In the industrial world of Internet of Things (IoT), the emergence of the Fintech, Meditech, Autotech and supply chain industries etc. have pushed the reliance of software to be the unique interface for firms to offer a sustainable competitive advantage for consumers. The firms that are able to have this unique service among their competitors are well received in the market. Therefore, all firms are in a race to build the best software that provides the stakeholders a unique user experience and is the most reliable in terms of security and dependence.
This means the industry 4.0 would require the software industries to be the backbone of all the industries to thrive on. Software giants, like Infosys, Capgemini, Tata Consultancy Service, Accenture etc., are constantly building the best software using the highest forms of technologies such as blockchain, cloud, AI etc. to deliver the best products for their clients. However, the challenges remain that the software firms face tough competition from technological challenges and innovations, availability of skilled human resources, competitors, stringent global policies and protectionism on labour policies. Larger firms are increasing choosing the non linear business models instead of using the tradition linear business models. The new work cultures of working from home are beneficial for organisations as they increase productivity and convenience for their employees and thereby increasing revenue.
The software firms have a larger role to reinvent themselves for the next era in terms of innovation and product development, developing non-linear business models for the future, high-scale investments in path-breaking technologies such as cloud infrastructure, creating and investing in skill development and adapting to the new normal in the post-pandemic world.
The future of the IT industries will witness a great demand for new industries such as chips, batteries, software, space storage infrastructure and sensor connectivity. Software firms should also realise that space exploration has gained momentum and reached news levels since the 1960s. Space exploration includes connectivity technologies with satellites, space stations and orbit-exploring robots. In these widescale futuristic innovations, the information technology sciences certainly have the maximum to contribute.
To get insight into these interesting topics, at Berlin School of Business and Innovation (BSBI), we recently invited Ms Andrea Hendrickx, Country Head and Executive Board Member of Infosys, Germany, as the Guest Speaker for our latest Cafe Scientifique Lecture Series. The session, dedicated to the software industry and the transformation for the new era, gave our students the exciting opportunity to discuss with her the influence of IoT in the industries.
Since software industries and tech industries have become the platform for the future industries to thrive, Infosys, has a lot to disrupt. “We are currently in exciting times and at a turning point that heralds a new digital era – the COVID-19 pandemic has accelerated this change and clearly shown us the priorities brands need to set to be both resilient in challenging times and future-proof: improved business processes, increased efficiency and enhanced productivity. At Infosys, we are dedicated to supporting our customers navigate their digital transformation and to being a trusted partner for their future growth and success. From intelligent process automation to scalable, sustainable IT infrastructures, smart bots for fraud detection, Hyperscaler Polycloud, working in internal gigs and experimenting with robots and drones – at Infosys, IT is fun”, says Andrea Hendrickx.
The recording of the lecture is available on the BSBI YouTube channel.