Medium and Small players will dominate the IT landscape.
Updated: Jul 26, 2022
There are some who have predicted the IT wave will soon end. And that new wave will emerge. What would it be? Has the IT wave reached a saturation point?
The key to understanding this is in the study of economics and psychology, not just technology. If you want to predict the future, you should look into all three areas simultaneously. That’s where I think things are going — back to the basics of human nature, political economy and technology.
According to a Japanese proverb, “Technology is an extension of human organ”. From the invention of fire to the latest artificial intelligence and robotics, humans have always found ways to improve their lives by using technology. Today, we can say technology has become part of the human being. It has more or less become a human organ. In today’s world, technology has penetrated every sphere of our existence, and we are just not connected but dependent on it than ever before. We use it for education, social interaction, entertainment, and work.
Technology is an extension of human organ”. From the invention of fire to the latest artificial intelligence and robotics, humans have always found ways to improve their lives by using technology. Today, we can say technology has become part of the human being. It has more or less become a human organ.
Striving towards a better life has been so much part of human beings. As long as there are humans, there will be innovation. And the Role of Technology to foster the process of Innovation is here to stay for a long time. More and more business have realised that in order to just survive it’s important to incorporate a techno intellectualism or a technology mindset in the organisation.
Over the past 3 decades large organisations have made mush headway by setting up systems and processes in place, the medium and small ones have relied on a more reactive and defensive approach. They have used their human centred approach as a service plus. Now, with all the processing technologies, we find robots, Ai and algorithms playing a huge role in the customisation of products and services. The medium and small companies are waking up.
I believe that in the next few years, we’ll see a new wave of innovation. This innovation will be driven by the small and medium-sized companies. There will be a lot of challenges along the way. But many will rise and succeed. We’ll continue to see greater demand for technology skills, especially in the rapidly developing countries like India. Other emerging markets will follow suit. And these changes will be fuelled by the next generation of talent. The younger generations will bring a completely different skill set to the table. These young professionals will form the foundation of the next wave of innovations.
They will lead organisations from the front. They will create new ways of thinking and doing things. They will help solve problems using creative solutions. Rather than using technology as a crutch, they will use technology as a tool. They will be future proofed against disruption. They will be the change makers of tomorrow.
Innovation will also come from the bigger players. They will leverage the advantages of scale and experience. They will introduce new product lines and offerings. They will go after new customers. Not only that, but they will partner with start-ups to gain insights into new markets or technologies.
Cost will be a huge consideration during this phase. India, with its huge talent base will continue to dominate the industry, providing affordable solutions for medium-sized and small companies.
Information Technology will continue to occupy centre stage as long as human beings strive and innovate. For all the advances in technology, the foundations of the game remain constant: players compete against each other for territory, resources, honour, and glory.