Emerging fields, like AI, ML, IoT, Blockchain technology, and big data can take India to greater heights. Read on to know more how India can transform the life of its citizens through technology and Industrial revolution…
To take India to new heights of development, and improve the quality of life of its citizens, cutting-edge technologies should be adopted. Read on to know how latest technology can transform India…
Emerging fields, like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), blockchain technology, and big data can take India to new heights of development and improve the quality of life of its citizens. Technological development in Artificial Intelligence, technologies, Blockchain and other technologies can also change the nature of employment and provide more opportunities.
The Blockchain technology would help in promoting the vision of minimum government and maximum governance and will help in fast-tracking government services such as management of natural resources and property registration. The new technologies, including Internet of Things and Blockchain technology, will help India to address challenges in education, healthcare, agriculture, job creation and environmental sustainability.
Several initiatives which is launched by the government like Start Up India, Stand Up India, Digital India and Atal Innovation Mission can help India to transform the lives of the citizens. The ‘Industry 4.0’ and the expansion of Artificial Intelligence can lead to better healthcare, reduce costs and help farmers and benefit the agriculture sector.
India is the largest mobile data consuming country in the world and also the one with the cheapest data rates, and mobile data consumption has increased 30 times in four years. The tele-density has increased to 93% and nearly 50 crore Indians now have mobiles.
Challenges of Low Digital Penetration
A digital stack endorsed by the government that helps technology companies provide unique digital solutions to the masses, cheap data prices and a plethora of online retail and financial service providers tapping into the opportunity is certainly a good news.
However, according to a report — of the digital reach, almost 80% are from affluent segments in urban areas. In August this year, a report published by Bain and Company, Google and Omidyar Network titled ‘Unlocking digital for Bharat: $50 billion opportunity’ shows, millions are untouched by the Internet, those who have access barely use it and a tiny group of 160 million consumers is transacting online.
According to the report, India has the second-highest set of active internet users globally (around 390 million) and has seen the highest velocity of user addition (average 40 million added per year). However, the data does not, for instance, reveal the poor levels of penetration, or draw the red lines around the low transaction levels online. Compared to a 64% penetration in Brazil (130 million users total) and 53% in China (total 733 million users), India has barely 28% penetration.
Among the suggestions of this report is a large need for public-private partnerships to create more access and awareness among the masses. Currently there are multiple grassroots level programmes like Google’s Internet Saathi programme and Vodafone for Business which help engage communities beyond big cities into the internet ecosystem. Also expected to change the penetration and usage patterns is the government’s BharatNet initiative that plans to enable internet connectivity among gram panchayats in the country.
The Road Ahead
Artificial Intelligence, Machine Learning, Internet of Things, Blockchain technology and big data hold potential to take India to new heights. India is going to play a major role in the fourth Industrial revolution and the diversity, demographic potential, fast growing market and digital infrastructure have the potential to make India a global hub of research and innovation.
This is not just an industrial transformation, but a social transformation. To make it happen, government should be more open to policy changes to help reap benefits of the fourth Industrial revolution. The latest technologies and India’s fourth Industrial revolution opens the door to immense possibilities in the future.