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92 Percent Business Leaders in India believe every organisation needs Digital Transformation to grow their Business: Study

Microsoft Asia Digital Transformation Study 2016 has revealed that artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important to digital transformation strategies

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New Delhi, March 28, 2017: A whopping 92 percent of business leaders in India believe that every organisation needs a digital transformation to grow their business, a study has revealed.

The Microsoft Asia Digital Transformation Study 2016 has revealed that emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important and relevant to digital transformation strategies.

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“Today, cloud-powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play. This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” Microsoft India President Anant Maheshwari said in a statement on Tuesday.

Further, 88 per cent Indians believe that cloud computing and decreasing cost of devices make it more affordable for companies of all sizes to access modern technology and help them gain a competitive advantage.

Indians also saw virtual reality (VR) and augmented reality as technology relevant to digital transformation among organisations than the rest of Asia.

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Fifty-three per cent Indians indicated that their organisation had specific digital transformation strategies in place and were progressing in their journey to add digital elements, as against 49 percent Asians.

However, security, lack of digitally skilled workforce, lack of supportive government policies and IT infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India.

The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries. (IANS)

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A Step Towards Digital India- Google Launches Digital Payment App ‘Tez’ in India

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Google launched Tez app
Google CEO Sundar Pichai. Wikimedia

New Delhi, Sep 20, 2017: A day after Google launched its new digital payment app “Tez” in India, the company’s Indian-born CEO Sundar Pichai on Tuesday tweeted it will help India move closer to digital transformation.

“We hope that the launch of @TezByGoogle will help take India one step closer to your vision of @_DigitalIndia,” Pichai tweeted.

Finance Minister Arun Jaitley who launched the app here had said the idea of “Tez” was discussed by Pichai in January, just after demonetisation.

“Google saw a great potential in Indian economy and businesses,” Jaitley said, adding that Google’s new digital payments app over the next few months was likely to make major advances in digital transaction volumes.

Built on the Indian government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts.

The app was built for India, working on the vast majority of the country’s smartphones and available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu).

The app works in partnership with four Banks — Axis Bank, HDFC Bank, ICICI Bank and State Bank of India — to facilitate the processing of payments across over 50 UPI-enabled banks.

According to D D Mishra, Research Director, Gartner, Tez provides promising features which are in-line with the requirements.

Also Read: Google, Twitter enable advertisers to reach racists: Reports 

“It is too early to say whether it can be a game changer as evolution in this business is going to continue, but yes it has the capabilities to bring some disruption as of now,” Mishra said in a statement.

Moreover, Google’s information about an individual’s preferences can play a good role in enabling the business to know their preferences and provide offers with interesting options.

“The mobile wallet industry too is evolving and we are at an interesting stage in this competition. Eventually, UPI payments will have an upper hand if it continues to remain free and provide better security, convenience and add more Value Added Services,” Mishra informed. (IANS)