#automation

Automation to washout 3M jobs

With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employ over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, as per a recent report. Today’s business world is continuously being disrupted – through evolution of new-age technologies, the global pandemic and the resultant lockdown, the list is endless. In such a scenario, no business model can remain standard, no process can remain constant. Businesses must reimagine their operating model, look for better solutions to their problems and keep on evolving and innovating.



Businesses are increasingly integrating new-age technologies in their existing IT infrastructure to make their process seamless and customer targeting effective. This has given rise to a lot of interesting business models such as Insurance Tech, Finance Tech, Education Tech, Marketing Automation, etc. Every function of a business is being reimagined to enhance efficiency and ROI. However, as technology is disrupting existing industries and creating a lot of innovative sectors, the business processes are getting more sophisticated and complex. Now, ‘One solution fits all industries’ kind of strategy is proving to be ineffective and businesses are compelled to look for solutions that are custom made for their respective industries. Technology solutions providers have gazed at this opportunity, and started to customize their solutions as per the requirements of different industries. The rise of industry-specific cloud is one such solution.

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