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Shubradeep Nandi, an IIM graduate, has many feathers to his technology hat. The fact that even before graduating from the prestigious business school he tried his hand at entrepreneurship by setting up an online food-tech business, reveals his visionary zeal. Moving further, in 2011, he cofounds CBC, a social payment marketplace, and sells it successfully to Zius in 2014. An ardent data scientist, and ambitious entrepreneur, Shubh Nandi talks to Analytics Insight in an exclusive interview, as to what his vision for finance technology is.
The current scenario suggests a bright future for analytics & big data in India in rural India. Since 2019, there has been a 45% growth in active internet users. According to a Neilson report, rural India has 352 million internet users — almost 20 percent higher than urban. The report further adds that almost 60 percent of the rural population is still not actively using the internet, paving headroom for further growth.
1. There are five Key trends with the data explosion:-
2. Smarter AI due to more data
3. Scalable ML Algorithms with state of art systems
4. Data Fabric – A powerful architectural framework and set of services that standardize data management practices
5. Augmented Analytics that uses the combined potential of NLP, CV, and other state of art ML systems
6. Death of Predefined Dashboard with the advent of modern, automated, and dynamic BI tools
The role of the Chief Information Officer has expanded over the years. The disruptive potential of Machine Learning means the role should become even more strategic. CIOs at large enterprises must be prepared to play a more central role in their organizational decisions. The key to successful leadership in the digital age is to accept and embrace the changes and improvements that AI & Machine Learning technology brings to the IT/Bigdata/ Robotics Industry. Leaders are no more immune to AI/ML technology. As these technologies are integrated into the workplace, their role will be key to transforming into an analytical organization. Thus they have to be prepared and ready for the new reality.
One of the biggest trends for 2022 in the financial services industry is the more than ever increase in the use of hybrid cloud services and cloud computation. Public clouds are cost-effective but do have security concerns. On the other hand, the private cloud is secure but highly expensive. Therefore the most suitable and emerging option is the hybrid cloud. It is a balance of both a public cloud and a private cloud where cost and security are balanced to offer more agility. Hybrid clouds are bringing change to IT infrastructures by providing a flexible yet centralized database, data security, scalability of data, and much more at an affordable cost.
1. The key concerns organizations have included
2. Right people with appropriate skill sets to work on analytics
3. Does the company have the right data to do analytics?
4. Has the data been collected with customer consent
5. Infrastructure to perform analytics
6. Assurance of data privacy and protection
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