Hyderabad, June 25th, 2021: Institute of Management Technology, Hyderabad, organized the fourth session of the Management Orientation Program “ABHYUDAY” with Prof. Renato Pereira, a professor from ISCTE Business School, specializing in entrepreneurship, innovation, and international business. The speaker developed on the premise, “Emerging technologies in businesses.” The event began with Prof. (Dr.) Nikhil Rastogi introducing the eminent speaker to the students, highlighting the kind of disruptions that are taking place in the world of business today and how that is panning out in times like the present.
The speaker in his address started by wishing the incoming batch success and highlighted the underlying importance of emerging technologies in the business world and their relevance. Since the world is undergoing rapid transformation with the technological advancements and effects of globalization at play, Prof. Renato Pereira talked about the role of technology in times of crisis, like the pandemic we live in.
He stated that the internet explosion and the big five players - Microsoft, Amazon, Google, Apple, and Facebook - underwent a millennium transformation and are creating a sense of world transformation. And the pandemic only provoked the system where there was that matrix of transformation. Real-time travel was halted, but the business continued to operate since the available technology was embedded in its procedures. Thus, globalization and the use of technology on a larger scale came together to the larger scale of adoption, causing a shift to ‘the new normal.’
The New Normal as the world has it is moving towards a direction where there are mobility barriers, and the state of digital communication is on the rise. He also stated that inadvertently, taking the leap causes a shift from global players to more and more regional players. The pace at which globalization held its ground, he quoted, is past its peak and now is only going ahead in a reverse fashion.
He also discussed Brexit and how it served as a game-changer in the market. A sense of competitive advantage rose to the occasion; however, the privacy threats and business risks that came with it require attention and severe security measures. The speaker talked about how digital technologies impressively impact the world-be it IoT, AI, Blockchain, how much can be gained from these technologies, and their productivity gaps.
Gartner’s cycle is the representation he employed as a classic example to explain the peak of expectations and the promise of value attached. He also suggested that AI is the hot space in
the rapidly changing times since it helps increase our current qualities even further. It is working well in the broader framework because it further encompasses networks like IoT, which holds very little ground by itself. By delving more into the trends and themes based on Gartner’s report, he also gave close consideration to it.
The discussion further gained specificity in the business-centricities in terms of people and relevant technologies supporting this system. He also ascertained that the students make the best out of the various opportunities in their respective career paths. Towards the end, the session concluded with a vote of thanks proposed by Prof. (Dr.) Nikhil Rastogi. He expressed his sincere gratitude towards the speaker for such an enriching session and for sharing his knowledge, which would surely come in handy for future leaders.