The coronavirus pandemic, which has already brought unprecedented change in the way people live and work, could be a catalyst towards adoption of digital technology which will open health and education to millions, said N Chandrasekaran, Chairman of Tata Sons. He said that every crisis contains within it an opportunity for profound change. This time, the opportunity has come in the form of adoption of digital technology, which could make India a global leader in R&D, science and technology, AI, advanced manufacturing and next generation products and services.
Speaking at a webinar, Tata Sons chairman said that digital solutions can place India at the vanguard of a fourth industrial revolution, while positively impacting 30 million jobs. To do this requires rethinking and redesigning our whole economy, suited to India’s specific needs – not just building digital imitations of what we have now, or what we see in other parts of the world, he said.
In a few short months, COVID-19 may provide as much digital acceleration as the many billions of dollars of venture capital invested over the last decade, said Chandrasekaran while speaking at a webinar on “India’s opportunities in the decade of 2020s”.
“Many trends, already underway, have speeded up. The decline of bricks and mortar retail. The rise of e-commerce. The decline of offices. The rise of remote working,” he said.