Is 3D printing the next big thing?

3D Printing We’ve all broken things only to find that the item is no more in the market and cannot be replaced. We’re in that future now where we can create a replica of it with just the images that we have. But how many of us knew that the solution to this, the technology of 3D printing, has been existing since the 80’s?

 

Yes! technology market research reports say that although 3D printing only began catching the attention of a wider public a few years ago, it has been lobbying around for long enough now. It has gone big and is being looked upon as a radical solution to a multitude of existing problems today did not exist a decade ago.

Although relatively new, the technology of 3D printing is based on a very simple idea of piling up a very large number layers of images to scaffold a three-dimensional structure. It’s now easy to understand why the concept is also referred to as additive manufacturing (AM). Ever since its advent, the 3D printing market has seen no halt in its soar and numerous possibilities are being unveiled each day.

What can 3D printing do?

3D printing was primarily introduced for prototyping certain products but is now being used for production-ready pieces. In fact, it has become so mainstream that many people have started owing their own 3D printers at costs that are not very astronomical. 3D printing doesn’t require sophisticated equipment. You can use an ordinary home PC for an input, it can then be connected to a 3D printer and you just have to sit back and watch.

3D printing complex structures may take up to 12 hours but a segment of the heart like the Aorta can be printed within 20mins and be used to alter implantation models and medical devices. Global 3D Printing Market Research Reports show the employment of the technology not just in healthcare but also in numerous other sectors. It has been used in education to empower children to turn their imagination into real-world objects, it has been used to manufacture automotive parts and is expected to be a part of space travels soon.

But, how does it work?

Traditional manufacturing involves modeling parts of a product separately and then assembling them. For instance, in a bicycle, the handle, the wheels, everything is manufactured individually. However, 3D printing eliminates the needs of joining tools. It simply produces the whole product as one. As complex as it may sound, the production process is very simplified and the manufacturer incurs much fewer costs.

The image is first segmented into thousands of little slices and then reconstructed into 3D. It can be visualized as a baker cutting a loaf of bread but in reverse. Each one of those bread slices joins together to make the loaf.

Every household item, every medical device, every item around you can be 3D printed. The technology’s employability is not even material-specific today.

Are there no limitations?

Today, if you are a product designer or an engineer, 3D printing may be fascinating for you. But it is not so for the common man, Market research reports say that most items of the current day are mass produced. But with 3D printing, this hasn’t been accomplished yet. The smooth finish of industrial materials remains unmatched.

However, these challenges are expected to be overcome over time. 3D printing is predicted to be the next big thing and will soon go mainstream in households and various business streams.

 

Is the automotive industry now creating more jobs than IT in India?

Automotive IndustryWhile everybody looking to make a big career move sought the best opportunities in the IT sector in the past, there has been a paradigm shift in the favor of the automotive industry.

The globe has witnessed a fall in the number of unemployed over the past few years in a number of its regions. This has been in part due to the availability of better media for awareness and urbanization of the remotest areas. But a part of it has also been due to the improvement of the various industries themselves. A better developed, expanded and growing industry has more space for both, skilled labor and raw talent.

However, information technology, that once has the best job categories and prospects, has seen a considerable decline. Massive layoffs across the multi-billion-dollar sector make the future possibilities for employees appear bleak.

Why hasn’t the IT sector been able to create more jobs?

  • The existing redundancy
  • Lack of skilled labor
  • The growth of the West

In the past, a number of foreign companies contracted their work to strong Indian IT firms like the Infosys and Wipro. So, every computer engineer who had the necessary skills had a job in hand. But now, automation has taken over all clerical tasks. The job profiles that are now vacant in the IT sector require in-depth knowledge of technologies like cloud-computing, robotics and a lot more. Since most engineers honed here do not taste this in their years of education, they aren’t job-ready.

So, although the IT sector continues to grow, job prospects for the natives are receiving a plummet. It is noteworthy that although technology is being integrated at a matched pace in the automotive market too, job prospects there are continuing to thrive and are, in fact, on the rise.

How the automotive sector has overcome this

While the IT sector is receiving a boost from the west, India is moving on towards becoming the third largest auto market in the world. All this with the new approach of going completely electric by 2030. This means that the automotive sector is heated up with processes of producing conventional engines and EVs going on in parallel.

A pervasive research highlights the need for a large workforce including both, accomplished individuals and fresh graduates who can be trained. This is because the whole industry is gaining a new face where ideas of the new generation are as welcome as the admin power of the existing luminaries.

Will this contribute to the growth potential of the country?

Considering the BRIC economies, it has been observed that countries other than India, in their developing phase, had a majority of people employed in the fastest growing sectors. This had a majority of the workforce being involved in contributing towards a quick rise in the GDP. But, as a worrying trend, India hasn’t been doing so say the chief economists of our country.

Moreover, market research reports claim that, of the total number of businesses in India, most work with an employee strength below 10. This data can be misleading. In our nation, this category is dominated by individual workers and freelancers. These are not as good a contribution as mid-size businesses actually are to a nation.

With growing opportunities in fields growing apace, a greater proportion of the population trying to leverage them will surely be a boost to the nation’s economy.

 

Better healthcare facilities but a poor patient experience?

 

 

healthcareThe healthcare industry has progressed a long way to reduce mortality rates and provide innovative solutions to disease diagnostic and treatment-related challenges. However, there continues to be a sense of worry when patients approach the hospital setting. This is irrespective of whether it is a general OPD visit or an admission for surgical procedures. Why does this situation continue to prevail and what can technology do to improve it?

The context of “consumer experience” in the healthcare industry

Experience is everything. You cannot have a brand-new car with multiple new features and a bad road to drive it on. The comparison may not be a direct parallel, but the situation is pretty similar. Technology has indeed powered today’s healthcare facilities with abilities that were only a patient’s dream a few years back. But the road to avail that service is not friction-less yet.

Market research says that the healthcare sector, as an entirety, scores very low on the Net promoter score table, a score that measures the likelihood of a customer to return or recommend a particular company’s service to others. This is definitely not a good sign.

What does it lack? When a customer is taken in for an invasive procedure, he may be comforted by the auto-regulated room temperature and a decreased complexity of medical instruments. But after the whole process, billing and discharge from the hospital is a mess because the patient has an insurance policy that covers his expenses but this could never effectively be communicated to the concerned people.

So, the first point of trouble recognized is the siloed nature of interaction channels.

Next, most doctors, especially the experienced ones, do not agree that a patient must have complete access to their health data. They believe that the patient may make wrongs decisions devoid of their advice.

This creates a high dependency of the patient on the healthcare system even for minor decisions that can be resolved at the point of care.

This hinders the process of a patient learning his own body. Instead, there must be a system where patients can rather communicate with their doctors effectively even from a remote setting. Not only will this help a person in understanding his own body better, it will increase their responsiveness to any change in their health conditions.

Can technology improve patient experience?

The next frontier in health technology is to improve patient experience. The dysfunctional healthcare system can find its ray of hope in the various innovations of the current day that aim at revamping the system to a more integrated model. The approach is to build relations. Transactions will follow.

  • Telehealth
    The trial phase of this technology is nearing an end with most medical institutions adopting it as mainstream. People have adapted to it willingly. So much that there are companies that even provide telemedicine-based genetic counseling from the actionable information acquired through their genetic tests. This is particularly valuable for cancer patients. Individuals usually wait long queues for such sessions. The wait time is now cut-down significantly increasing patient satisfaction.
  • Wearables
    Wearables allow their users to track their vitals. And more, now pregnant mothers can even use wearable to track the vitals of her baby. The technology of wearables is constantly evolving a plethora of its utilities are now being tested. This allows a person to be actively involved in his own care process. He is not dependent on his doctor in all situations.Wearables combined with telehealth services can allow a doctor to keep constant track of his patients and advise them instantly when things are about to take a wrong turn. Health risk mitigation is thus made more effective.
  • Software that can compare the costs of various services
    There are now apps that people can use to compare costs of various insurance policies available for the same coverage amount required. It has been noted that only if a person finds the service worth the money spent will he recommend it to others.When a patient purchases a policy, information can quickly be relayed to his usual clinic. The communication between every person involved in the healthcare network is bettered and each entity is aware of the situation at every instant. This builds an integrated base for the healthcare facilities to function on.

It has thus been established that functioning well with proficient doctors and administrative members isn’t sufficient. There need to be tools that can minimize the troubles a customer faces in the course of approaching and availing these services.

Is technology disrupting the market research industry?

If technology is a boon or a curse is the most debated topic in the current generation. While machinery and devices developed from scientific knowledge have varied applications in various sectors, the implication is that it has been disrupting the traditional methods. Technology that aids the better organization and analysis of data also takes away the jobs of data collectors and analysts. Tediously repetitive jobs requiring minimal creativity that were assigned to the unskilled laborers are all now automated. It is indeed true that some job titles have been given away to automated machines and the number of people required in a workforce has been decreased. But, does technology have the potential to uproot an industry as a whole?

Technology and the field of market research

Better accessible software for DIY research

Market research is claimed to have highly benefitted from the availability of better tools for the curation, distribution, and analysis of market data. But, on the other hand, many of these tools are easily available and have affordable, if not open, access. They are also convenient to use rather than featuring complex algorithms. Some software might only require data from you and evaluate all the parameters that you want to assess; the output being identified patterns, forecast data or concept validation.

Moreover, such aids allow a business to collect data like consumer behavior and feedback in real time. In the fast-paced business world where trends change without a prior hint, this will be highly preferred. This is what makes businesses invest in software rather than hiring research professionals. Not only does it make their project more affordable, it also reduces the dependency of the company on a third party.

Technology has also replaced human work within the market research industry. Text analysis sample selection and management and survey questionnaire creation and many other tasks can be accomplished using computers.

Complex consumer behavior

An indirect negative impact of technology on this turf is that consumer behavior is becoming increasingly complex. In today’s consumer-oriented market services are highly inclined to favor the will of the consumer strata. The purchase decision-making process that previously meant only a few clicks does not remain the same anymore. Return and refund policies, cancellation policies all of them add to the complexity of the whole buying process. Buying habits have thus drastically changed. It is difficult to accommodate such data in the conventional analysis formulas.

At this cusp of a dramatic change, existing market research companies are seeking a way around this problem.

The optimist’s viewpoint

What market research professionals need to understand is that the newer concepts are not destroying the idea or need of market research altogether. What automation and technology replace are the market research methods. Researchers must focus on lowering their costs, enhancing the accuracy of their research and improving on the speed by themselves employing improvised versions of the analytic tools. They must look to thrive the test of time and the dynamic market trends.

 

 

 

Rethinking the potential of Artificial Intelligence

Artificial IntelligenceMachines, that are increasingly getting smarter than human beings, are taking over the world and are greatly reducing the dependency of various business operations on manpower. The artificial intelligence technology market has been able to inculcate some highly complex systems in them that function to help accurate and smart decision-making. Although computers or other evolved devices are not capable of innovating yet, they have been successful in optimizing the utilization of the existing resources to a great extent.

There are some really powerful examples to support the high-utility claims of Artificial Intelligence. The virtual assistants in the current-day smartphones come with voice recognition capabilities and can also perform various tasks with their pseudo-intelligent persona. Cars like Tesla have self-driving features and give their consumers a world-class experience with added security from their predictive capabilities. With such a great potential of AI already unveiled, what can be expected from its future?

More value from your data
An Artificial Intelligence -enabled business comes with an added value. The technology learns from your behavior; from your use of the various devices to perform incidental tasks. This means that companies who haven’t been able to put all consumer data to use may now be able to derive benefits. They might be able to send automated and personalized recommendations to a customer based on his/her past shopping behavior. This technology can also be exploited for enhanced cybersecurity. Spam emails can be recognized and cybercriminal attacks can be mitigated.

Freedom from menial tasks
This also means that you don’t have to look for unwanted emails and mark them spam or manually send newsletters weekly. These tasks can be automated or scheduled to be performed when required thus freeing you from repetitive tasks. But, does an increased extension of automation mean a loss of job opportunities for people?

It is true that machine learning algorithms eliminate the need for performing a number of tasks manually, but they also bring in new work opportunities for employees. The job descriptions will, however, differ greatly from the present-day vacancies. The created opportunities will require a foresighted vision and an innovative perspective along with critical thinking abilities. These are the characteristics that cannot be associated with machines even today and require human inputs.

A higher efficiency for business processes
To err is human. But machines are not prone to particularized discretions and only function as programmed. So, automated or linked tasks that are supposed to be performed at specific timings are more efficient when performed by a machine thus granting an increased productivity. Although this may have a high initial cost, the returns from them make it worth.

An automated world with no obstructions?
Market research reports often show a rosy image of AI’s future, but there is more to it. Technology advances apace but it takes businesses time to understand the best use of it. Today’s situation of AI can be compared to the 20th-century situation of the commercial internet. Companies are still in the experimental phase with AI and the true potential of it is yet to be uncloaked. Moreover, AI is not all about perfection. In fact, since they do not have the ability to take circumstance-based decisions, they cannot be expected to be perfect. Public interaction with this technology is yet to be detailed and securing processes based on it is yet to be complete. Although short-term high-benefit impacts are associated with the use of AI in fields like healthcare and e-commerce, some human-operated processes still remain unmatched.

5G to increase the feasibility of remote surgeries

Remote-surgeries5G technology is expected to swipe people off their feet by 2020 by revolutionizing various industries and transforming them altogether. This is particularly raising hopes for development to a great extent in the field of healthcare. A considerable proportion of the global population doesn’t receive timely treatment till date. This is majorly either due to the lack of efficient professionals or due to inaccessibility caused by various reasons. To overcome this hurdle, a group of experts has formulated the various possibilities of exploiting the lightning-fast speed of 5G. The most fascinating of them is a remote surgery!

What makes a remote surgery possible?

Remote surgeries have been under research for a long time now. The major risk in putting it to use is its complete dependence on the speed of transmission of data from the surgical room to the doctor.

Integration of IoT provides the idea of remote surgery with the much-required data throughput for machine-machine interactions. Virtual reality equipment like haptic gloves can be used by the surgeon for sensing while a robot operates on the patient.

Other innovations with 5G

Wearable devices

With the introduction of 5g, market research says that the industry of wearables will begin to burgeon. It makes the transfer of bulk data possible with a highly reduced latency. This will provide your fitness tracker with an exponential computing power allowing you to make instantaneous and tactile decisions.

These devices can also be made capable of transmitting data to the patients’ respective physicians so that their health-related information can be collected in real-time. Not only will this ease the handling of data but will also facilitate customized treatment for the patients.

Telehealth

5G paves way for a better healthcare delivery system. Doctors from over the globe can be connected to their patients virtually at any required instant. This will also restrict the expensive inpatient care to individuals who actually require it saving the time of both; the patient and the professional strata. All diagnostic imaging can be sent over to the doctor via internet and opinions can be sought for quick decisions and a timely treatment. The technology will also greatly reduce the cost burdens on individuals who seek a second opinion

No compromise on the security of personal data

The roll-out of a new technology is governed by regulators and policymakers. The ability of these technologies to effectively serve the field of healthcare will be judged by the FDA. Moreover, the various concerned authorities must agree on technical standards to prevent any compromise on the individual’s privacy.

The advent of the 5G network thus promises improved results with healthcare services.

 

Does virtual reality have a purpose beyond entertainment?

virtual realityVirtual reality has been extensively exploited in the field of gaming. Computer generated scenarios are used to transport gamers on the play turf to give them a realistic adrenaline-high experience. But is a technology so innovative restricted for use only in the entertainment industry?

Contradictory to the popular belief that VR is solely employed for providing amusement, it has driven numerous opportunities for people with different specializations.

VR and researchers

Market research

Surveys and interviews form a major part of traditional consumer behavior analytics. Although marketers acquire useful insights from them based on patterns, not all data consolidated using these methods is always reliable. Setting up pop-up or trial stores to understand the liking of the consumers adds on to the burden of expenses.

With virtual reality, respondents can be shown the store virtually and their responses can be tracked instantaneously. Eye-tracking software can be integrated with VR to understand what category and designs of the products interested them. Added interactive features like pick-up or add-to-cart can also measure the depth of interaction.

In amalgamation with neurological studies, this technology can capture what the consumers subconsciously think of the arrangements while making the experience interesting for them. Since most shopping decisions are subject to change when actually browsing the aisle in reality, this technology has an upper hand over the conventional techniques.

Scientific research

The convenient and affordable innovations in technology market integrated with the medical field have revolutionized the way healthcare assessments are conducted. VR is of particular help in studying mental health, an issue often undermined.

Measurement of responses in artificially stimulated environments can help study behaviors of patients who are a victim of mental or behavioral disorders. Along with diagnosis and analysis, VR also has a contribution in therapeutics. Corrective environments can be created for the well-being of these patients.

Teaching with VR: Remote study environments

Collective learning:

Virtual reality can be a staple tool for education. It can deliver quality experiences for students from over the globe who did not previously have access to learning material. They can have a classroom experience if VR allows the connection of multiple users on a platform with the facility to display presentational content.

Demos:

Reading material about various mechanisms or experimental procedures is often not comprehensive enough for practical situations. Quick VR demos can train the learners more efficiently. They don’t just have to watch or listen but can perform actions in the virtual environment. Many complex concepts can thus be better delivered with creative content suited for VR.

The convergence of VR and IoT

Management

The combination of VR and IoT is particularly appealing for engineers and architects who generally rely on 3D models to understand the nuances of a situation. They can now have access to simulated real-world data to see how their structures will perform. This data can be acquired from a circuitry of imaging and sensory systems.

VR and IoT in combination can also make ‘Telepresence’ possible. Professional communication over long distances will thus become more efficient. Creating a real-world space with VR can create an illusion of all the participants being present together. Each one of them can engage better and get more out of the gathering.

Healthcare

The VR and IoT mix allows room for minorly invasive surgeries to be performed even when the doctor is away from the patient through tiny cameras and precision tools. The patient will also be benefitted by the fact that with these imaging techniques even a small incision is capable of giving a good enough view of the area on which the surgery is being performed.

However, the reliability of these procedures on the speed and consistency of the internet is deemed very risky and isn’t in use currently. We’re still at the scratch of knowing and being able to exploit virtual reality. A drastic surge in the utility of the industry is expected in the upcoming years.

What Influences the Growth of the Automation Industry?

Automation IndustryIn the current day’s fast paced world, only innovations can ensure the stable growth and sustenance of various enterprises. Integrating their businesses with developments in the technology market avails them competitive advantages and a higher efficiency.  Incorporating technology into the service design and production processes for every firm is what the automation industry strives for.

Automation, that has been lobbying to enter the global market, has thus been pushed forward by the recent economic trends. The potential impact of the automation industry is wide-ranging.

The driving factors for automation

Automation as a service has gained popularity due to its ability to augment productivity in a cost-efficient manner.

Big data

Big data is capable of transforming all traditional businesses. No matter what field you operate in or how crude your firm is, you’re constantly collecting data to study consumer behavior. And, with the globalization of businesses, you’re interacting with people from various ethnicities and geographical regions. This means that your competitors are also placed around the globe. This brings along its own challenges.

Analyzing all of this information, detecting trend patterns and making business decisions can be a difficult job. Computerization and automation of these tasks aid the growth of your business with saving time.

Security and management

Cyber security and safeguarding your edifice can both be automated. Security systems can be integrated, and data from all of them can be stored on a single device. Multiple people will not have access to the security system credentials. This will guarantee a more efficient protection plan. With criminals working for newer ways to hack into your systems, technology will evolve with better solutions. Operations that occur outside the walls of the enterprise can also be tracked using technology like sensors. This will issue alerts thus warning you of a potential attack.

With a paper-less model, management will be more efficient. Employees can track their progress, targets, or even payments on self-service portals. Online training courses can be organized for them to upgrade their knowledge. In the future, hazardous tasks can possibly be assigned to robots or machines programmed for that very cause.

Repetitive tasks

Rote tasks are common in a production industry. Assembly, packaging, and other processes that require a high level of uniformity are generally automated as humans are prone to error. However, technology can also be integrated into other tasks that require timely action. Locking down facilities post office timings or time-tracking for employees can be done using automated-systems. Supply chains can be optimized using logistics automation too. Reducing manual labor not only cuts-down on the costs but also makes the operations less error-prone.

Current market overview

Progress:

Global market research reports suggest that the growth of the automation service providing industry is the greatest in developed nations owing to their mass production processes. However, there is no region this industry hasn’t ventured into.

The world is shifting from a paper-based era to a digital one. Signatures and documentations done through automated systems like computers are welcomed and also highly appreciated. Employment opportunities from a region can be placed at a global platform to attract employees from all around the world too.

Telehealth is also a budding field. People can now receive health advices from a live-chat expert or order drugs on the internet when they are sick away from home.

Challenges:

A major challenge for automation is introducing it on the customer end. Utilizing bots to interact with customers would seem to them like the company isn’t interested in engaging with them. With the current level of technology, bots cannot be trained to work the way humans do. While they can be programmed to understand certain jargons or technical terms, their translational mechanisms wouldn’t be capable of interpreting the varied vocabulary and slangs used by the general consumer stratum.

Although a customer would be interested in making quick bookings or travel reservations, he would surely want to rely on a human-agent for consultations and queries.

Only pattern or trend-based decisions can be made using automated systems. The innovation and research sector is still in need of manual labor. Also, most automated actions still have a human fail-over option.

 

Resolving BFSI Security Threats with Technology

In today’s digital ecosystem, innovation in the BFSI sector is highly driven by technology. Making new platforms available for their products and client lifting has been greatly aided by newer developments in the IT sector. Global market research reports suggest that the mobility of all kinds of banking services has improved greatly post the introduction of internet and mobile banking facilities.

The use of AI bots allows various firms to offer live chat support to their customers. The same technology is also employed to study consumer behavior thus guiding the company towards better customer-oriented services. The efficiency of these services has increased appreciably. However, there also prevail serious threats from technological advancements plaguing the finance and banking market.

1.      Cyber threats

With a staggering rise in the accessibility of internet, electronic platforms for all BFSI services are in high demand. This way, the security information of these enterprises is in grave danger.  Banking services are expected to face growing challenges as their computer information systems are constant targets for cyber attacks. Threats in the form of phishing, malware, or DDoS are on the rise and are getting more sophisticated.

2.      Mobile banking risks

The controls programmed to protect the traditional online banking do not go well with mobile phones. This makes the functionality of mobile banking apps fairly limited. With the growing connection between social media and our cell-phones, it has become all the more important to mitigate confidential-data leaks. The company’s own employees might take up to these sites to intentionally expose sensitive information.

3.      Fraudulent transactions

There is a great rise in customer grievances with their bills and passbooks indicating transactions they never made. These are usually done to obtain products from online stores without paying for it or to acquire funds from the bank without the knowledge of the account-holder. Third party breaches like these are a great burden to the service provider.

4.      First-party fraud

BFSI products include loans; in the form of credit cards or general loan schemes. When financial service providers lend loans, they have to ensure minimum risks to the money that the other customers have entrusted them with. But a number of people take loans with no intention of repaying it. These people usually misrepresent themselves and apply for loans with false identities.

5.      Attacks from an insider

Disgruntled employees are usually the ones responsible for an inside attack. A compromise of internal information has the ability to destroy an organization completely. And access to such sensitive information is not well regulated.

However, at times, employees are also targeted by cybercriminals and may not actually be the brain behind such incidents.

Boosting security with technology

The technology market can be expanded to provide the following security solutions to BFSI enterprises:

  • Better authentication methods to prevent unauthorized transactions
  • Penetration testing and advance vulnerability scanning
  • Block chain deployment
  • Simplifying the banking architecture

What are the benefits?

The BFSI security landscape is dynamic. And, the perks of integrating technology with it are many

Technology makes security solutions more efficient

Computing big data is time-consuming and to err is human. Machine learning and other technological advances work greatly to save your time in various business operations and also make them less error-prone.

The status of your security system becomes more accessible

Most security systems can be integrated and accessed on a single computer or mobile phone. All data can be saved on the same device to be referred to at a later instant.

It helps you anticipate potential problems

Identifying, tracking, and analyzing attacks are easier with technology. Primed by past criminal behavior, computers are quick at notifying the owner about potential threats to their systems.

Technology evolves with crime

All intrusion techniques have a shelf-life. So, cybercriminals are constantly working on newer ways to hack your systems. Technology is advancing at a quick pace and evolves with the criminal’s mind for better solutions.

BFSI security is sitting on the dearth of technological intervention. Integrating technology into this field with catalyze the growth of BFSI services by reducing the number of hurdles. The industry can be thus be transformed with better innovations in terms of security solutions.

How AI technology is influencing the IT markets in India

India has been the IT hub in the world for past many years. Adoption of AI changes the face of IT industry.

The development of AI technology has made its way in the tech firms driving an increased productivity while subsequently remaining cost friendly. With this, the Indian IT workforce has started feeling the impediment and the pressure to stand the competitive edge of the automotive industry. We’ll see these factors in detail through following points.

A disordered industry says reports:

A market research report on IT industry forecasts more than 60% IT jobs to be possibly eliminated. It may also affect the finance and accounting jobs with the Artificial Intelligence getting subsumed in the field.

The impact of AI in several industries has not ended in the IT sector, it further spreads in several other sectors with more than 30% eliminating ratios being predicted in other Indian services industry. Even the major market players in the IT industry are likely to reduce the number of recruitments of graduates from several Indian engineering colleges due to automation taking place.

The positive implications:

The installation of automation is not necessarily unwelcoming in the IT job sector.  AI is not putting an end to the IT jobs, however, it is forcing people to adopt the new technology. Due to this, people have started emphasizing on the areas which require creativity, high thinking, and human interaction. If one says that AI is eliminating jobs in the industry, it is also true that it is creating new jobs for the people broadening the horizons of human intelligence.

Re-skilling the workforce is undoubtedly going to be a cloud on the horizon for many and hence people unable to reskill the personnel is going to be under pressure which perhaps, would become an enduring factor for the organization.

The future of lower part of the business pyramid: 

Instead of getting too many people on the board, industries have started recruiting handpicked freshers and shifting to reskill of the existing employees or, they prefer recruiting onsite. The bottom-level jobs are reduced as the lower level work is getting automated.

Installing automation in various fields has reshaped the respective industries while now, turning to the IT sector. Any field involving repetitive tasks better performed with systems is on the verge of laying off the jobs.

The focus of companies is moving to the introduction of automation across the projects since the traditional services are will cost a pretty penny while looking at its alternative option, the application of technology.

Industries are scrutinizing the funds spent on the full-time employees and how it can be utilized for the maintenance of applications and systems, BPO, infrastructure management. This may give better output eventually enhancing the operating margins.

Some of the companies are releasing employees to train them to work on advanced projects. It is helping them to put optimal utilization of available resources and technology.

The counterview:

A contrary perception of the impact of Artificial Intelligence put forward points encompassing the traditional manpower-linked model of the IT sector. According to this viewpoint, the AI impact predictions are more of hypothetical than the reality. A noteworthy portion of the IT industry will undergo automation but not overnight! As some people foretell the transformation within next 3-5 years, is not going to be the case, in reality, it will take time.

The impact of artificial intelligence is perceived in a very negative way, however, people need to understand that automation impact does not refer to getting people out of their job. There’s much more to the concept. The adoption of AI technology inflates innovations and allow people to broaden their view of technology. This ultimately drives revenue per employee. It will be interesting to see how the Indian IT industry welcomes the change and reshapes the working structure.