| 50 | | 51 | SPECIAL FEATURE:TECH MAHINDRA Harnessing the tech revolution led by AI to build a more connected world A promising new world shaped by AI and emerging technologies physical environments, this technology enables enhanced simulated scenarios that cut across industries. Architects and designers can create virtual property prototypes that are not just pragmatic but also cost-effective and help in visualizing the construction better as well. Complex surgeries can now be performed in VR environments which allow the surgeon to augment their skills without causing any risk to patient safety. With both AI and AR/VR applications, most training and education programs can now be personalized, effective, and inclusive of specific needs and learning requirements for educators and students alike. More importantly, quantum could be our answer to meeting our Net Zero 2050 goals, enabling us to build green storage solutions and optimized energy generation methods. Hailed as a powerful catalyst for the digital In this ever-evolving landscape of the 21st century, we stand witness to the profound transformative power of emerging technologies and their impact on the global economy – a revolution that is being led by artificial intelligence (AI). What’s different this time is that we are no longer unfamiliar with the innovations and massive potential that AI and generative AI (GenAI), along with augmented and virtual realities (AR/VR), quantum computing bring to the table. This digital transformation is not just for enterprises across industries, but also for academia, governing institutions, and the world we inhabit – changing the status quo, and the way we live and operate. For one, look at the global banking industry, traditionally reliant on legacy technologies, that has switched to digital platforms to enable automated payments, accessibility to even the remotest corners of the world—enhancing customer trust and loyalty. Most telco enterprises are working towards becoming a “techco”—embracing transformation to enhance products, resources, and strengths. The life sciences sector has rapidly digitized with AI significantly revolutionizing drug discovery, medical device designs, clinical trials, personalized medicines, biomarker identification, and so much more. We will keep seeing a dramatic pace of change far more than we have in the past—experiencing a decades’ worth of changes in the span of a single year. This will be driven by rapid advances in AI, genomics, nanotechnology, robotics, and so on, coming together in a way that hasn’t happened before. And while these emerging technologies become the heart of enterprise transformation, we will need to broaden our technical and business expertise. This will provide us with more opportunities to nurture and build new talent and skills as well as explore more undiscovered potential for further research and development. With AI especially, we have unlocked new frontiers in productivity, creativity, and performance with GenAI and large language models (LLMs), and this is evident from the large-scale public adoption of popular applications like ChatGPT. We have seen that the need for people who understand both business and technology has increased, and this demand will not diminish in the future. There’s a lot of skepticism around AI and its implications on the future of the workforce, but these fears are unfounded. This technology is positioned to improve lives across communities in ways that wasn’t possible even a few years ago, providing ease of access to medicine, education, entertainment, healthcare, and more. The abilities of language-based AI applications can be tailored across enterprises to elevate workplace culture, customer experiences, learning and development programs, business models and strategies, and so on. In tandem, immersive technologies like AR/VR are providing ample opportunities for businesses to develop and advance their products and services. Once reliant on Mohit Joshi CEO & Managing Director, Tech Mahindra This world has always belonged to optimists who can see into the future and turn potential to opportunities that have a far-reaching impact. economy, quantum computing has the potential facilitate complex calculations that even classical computers cannot, augment logistics and supply chains, perform risk analysis, and more. While still early in its development, this technology can be useful to develop sustainability solutions that could abate gigatons of carbon emissions and help us meet the global 1.5°C target. The impact on the economy would be huge with quantum computing enabling breakthroughs across industries enabling them to become energy efficient and green in terms of operations. Now is the time for proactive, deeper engagement and dialogue amongst global leaders, scientists, policy makers, and other stakeholders to establish standards and regulations. Enterprises will need to continuously keep their strategies up to date as these technologies evolve and influence how we work, keeping in mind a wide range of use cases and scenarios. This will also mean training or retraining the workforce to navigate these technologies. For policy makers, such technologies open avenues to improve operations across myriad public services. This experience will come in handy when framing the ethical considerations of responsible use, consent, inclusivity, and public welfare. This world has always belonged to optimists who can see into the future and turn potential to opportunities that have a far-reaching impact. The practical application of these futuristic technologies in our world will lead to massive long-term sustainable growth. We are not just looking at tools for progress but driving forces that will usher in an era of sustainable development, leaving no sector untouched. Working hand in hand, we will not only harness the power of this revolution for our own benefit but also create a world that is technologically advanced and ecologically balanced. •
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