The past few decades have seen staggering technological changes that have revolutionised the world. Technology has created hundreds and thousands of tools and resources, making it possible to access any information literally at our fingertips.
Over 4.33 billion people actively use the internet today. That’s a mind-boggling 56% of the global population where India ranks second. And it’s only going uphill from here.
IT technology in India is advancing at an alarmingly fast rate, and those who can’t keep up are simply left behind. Technology has changed the way we communicate, how we pay our bills, and even how we watch TV. There’s no doubt that the IT industry is growing like never before. The question is – can you leverage the IT talent in India to stay ahead in this rat-race? Is India at the forefront of technological innovation? Let’s find out.
IT Technology in India: The Past
In the past, India has often seemed to be a bit of a relative laggard among developing countries, especially in terms of economic growth. However, what changed that was the IT revolution in the country that led to the Indian software industry being recognised as one of the most successful in the world today.
The late 1970s saw a boom in the IT industry with the outsourcing of software to specialised software firms. It was quick, easy, and in the unknown land of technology, it was convenient. The early 1980s were all about “prepackaged” software because of the acute shortage of talented engineers who could build custom software.
However, the 1990s saw a resurgence of project-driven software services that ignited the mushrooming high growth rates in the Indian software industry. Soon the local industry established itself, and multinationals began to set up their own development centers in the country, starting with Texas instruments in 1986.
The rest is truly history! Since the early 1990s, the Indian IT industry has been growing at a phenomenal rate with several phases of growth and development over the last three decades. Digital technology, Artificial Intelligence, Cloud Computing, etc., are all common words today. But India is just getting started.
What can we expect in the next 20 years?
There’s no doubt that the world is going to drastically change with technology and innovation in the next 20 years. And as a stakeholder in an IT company, it’s crucial to know which technologies to implement so your business can stay ahead of the competition and generate significant profits.
Here are some IT technology advancements that are going to be BIG in the next 20 years
Internet Of Things (IoT)
A recent survey conducted showed that over 86% of the respondents plan to increase their IoT spends significantly over the next couple of years. The survey also went on to say that enterprises in the US spend an average of $4.6 million in 2018 on IoT, to digitally transform their business models. The next 20 years will see sensors incorporated on machinery, equipment, heating units, security systems, and pretty much everything – and IoT will play a significant role in this.
Artificial Intelligence & Robotics
Though the concept of Artificial Intelligence is well over 60 years old, it has only become popular in the last decade. With passive operational power and storage, AI can transform business strategies like no other. Self-driving cars, robotics, new teaching methods, and even personalised medicines – AI is set to take over, and take over it will.
Augmented reality is no longer science-fiction, thanks to the IT technological advancements in the last decade. While earlier, the costs associated with AR meant that projects were few and far apart, today, technology has made it possible for AR to be available even on the mobile handset. In the future, Augmented Reality will find its application in education, art, architecture, military, and navigation – the possibilities are truly endless.