In this era of technology we need to have a keen understanding of how technology is transforming industries and how leaders and organisations can respond to it. On August 25th, Mr Shreyas Bhosale, the Accountant Director of Tech Mahindra, visited SCIT campus to deliver a lecture on “Digital Disruption within Technology Industry”. The guest lecture was organized for the first year students of MBA-ITBM and PGPITBM programme. Mr Shreyas is a commendable alumnus of SCIT and has been associated with Tech Mahindra for many years.
The session started off with him giving us an insight into Digital Disruption and talked about the advancement in the technology due to human behavior which needs change. He talked about the issues, challenges and the way forward for handling digital disruption. He quoted examples of Nokia, Motorola who struggled to stay relevant and failed to capitalize market because of ignoring the waves of digital disruption. Companies who were giants of their time are now trying to avoid extinction just because they did not do enough to sail through the disruptive waves of digital transformation. He suggested that to avoid extinction one should never settle, the people who run the company should be curious and ready to accept change so as to make their presence felt.
Mr Shreyas laid out the drivers for disruption like slowdown in the global economy, Brexit- Domino effect, migration crisis, civil wars and instability. He mentioned that Digital Disruption is an opportunity of a lifetime, but on the other hand it is also littered with risks. It is a radical change in the way it changes businesses and societies. He gave us an overview on how the scenario has changed from IT as cost centric to business growth partner, silos of technology units to full stack experts, Traditional to Agile and Alliances with Big Boys to disruptive start-ups.
He brought to light an interesting discussion of David vs. Goliath where DAVID stands for D-Digitize, A-Automate, V- Va tic-Alize, I-Innovate, D-Disrupt. DAVID is the way to survive and sail through the waves of digital disruption. He discussed about zero labour and no human intervention as the world is moving towards drastic automation which can lead to unemployment.
The talk ended on a high note, with him expressing strong views on growth potential in the field of technology and the survival which depends on how we deal with disruptions and motivated students to remain curious.
“We need to disrupt ourselves and be leaders in disruption — the future is unknown but exciting”.