Click here to Login

ABOUT EVENT

Confederation of Indian Industry, Eastern Region is organizing the 20th ICT East with the central theme “Rethink with Technology to Reset Business Growth” on 23-24 September 2021 on CII Hive Platform.

The pandemic has brought about a sea of change in the way companies across sectors are doing business.  Digitization took prime spot in their strategy landscape and is transforming core manufacturing or services processes, customer connect, and supply-chain operations.

Companies, to remain competitive in this new economic environment require agility in execution of novel business strategies. The leadership has recognized the strategic importance of technology as an integral part of the business. Cocreation of business and digital strategy is now the rule of the game.  Digital adoption has taken a momentous jump in the new era. Successful leaders are getting prepared to seize the opportunity of digital transformation to advance to a newer trajectory in their business.

During the pandemic, consumers have moved significantly towards online channels. All the companies had to gear up to this need by reaching out to the customers through digital channels. Organisations’ technology capabilities have stood out as one of the major factors of success during the pandemic crisis. The rules for success have changed and are ever more dependent on harnessing the power of digital to create new value and experiences.

Major shift is happening in the technology space.  The time has come for companies to adopt digital business models and emerging technologies to catapult the business transformation. Technologies like AI/ML, Robotics, Data Analytics, AR/VR have forced businesses to strategise for a digital-first world. The leadership needs to reorient digital transformation investments and initiatives to drive sustained, long-term value for the company. It has opened up plethora of opportunities in collaboration with other organisations seamlessly to create a win-win situation.  The shift to digital technologies forces a structural change in the business so that digital transformation may accelerate value creation for the customers of any organization.

The nature and pace of digital transformations will vary across sectors and would be majorly influenced by the digital maturity and capabilities of the companies. The digital transformation can help leadership with better decision making and understand how to add new value through digital based business and operating models, supply chain, innovative revenue models and bridging the skill gap.

The use of technology would add value but would also bring in challenges of cyber attack. Responding quickly to supply and demand shifts would need intelligent and agile operating models with cyber resilience.  Though digitalization offers visibility of the supply chain to enable real-time, data-led decisions but along with that it brings possible challenges due to data leakage and theft.

Companies can apply different predictive data analytics tool to mitigate the risk. A rapid upskilling is needed for managing such cyber threats and also for closer collaboration between humans and smart machines.

Digital technology offers the potential to create societal as well as economic value and demonstrate purpose-led leadership for all stakeholders, while making business models more inclusive, sustainable, and dependable. The current digital evolution of businesses with purpose comes up with the promise of intelligent interfaces and cognitive capabilities that would welcome a new business era.