Management) and XDR (Extended, Detection and Response).
The auto industry will continue to transform on several fronts, moving from a mechanical ecosystem to a data and computing industry, as well as from internal combustion engines to electrified vehicles. Software and computer content in automobiles will continue to grow at a rapid rate, with advanced driver assistance systems (ADAS) and autonomous vehicles becoming a reality. Dell Technologies is engaged with many of the world’s leading automotive companies, and we expect the industry to move ever faster towards rapid digital transformation in the coming year.
Demand from IT customers will be strong and will continue to grow in all areas. Our record quarterly performance this year indicates that Dell Technologies has been able to meet this growing demand and deliver technology solutions for a rapidly evolving digital ecosystem. We envision a world where humans take advantage of technology to achieve meaningful results efficiently and quickly. We will continue to drive innovation through digital transformation, facilitating the path to increased productivity and economic prosperity.
The author is President and CEO of Dell Technologies India
Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.