Tag: Views

World Earth Day | A green global supply chain with a circular economy is the need of the hour

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Historically, business impact on the environment was never a focal point in the earlier industrial revolutions. The First and Second Industrial Revolutions propelled society forward with their emphasis on mechanisation, steam power, electricity and mass products. These advancements prioritised economic growth and industrial progress over environmental considerations.

However, as societies evolved and became more aware of environmental issues, subsequent industrial revolutions started to consider the impact to varying degrees. In recent times, especially with the rise of the Fourth Industrial Revolution, which integrates digital technologies and automation, there has been a growing emphasis on green and sustainable business practices across the value chain.

The World Economic Forum’s report from 2019 highlights the alarming growth of e-waste, with an estimated 50 million tonnes generated annually globally. Annually, nearly $62.5 billion of valuable materials in electronic devices contribute to this e-waste stream. Currently, only a fifth of e-waste is recycled worldwide, with projections indicating a surge to 74.7 million tonnes by 2030. But countries across the world are taking cognisance of these concerning figures.

For instance, France is leading by example with pioneering efforts to combat electronic waste. The country’s National Assembly has passed legislation to introduce a repairability index for electrical and electronic products, aiming to increase repair rates by 60% within five years. This index will empower consumers by providing information on the repairability of the products they purchase.

But with the impending brevities caused by the lack of eco-friendly interventions, the circular economy as a whole is an important action item that should no longer be limited to the enterprise itself. Bringing forth initiatives to address electronic waste should encompass collaboration across the entire supply chain, engaging upstream and downstream partners to foster shared value and drive societal benefits. We are already adhering to the approach of integrating supplier sustainability performance into our procurement assessments and opting for companies who are members of organisations like the Responsible Business Alliance (RBA) to uphold environmental standards throughout the supply chain while also prioritising workplace inclusion and safety that enhances business resilience.

Interestingly, studies and industrialists agree that on an economic front, transitioning to a circular economy for the electronics segment is pivotal. It is integral to adopt forward-looking and proactive climate actions, including incorporating renewable energy as part of business strategies, improving product energy efficiency with software and hardware R&D capabilities, and driving low-carbon manufacturing transformation of the supply chain. This not only helps in making operations optimised and greener, but also generates an opportunity for businesses to foray into the untapped markets like building on the R&D capabilities and sustainable business interventions.

Enterprises should work towards actively pursuing sustainability as a practice in their supply chain operations. Most companies are still unable to identify all the sources that contribute to upstream emissions. An approach that intersects the areas of clear approach and strategic collaboration should be forged to reach defined sustainability goals and to set forth a course to a more sustainable future. This involves adopting eco-friendly packaging and production materials, waste reduction initiatives, and prioritising diversity and inclusion practices and safe workplaces. Implementing these changes often demands a reassessment of organisational strategies and forging new collaborations.

Embracing a circular economy isn’t solely beneficial for the environment; it also serves customers’ interests. Consider the case of laptops: prioritising remediable design alongside the use of recycled materials can yield cost-effective products with prolonged usability, enhancing overall value for customers. Additionally, there is a sense of gratification in making a positive contribution to the environment.

We are living in an era where consumers are also becoming increasingly conscious about the products they are using. They are willing to opt for solutions that are driven by the thought of reducing the impact on the environment and contributing to efforts that help in reducing climate change. Enhancing sustainability through the adoption of circular economy practices is imperative for companies globally as they strive to meet ambitious decarbonisation goals. With strategic interventions and a proactive call to action, these objectives can be easily achieved.

— Eric Ou is Country Head, and President and Director of ASUS India

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Digital Hygiene: Finding peace of mind in backing up data

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Imagine waking up one day and realising that all your files — cherished family photos, important documents, or work files — have been erased due to some glitch in the matrix! Didn’t like that picture, did you? In today’s digitally driven world, our lives are increasingly intertwined with the data we create, store, and share, and our digital footprint holds immense value. Yet, how often do we stop to think about the fragility of this digital existence? A hardware failure, a cyberattack, or even a simple human error can lead to devastating data loss, leaving us scrambling to recover precious memories or facing the consequences of professional setbacks. As per a study by Western Digital titled ‘Understanding Data Storage Habits of PC Users in India’, more than half (52%) of the respondents have lost their data, at least once, in their lifetime.

This is where World Backup Day (March 31) served a timely reminder that digital hygiene is essential. Just like we brush our teeth and wash our hands to maintain physical well-being, regularly backing up our digital assets is crucial for protecting ourselves in the online world. It’s about practicing preventive care for our data, helping ensure its safety and accessibility, and ultimately, finding peace of mind.

Fortunately, finding peace of mind through proper backup is easier than you might think.

Here are some key steps to get started:

Identify what matters

Start by understanding what data is most valuable to you. This could include personal documents, financial records, photos, videos, work files, and anything else that would be irreplaceable if lost.

Choose a Backup Solution

Today, a wide range of backup options are available. Cloud storage services offer convenient and automatic backups, while external hard drives provide more local control. Choose a solution that fits your needs and budget. It is advisable to follow the 3-2-1 backup strategy — that is to have three copies of your data on two different types of media with one copy stored off-site for disaster recovery. Let’s use your family photos as an example. The first copy is your original file and stays on the original storage device, The second copy is then backed up to a different type of storage solution like a a portable HDD. Lastly, you want an offsite copy, so you upload your third copy of your family photos to your preferred cloud storage provider.

Portable HDDs offer up to 5TB of storage for simple, cost-effective backups and desktop drives offers up to 22TB of storage.

Implement a Backup Schedule

Don’t wait for disaster to strike! Establish a regular backup schedule, whether it is daily, weekly, or monthly, depending on the frequency of your data changes.

Automate the Process

Automation is your friend. Most backup solutions offer automatic scheduling, ensuring consistent backups without manual intervention.

Test Your Backups

Regularly test your backups to ensure they are functioning properly and accessible when needed. This is a crucial step to avoid having a false sense of security.

Go Beyond the Basics

Consider additional security measures like encryption to help protect your data from unauthorized access, especially for sensitive information.

Remember, backup is an ongoing process, not a one-time event. As your digital life evolves, so should your backup strategy. Regularly review your needs, adjust your schedule, and consider including new data sources as needed.

By prioritising digital hygiene and implementing a robust backup plan, you’re not just protecting your data; you’re investing in peace of mind. World Backup Day is a reminder that taking action today can prevent tomorrow’s heartache. So, take control of your digital well-being and embrace the confidence that comes with knowing your valuable data is safe.

Together, let’s create a world where data loss is a thing of the past and peace of mind is the digital norm.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Data-Driven Design: How analytics help optimise flexible workspace utilisation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The rapidly evolving landscape of modern work has opened up fresh avenues for employers and employees alike to reimagine the concept of the office and our interactions with it. Gone are the days of static office layouts; today’s workspaces demand dynamic, data-driven design strategies. As the demand for flexible workspaces continues to grow, data analytics plays a pivotal role in helping businesses navigate this evolving landscape and assess workspace utilisation. According to a report by Salesforce in partnership with YouGov, 8 in 10 business leaders believe that data is critical in decision-making at their organisation, and 78% agree that data helps reduce uncertainty while making more accurate decisions in business conversations.

In the present age of hybrid work, organisations are increasingly recognising the value of flexibility. The integration of data-driven insights has become a crucial driver for making decisions that align with the needs of the workforce. By doing so businesses can gain valuable insights into employee behaviour, and areas that may be underutilised.

One of the key benefits of employing data analytics in flexible workspace management is resource planning. By harnessing data, businesses can identify peak usage hours, facilitating better scheduling of shared resources such as meeting rooms, collaboration spaces, and amenities. This will not only enhance operational efficiency but also minimise the risk of conflicts over resource availability. Moreover, the streamlined process of workflow optimisation becomes apparent as businesses analyse movement patterns, identifying bottlenecks and optimising the flow of work within the workspace.

This data-driven approach to workspace design also places employee experience at the forefront. By analysing employee preferences, movement patterns, and collaboration trends, businesses and enterprises can tailor the workspace to meet the unique needs of their workforce. In case the data indicates a preference for collaborative work, it can lead to the incorporation of more open spaces and communal areas. A need for focused, individual work, can facilitate the creation of designated quiet zones. This level of customisation ensures that the workspace aligns with employee expectations, ultimately contributing to job satisfaction and productivity.

The beauty of data-driven design lies in its adaptability to changing work trends. As the nature of work continues to evolve, driven by factors such as technological advancements, cultural shifts, and global events, the requirements of flexible workspaces undergo constant transformation. Data analytics enables businesses to stay ahead of these changes by providing real-time insights into emerging trends.

Today, data-driven design is not just a trend but a necessity in the world of flexible workspaces. Businesses that leverage data analytics in their decision-making are better positioned to create future-ready work environments. From optimising space utilisation to enhancing the employee experience, the benefits of data-driven design are far-reaching. As we navigate the complexities of the modern work landscape, one thing is clear – the future of flexible workspaces is being shaped by the power of data analytics. Those who embrace this transformation will not only stay ahead of the curve but also foster a culture of innovation and efficiency within their organisations.

— Karan Virwani is the CEO of WeWork India.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

View | The evolving need of gamers: Meeting the demands of a growing industry

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The gaming industry has experienced exponential growth in recent years. In India alone, the number of online gamers reached a staggering 421 million in 2022, marking an 8% growth over the previous year. This figure is projected to rise to over 442 million by the end of 2023, illustrating the significant and sustained expansion of the gaming market. According to a survey conducted by HP India, 67% of respondents believe that personal computers (PCs) offer a superior gaming experience compared to smartphones.

The gaming industry’s rapid evolution is a testament to its immense popularity and the ever-evolving needs of gamers. Gamers today are seeking more immersive experiences and as players continue to demand more realistic graphics, enhanced performance, and seamless connectivity, game developers and hardware manufacturers are compelled to innovate and push technological boundaries.

Immersive Experience: Pushing the Boundaries of Hardware

Today’s players are no longer content with choosing between high refresh rate or high resolution. The demanding nature of the audience is pushing game developers to deliver game assets with never-before-seen fidelity that pushes the boundary of game-engine optimisation.

Ray Tracing is one such groundbreaking innovation, introducing more realistic lighting effects and reflections in games, elevating the visual experience. Even traditionally less graphics-intensive games like Minecraft have undergone a profound transformation with the implementation of Ray Tracing. However, this advancement necessitated the introduction of a new generation of GPUs due to the demanding nature of the technology. Intel Arc GPUs feature hardware-level ray tracing units which enables games to enjoy the benefits of ray tracing in games that support it. Thanks to the Xe Cores which are the new foundational compute building blocks in Intel Arc graphics and Xe Super Sampling (XeSS), an AI accelerated method for upscaling, gamers can now enjoy high resolution, high frame rate gaming, even with Ray Tracing enabled.

As gamers have evolved from being “just gamers” to “gamers and streamers” and now “mega taskers” the CPU has kept pace accordingly. Intel’s performance hybrid architecture enables gamers to experience smoother gameplay with faster load times and enhanced frame rates, while simultaneously allowing stream encoding and broadcast in high quality without losing out on gaming performance. This is achieved thanks to the magic of Intel Thread Director which provides runtime feedback to the OS and helps it make the optimal thread scheduling decision for any workload — so for example, in this case specifically, the game threads can get assigned to the Performance-core (P-cores) which are designed for raw speed while all the encoding threads can get offloaded to the Efficient-cores (E-cores) which are ideal for scalable, multi-threaded performance.

Lastly, there are also the new generation gaming engines like Unreal Engine 5 which have raised the minimum specifications for gaming devices even further. This powerful engine provides developers with unprecedented creative freedom, enabling them to create visually stunning and hyper-realistic virtual worlds. As a result, gamers will require increasingly powerful hardware to fully enjoy and experience these visually demanding games. As per Steam’s latest hardware survey, we are seeing an increase in the adoption of GPUs with more than 8GB VRAM.

Also Read: Tencent chief says gaming business under threat, catching up in AI

Connectivity: Redefining the Gaming Experience

Today, gaming has evolved into a highly social activity, with multiplayer and competitive gameplay becoming increasingly popular. To top it off, gamers are no longer willing to be “tethered” to a cable, with many preferring to play over their home’s Wi-Fi network. This requires robust, high-speed and low-latency connectivity to ensure a good quality experience. Additionally, the growing popularity of streaming platforms, such as Twitch and YouTube Gaming, has further emphasised the need for stable and fast internet connections, as gamers seek to share their experiences with a global audience. With the advent of Wi-Fi 6/6e, Gamers now can play and stream over their Wi-Fi networks, without having to worry about increased latency. In addition to lower latency, Wi-Fi 6E also brings much higher streaming bandwidth than Wi-Fi 5.

The introduction of the Thunderbolt 4 technology has also had a significant impact on the way gamers interact with their gaming setups. Thunderbolt has provided gamers, content creators, and professionals with a powerful, single-cable connection that de-clutters the desktop or laptop and ramps up productivity. Thunderbolt connectors now allow gamers to connect to high-speed external storage, transmit to 4K monitors at 60 fps, or even connect external GPUs for a better gaming experience.

Furthermore, the way gamers access and interact with games now has undergone a significant transformation in recent years. Traditional practices of purchasing physical copies of games from brick-and-mortar stores have now shifted to digital distribution. Online stores, such as Steam, Epic Games Store, and consoles’ digital marketplaces, have become the primary method for acquiring gaming titles. This shift offers numerous advantages, including convenience, instant access to games, and a vast library of titles at gamers’ fingertips — further necessitating the need for high-speed Wi-Fi 6/6E connectivity to download mega-sized digital games in an instant.

Fueling Innovation and Future Possibilities

The future of gaming holds immense potential. Technological advancements, such as virtual reality (VR), and augmented reality (AR), have already made their mark in the industry, captivating the imaginations of gamers worldwide. VR and AR technologies have also continued to mature, offering immersive experiences that blur the lines between the virtual and real worlds.

As the gaming industry embraces these emerging technologies, the demands of gamers will continue to evolve. The hunger for more realistic, immersive, and socially connected experiences will drive further innovation and advancements. Game developers and hardware manufacturers will continue to collaborate, pushing the boundaries of what is possible and delivering captivating experiences that cater to the evolving needs of gamers. With technology serving as a catalyst, the future of gaming indeed holds endless possibilities.

— The author, Akshay Kamath, is the director of the PC Client category at Intel India. Views expressed are personal.

Also Read: India can be gaming nation of the world over the next decade, says Nitish Mittersain

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

View | From Threats to Trends: Navigating cyber resilience in 2024

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Data is an organisation’s most valued asset and yet, organisations today are the most vulnerable to data breaches. PwC reveals that Indian organizations are most concerned about cyber risks or potential threats associated with the cloud (52%), attacks targeting connected devices (45%), hack-and-leak operations (36%), and compromise of software supply chains (35%) in 2024. 

The rise of AI-powered cyberattacks in India is a significant concern, posing risks to the country’s economic and digital operations, with manufacturing, pharmaceuticals, and BFSI sectors as the worst hit. The integration of AI to combat sophisticated threats and the emergence of novel approaches to securing decentralised technologies promise a plethora of possibilities and complexities in the landscape. As organisations strive to balance technological innovation, address cybersecurity skills gaps, and adopt robust security measures, cyber resilience will gain the spotlight as a boardroom priority.

Navigating the dynamic terrain of the data-driven world, let’s delve into the trends that will impact the industry in the coming year.

Steering the Shapeshifting Threat Landscape

In 2024, cybercriminals are poised to amplify the impact of their attacks by strategically employing defender tools. This paradigm shift sees attackers utilising such tools for asset discovery and vulnerability analysis across various assets. Cyber adversaries will thus harness advanced tools and technologies to exploit vulnerabilities that promise maximum impact with minimal effort. 

The looming threat landscape is further complicated by the rise of AI-driven adaptive malware and botnet generation, presenting an escalating risk for IT and security teams. These intelligent threats dynamically evolve during attack stages, shifting their form to evade security measures. According to a PwC study, almost half of respondents felt that the outcome of a cyber-attack could result in loss of customer data and revenue, followed by more than a third of them highlighting operations downtime to be a key outcome of a cyber attack. The emphasis is now not merely on detection and prevention but equally on achieving rapid recovery, challenging organizations to shift their perspective from weeks or months to hours. To counter this and navigate the complexities of this landscape, organisations must adopt comprehensive cyber resilience strategies in 2024. 

Peeking at the era of AI-driven cyber resiliency 

The distinction between cybersecurity and cyber resilience is becoming increasingly critical, with the latter gaining prominence in 2024 and beyond. The focus for business leaders has now moved to ensuring operational stability through resilience. Enterprises are now anticipated to adopt a more defined approach towards AI, both offensively – to extract more insights from data, and defensively – to combat AI-driven attacks. 

AI will significantly shape cyber resilience by facilitating faster and more accurate threat detection. As enterprises integrate AI with data protection tools, leaders must choose platforms that align with business goals to avoid tool fragmentation risks. Evaluating AI use cases will involve a strategic approach to reducing complexity in the sprawling SaaS and IaaS environments. As AI becomes a linchpin in identifying complex cyber threats, its broader strategy will encompass proactive measures like data classification and network isolation, ensuring a comprehensive and forward-looking approach to cyber resilience.

C-suite level Involvement in Cyber Preparedness

Looking at cyber preparedness from a leadership perspective, senior executives, including CEOs, are expected to significantly increase their engagement in cyber initiatives in 2024. According to a recent IDC-Commvault survey, only 33% of CEOs or MDs and 21% of other senior leaders actively engage in current cyber preparedness initiatives. This indicates the need for a top-down approach and increased participation from the C-suite to ensure a comprehensive security posture assessment. 

Additionally, boards are expected to become more adept at identifying enterprise risks and playing a crucial role in risk management decisions. This shift, coupled with an increasing emphasis on cybersecurity expertise in board composition, reflects a strategic response to the evolving threat landscape. 

Decision-makers should also focus on the technical aspects of cyber initiatives and understand the impact on the overall customer journey. Aligning cybersecurity efforts with customer expectations involves safeguarding sensitive data and ensuring a seamless and secure experience throughout the customer lifecycle while positively influencing the customers’ perception of the brand.

Data Immutability to Counter Ransomware-as-a-Service

Ransomware-as-a-Service (RaaS) has democratically enabled cybercrime, empowering even unskilled individuals to execute attacks easily. The accessibility of RaaS kits in the market has led to a surge in attacks, posing risks for organisations of all sizes. Amid this, immutable data storage architectures emerge as a formidable defence against RaaS-driven threats. Immutability, preventing unauthorized alterations to data, obstructs attackers from modifying or encrypting data even if they gain system access. This resilience makes it challenging for ransomware to propagate and fulfil its primary function.

In 2024, data immutability will become crucial in thwarting ransomware attacks and strengthening overall data integrity, reinforcing cybersecurity defences within a broader cyber resilience strategy.

Data Privacy to Retain Spotlight

In 2024, the data privacy landscape in India is poised for a continued evolution towards a more privacy-centric and ethical approach. As individuals gain empowerment and organisations prioritise responsible data practices, the future promises a more secure, transparent, and privacy-aware digital era.

However, the anticipated challenges, with privacy risks and the complexity of AI-related risks, are expected to grow. In 2024, the industry will witness more legislation tied to AI development, utilization, and governance, with varying policies across countries. It will be essential for businesses to establish dedicated compliance teams to navigate this complex regulatory landscape. Prioritising data governance in the context of AI will be crucial, ensuring the implementation of proper guardrails around data access and privacy.

As organisations embark on the next phase of their data-driven journey, the imperative is clear: those who embrace proactive cyber resiliency strategies will not merely navigate the ransomware age but also pioneer a new era of data resilience, thus paving the way for an innovative and secure digital future. 

— The author is Area Vice President, India & SAARC, Commvault, a data protection and data management software company.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

2024: The year of responsible and grounded generative AI

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Artificial Intelligence (AI), and more specifically, Generative AI captured the world’s imagination in 2023 – from creativity to design, from retail to healthcare.

At CyberMedia Research (CMR), our research reveals Indian enterprises reaping early rewards, with a staggering 55% implementing AI at scale. Generative AI adoption, in particular, has fueled the development of customer-centric products (60%), data-driven decision-making (59%), and improved customer services (47%). So, as we stand on the precipice of 2024, what does the future hold for AI and its generative counterpart?

As an analyst who has closely tracked the trajectory of technology trends, I am particularly excited about what 2024 holds. I believe we are on the cusp of a year where AI adoption surges at scale, and Generative AI’s real-world impact becomes undeniable.

While some may view AI as overhyped, I am fairly optimistic about what an AI-enabled future posits. We are not merely witnessing a technological advancement; we are at the dawn of a new era where AI, and particularly Generative AI, has the potential to fundamentally reshape the way we live, work, and interact with the world around us.

Unlocking Real-World Impact:

In 2024, enterprise success with Generative AI will depend on how they approach experimentation and their ability to deal with potential setbacks or even failure. I foresee a greater mainstreaming of generative AI.

Unlike the year before, enterprises will move beyond initial experimentation and prototyping to attain real-world tangible impact. Generative AI’s reach extends beyond product creation. It can conjure up synthetic data to train robots and autonomous vehicles, preparing them for the nuances and complexities of the real world.

Also Read: SBI Chairman Khara says Gen-AI to shape up the way banks will be run

The Rise of Multimodal AI:

In 2024, I foresee the rise of Large Multimodal Models (LMMs), moving beyond the confines of text and images that we witnessed until now. What does multimodal AI portend?

Generative AI will embrace multiple modalities, including images, audio, and video. Imagine the possibilities. These AI systems will be able to interpret and combine information from multiple senses. This shift not only unlocks a plethora of new possibilities but also promises to ground future AI in the rich fabric of the real world. Imagine the possibilities.

Multimodal AI will unlock powerful applications, such as image-based inventory management, healthcare diagnostics, and context-aware virtual assistants.

Personalization to the fore:

There will be a far greater shift to personalization, with personalized AI models tailored to specific data types and user preferences contributing to more accurate and relevant outputs.

This shift towards personalization promises not just accuracy and relevance, but also a deeper understanding of individual users and their interactions with technology. Consider, for instance, AI-fuelled marketing campaigns speaking directly to a target audience’s unique desires and needs.

The “Winner-Takes-All” Arena:

The Generative AI service provider market will undergo a strategic transformation in the year ahead. I foresee an evolutionary shift in market dynamics too, with many enterprises deciding to shift from vertical to horizontal market play.

Also Read: Global Partnership on Artificial Intelligence nations adopt New Delhi declaration

In this new strategy, enterprises will delegate operational workflows to specialized companies that excel in specific industry domains and functions, such as sales enablement and creative work.

This strategic shift reflects a broader recognition that leveraging the expertise of specialized entities in specific areas is a more effective and efficient way to handle operational tasks, leading to meaningful advancements in the application of generative AI across various sectors.

The competitive market environment will transform into a ‘winner-takes-all’ market, favouring those enterprises that leverage and embed Generative AI as a layer on their to differentiate themselves from the competition.

Responsible AI: The Cornerstone of Progress:

In 2023, the initial excitement surrounding generative AI was clouded by concerns about biased outputs, misinformation, and ethical implications. As we move forward, there will be a more cautious approach from enterprises. Enterprises will increasingly favour robust AI policies that outline clear ethical guidelines and ensure the development and usage of responsible and trusted AI.

Beyond policy oversight, we will see a greater emphasis on Large Language Models (LLMs) focusing on accuracy and factuality, drawing upon authoritative sources instead of generating content from scratch. Training data will be rigorously examined and curated to prevent biased or harmful outputs.

Also Read: AI is the greatest invention of our time, but needs a global framework: Rajeev Chandrasekhar

Humans will oversee both training and inference, especially for sensitive applications, ensuring responsible AI development and deployment. Teams working with generative AI will receive proper training to understand and implement ethical and responsible practices.

The Road Ahead:

All said, 2024 will be a pivotal year for generative AI. As companies move beyond the hype and tackle the challenges head-on, we can expect to see responsible and grounded applications emerge, shaping the future of industries and transforming our relationship with technology.

The journey towards AI systems that understand and interact with the real world has just begun, and 2024 marks a crucial step in this promising yet still developing field.

— The author, Prabhu Ram, heads the Industry Intelligence Group at CyberMedia Research (CMR). He is a much sought-after and broad-based analyst, providing expert strategic advice to technology companies in Asia and elsewhere through proprietary and custom technology research. 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

‘Your camera is off’ – Here’s why it shouldn’t be

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

With the entry of hybrid work in recent years, the rules of professionalism have changed.

Online meetings have replaced business attire and handshakes with digital competence and virtual “How are you?” check-ins. But online meetings haven’t thrown the meaning of professionalism completely out the window, even if pants became optional. It turns out that turning video on plays a role in how professional we appear during online meetings, but where you are in your career might also impact when — and whether — you turn on video. So, if you’re wondering how your colleagues might be perceiving you based on your video habits, let’s explore this a little more.

Is turning on video a career booster?

In times of flexible work, we’ve all become more reliant on technology to enable the coffee chats, meetings, creative workshops, and brainstorms that take place in the office. Even if we’re back in the office, almost every meeting involves some remote attendees. When interacting online, we cannot read beyond what’s being said and are perhaps mostly aware of our appearance, looking at ourselves in that little frame. And rightly so, with 58% working either fully remote or flexible, our professionalism online is more important than ever.

Jabra’s newest hybrid work report reveals that employees joining an online meeting with video are taken more seriously and seen as more engaged in the conversation. And with two-thirds of meetings being either fully online or hybrid, there’s a lot to gain from turning on your camera. When face-to-face in the office, we constantly give away body language and social cues that impact how our peers see us. And while we can’t (yet) replicate an in-person interaction through online meetings, turning on video can boost how we are perceived. Almost half of those we surveyed say that colleagues with video on seem more involved in meetings than those with video off. With a simple act of turning on your camera, you present yourself as a more active and engaged contributor — which I believe most of us want.

Do we feel pressure to turn on video?

At the end of the day, a lot of people are uncomfortable turning video on all the time. It can be cognitively fatiguing, drive heightened self-awareness, and research shows that it impacts some more than others.

According to our research, this applies more to the younger generations than others. GenZ and millennials are not only those who most often feel left out in online meetings, but they’re also feeling the most pressure to use video. They are typically in the early stages of their career and equipped with less experience, when many of us know it can be intimidating to be seen and heard.

In general, the choice to turn the video on is highly influenced by the number of attendees in the meeting, one’s role in the meeting and who else is attending. Sitting in a small meeting, GenZ is more likely to turn on video because it will be noticeable if not doing it. Meanwhile, generations further into their career, GenX and boomers, either care less or are more relaxed — 37% and 47% of GenX and boomers, respectively, say that they never turn on their video. However, in a scenario where the boss or other superiors are joining the meeting, there’s an even likelihood across generations to turn on video.

In other words, while there are different drivers for using video in an online meeting, the younger generations suffer most from social pressure. It emphasizes that the stage of your career is influential in how you present yourself in meetings. This poses a challenge for building organizational trust if certain groups systematically feel uncomfortable or alienated. Especially because I believe, that employees share their best inputs when joining a meeting in a way that feels most comfortable for them – remote or in-person.

Is video a win-win for all?

While turning on video can have a positive impact on your career and how others see you, there’s still some work to be done to ensure that each employee feels comfortable at the meeting – video or not. By considering clear guidelines for different meeting scenarios to try to ease the pressure felt to turn video on, business leaders can build a better meeting culture – and better meetings for all.

— Holger Reisinger is Senior Vice President, Video Business, at Jabra GN Audio.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

View | Becoming a Certified Fellow in ERM (CFIRM): My story from a student to qualified CRO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Early in the 1980s, when Board Toppers were pursuing Electronics Engineering, I took inspiration from their success and began my own educational journey to become an Electronics Engineer. After completing my degree in engineering, I started my career in the CAD/CAM domain, which had various applications across different industry segments.

In 1990, after completing my engineering degree and starting work, India was navigating through severe economic challenges. When I completed my MBA in Finance in 1995, the financial sector was experiencing a downturn, and the overall market conditions were extremely challenging. At that point, I started exploring sectors that could be a sunrise industry for the future. During this phase, I learned about the Government of India’s efforts to open the insurance sector to private players. While interacting with experts in the field, I stumbled upon the term ‘risk management’, which was then considered synonymous with plant or factory risk management. I was convinced that there’s a risk in everything we do, and it applies to every business or domain, irrespective of the industry or sector.

After extensive research, I came across the Institute of Risk Management (IRM), headquartered in the UK, that offered the leading global certifications in Enterprise Risk Management (ERM) along with professional designations recognised world over. The subjects, course outline, and coverage of all areas of risk beyond finance or insurance caught my attention, and I enrolled in the IRM examinations. The course material was unique and captivating, with a focus on building a strong foundation on risk concepts, the process of ERM, risk-based decision-making, risk identification, risk analysis, and most importantly, developing a risk culture. As part of the course, candidates also had to submit a caselet for a company by identifying and analysing risks in detail. The case study submission was assessed based on formal examination. I was fortunate to clear the Associateship Exam of the IRM in 1997 and was conferred the title AIRM, which was later upgraded to the Certified Fellowship, i.e., the CFIRM designation.

After completing my PGDBA in Finance, I secured a job at a Non-Banking Finance Company (NBFC). My learning journey continued as I had the opportunity to work in various areas of the financial services sector. Moreover, I was asked to prepare for a Joint Venture with a leading Insurance Firm worldwide as a Steering Committee member.

While serving as a Steering Committee member for the Insurance JV, I enrolled in and completed the Insurance Exams conducted by the Insurance Institute of India and the IRM. This helped me fulfil my responsibilities more effectively. I also briefly worked at a bank leading the Bancassurance initiative and started taking exams from the Indian Institute of Bankers.

I got my first big break in ERM when I joined the world’s leading insurance broking firm as a consultant providing risk services. If it weren’t for all the studies I had done in the past, the qualifications I had gained, and in particular the IRM certification, I would never have been able to get the job or deliver on risk consulting services. While working in the risk management consulting area with a Big Four firm, I gained exposure to different forms of risk management services, including enterprise-wide risk solutions, physical risk management, insurable risk analysis, contractual risk analysis, project risk, business continuity planning (BCP), and disaster recovery planning (DRP).

My risk management skills improved significantly when I transitioned from a consultant facilitating risk management to a hands-on risk manager as qualified Chief Risk Officer (CRO) in a corporate setting. I have held CRO positions in infrastructure, oil and gas and engineering design and project management consulting firms. As a CRO, I gained insight into both qualitative and quantitative aspects of risk management. This enabled me to assist management in making informed decisions across various areas, such as bids, projects, business continuity planning, financial decisions, contractual risks, etc.

When working on any risk assignment, I can bring diverse skills and knowledge, including engineering, financial analysis, insurance, banking, contractual expertise, economics, and more. This is due to the qualifications and experience I have gained in these domains, allowing me to tackle any challenge with confidence and efficiency.

How my company has benefited from my IRM certification and Fellowship in ERM:

I started my career in risk management as a consultant and without the IRM’s ERM qualifications, I would not have been in a position to start delivering on engagements from day one without any company training. While working with organisations in the infrastructure sector, I could resonate with and implement all the learnings from the IRM’s materials. This allowed me to create deliverables which speeded decision making by the respective Management. I could develop customised frameworks for Bid Risk, Project Risk, Qualitative and Quantitative risk management, Business Continuity Planning, Linkage to Strategy and more. The quality of my deliverables enhanced my positioning in the organisation. Today, I am a part of the Executive Management Committee which is an apex body of the organisation and I actively participate in areas of management decision making. Besides, my interaction with fellow risk managers from different companies also helps us benchmark our risk practices to bring an outside-in perspective to the organisation. We could bring the concept of ‘No Surprises’ to a larger set of employees as a part of the process of building risk culture in the organisation through customised training programs in our endeavour to ‘Make everyone a Risk Manager’.

Key success factors for a CRO of the future: Based on my experience, I believe that the following is essential:

• The CRO should have the right mix of education and industry experience and the IRM’s pathway to Fellowship is the gold standard for ERM professionals.
• The CRO should have ‘skin in the game’ on every engagement and be involved in every key decision referred to management. This will ensure the CRO has a ‘seat at the table’ as part of the management committee.
• The CRO should be exposed to various risk management techniques, governance issues, diverse business/services, and risk regulations.
• The CRO should work on building a risk culture across the organisation through Business/Function Risk Officers, thereby creating future leaders who think about breadth aspects in addition to their areas of expertise.
• The CRO should be aware of global developments, industry updates, geopolitics, economic aspects, etc. Strong corporate connections, networking, and a broad reading spread are key.
• The CRO should invest in creating qualified risk champions who are not risk experts but business experts taking risk-based decisions in various departments.

Over time, the IRM Certification has expanded with a well-structured track from Level 1 to Level 5 or Stage 1 to 5, which students and professionals can pursue to gain a comprehensive understanding of international frameworks (like ISO 31000 and COSO 2004 and 2017), risk identification techniques, scenario planning, horizon scanning, evaluation of emerging risks, risk appetite and tolerance, risk treatment, risk reporting and communication, business continuity planning, internal audit and assurance, and corporate governance. Since I had cleared the Associateship exam 25 years ago, I got an opportunity to apply for Fellowship through the Senior Executive Route (SER). My application was thoroughly reviewed based on my credentials, management-level experience, references, and other factors. I was awarded the Certified Fellow of the Institute of Risk Management (CFIRM) title, and I was also among the first to complete the IRM’s Digital Risk Management Certification exam in collaboration with Warwick University.

Through a formal training process conducted by experts from IRM, I have now become an Assessor for the SER route. It has been an amazing journey of learning, deploying, and sharing my knowledge. Now, I am giving back to my alumni as the Chair of the India Regional Group that manages member relations while the IRM India Affiliate continues to grow the IRM community in India. In my journey of overseeing the key governance pillar of ERM for the organisations I have worked with, I have gained immense benefits.

Career Tips for aspiring students and professionals

• Acquire knowledge from all possible sources to be a successful Risk Manager – formal education from IRM, industry specific experience, different types of risk management and areas, reading about organisations (both success and failure stories), networking with peers from within the organisation and outside
• Read about experts from various fields or reach out to them by participating in various forums and seeking inputs / guidance.
• Read the Annual Reports of companies, specifically the Risk Management Disclosures section, that gives an idea of the company’s business, management processes and top risks.
• Use platforms like LinkedIn to reach out to employers, collaborate with alumni, showcase your qualifications / certification / experience to potential recruiters.
• Your passion for the subject should be infectious and it should influence the stakeholders you deal with.

As the world becomes increasingly complex, getting risk-intelligent irrespective of any career and having formal knowledge of ERM can help one anticipate, prepare for, and deal with uncertainties in scaling a business, climbing in a corporate job, or starting a new venture. Therefore, ERM as a field and career option is universally applicable and will continue to proliferate personally and professionally. My best wishes go out to all young business and risk enthusiasts who wish to become risk intelligent in any domain or sector and aspire to build their careers in one of the most promising areas in the times to come.

The author Rajeev Tanna is CFIRM, Head of Risk Management and Internal Compliance, at Tata Consulting Engineers Limited.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

The Triad of Transformation: People, process, and technology

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Technology disruption, demographic shifts, a fracturing world and social instability are a few of the many trends that are dramatically reshaping the business environment today. These changes are forcing organisations to reconsider their future, creating the need for a major transformation.

As reported in the India perspective of the 26th Annual Global CEO Survey, 41% of CEOs think their firms will not be economically viable a decade from now, if they do not transform. Today, transformation goes beyond adopting the latest technology and requires both scale and speed. It has now turned into a comprehensive shift focusing on people, processes, and technology. Together, these components form the “Triad of Transformation”. Harmonising this triad and making sure all its aspects work together is crucial for the sustained success of organisations.

Let’s delve deeper into each of these elements.

Technology: The Foundation of Transformation

Specialised AI and AI-powered Automation: While humans will always be at the helm of an organisation, there is a fundamental shift in the role of technology, which forms the very foundation of a transformation. Today, new-age technologies, AI and AI-powered automation are driving businesses to new productivity levels. At the forefront of this is Specialised AI, which stands distinct from Generative AI. Designed with precision, Specialised AI focuses on specific industry or use-case applications, bringing unparalleled accuracy, cost-effectiveness, and domain-specific insights. With its ability to seamlessly integrate into broader AI-powered automation strategies, Specialised AI not only eliminates complex tasks but also frees up time for innovation at an organisational level. The result transcends enhanced efficiency to include a complete transformation of how businesses operate, ensuring they are well-prepared for both current challenges and future opportunities.

Low-Code, No-Code Platforms: A notable technological trend is also the rise of Low-Code, No-Code platforms. These platforms are democratising development, allowing even those with minimal coding expertise to create solutions. But their impact goes beyond. Consider a small business aiming to automate its customer service. With low-code, no-code platforms, they can swiftly integrate AI-powered solutions, without the need for extensive coding. They speed up the implementation process, thereby ensuring businesses can realise value at speed.

Process: The Engine of Transformation

End-to-End Digital Transformation: With the foundation of technology firmly in place, the next step is to integrate these digital technologies into every aspect of business (including manufacturing facilities) to drive an underlying change from process to plant. It involves a complete overhaul of business processes, from the initial customer touchpoint to post-sales support. However, transitioning from a traditional set of processes to a fully digital framework comes with its own set of challenges. It requires meticulous planning, robust change management strategies, and buy-in from all stakeholders involved. If executed successfully, the rewards of a transformation can be manifold. An end-to-end digital transformation ensures that every facet of the business operates cohesively in the digital realm, optimizes operations, reduces inefficiencies and allows businesses to make sound data-driven decisions. This enhances their predictive capabilities, ultimately leading to innovation and giving businesses a strategic competitive edge.

People: The Heart of Transformation

Upskilling is Vital: Finally, people being at the core of any organisation, also form the heart of any transformation programme. Hence, it is highly critical to remain invested in them. It’s not merely about recruiting the best talent; it’s about creating a culture of continuous learning and development. PwC’s ’26th Annual Global CEO survey — India perspective’ also revealed that around 85% of Indian CEO respondents are prioritising investments in upskilling their workforce. This underscores the significance of upskilling in today’s business landscape. Beyond immediate skill enhancement, the long-term ROI of such investments is evident. Businesses that champion continuous learning often witness higher employee retention rates, a surge in productivity and a boost in innovation. These benefits not only equip individuals to excel in their roles but also shape a resilient, adaptable, fulfilling and overall engaging work culture.

Culture of innovation and idea incubation: Technical skills are just one part of the equation in the transformation journey. The true differentiator lies in fostering a culture where innovation thrives. Encouraging employees to bring forth ideas and providing them with tools and platforms to develop those ideas into solutions can be transformative. Businesses that prioritise idea incubation not only stay ahead of the curve but also instil a sense of ownership and purpose among their teams.

Putting It All Together: Modern-day technology has been swiftly changing the way organisations do business. Its ability to collect, generate, analyse and disseminate data is the principal driver of digital transformation. However, the success of any transformation programme hinges equally on people in addition to technology. Ultimately, a human-led-tech-enabled approach drives the processes thus ensuring that the Triad of Transformation eventually succeeds.

— Nitin Kotian is Regional Vice President, Partner/GSI,  India & Asia South,  UiPath, and Sumit Srivastav is Partner & Leader, Intelligent Automation, PwC India.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

RBI’s talk will be more important than the MPC’s walk

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In a few hours, Governor Shaktikanta Das will unveil the Reserve Bank of India’s (RBI) monetary policy, and this once the suspense in the market is not about what the Monetary Policy Committee votes on, but what the central bank signals in its tone.

Following will be the five big questions to which the market will look for answers:

1> Is the RBI still ultra-worried about inflation? The November and the December consumer price index (CPI) readings may come close to 6% and will this keep the RBI hawkish in its tone? More important will they raise their CPI forecasts?

2> How does the RBI approach the higher-than-expected Q2 gross domestic product (GDP) growth reading? Does it temper it down recognising the impact of single deflation, the magic of low input prices, and the base effect? Or does it worry that growing faster than potential can lead to overheating at some point? Again will they raise their GDP forecasts?

3> What will RBI say about liquidity? Will it raise the pitch for more tightness? Or will they hint that they can allow the call rate to come towards 6.5% from the 6.75% that has been the norm for the past two months? Will they reiterate that Open Market Operation (sale of bonds) is very much on the table or soft-pedal the threat?

Also Read: RBI monetary policy announcement tomorrow: CNBC-TV18 Poll anticipates unchanged repo rates

4> What will RBI say about unsecured loans and dangers to financial stability? Will they increase risk weights on the same sectors – personal loans, credit cards, NBFC loans? Will they find new areas of worry like say microfinance, where they have already hinted that they find the rates usurious?

5> And finally, what’s the overall tone of the policy? Will they at all give the first hints of moving from a “withdrawal of accommodation” stance to a “neutral” stance? Or will they lean on the other side and spring an unexpected hawkish surprise like – god help us – a Cash Reserve Ratio (CRR) hike?

There is a group of doves who believe that with crude lower, US yields crashing by nearly 100 basis points from October highs, and with the global central banks more or less signaling the end of rate hikes, the RBI can move ahead of the curve and edge towards a dovish pause, thus preparing the market for a “neutral” tone.

Also Read: RBI unlikely to make changes to repo rate, yet experts anticipate ‘hawkish’ measures

And there is the other camp of hawks that believes that with growth and inflation much higher than expected, a CRR hike or an upward adjustment to the standing deposit facility (SDF) rate is warranted. The broad majority is in the idle expecting an absolutely middle-of-the-road tone. Yours truly votes with this last group, but last time we were wrong. RBI was more hawkish than expected. Will it be an action replay? We will know in a few hours.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow