The year 2022 saw enterprises pushing the pedal on exploring 5G use cases and devising plans to leverage its potential. During the year, enterprises across sectors deployed new-age technology solutions such as AI/ML, big data, AR/VR, cloud computing and robotics to enhance their productivity as well as business. Amandeep Nagpal, Dean, Centre for Advanced Training, Lovely Professional University, shares his views on key technology trends, the opportunities opened up by 5G, challenges in digitalisation and the way forward…
How are new-age technologies such as AI/ ML, big data, AR/VR, cloud computing and robotics transforming the enterprise segment and fuelling Industry 4.0? How are you leveraging these solutions?
New-age technologies play a significant role in Industry 4.0, characterised by integration of advanced digital technologies into traditional manufacturing and industrial processes. These technologies are driving the fourth industrial revolution by enabling businesses to collect and analyse data, deliver accurate predictions, and automate processes. This leads to efficient, flexible and responsive operations and enhanced personalised customer experience. Such technologies are transforming the enterprise segment in several ways including:
- Automation and optimisation of business processes: AI and ML are being used to automate routine tasks, improve customer service, and optimise supply chain management.
- Improved decision-making: Big data analytics is being used to gain insights from vast amounts of data, enabling businesses to make informed decisions and improve their operations.
- Enhanced customer engagement: AR and VR are being used to enhance customer engagement by providing more immersive and personalised experiences.
- Increased collaboration and productivity: Cloud computing and collaboration tools are allowing for remote work and increased flexibility, and robotics is being used to automate physical tasks, improve efficiency and reduce costs.
- Increased scalability and flexibility: Cloud computing provides businesses with scalable and flexible infrastructure to support the deployment of these technologies.
What opportunities has 5G opened up for enterprises in India? How do you plan to leverage its potential?
5G is expected to open up several opportunities for enterprises. These include:
- Increased connectivity: 5G is poised to provide faster and more reliable internet connectivity, enabling businesses to improve their operations and better serve customers.
- IoT and Industry 4.0: 5G will enable the widespread adoption of IoT and Industry 4.0, allowing businesses to collect and analyse large data, improve automation, and deliver accurate predictions.
- AR/VR: 5G will support the use of AR and VR in various applications such as training, product visualisation and remote collaboration.
- Remote working: 5G will enable more seamless remote working and collaboration, by providing high speed and low-latency connections to employees working from different locations.
- New business models: 5G will enable the creation of new business models, such as cloud gaming; immersive experiences such as VR tourism, virtual training and product visualisation, and smart cities; telemedicine; autonomous vehicles; remote manufacturing; and drones for use in a variety of applications such as delivery of packages, monitoring and surveillance, and agriculture. Such new business models enabled by 5G will open up new opportunities for companies to provide innovative services and increase their revenue streams.
What, according to you, will be the key digital trends that will reshape the enterprise segment in 2023 and beyond?
Some of the key digital trends that are expected to reshape the enterprise segment in 2023 and beyond are:
- AI/ML: AI and ML will continue to be major drivers of digital transformation, with businesses using these technologies to automate routine tasks, improve customer service, and optimise supply chain management.
- Big data and analytics: Businesses will continue to collect and analyse large amounts of data to gain insights, undertake informed decisions, besides improving their operations.
- Predictive maintenance: The use of ML to predict when equipment is likely to fail and schedule maintenance before it happens will reduce downtime and increase efficiency.
- Smart factory and Industry 4.0: The use of digital technologies such as IoT, AI and robotics to create smart factories that can automate, optimise and monitor production processes.
- Digital twins: The use of virtual models to simulate physical systems and processes in order to optimise performance, identify potential issues and plan for future scenario.
- Blockchain: The use of blockchain technology to create secure and transparent supply chains, track products and improve trust among different stakeholders.
- Extended reality (XR): The use of XR technologies such as AR/VR and mixed reality (MR) in various industrial applications such as training, product visualisation and remote collaboration.
- Hyper-automation: The use of advanced automation technologies such as AI, RPA and low-code platforms to automate a wide range of business processes, from simple tasks to complex, knowledge-intensive work.
- Multi-experience: The use of multiple digital touchpoints and voice assistants to provide personalised and immersive experiences for employees and customers.
- Autonomous things: The use of autonomous technologies such as drones, robots and self-driving vehicles to automate physical tasks and improve efficiency.
- Zero trust security: The adoption of zero trust security models that assume that all network traffic is malicious, and that all users and devices must be verified before accessing the network.
- Cybersecurity: The use of advanced cybersecurity measures to protect industrial control systems, such as the use of encryption and machine learning to detect and prevent cyberthreats.
- Edge computing: Edge computing will become increasingly important as businesses look to process data closer to where it is generated, reducing latency, and improving performance.
- 5G: 5G networks will become more widespread, providing faster, more reliable internet connectivity, and enable the use of new technologies such as cloud gaming, VR and autonomous vehicles.
These digital trends will play a major role in shaping the future of the enterprise segment and help companies optimise their processes, improve efficiency and reduce costs. Companies that can quickly adopt and leverage these technologies will have a competitive advantage in the marketplace. This is expected to lead to more efficient, flexible and responsive operations, and a more personalised customer experience.