The word ‘transformation’ over the last few decades has primarily been associated with technology. And in today’s context, it is quite a passive outlook. This fast-moving, fragmented, consumer-centric world requires a different mindset and approach all together. It is not technology transforming us but us who are transforming technology – and in turn, this world. We are in the midst of a human-driven, human-centered revolution with billions of internet users all over the globe driving this transformation.
Businesses worldwide are under greater political and competitive pressures to localize, hyper-localize, and personalize products and services based on specific consumer needs. Manufacturers and supply chains are continuously working towards increasing domestic production and employment in their countries and reducing dependency on sources that are perceived as risky, all the while embracing sustainable practices that would grow resilience across the value chain.
Reframing Human-Centricity with Emerging Technologies
There is a greater reliance on emerging technologies to lead us towards a more stable future. This is driving the need to create solutions leveraging next-generation technologies, such as artificial intelligence (AI), augmented and virtual (AR/VR), Web 3.0, non-fungible tokens (NFT), cloud, and blockchain, to help us navigate these challenges with minimum-to-no damage and maximum value for all.
For example, several new ventures today are and will be around the metaverse. There’s fast adoption across industries, especially healthcare, retail, and education. The metaverse translates to better augmented reality, data mining, structured data analytics, and an enhanced never-before-seen method of delivering connected, immersive experiences across digital channels. We are poised to go “meta”physical – redefining the whole engagement and experience delivery process. It has changed the way we learn and do business – this digital twin will provide solutions for myriad business case challenges. The possibilities are endless.
These fundamental layers of the metaverse are well integrated within Tech Mahindra and its competencies we have been building over the years. We have been dedicatedly training engineers to solve complex challenges in this new world order. Our metaverse practice, TechMverse, is being built to deliver interactive and immersive experiences while delivering real business outcomes with sustainability at the core. This is our moment to build human-centric, connected experiences never done before while doing good and delivering meaningful change in the real world.
Walking the Sustainability Talk in the Digital Decade
There’s more to building enduring businesses and institutions than the bottom line. It’s about sustainable innovation and engineering, extensive R&D, and investing in the right digital capabilities that ensure endurance and eventually, competitive dominance.
Despite disruptions, we have advanced quite a bit within the fourth industrial revolution or Industry 4.0. Enterprises are reinventing their operating models, creating new growth avenues, and addressing social needs. And the focus is on building trusting, sustainable businesses that can be a strong foundation of a more stable economy and the world. Given today’s climate, one cannot think of an industry, whether it is technology, retail, or education, that does not consume energy. If we are taking from the world, we will need to give back. This is how we sustain and grow.
At Tech Mahindra, our focus has always been on balancing the 3Ps – people, planet, and profits – as we drive this technology-led momentum towards creating sustainable markets with resilient supply chains. We have dedicated several practices and initiatives around science-based targets, carbon pricing, and green technology solutions. The intent is to create value beyond the bottom line for all our stakeholders, not just the customers we serve. My employees and colleagues are at the forefront of this movement. They question, explore, and work towards adopting sustainable business practices within and outside the enterprise. And as a sustainably conscious business, when we work with our customers, we help them define how they can become more sustainable, more carbon neutral, and through various measurement tools, demonstrate the impact every action of theirs has on the planet.
This is the time for us to enable an equitable economy governed by mindful growth. And it is good to see many walking the talk—engaging with communities for solving problems and building long term business relationships. Every brand must be associated with doing good. For a global IT brand like Tech Mahindra with a 75-year-old Mahindra Group legacy backing us, all our actions are purposed around doing good—to take clear actions around sustainability, where our business is to be the knowledge and innovation partner to our customers. This is not just brand messaging. It’s what we believe and always do. It is how we will create a sustainable world that is equal for all.