GL Bajaj Institute of Management & Research. PGDM Institute, Greater Noida organized 5th International Conference on “Digital Transformation, Industry 4.0 and Future of Business” on Saturday, November 21, 2020 under the patronage of Mr. Pankaj Agarwal, Vice Chairman, GL Bajaj Educational Institutions.
The Guest of Honour of the event was Shri Vinayshil Gautam, PhD, FRAS- London, Internationally Acclaimed Management Thinker & Practitioner and the Chief Guest was Shri Anil Swarup, Ex-IAS, Founder Chairman, Nexus of Good. The distinguished speakers of the session were Dr. D.K. Batra, Professor, IMI New Delhi; Dr. Sanjiva Dubey, Professor, BIMTECH, Gr. Noida; Mr. Maheshwer Peri, Founder & Chairman, CAREERS 360; Mr. Nixon Joseph, President & Chief Operating Officer, SBI Foundation, Mumbai; Mr. Vineet Suri, Ex-Vice President Dish TV/Tata Sky and Mr. Dev Kaushik, Founder – ShopView and Vice President – Sidereal Technologies.
The session started with an invocation to Goddess Saraswati. The inaugural session witnessed the release of Conference Proceedings of 5th International Conference. Dr. Ajay Kumar, Director, GLBIMR highlighted that the Fourth Industrial revolution comprised of latest trends in digital transformation such as Big Data, IOT, AI and Cloud Computing. He further emphasized on the importance of technology in different businesses. He also raised concerns and challenges of internet security and data privacy in practical and real world. However, he appreciated how India contributed in the global business during this time of crisis.
Shri Vinayshil Gautam shared that the current world had been passing through a wave of digitization. He further emphasized that digitization requires internet competency, sufficient education, equipments, etc. He also shared that data entry and appropriate use of data had been another road block as incorrect entries by inadequate manpower creates a lot of confusion. He shared that risk management need to be an essential part of industry functioning. He also advised the budding management students to inculcate the ability of resilience in them.
Shri Anil Swarup shared that our country does not had dearth of ideas but the challenge was to implement them effectively. He further emphasized on the importance of educated, trained and equipped human resources to make the best use technology. He also highlighted the challenges in the execution of National Education Policy (NEP) and also emphasized on robust planning at ground level. He further highlighted the importance of social media and suggested that it’s a powerful tool to encourage and appreciate the good work.
During the Panel Discussion, the distinguished speakers shared their viewpoints:
1. Dr. D.K. Batra discussed that Augmented Learning and Machine Learning would replace a lot of routine jobs as a step towards digital transformation in organizations. He also shared that it’s important to remove the barriers between different technologies like AI and IOT to progress further. He also emphasized on the importance of speed and digital technology for expansion and growth.
2. Dr. Sanjiva Dubey discussed ‘Venkatraman Model’ followed by Business Model Innovation and Business Scope Redefinition with examples of IRCTC and OYO hotel. He also explained Digital Transformation implementation through Cube Model which included – Technology, Process along with People, Culture and Leadership. He also highlighted Nine emerging technologies in Industry 4.0 with 5 Vowels approach – Access Technology, Explore Opportunities, Invest in Innovation Process, Operatize to test use, Use Extensively.
3. Mr. Maheshwer Peri discussed about education and use of technology in today’s times. He shared the rapid growth in the use of online education nowadays and added that education sector would use blended learning more often in the post covid era. He also shared that with the advent of technology the whole scenario would be changed.
4. Mr. Nixon Joseph shared that it’s important for youth to acquire new skills and adapt to the changes in the era of emerging technologies like AI and ML. He shared that in today’s time, university degree had lesser value and skills like creativity, innovation, leadership and adaptability would be required more in the future. He also discussed that banks would collaborate with Fintech companies and use of AI and ML would be increased.
5. Mr. Vineet Suri discussed about Supply Chain Ecosystem and also emphasized on digital supply chain like procurement 4.0, smart warehousing, efficient spare parts management and B2C logistics. He also highlighted the increased automation in the changing global production network.
6. Mr. Dev Kaushik discussed about digital transformation and its adaptation by small businesses in present scenario. He explained that small businesses like MSME could leverage the technology and how it would support these small organizations with limited resources.
More than 300 participants from Industry and Academia participated in the event. It was a thought provoking session which gave a new perspective to understand various aspects and also enhanced the knowledge of the participants.
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