Technology – A Full Course Meal

Anil Vishnu Vaidya

Author: Anil Vishnu Vaidya

Date: Tue, 2018-11-13 16:48

Today entire countries are being run by Technology; Estonia may be small but serves as an example to the rest of the World. The Scandinavian countries are doing the same besides many others. When Governments around the globe are trying to take advantage of the technology capabilities businesses cannot take a back-seat. They are also experimenting with it.

However it turns out to be an intriguing experience for managers and techies in businesses. In the past we always believed in specialisation and super-specialisation; that one must excel in one technology. In spite of that belief we need to realise that the technology has evolved into a full course meal. The Chef has to know and be an expert in cooking every course to offer an extraordinary experience to the diners. 

 

To start with we have connected devices that employ IoT and its solutions. The data from IoT devices needs to be stored in Big Data applications deploying Hadoop, Spark, NoSQL etc. And depending on whether data gets captured on the  internet or otherwise Cloud solutions may come into the picture. Having captured data, the next stage revolves around Analytics involving various tools of data mining and business intelligence used by Business Analytics. To top it all now we have Machine Learning and Artificial Intelligence that assists businesses in their day-to-day decisions and strategies for the future. Today new high end mobile devices embed AI & ML by default. 

It is becoming critical for business managers and techies to be aware of the full length of technologies and their business implications. We are at the confluence of business knowledge, technology and the statistical and operational tools that have developed over the past few years. We at SPJIMR, being a School of Management, have consciously adopted an approach to offer insights into these technologies. Experiential learning is the cornerstone of our education.

It is imperative that  Business Managers and Leaders gain knowledge and serve full course Tech meals to attain their business missions and visions.  

 

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Comments

I agree with your view on how technology has leapfrogged in recent years and has become the mantra for success. The ongoing 4th industrial revolution is thanks to advances in technology. The governments have understood that technology will not only help them function efficiently but also can be used for greater good. Iceland is producing 100% energy by renewable sources. Sweden is importing garbage to feed its recycling units! Technology can really do wonders. Even our Government has taken many initiatives including “Prime Minister Research Fellows” scheme with budget of Rs 1650 Cr. which will promote development through innovation. To concur with your point, business sector has not remained behind. Technology is no longer “an indispensable tool” but it has become “the way of life” for many businesses. IoT is new champion of digital world. Digitalization has paved way for progress in many business sectors. Manufacturing sector were early to pick up digitalization. Even the construction sector has found many advantages in use of digitalization. Construction companies are using 3D technology for building integration modules (BIM). This improves design accuracy. Programs like “Synchro” have gone one step further adding progress as new dimension to these 3D models. We can visualize entire project being built and monitor real time progress in virtual reality. From construction giants to individuals, technology is helping all. I share your opinion that managers must understand the importance of technology. The ones who don’t keep up with latest innovations are being left behind. We still remember CEO of Nokia ending his speech with “we didn’t do anything wrong but somehow we lost”. The managers today must have keen eye on the advances of technology to help their business prosper. I am glad to know that SPJIMR is also adopting to these developments. As a member of SPJIMR family, I wish all the success in this endeavor and hope to contribute in a way I can.

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