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Making Sense Of Digital Disruption

Forbes Middle East
Making Sense Of Digital Disruption
[caption id="" align="alignright" width="255"] Dr Karippur Nanda Kumar[/caption]

Leveraging digital technologies is one of the biggest challenges that businesses face, says Dr Karippur Nanda Kumar, Associate Professor & Area Head (IT), S P Jain School of Global Management.

What are the challenges that businesses are facing as digital transformation con­tinues to disrupt industries?

Digital transformation requires reinven­tion of business practices to derive maxi­mum value from digital technologies such as cloud computing, mobile technology, big data analytics, social media and artificial intelligence. Given the constantly evolving nature of technology, digital transformation cannot be a one-time investment and ini­tiative. Businesses need to put in place or­ganisational, operational and technological foundations that foster constant evolution and cross-functional collaboration. Some of the challenges that businesses face today include organisational silos, legacy processes and cultural re­sistance to change. There is also lack of digital leadership and many enterprises are confused about digital transformation with limited understanding of what to do next, who should lead it and how to measure success.

Which are the industries being most affected and what are the opportunities arising?

Leveraging and Integrating new digital technologies is one of the biggest challenges that enterprises currently face. No in­dustry sector is immune to the effects of digital transformation. Retailers are experimenting with a myriad of ways to respond to new shopper expectations, bridge digital and physical shopping experiences. The automotive industry is introducing digitally enriched products (such as the “connected car”) and new busi­ness models (such as Uber). The financial services industry is going through dramatic changes as a consequence of changing customer behaviour, increasing expectations and rapidly prolif­erating class of fintech startups bent on disrupting every facet of the traditional financial services business. Digital transforma­tion provides opportunities to grow revenues, improve differ­entiation and reduce costs. The democratisation of technology, increased access to funds and a rising entrepreneurial culture is creating new opportunities for start-ups in all industries.

How is Smart Technology changing the way we learn and educate?

Smart technologies will enable learners to deeply engage in learning that is person­alised to his or her strengths and preferences, and to address individual learning gaps and needs. Students today tap on cloud based learning management systems and massive open online courses (MOOCs) using smart phones and tablets. With all of the necessary information at their fingertips, students and working professionals can now learn at their own pace and have a nearly identical educa­tional experience in their homes, classrooms and at workplace. This provides the founda­tion for lifelong learning. In future, technolo­gies such as virtual reality and augmented reality will increas­ingly support immersive experiences in areas such as education.

How are you preparing students for a business world where technology is constantly evolving?

Digital acumen is essential for business leaders in today’s hy­per-competitive, technology driven world. At SP Jain School of Global Management, we develop our graduates to act as cata­lysts, speeding up digital transformation and disrupting tradi­tional thinking and business models. The courses are aligned to this objective and enable students to ask the right questions to frame the issues, synthesise information to create business value and innovate using design thinking. Students are en­gaged and motivated using a wide variety of teaching tools like simulations, online lessons, decision-making laborato­ries, global immersion exercises, research projects and student boardrooms. Students gain first-hand exposure through in­dustry projects while interacting with various leading compa­nies in world class cities such as Singapore, Sydney and Dubai. The S P Jain School campuses in these cities proactively part­ner with the local industry ecosystem to foster collaborative knowledge creation through research, development and shar­ing of case studies and best practices which will be beneficial to the students.
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