Confluence in technology

Days are gone in which you have information technology as a small department that offers trouble shooting services to your organization. The technologist voice often takes a back seat in the board room and strategic decision, at least in traditional sectors. But that is all about to change.

Consider the example of JPMorgan, a financial behemoth which employs almost 44,000 technologists, invests USD 9 billion annually on technology, makes two third of all senior recruitments in Tec space. For them, the line which differentiates finance and technology is blurring.

A logistic company could help in reducing the turnaround time with the better implementation of IOT( internet of things). This enables the machines to communicate in a seamless manner reducing the time lags.

The adoption of block chain in documentation will make clearance easier across borders. It also helps in proper documentation of records and effective enforcement of contracts. Technology such as block chain will result in delivering results which have a social impact. The hackathon is now becoming an annual affair with major organizations venturing into it to solve practical problems.

The technology has moved from cost cutting tool to an innovation driven enabler across the globe. It helps the developing countries to converge on the diversities which act as a major hurdle for explosive growth. Technology resulted in more trade among regional peers which resulted in more interactions and transactions. The financial sector especially is keen to be a part of this transaction either independently or in partnership with fin tech companies. This transaction forms the back bone of any corporate or country. The successes of any organization /country lie in successfully deciphering and leveraging these transactions. An organization needs to monetize these transactions which otherwise will go solvent.

 The same could be done in sovereign nations. Technology will act as a binding force for diverse culture and help in social mobility which will finally result in economic mobility. The digital interactions play a pivotal role in managing the people. Digitalizing economy helps in better transmission of policies, avoiding leakages, monitoring, effective law, and order etc. but all these come at a cost of privacy. 

There could be days wherein all disciplines in science and art would converge on a technological backbone. They will depend hugely on technology without altering its basic nature