The Immediate Past Chairman of NASSCOM, Mr B.V.R. Mohan Reddy had some interesting ideas to share, during his opening address at the NASSCOM Big Data & Analytics Summit.
Huge amounts of data sharing and its subsequent usage is not restricted to boardrooms alone, anymore. It has moved way beyond the realms, and can be seen in the proliferation of devices like Fit Bit, Apple watches, wearables and the like. These devices being in physical contact, are able to relay online real time data which reveals so much about individuals, and can then be monitored remotely. From spending habits to heartbeats, nothing really is outside its purview.
Data is omnipresent and ubiquitous. This also exposes the risk of being hacked. The torrid case of Ashley Madison in recent times, is one such example that sent shockwaves across the world as privacy was severely breached. Such disastrous consequences, also help bolster existing systems, and give rise to best practices on how data ought to be used.
Artificial Intelligence is making rapid progress and breakthrough algorithms are clearly ruling the roost. All this would mean that many existing jobs (and occupations too) would dry up, only to make way for new opportunities. This brings in a different set of challenges for employers, one of pressing need to communicate the significance of big data in faster and more accurate decision making.
The other challenge is around talent of course. The culture would need to be different, as do the skills required to thrive in such an environment. Org structures too would have to undergo rapid shifts accordingly. To ensure that learning never stops, communication is very important. That, the organisation is on its journey to create uniqueness.