Microsoft Future Ready Event: CEO Satya Nadella said – The world is going through digital transformation amid the pandemic, business will be economical with technology

Pankaj Prasad
Pankaj Prasad 12/01/2022 07:43 IST
Microsoft Future Ready Event, CEO Satya Nadella, Satya Nadella, Microsoft, business

At the 'Microsoft Future Ready Invite', Nadella said on Tuesday that organizations globally are in an era of digital transformation amid the pandemic.

Microsoft Chief Executive Officer (CEO) Satya Nadella said that the world is going through a digital transformation amid the pandemic. Emphasis is being laid on adoption of technology at various levels. In this changing era, with the help of technology, not only will business become economical but it will also help in increasing productivity.

At the 'Microsoft Future Ready Invite', Nadella said on Tuesday that organizations globally are in an era of digital transformation amid the pandemic. Trends such as hybrid work, hyperconnected businesses and multi-cloud environments require a digital ecosystem that knows no bounds.

However, this mechanism requires immediate trust building between the various parties. He said that digital technology is such a force, with the help of which the ever-increasing inflation in an economy can also be reduced. Small or large businesses can use technology to increase their productivity and make products and services affordable. Helping organizations embrace this change is a huge opportunity and a huge responsibility for tech companies like Microsoft.

Metaverse is the next stop, will face-to-face in digital avatar

Nadella said that the Metaverse is the next important step for Microsoft, where people can move beyond the virtual world into a digital avatar. Through this you and I can have a meeting where we are all present without being physically present. The company is proceeding cautiously in this direction. He said that we are talking about creating a digital representation.

Through the Metaverse, we have the opportunity to do just that and bring humanity together. This emphasis comes at a time when Facebook has rebranded itself to Meta. She is spending $10 billion for the development of the Metaverse. Nadella said Microsoft is also working to develop the ability for both consumers and businesses to access the metaverse.

Economy will get benefit of consumer spending: Chandrasekaran

Tata group study N Chandrasekaran said the pandemic has not affected India's long-term growth journey, but there have been delays. Now the economy has opened up completely. I am confident that we will continue to grow and reap the full benefits of consumer spending. India will lead the global growth rate in this decade. "I think the situation in India is very unique. The growth of the country is going to become more important going forward. India has a big role to play.

Citing examples of GST, insolvency insolvency law, reduction in corporate tax rate, strengthening of balance sheets of banks, he said that all these measures were taken before the pandemic. Now huge infrastructure is being built. However, the gap in digital access created a divide during the pandemic. Those who do not have the means and access are left behind.

Time to take advantage of new opportunities like chip design: R Chandrasekhar

Minister of State for Electronics and IT R Chandrashekhar said that India can take advantage of new opportunities in sectors such as semiconductor design, electronic system design and electronic manufacturing services in addition to its core competence in the next five-seven years. The next wave of computing performance is to come from software optimization, semiconductor design, electronic system design and innovations.

He said that we used to be just software providers. Now we can become a hardware provider in the next five to seven years. There may be semiconductor design, e-R&D, electronic systems, design and electronic manufacturing service providers. There is a new horizon of opportunities ahead of our core competence for the last 15-20 years.

Chandrashekhar said the collaboration of industry, entrepreneurs and academia is essential to achieve the goal of a $1,000 billion digital economy. On data security, he said that the Internet in India will always be open, secure, reliable and accountable.

Policies to promote innovation necessary: ​​Kant

NITI Aayog CEO Amitabh Kant said that the policies of the country should be innovative, accessible and progressive. They should be made benchmarks based on the best policies in the world. India is producing three unicorns every month.

Kant said that along with India's growth, there will also be challenges in cyber security. Much work needs to be done to meet these challenges. Referring to the pending cases lying in the courts of the country, he said that without the use of artificial intelligence and machine learning, their number cannot be reduced.

Battle for talent in IT is a big challenge: Rishad

Wipro Executive Chairman Rishad Premji said that the battle for talent in the IT sector is the biggest challenge. Due to the demand-supply gap, IT companies are making efforts at multiple levels to hire and retain employees. I would go so far as to say that the biggest challenge for the industry is the best talent. A huge amount of time and money is being spent on skilling people and enhancing their skills at the industry level.

Growth rate will be 7.5% this decade: Virmani

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On the other hand, in the program of PHDCCI, former Chief Economic Advisor Arvind Virmani said that the economic growth rate can be 9.5 percent in the current financial year. The average growth rate for this decade will be 7.5 percent, with a difference of up to half a percent. He said government spending and exports are high, but private consumption has not improved due to the pandemic. The economist said, India's GDP growth is now positive, but is lagging on the employment front. 

Category: Business