Technology to drive the future of business
India was prioritizing technology like Artificial Intelligence, the Internet of Things and Blockchain to deliver a future-ready world, according to a FedEx Express study of more than 4,000 respondents in 18 cities.
Approximately 83% believed technology they had seen in science fiction movies is either already a part of their daily lives, or likely to be in the next few years, said the study released on 29 Oct 2021.
With the trend of technology-led change likely to continue, specific industries were identified as major drivers in shaping the cities of the future, with healthcare (35%), infrastructure and logistics (21%), and banking and finance (18%) believed to be leading the change.
“With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business,” said Mohamad Sayegh, Vice President, India Operations for FedEx Express.
“Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future.”
“At FedEx we have a legacy of innovation spanning several decades, and we constantly innovate to create solutions for the world in responsible and resourceful ways. Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future,” he said.
The ‘Future is Now’ study focused on three main views: being dynamic, how India is open to experimentation and innovation, and to what degree the country is sustainability conscious. The findings indicated that future success will likely rely on businesses structuring their approach around these three outlooks.
India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities, said FedEx, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company.
India, noted FedEx Express, has jumped ranks in the Global Innovation Index and is home to a thriving start-up ecosystem that propels transformation with new ideas and solutions.
In an increasingly dynamic environment, success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation. A majority of 91% of those polled in the FedEx survey, believe that organizations, communities, or even individuals who experiment and adopt change are better equipped to navigate through future challenges.
According to the study, three quarters (75%) agreed that individuals, communities, etc. that have a ‘futuristic’ outlook are more environmentally conscious. In fact, 71% of the respondents claimed that, as decision-makers in a futuristic business, sustainability would be crucial and their top priority.
The response from the study participants is clear: organizations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long term.
As the world keeps evolving, technology and trends will likely drive changes in lifestyle, behaviors and attitude. For both businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.
The above findings are based on research fieldwork conducted by Innovative Research Services (India) Pvt. Ltd., Mumbai, through face-to-face and telephonic interviews with 4,210 respondents in 18 Tier 1 and Tier 2 cities. Out of these 18 cities, nine are Tier 1 cities which include Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, Pune, and Secunderabad, while the other nine are Tier 2 cities which include Coimbatore, Dehradun, Gurgaon, Jaipur, Kochi, Lucknow, Surat, Udaipur, and Varanasi. Respondents included a representative sample of people from the above cities aged between 18-60 years.
FedEx Express is one of the world’s largest express transportation companies, providing fast and reliable delivery to more than 220 countries and territories.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of US$87 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. #technology #investment #economy /fiinews.com
