“Current Trends in IT Industry”- Mr Sumeet Minocha, Integrated Services Leader, India BU, Wipro Limited

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On 25th September, in an interactive and insightful session with students, Mr Sumeet Minocha talked about the new trends that are shaping the IT industry today. Technologies like Machine learning, Artificial intelligence are completely reshaping the business landscape.  Adding to this, a concept like SMAC, the synergy of Social, Mobility, Analytics and Cloud is driving business innovation and helping organizations improve their operations and target customers more effectively. Today every company is coming up with its own digital strategy. Digital is fundamentally shifting the competitive landscape in many industries and sectors. Companies now need to take critical decisions on how to address digitization. The concept of Digital is all about removing redundancy so that when a company applies SMAC, it is able to achieve the most optimised process. He also spoke about the situation when an organisation struggles from a linear growth stack. In this situation, a company needs to focus on non-linear growth and this is where IT companies are focusing and turning their attention to.

Further, Mr Sumeet spoke about the differences between an IT service company and a product company. Unlike an IT service company, a product company focuses just on the innovation of a product that it deals with, and tries to anticipate the future of the same. However, with the passage of time the space between the IT product and IT Service Company is collapsing. Also, gaining momentum in the IT industry is the concept of Solution Architect which is a combination of both Functional and Technical requirements. Therefore, technology is helping organizations to reach to an unlimited audience by increasing the penetration and reach. Social media has turned out to be a mandate for all organisations today. It is the most important area of focus and has become instrumental for businesses in shaping the consumer decisions. The usability of social media has grown exponentially, providing businesses with an immense scope for increasing customer engagement. Another impact of technology is that gradually every routine job that had a step by step fixed procedure is being entirely replaced by automation and in future, only those jobs which require strategic decision-making will require human intervention.

Towards the end of the lecture, he advised students who have an IT background to connect their experience to the big picture. Only then can the students justify the validity of their experience. Students should also ensure that they join a company which provides them with both operational and strategic experience. In this era of internet, there is an information overload around us. Therefore, he advised students to have a learning attitude and to constantly evaluate whether what they know is just information or has been interpreted to knowledge and wisdom.

 

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