Challenges in wake of digitisation discussed
LUCKNOW: Udyam, the flagship annual business conclave of IIM Lucknow, Noida Campus was held with renowned industry leaders converging on the campus for a full day of discussion and deliberations.
The theme of the conclave was 'digitization'.
The business conclave was spread across two sessions wherein the first panel discussion was held on “Digital Transformation: Disruption or Innovation” and the second on “Industry 4.0: How Digitization is Changing Supply Chain”.
In his inaugural address, Prof Md Akbar – MD L-Incubator, IIM Lucknow briefed on the disruptive innovation all around us and stressed on the import of the interaction between industry and academia in these volatile times.
Bringing together the best of minds from the different domains of the industry and thereby enlightening and provoking new thoughts among the future leaders was the main objective of this one-day event.
“Industry today is going through a flux and it is mostly on the back of some very highend technology, making things possible today which were quite unimaginable a few years back. Autonomous cars, humanoid robots and billion dollar companies without physical assets are some of the realities that we face
today,” he said.
Highlighting this fact, Rajesh Dhuddu, senior VP, Quatrro Processing Services, gave the example of “Gatebox”, where in a humanoid living with human beings does all activities.
He also spoke about the inevitability of coexistence of the digital
and physical.
The phrase digital transformation itself conjured up a picture of companies adopting technology in their activities or in some cases changing business models or creating completely new businesses out of thin air, he said.
The panelists talked about various challenges that would come up in its wake such as employability gap of the individuals and cybersecurity. While speaking on the need to ensure a seamless transition to this new era of digitization, Meenu Singhal, VP, Schneider Electrics spoke about the need to invest not only on people to increase their productivity and efficiency but also on cybersecurity and emerging technology.
The panellists also predicted that the coming 4th Industrial revolution would be based on application of the technology available, leading to an ecosystem that would change from being asset-based to network orchestrating, such as the Uber.
Neeraj Singh, director KPMG, talked about increasing product complexities and dynamic customer requirements which were necessitating need for IOT enabled connected equipment or production lines which could interact with each other giving enhanced efficiency of production.
The speaker also talked about the benefits of circular economy and the need to focus on how product was used, reused and disposed, thus helping reduce costs and have sustainable businesses.
The event was organized by students of various programmes (IPMX, PGP-SM and WMP) at IIM Lucknow, Noida Campus.