Thursday, August 30, 2012

Why the Boom times are ahead for the Information Technology Industry ?

One of the Q&A's I was answering today on question got me thinking ! The question posed was a sarcastic one - Is the ICT industry heading for a bust ? Parallels were drawn to the Banking; Mutual Fund & equity markets bust that has seen unprecedented plunge both in valuations and trust,confidence levels. My optimistic mind see the fortunes of the ICT business otherwise.

ICT Industry has a unique role to play in the evolution of the new world order. Be it economics or geo politics , there has never been a time in our history that the nations have been more connected. We seem to orchestrate our opinions in unison on global issues such as green initiatives , ozone depletion , war on terror , freedom for oppressed nations etc thru the platform created by the information super high way.

If the Stone Age & Industrial Age lasted close to a Century , the Information age too will have a reasonable run.We still are a young industry.

I believe that we are in the mid life stage. Consider this..all this while we have be generating data , formulating systems , re implementing systems, ripping & replacing, aggregating & dis aggregating; connecting people is only now that we have a reasonable platform to move to the ultimate promise of Information be able deliver decision science a touch of ubiquity , data self service , outcomes etc.

The realm of information life cycle were info is valued differently from time of it birth to its ultimate retrial is a plausibility that has come to be only 5 years ago.The statutory mandates are ensuring that data is archived and re-provisioned on demand when it is required to be audited & predictive modelling and analytic are conjuring a future that can be more vividly than ever before.

Paradigms like BIGDATA thru DW& BI disciplines though existed for over 3 decades hv come to a promising state of reality today- Thanks largely to social media firms showing us the way & the advancement of open source powers like hadoop , mahoot , hive etc .The more information is shared the more it is valued in today's times.

The dawn of the new age of collaboration between Man& Machines have sparked imagination of dynamic societies using Intelligence Augmentation to predict or even engineer desired outcomes for the future. The machines though will need the generous helping hand of the Human ingeniousness of spotting Meaningful Adjacencies midst the ocean of information

Information is also free & relatively easy to access at least to the urban population .If we could break the cost barriers and reach the prowess of ICT to the rural masses then we could well ICT as the harbinger of a Golden Age of purposeful inclusivity & mutually coexisting Global communities. Contrary to the question - More than ever we are at a point in time best placed to leverage our information assets. Boom rather than bust is what we must brace for in times ahead!!