“When technologies like artificial intelligence, internet of things, Blockchain, cybersecurity and 5G come together, that is when real disruption takes place and innovation happens,” said Deepak Lalan Associate Director and Lead – Blockchain Practice, Accenture Advanced Technology Centers in India (ATCI).
Speaking at RACE360, an emerging tech conference organised by REVA University in Bengaluru, Lalan, along with 30+ senior industry leaders, touched upon themes of adoption of emerging tech in modern businesses for innovation and efficiency. Lalan also brought out interesting use cases from various sectors like healthcare, supply chain and autonomous cars where these key technologies converged today.
Accenture's @deepaklalan has an insightful comment on why India is yet to catch-up in R&D of emerging tech "Indians are the best problem-solvers. No one can come up with innovative solutions like we can. The only thing we're yet to learn is asking the right questions" #RACE360 pic.twitter.com/FtCZZXq7eE
— Analytics India Magazine (@Analyticsindiam) August 28, 2019
The event, held earlier this week, saw the participation of over 350+ mid-level and senior industry leaders, along with 100+ delegates. Its key themes were artificial intelligence, cybersecurity and Blockchain.
Sameer Dhanrajani, the chief strategy officer at Fractal Analytics, spoke on the topic ‘Reimagining decision-making in the AI era’. He said that experience-backed intuition will decrease to just 10% by 2027 in comparison to 58% in 2017. “Algorithmic decisions will go up to almost 50% from just 5% today. He added, “The importance of algorithms is such that there will be a rise of the ‘algorithm economy’ in the coming years. Algorithm economy will consist of millions of algorithms; each one representing a piece of software code that solves a business problem or creates a new opportunity.”
RACE360 was inaugurated by REVA University chancellor Dr P Shyama Raju, Terralogic CEO Renil Komitla, SAP Labs MD Dilip Khandelwal, and Data Security Council of India CEO Rama Vedashree, among others.
Speaking at the keynote session on the topic ‘Emerging technologies for business transformation’, Khandelwal spoke about how rapidly new technologies are disrupting both the large and small organisations. He added that this was one of the reasons why companies like SAP are working together with smaller organisations to create solutions, than products, by harnessing the power of data and technology. “What one builds today will be obsolete in 12 to 18 months. Interaction with customers on a day-to-day basis will keep technology up to date,” he added.
The event was well-curated and keynote sessions, knowledge tracks and panel discussions. There was also an invite-only CHRO dialogue on adopting analytics for HR. There were other crowd-winning sessions like a workshop on Computer Vision with AI and a live hackathon using Cyber-range as a simulator.