Navigating Digital Seas: Strategies for Indian Businesses in the Technological Age
In conversation with Charulatha, Correspondent, Siliconindia Magazine. Dhananjay Shares his views on technical capabilities that are driving digital transformation in India's business landscape and strategies for Indian organizations to successfully navigate the path toward becoming a digital business.
Technical capabilities that are driving digital transformation in India's business landscape, and the future of technology adoption
In recent years, India has witnessed a significant shift in its business landscape, driven by digital transformation. The pressing need for digital transformation necessitates the development of new digital IT architectures. However, current conventional enterprise architectures lack essential elements like flexibility, scalability, security, and the ability to monitor effectively. These elements are crucial for propelling technological progress and countering the growing complexity of cyber threats.
Therefore, it is imperative for enterprises to have the following six core technical capabilities that can help them cope with the risks and challenges they face in the process of digital transformation:
•Infrastructure: Modern IT infrastructures efficiently unify and deliver system, network, and storage resources across data centers, cloud, and edge. Organizations embracing this architecture will gain substantial financial rewards and opportunities.
•Observability: The increase in proliferation of data has made it imperative for organizations to scale their data, break down silos and use telemetry for real-time operational data. Therefore, it is crucial for organizations to have full-stack observability and updated strategies for accurate insights and decision-making.
•App and App Delivery: Applications are essential for digital businesses, fueling customer services and internal workflows. Efficient application delivery across diverse infrastructures is crucial, making it a top priority for organizations today.
•Automation: Digital maturity requires organizations to capture powerful digital signals for effective telemetry analysis and adaptation. Observability and automation provide a closed-loop feedback mechanism, enabling innovation and business improvement for tech leaders.
•Site Reliability Engineering (SRE) Practices: Adopting SRE approach to operations will enable organizations to incorporate desired business outcomes into service-level objectives (SLOs) and operate an entire digital service with minimal intervention.
•Security: Security is a key area of focus for any organization’s digital transformation. Organizations need secure deployment and policy enforcement to permeate every layer of the digital IT architecture.
Cloud computing enables organizations to scale their businesses quickly and efficiently and to access the latest technologies
Digital transformation journey remains secure and resilient against cyber threats
According to our Digital Maturity Index Report 2023, we found that organizations that embrace IT-driven technologies are more likely to take proactive cybersecurity measures. This suggests that digital maturity is closely linked to cybersecurity. Organizations that are more digitally mature are more likely to have the tools and processes in place to protect themselves from cyber threats.
Some of the ways in which organizations can ensure security while on the road to modernization are:
•Security-by-design approach: This means considering security at every stage of the software development process, from design to implementation to testing. This can help to identify and address security risks early on before they become more difficult and expensive to fix.
•Zero trust security model: A zero trust security model assumes that no user or device can be trusted by default. This means that all users and devices must be authenticated and authorized before they can access any resources. This can help to protect organizations from a wide range of cyber threats, including insider threats and supply chain attacks.
•Multi-factor authentication (MFA) solutions: MFA solutions require users to provide two or more factors of authentication, such as a password and a one-time code, to log in. This can prevent unauthorized access to systems and data, even if an attacker has obtained a user's password.
•Continuously monitor and improve security posture: Organizations should continuously monitor their security posture to identify and address new risks as they emerge. They should also regularly review their security policies and procedures to ensure that they are up-to-date and effective.
"MFA solutions require users to provide two or more factors of authentication, such as a password and a one-time code, to log in"
Specific use cases that Indian organizations have harnessed AI/ML to drive growth and enhance customer experiences?
Artificial intelligence(AI) and machine learning(ML) are rapidly transforming the way Indian organizations operate and compete today. By harnessing the power of AI/ML, Indian organizations can drive growth, enhance customer experiences, and improve their bottom line.
Below are some of the ways in which Indian organizations are using AI/ML to achieve their goals:
•Personalization: Organizations in India are using AI/ML to personalize customer experiences. AI/ML helps to improve the customer experience by making it easier for customers to find the products they are looking for. Additionally, it helps in increasing sales by recommending products that customers are likely to be interested in.
•Fraud detection: AI/ML helps organizations detect fraud, protect customers, and prevent financial losses of businesses. As a result, organizations improve the reputation of businesses and build trust among their customers by showing that they are taking steps to protect them.
•Automation: AI/ML is also being used to automate tasks in a variety of industries in India. It reduces the workload on employees, freeing them up to focus on more strategic and value-added activities.
•Product and service development: AI/ML is also being used to develop new products and services in a variety of industries in India. It accelerates product development by automating tasks, predicting trends, personalizing offerings, and ensuring quality. Additionally, it fosters innovation, improves user experiences, and cuts costs, empowering organizations to create competitive products and services.
Strategies for Indian organizations to successfully navigate the path toward becoming a digital business, especially in a competitive market.
In India's competitive market, digital transformation is crucial. It involves leveraging technology for enhanced customer experiences, operational efficiency, and agility. To succeed, organizations must align strategies with objectives, prioritize customer-centricity, foster innovation, invest in digital skills, navigate regulations, and collaborate for innovation.
Some strategies recommended for Indian organizations to successfully navigate the path toward becoming a digital business, especially in a competitive market are:
•Adopt a cloud-first strategy: Cloud computing enables organizations to scale their businesses quickly and efficiently, and to access the latest technologies.
•Layered security approach: This approach involves implementing a variety of security measures, such as WAFs,bot mitigation solutions, access control solutions, and encryption solutions, to create a layered defense against cyber-attacks.
•Investment in digital skills: Organizations need to invest in digital skills training for their employees so that they can develop the skills they need to succeed in the digital world.
•Navigate Regulatory Landscape: Organizations must stay well-informed about the specific regulations relevant to their industry and geographic region. This will enable them to develop robust compliance strategies and processes to adhere to standards and avoid costly legal issues and reputational damage.
•Measure Impact and Adjust: Implementing key performance indicators (KPIs) is crucial for assessing the impact of your digital initiatives. Organizations must regularly measure and evaluate their effectiveness against predefined metrics and refine them accordingly. This will ensure that the digital transformation efforts remain agile, responsive, and aligned with the overarching objectives.
In conclusion, success in India's digital market demands customer-centricity, innovation, adaptability, and regulatory awareness. Aligning digital strategies, prioritizing customers, fostering innovation, and navigating regulations are crucial. Data-driven insights and strategy adaptation ensure effectiveness in a dynamic market. Following these principles positions businesses to thrive and deliver value in India's digital era.