Tech Horizon 2024: AI, 5G, and Cybersecurity Innovations

In the fast-evolving realm of technology, 2024 is anticipated to usher in a wave of groundbreaking developments. The relentless integration of AI is set to redefine industries, with advancements in real-time decision-making, cybersecurity, and search engine precision. The upcoming year holds promises of harmonizing Gen AI with traditional search engines, eliminating inaccuracies and ensuring optimal outcomes. The synergy between 5G and Edge Computing is poised to reshape data processing dynamics, offering immersive experiences within the metaverse. Edge AI is anticipated to revolutionize sectors like healthcare, manufacturing, and retail, introducing real-time diagnostics and predictive maintenance. Simultaneously, the cybersecurity landscape will continue to evolve, necessitating proactive measures and a reevaluation of foundational security practices. As 2024 unfolds, the amalgamation of AI, 5G, Edge Computing, and cybersecurity stands as a testament to a dynamic technological future, redefining how we engage with and navigate the digital realm.

Dhananjay Ganjoo, Managing Director for India, and SAARC at F5

“In the year 2023, Indian businesses underwent a transformative shift with increased AI adoption. From AI-powered customer service enhancements to data analytics, automation, and cybersecurity measures, businesses embraced technology for operational efficiency. As per a report by PwC, 54% of Indian businesses have already implemented AI for business,” said Dhananjay Ganjoo, Managing Director for India, and SAARC at F5. “With the commencement of 2024, we will continue to witness the rise in the implementation of AI to enhance real-time decision-making on edge devices, address security concerns, and improve search engine outcomes. The combination of Gen AI and traditional search engines can eliminate AI hallucinations and provide accurate outcomes. AI-powered telemetry will also enhance cybersecurity by swiftly identifying threats, ensuring a dynamic security posture. The strategic integration of AI into API testing streamlines processes, and is poised for widespread adoption in 2024, ensuring robust performance.”

Amit Luthra, Managing Director, India, Lenovo ISG

“As we bid farewell to 2023, the fusion of 5G and Edge Computing emerges as a key player, overcoming challenges through real-time data processing. Large Language Models (LLMs) power Gen AI, transforming natural language understanding and customer interactions. Simultaneously, the metaverse gains ground, promising immersive shopping experiences for businesses embracing AR, VR, and NFTs.” says Amit Luthra, Managing Director, India, Lenovo ISG. “Looking ahead to 2024, Edge AI stands poised to revolutionize healthcare, manufacturing, and retail, offering real-time diagnostics and predictive maintenance. Hybrid AI integrates generative applications seamlessly, while cyber insurance becomes a critical shield against rising threats. Extended Reality (XR) enhances the metaverse, and data masking becomes paramount in the face of increasing cyber threats. Furthermore, when we look at enterprise AI, it will continue to take center stage, synthesizing assessments and proposing secure solutions within organizational frameworks. A focus on sustainability frameworks and strategies becomes imperative, aligning businesses with environmental management systems. The synergy of purpose-built AI devices becomes the backbone for a transformative era, demanding a proactive embrace of emerging technologies for not just survival but flourishing in the ever-evolving digital terrain.”

Mandy Andress, CISO, Elastic

“In 2023, cybersecurity continued to face a mix of continuity and change, with social engineering persisting and the cloud reshaping the landscape. In tandem, AI is evolving, and responsibility for incidents has also shifted to treat companies more as victims. The coming year foresees a departure from human-managed passwords, acknowledging risks and reducing human errors. While further multi-factor authentication adoption is anticipated, advancements in authentication technologies are still needed. It’s crucial to revisit cybersecurity fundamentals—password awareness, multi-factor authentication, identity management, patching, and threat modeling. From a corporate and CISO perspective, proactive measures are essential amid lightning-fast innovation driven by generative AI, emphasizing basic security steps in the face of perceived boredom, time constraints, and difficulty. Additionally, AI’s advancement has resulted in both the development of cyber threats and their mitigation. GenAI may aid threat actors in crafting sophisticated malware, posing detection challenges. Despite this, we see AI as pivotal in democratizing data, enabling teams to gain deeper, currently inaccessible insights,” said Mandy Andress, CISO, Elastic.

Sagar P.V, Chief Technology Officer & Head – Technology & Innovation Group, Mindsprint

“As we enter 2024, a forward-looking approach will not merely be a strategy; it will represent a steadfast commitment to navigating change, fostering innovation, and harnessing the unparalleled potential of technology.

Machines will become more intuitive, adaptive, and responsive in the dawn of a new era. Heralding this transformation, GenAI is at the forefront of gaining mainstream prominence while businesses will align their strategies to harness its power. While also confidently recalibrating their technological infrastructure by emphasizing location-based data handling to minimize latency, enhance real-time decision-making, and unlock the potential for applications requiring rapid responsiveness. Edge Computing will become the driving force behind GenAI’s impact, enabling organizations to attain a competitive advantage and stay ahead of the game.

As a critical aspect of organizational priorities, the narrative of 2024 will unfold with Supply Chain Resiliency. Recent disruptions highlight the vulnerability of global supply chains, prompting businesses to leverage technology in creating agile and adaptable strategies that can withstand unforeseen challenges. Technology, from predictive analytics to real-time tracking, is pivotal in fortifying supply chain resilience.

Viewing Green Technology not only as a corporate responsibility but also as a strategic value generator to appeal to environmentally conscious consumers, will take the spotlight as a catalyst for change in 2024; fueled by a growing awareness of environmental sustainability, businesses will need to integrate eco-friendly practices into their operations. The year’s playbook will also include strategically navigating the technological wave by upskilling the workforce for digital literacy, fostering continuous learning, and creating an environment where innovation thrives. Success involves adopting technology and seamlessly integrating it into every facet of the business, which blends human ingenuity with cutting-edge technology.”

Olga Lagunova, Chief Technology Officer, GoTo

“Indian IT leaders demonstrated resilience in 2023, embracing IT consolidation for greater speed, flexibility, and business continuity amidst shifting economic conditions. Looking ahead to 2024, consolidation will continue to play a key role as CTOs and business leaders look to take strategic advantage of game-changing technologies like cloud, automation, and AI.

Technology decision-makers will be at the forefront in steering their organizations’ continued digital transformation, which in the new year will focus on optimization, cybersecurity, and the customer experience. Artificial intelligence, for instance, is creating new opportunities to amplify employees’ productivity across IT, engineering, sales, customer care, and more by automating routine tasks and introducing new insights based on powerful analyses – but CTOs and other leaders need to help guide their businesses’ adoption and set up guardrails to ensure safe use of new technologies. At the same time, as cybersecurity becomes a growing concern, CTOs and CISOs must work together to implement robust security measures and invest in new cybersecurity solutions, including zero trust architectures (ZTAs), and passwordless identity.

Finally, introducing new technologies and processes also requires investment in training and upskilling teams. Ensuring employees have the knowledge and skills to utilize these technologies will be essential to gain a competitive edge and achieve sustained business growth.”

Yogesh Agrawal, CEO and Co-Founder, Consistent Infosystems Private Limited

“The Indian IT Hardware manufacturing industry is growing rapidly lately due to special emphasis by the Government of India by encouraging PLI manufacturing. The major industry trends include the use of advanced materials, organic electronics, and miniaturization. Besides, disruptive technologies like Artificial Intelligence (AI) and the Internet of Things (IoT) enable smart manufacturing practices also and are the growth drivers for the industry. Similarly, 3D printing is enabling the electronics fabrication industry to become more dynamic and cost-effective. In the year 2024, we will witness the increased use of these new technologies which will help in boosting the efficiency and effectiveness of indigenous players.”

Pramod Sharda, CEO, IceWarp India and Middle East

“In the aftermath of the pandemic, India has experienced a notable shift, with companies increasingly choosing remote work and relying on collaborative tools for communication. This has led to significant trends in business communications, emphasizing the utilization of generative AI, monitoring & dashboards to analyze collaboration data for more efficient workflows. With a 50% cyber attack rate in the last three years and costs expected to surpass $10 trillion by 2024, businesses prioritize cyber resilience. Beyond traditional cybersecurity, focus extends to recovery and continuity measures, incorporating remote work protocols. AI-driven automated defense, integrated security-continuity frameworks, and awareness of societal factors are integral to a robust strategy. As cyber threats advance, the trend of leveraging breakthrough technologies like AI in the market intensifies, solidifying cyber resilience as a prominent theme in 2024. Looking ahead to 2024, there is an expected increase in the adoption of generative AI to enhance both daily interactions and overall business productivity.”

“Globally, ESG is becoming more mainstream with regulations that stipulate increase in disclosures and a mandate to have these disclosures assured by a third party. Given the magnitude of these disclosures, Companies will need to invest in specialized Platforms for ESG Data Management, Reporting & Compliance. Regulators are also asking Banks & Investors like Asset Managers & PE to embed ESG Risk in their decision-making process and this in turn will require financial institutions to build/buy ESG Risk & Analytics platforms.

No-Code SaaS Platforms focused on the ESG domain would be preferred as they will incorporate multiple use cases and provide out-of-the-box solutions. While there are multiple ERP, Data Analytical Platforms and GRC solutions in the market today, they are mostly siloed and address only part of the Industry’s requirement when it comes to ESG. SaaS Platforms that are comprehensive, easy to customize (including risk models), AI-ML powered and that can seamlessly integrate with Enterprise Systems and ESG Data providers would be the platforms of choice for the CXOs.“

Vaibhav Sisinty, Founder and CEO, GrowthSchool

“In the year 2024, the landscape of edtech is poised for continued dominance by generative AI. The rise of technologies like Gemini, likened to OpenAI’s ChatGPT, signals a noteworthy advancement. These strides go beyond mere increments; they embody a transformative power, constrained only by the expansiveness of human creativity. This year unfolds with unforeseen breakthroughs in generative AI, consistently revealing its vast potential. Within the realm of education technology, this shift manifests as a move toward more individualized learning experiences, highlighting the imperative of AI literacy. As we progress, edtech will witness inventive approaches in seamlessly integrating AI into learning, ensuring education becomes more flexible and captivating than ever.”

Balasubramanian (Bala) Sankaranarayanan, President and CEO, Thryve Digital Health LLP

“One of the most important trends that we will witness in 2024 is the augmented usage of AI, especially Gen AI, in healthcare applications.

 We have already seen how digital transformation enabled healthcare providers to achieve better patient outcomes in the wake of the pandemic, and now we are witnessing the democratization of Generative AI. While the AI LLM providers have been evolving their models to cater to specific industries including healthcare – we are still waiting to see which set of use-cases will ramp from Pilots / POCs to production scale.

 While we see a lot of focus and investment on running Pilots around the Customer-facing “effectiveness” use-cases, we are also seeing a lot of interest in engineering and operations-facing “efficiency” use-cases – such as exploring the use of AI to drive automation of coding and testing, processing core business ops, as well as in areas such as data security, which has always been a critical focus for healthcare providers.”

Venkat Malladi, Co-Founder and CTO, Vymo

“One of the prominent trends in 2023 was the rise of generative AI, with companies focusing on leveraging its capabilities to drive innovation and growth. Generative AI has the potential to revolutionize various industries, such as agriculture, insurance, and language support. In 2024, we can expect further advancements in generative AI technology and increased collaboration between different sectors to harness its potential for interactive and immersive user experiences.”

Amit D Mishra, Founder and CEO, iMocha

“The corporate landscape is set to undergo a shift towards Skills-First Transformation (SFT) in the year ahead. Driven by the escalating demand for tech and AI skills, organizations are likely to prioritize ‘power-user’ employees with multi-disciplinary expertise. HR and business leaders are increasingly recognizing the role of Generative AI in talent retention and management. Skills-First Transformation is no longer an option but an imperative, with over half of the companies already on this journey, led by telecom, software products, and IT verticals. Companies focusing on SFT are already seeing early signs of higher revenue growth and a positive impact on talent. The foundation to achieve SFT will be about having a clear view of the skills within an organization that a skills intelligence solution offers. Skills intelligence platforms are becoming foundational for AI integration and nurturing talent at scale. The future of hiring will rely on SFT, where skills take center stage in strategic initiatives.”

Dr. Abhinanda Sarkar Academic Director, Great Learning

Cybersecurity:

Cybersecurity is a linchpin in our interconnected world, making the shortage of suitable professionals in the Indian cybersecurity sector a growing concern. With the government implementing various initiatives to bolster the digital economy, an increasing amount of information is stored online, thereby exposing various sectors to a heightened risk of cyberattacks. 

With data being crucial in the digital landscape, organisations and businesses in 2023, became increasingly aware of cyber threats. The surge in phishing, malware, and ransomware incidents has led to an 18% increase in weekly cyberattacks for Indian organizations during the first quarter of 2023, compared to 7% globally. Trojan attacks on supply chains and the deployment of malicious code generated by artificial intelligence are causing significant harm to both businesses and individuals. In 2024, the Indian cybersecurity sector is poised for growth, fueled by the development of 5G technology and the increasing adoption of cloud services by enterprises. With this, cybersecurity professionals will be tasked with preventing multiple types of DDoS, backdoors, and phishing, among hundreds of other ever-evolving attacks. Specialized roles such as penetration testers and cybersecurity engineers will become more prominent across the board, especially as businesses grow larger and expand their digital infrastructure.

Professionals will need to be multi-factor in their talents to be good security experts as more and more organizations are adopting Multi-Factor Authentication (MFA). Not only that, organizations will seek professionals with certifications such as CompTIA Security+ as cybersecurity in the age of IoT devices has become even more important to protect their assets as credit cards and other transactions often pass through devices such as wireless card readers. 

WIth the migration to Cloud, there will be an increasing demand for specialists in cloud security. Small enterprises lacking adequate safeguards could become vulnerable targets, prompting the need for either a comprehensive overhaul of their security protocols or the establishment of new ones. Fortunately, amidst these dynamic shifts, there is positive news for freshers and new professionals entering the field. They can leverage this gap in the market by acquiring relevant skills and staying skilled in the latest trends and tools.  The beauty of cybersecurity is that it is a very diverse domain—professionals from diverse backgrounds can transition to full-time roles through upskilling and relevant qualifications. Some may find entry points on the defensive side of security operations, while others may be drawn to the offensive side, embracing roles as ‘ethical hackers.’ 

2023 saw an exponential rise in the use of generative artificial intelligence (Gen AI). Beyond its obvious uses in the tech sector, Gen AI was also warmly welcomed by non-tech industries. Several market studies suggest that by 2030, the AI industry is expected to be worth more than $15 trillion. That being said, non-tech industries are starting to recognise the potential of AI as well, and in order to build the workplace of the future, they are not only investing heavily in AI but also upgrading their current platforms to make them tech-enabled.

As we approach 2024, it is obvious that artificial intelligence (AI) will make its way into boardrooms across industries where it has never before been allowed. This will change the way people make decisions and call attention to newly emerging Machine Learning (ML) capabilities. The focus will be on multimodal AI models, which will interpret a variety of facts to aid in decision-making. Furthermore, as AI advances, we should anticipate seeing a surge in the adoption of real-time machine learning by businesses, which will make use of data engagement and “enterprise-grade” AI solutions to strengthen threat detection and response.

And while we democratized generative AI becoming a reality in 2023, with over 80% of enterprises projected to utilize GenAI APIs or models by 2026; ethical considerations loom large, spotlighting the need for transparency, fairness, and AI ethics education in the coming year. 

Hemant Tiwari, MD – India, Hitachi Vantara

“As we approach 2024, we find ourselves immersed in a captivating symbiosis between AI and cloud computing, fundamentally reshaping the technological landscape. From the eco-conscious strides of data centres to the transformative force of edge analytics, which delicately refines data locally, it’s the year where sustainability meets innovation, creating a compelling narrative for tech evolution.

The demand for enhanced data infrastructure capabilities and fortified cyber defences becomes paramount as companies anticipate a doubling of their data needs by 2025. Quantum computing, on the cusp of gaining prominence, holds the promise of offering viable solutions via cloud platforms. A focused commitment to cloud-native security features, including Zero Trust architectures and AI-driven threat detection systems, is poised to intensify in response to the escalating cyber threats. 

2024 is pivotal for laying the foundation for efficient, integrated, and secure cloud ecosystems. The canvas of technological transformation extends further as the convergence of IoT, data, and AI paints a vibrant picture, setting the stage for businesses to navigate a dynamic future.”

Monica Kumar, Chief Marketing Officer, Hitachi Vantara

Prediction: Recognizing cloud as an operational model

In 2024, we will see a significant shift in the perception of cloud computing. Gone are the days when all public cloud is good; we will now be looking at cloud as an ecosystem. Cloud will no longer be a fixed location–either on-prem or in the cloud–it’s an operating model that offers cloud principles like agility, self-service, cost-effectiveness, and scalability. This transformation from a location to an operational framework is becoming increasingly clear as more cloud providers begin to leverage solutions that bridge the gap between on-prem and cloud deployments.

Prediction: Hybrid cloud sustainability is no longer a luxury; it’s a necessity 

Business leaders have shown a bigger commitment to reducing their environmental footprint in recent years, with a focus on optimizing resource usage and enhancing the efficiency of data centers. A 2023 study from Hitachi Vantara found that nearly four in five IT leaders and C-level business executives have developed plans for achieving net zero carbon emissions, with 60% saying the creation of eco-friendly data centers is a top priority. As businesses rely more on hybrid cloud solutions for their IT needs, these technologies must contribute to a sustainable future. Therefore, in 2024, hybrid cloud sustainability will transition from a “nice to have” strategy to an absolute necessity due to its real implication on the business.

The shift towards hybrid cloud sustainability will include a range of initiatives. Data center infrastructure and data management practices will be overhauled to reduce unnecessary resource consumption. This may consist of eliminating hot spots and excess energy usage, enhancing cooling systems, and properly removing electrical waste. Businesses will implement strategies to intelligently optimize workloads in their hybrid cloud setups for reduced energy consumption.

This transformation won’t just align with business goals; it will also drastically lower energy costs and streamline data management operations to improve efficiency, protect resources, and substantially curb environmental impact.

Vishal Gupta, Founder and CEO, Seclore

The technology landscape in India witnessed dynamic shifts, marking an era of rapid innovation and adoption. Over the years, India has made exceptional technological strides, accelerating the digital transformation. From developing cutting-edge AI capabilities to adopting data-centric security to high-performance edge computing, India has proven itself to be one of the most innovative nations in the world. Despite the technological advances, the cybersecurity scenario unveils a host of fresh challenges. Cybersecurity concerns loomed large as organizations grappled with the escalating cyber threats. The dependence on digital systems poses distinctive hurdles for organizations in their quest to safeguard sensitive information and uphold the trust of their customers. Thus, the need for robust defense mechanisms against cyber-attacks and data breaches became paramount, prompting significant investments in data-centric security infrastructure.

The frontier to drive significant change in 2023 was the rise of artificial intelligence. AI’s advanced data analysis capabilities are increasingly used to identify and predict cyber threats, enhance early detection systems in various sectors, revolutionize processes, and enhance efficiency and decision-making. From predictive analytics in healthcare to personalized user experiences in manufacturing, AI became integral to operations, driving a paradigm shift in how businesses function.

The onset of automation has enabled organizations to boost productivity, reduce costs, and unlock opportunities for growth and development. Apart from that, it helps create automated platforms to audit the process with prebuilt analytics. This increases a firm’s security teams’ awareness of sensitive data use and provides a better context for unauthorized activities, allowing them to make well-informed policy decisions. Going forward, the data-centric security landscape in 2024 promises a continued evolution toward a more privacy-centric and ethical approach. The convergence of emerging technologies is poised to redefine the way businesses operate, promising a future marked by unprecedented advancements and transformative possibilities. As individuals become more empowered and organizations prioritize responsible data practices, the future promises a more secure and transparent digital era.

Sindhu Gangadharan, SVP & MD, SAP Labs India; Vice Chairperson, nasscom

“Technology is not only enabling us to adapt to change, but also creating new opportunities for human advancement. Today, anyone can use gen AI, with little or no formal training or technical know-how. It is being embedded in everyday tools to radically transform how people work. In 2024, businesses leaders will look beyond the industry buzz for solutions that deliver real-life, AI-based use cases. Generative AI for business will move from hype to reality in 2024. Businesses have always required relevant and reliable business results. That means they’ll need to find ways of combining generative AI with their business-specific data. These data are notoriously complex and often sit in multiple systems, so there is a high risk of losing valuable context when they are extracted and combined. Since generative AI is only as valuable as the data it draws from, companies that can best combine their own business data with generative AI to provide the strongest context to the models will have a significant edge on the competition. With the huge number of data and transactions running through our systems and business network, SAP is uniquely positioned to help organizations access the data they need, visualize it, and take decisive action to drive their success.”

Balu Chaturvedula | SVP & Country Head, Walmart Global Tech

“2023 has been an exciting year for retail-tech. From Artificial Intelligence (AI) and Machine Learning (ML) to Augmented Reality (AR) and Virtual Reality (VR)—emerging technologies took center stage and unlocked new possibilities. AI and ML models have played a crucial role in driving supply chain automation—from powering inventory management, last mile delivery and predictive analytics to improve upon our ability to anticipate customer needs. For instance, this holiday season, we enhanced the AI embedded within Walmart’s inventory management system to provide a more accurate view of demand and better ensure customers and members get items when, where and how they want. Our ML model, for example, can recognize a hot-selling toy in a particular region and automatically send more items to those stores. Predictive analytics is helping our drivers complete more deliveries in less time. At the same time, AR has been helping customers visualize how items will look in their everyday life, while supporting our store associate’s ability to manage inventory more effectively.

Looking ahead, emerging tech will further propel data-driven decision-making, enable more natural interactions for customers while shopping and increase productivity for the workforce through automation. GenAI will transform the way the world shops. Be it GenAI-powered search, virtual assistants to automating tasks for developers—there are exciting possibilities to look out for. Quantum computing will also be key to fueling operational efficiencies and personalization in retail. And as technology continues to advance more rapidly than ever, it is important that we reinforce our commitment to using tech responsibly and in a manner that is safe, transparent and ethical to all.”

Shivam Thakral, CEO of BuyUcoin, India’s second-longest running digital asset exchange

The crypto market performance in 2023 has been really impressive. We have witnessed very encouraging numbers in terms of growth. The total market capitalization has increased by around 60% year-to-date. This growth was driven by factors like institutional adoption, DeFi’s rise, and NFT popularity. Bitcoin, the world’s largest digital asset by market cap is up by 155% at the time of writing, which makes Bitcoin one of the the best performing asset class of 2023.

I think we will see a crypto super cycle in 2024. The mega events like Bitcoin Halving and ETF approval anticipation will play a key role in driving the momentum of crypto assets. US monetary policy and subsequent decisions on the interest rates by the US Fed will have a significant impact on market sentiment and risk-taking capacity of traders. Simultaneously, clarity on the regulatory front will attract institutional giants to start their digital asset journey. As predicted by banking giant Standard Chartered, Bitcoin will hit the $100,000 mark by the end of 2024.

I think the core focus of regulatory developments in 2024 will be to prevent illicit use of digital assets. Continued focus on combating money laundering and terrorist financing through crypto, with potential for stricter enforcement and harmonization of regulations across jurisdictions. The IMF-FSB synthesis paper will act as a guiding force for nations actively working towards regulating digital assets in their region. More countries are expected to explore or launch CBDCs, potentially impacting the role and regulation of cryptocurrencies.

Overall, 2024 is likely to see continued regulatory developments, but with a focus on clarity, consumer protection, and addressing specific issues rather than implementing a comprehensive framework in most jurisdictions.

Om Malviya, President at Tezos India, a blockchain adoption entity

The blockchain technology has captivated tech enthusiasts’ interest right from its inception. Several industries, including banking, finance, supply chain, and healthcare have embraced blockchain technology. From transforming finance to revolutionising education, blockchain has redefined the digital experience across various sectors.

From being an innovative technology, blockchain is now seeing greater adoption across different industries and sectors. Areas such as Enterprise Blockchain Solutions, Decentralised Finance (DeFi), Blockchain in Education,  AI-integrated Blockchain Technology and Tokenisation of RWAs will be in focus in 2024.

As we explore these trends, 2024 is likely to be both transformational and promising for blockchain technology. An exciting trend likely to emerge in 2024 is applications based on the fusion of AI and blockchain. The rapidly rising number of startups in this space are coming up with solutions for the existing pain points, making blockchain ever more useful and secure. In the coming year, blockchain adoption is likely to pace up.

Manav Subodh- Founder and MD of 1M1B (One Million for Billion) 

• The Role of AI in Teacher Training and Students’ Perspective

“The year 2023 has witnessed an explosive change in the education and skill training ecosystem in the form of increased usage of AI, which is everywhere and has grown into an essential skill that our classrooms, school systems, and university systems need to respond to.

A few steps have been taken in the right direction. CBSE has already introduced AI as a subject for grades 9-12 and as a skill subject for grades 6–8. These are great systemic changes; however, the desired outcomes and scale cannot be achieved unless we integrate AI into our classrooms and upskill teachers.

In the space of education and skilling, Generative AI is going to empower us to strengthen our future economy and be revolutionary in its ability to provide a robust system of support for teachers and youths. The Way Forward is the need to look at AI in two different ways: first, how can AI make education better (AI for Education), and second, we need to look at how AI can be taught at scale and more inclusively in classrooms (AI in Education). Leveraging AI, India has this unique opportunity to become from a back office of the world to the front office of the world developing products and services for the rest of the world to consume.

Our aim in 2024 must be to ensure that teachers, students, and children in rural areas have equal access to technology as in metro cities. By integrating new technologies from the ground up, we can avoid the need to catch up later and instead adopt a more grassroots approach. In the current era of AI and digital advancements, we can take a bottom-up approach, aiming to empower individuals facing challenges by providing them with the benefits of technology. Let’s use this wave as an opportunity to completely change and re-work our education system where AI can be used as an education equalizer”

Mr. Padmakumar Nair, CEO and Co-Founder of Ennoventure Inc.

In today’s technology-driven era, countering counterfeiting has become a complex challenge. As businesses shift towards digital platforms, the demand for effective brand protection solutions has become critical. In 2024, the growing threat of forgery requires a proactive approach, utilizing state of the art technology based anti-counterfeit solutions. Software as a Service (SaaS) emerges as a valuable ally, providing adaptable tools to tackle the increasing presence of counterfeit products.

Authenticity holds a key role in navigating the intricate landscape of international trade. The effectiveness of anti-counterfeit SaaS surpasses a mere solution; it embodies a dedication to upholding integrity, promoting transparency, safeguarding consumer trust, and ensuring continual genuine innovation in the digital era, where counterfeiting poses a challenge to every transaction. The emergence of the anti-counterfeit software as a service trend in 2024 highlights a dedication to preserving the legitimacy of goods in the digital realm. Ennoventure Inc.’s development of these covert brand protection solutions promises a robust defense against illicit practices while adeptly adapting to the evolving counterfeit challenges.

This urgency is reinforced by a joint report by CRISIL and the Authentication Solution Providers’ Association (ASPA), which presents statistics. Almost 25-30% of all products sold in the country are counterfeit, particularly affecting sectors like apparel, fast-moving consumer goods (FMCG), pharmaceuticals, automotive, and consumer durables. These findings emphasize the seriousness of the issue, reinforcing the need for proactive measures to address the pervasive problem of counterfeit goods.’’

SivaPrasanna Vanapalli, Vice President, QE Testing and Automation, Marlabs and Sriram Raghunathan, Digital Innovation & Strategy Principal, Marlabs

Top tech trends that defined 2023 – The year 2023 bore witness to a seismic shift in technology, dominated by three game-changing trends. Generative AI stormed the scene, thrusting artificial intelligence into the hands of the masses and igniting a fierce competition among tech behemoths. Yet, this unbridled advance posed ethical quandaries, stemming from its unchecked growth. Simultaneously, in response to unprecedented challenges, many organizations found themselves compelled to optimize costs and enhance productivity to unprecedented levels. This imperative became more pressing due to labor shortages observed across various industries, leading to a heightened focus on automation throughout the entire digital value chain. Amidst this upheaval, a ground breaking breakthrough in sustainable energy unfolded, as nuclear scientists achieved the unthinkable—lab-designed fusion experiments generating surplus energy, catapulting us closer to a future of unparalleled energy self-sufficiency.

Tech trends that are expected to shape 2024 – Brace for the imminent wave of tech evolution in 2024, where AI takes center stage, beyond platform engineering and seamlessly integrating into our daily lives and transforming workflows, potentially birthing the next era of smartphones. Anticipate a regulatory landscape shift, as governments grapple with the pervasive influence of AI and Big Tech, leading to new rules and oversight. The journey into the future also unveils uncomfortable realities, with labor displacements looming, especially in knowledge industries, which could further heighten automation focus. In response to the global call for environmental stewardship, Sustainability-Tech is set to surge, with a rising tide of green computing, renewable energy tech, and innovative green solutions, as technology becomes a driving force for a sustainable tomorrow.

Gracy Chen, Managing Director at Bitget, the world’s largest crypto copy trading platform

In 2023, Bitcoin surged over 130% from its 2022 lows, surpassing a $700 billion market cap. Bitget mirrored this momentum with an 82% increase in spot trading volume in November 2023. The global market cap declined in July and August and rose in September with the news of spot Bitcoin ETFs. Bitget and Bybit saw the highest market share growth in September. Highlighting the significant events and advancements of the crypto/blockchain industry in this year.

The trends will change, the upcoming shifts in the market situation, and perhaps key events. In 2024, there will be six market catalysts for positive developments. It is expected that the Bitcoin ETF will receive SEC approval in January 2024. The market is currently optimistic, and following this, approval for an Ethereum ETF is anticipated. Institutions are considering using Bitcoin to achieve diversified asset allocation. The Ethereum Cancun upgrade is scheduled for the first quarter, during which Ethereum and L2 ecosystems will further unleash their potential. ZK L2 projects are expected to experience a token issuance boom. The issuer of the stablecoin USDC, Circle, is preparing for its initial public offering (IPO), potentially in the first half of 2024. Bitcoin will undergo a halving in 155 days, increasing the scarcity of Bitcoin. The FTX case is gradually entering its later stages, facing restructuring. As regulatory clarity emerges, it is expected to attract new retail funds. The U.S. interest rate hiking cycle is reaching its end, and the market anticipates the first rate cut as early as May 2024.

It is anticipated that next year, after the liquidation of the Bitcoin overhang from Mt.Gox and the U.S. government’s Silk Road seizure, a true bull market will emerge, accompanied by widespread adoption of cryptocurrencies and new innovations. We strongly believe that regulations worldwide have been extremely progressive with a focus on fostering innovation while safeguarding against risks. Regulatory frameworks are continuously evolving, with the possibility of changing crypto’s landscape throughout the globe.

We strongly believe that regulations worldwide have been extremely progressive with a focus on fostering innovation while safeguarding against risks. Regulatory frameworks are continuously evolving, with the possibility of changing crypto’s landscape throughout the globe.

Manhar Garegrat, Country head India and Global Partnerships at Liminal on digital asset security trends 2024

After a turbulent 2022, digital assets bounced back in 2023, with Bitcoin more than doubling in value and regulatory frameworks emerging around the globe. As we head into 2024, several key trends are poised to shape the future of this dynamic industry, with exciting opportunities for both individuals and businesses.

One of the most significant trends in 2024 will be the continued development of comprehensive regulatory frameworks for digital assets. Regulators worldwide are embracing innovation while safeguarding consumers through robust frameworks. Being a leading digital asset custody platform, we are at the forefront of this movement with a TCSP license in Hong Kong and an In-Principle Approval (IPA) from the Abu Dhabi Global Market (ADGM) FSRA. We are also actively pursuing licenses in other key jurisdictions like the Dubai International Financial Centre (DIFC) and Singapore, demonstrating our commitment to the highest compliance standards.

The tokenization of traditional financial assets or Real-World Assets (RWAs), such as real estate and securities, is another transformative trend expected to gain momentum in 2024. By placing these assets on blockchain networks, tokenization can democratize access to investment opportunities, enhance liquidity, and introduce greater transparency to conventional markets.

The digital asset landscape is rapidly evolving, and 2024 promises to be a year of significant transformation. By embracing regulation, tokenization, and innovation, the industry can build a more secure, transparent, and inclusive future for everyone. As we move forward, it is essential to remember that trust is the cornerstone of any successful financial system.

Dr. Nidhi Pundhir, Global Head of CSR, HCLTech and Director, HCLFoundation.

“HCLTech is committed to using the best technology and our people to accelerate progress for our clients, communities and the planet. HCLFoundation, which drives the corporate social responsibility agenda of HCLTech in India, has positively impacted over 5.5 million lives to date. It contributes to national and international development goals by investing in long-term sustainable programs and special initiatives focused on education, nurturing grassroots sports, health and sanitation, skill development and livelihood, environment and disaster risk reduction, and response management. To ensure equitable development, child protective strategies, inclusion and gender transformative approaches are at the core of all HCLFoundation programs.”

“India’s G20 presidency this year brought about many meaningful conversations around sustainability and the importance of achieving Sustainable Development Goals (SDGs). Infact 2023 witnessed a deliberate shift towards integrating these principles into core strategies. The industry’s role in climate change mitigation through cloud efficiency and green solutions or green IT was in focus, propelling action towards renewable energy and reducing carbon footprint.”

Rohit Kaila, Head of Technology and Site Leader Wayfair India TDC

The widespread adoption of AI is poised to echo through the upcoming year, reshaping various facets of society. This continuous integration of generative AI into daily applications, from search engines to design packages, signifies a profound impact on businesses. As technology advances, it promises heightened efficiency, productivity, and speed. Nevertheless, the transition from adopting advanced technologies to effective implementation presents challenges, encompassing the need to integrate tech into existing processes and balance immediate benefits with ecological considerations.

 Looking ahead to 2024, businesses must navigate these challenges by embracing environmentally conscious practices and ethical considerations. The imperative to integrate sustainable technologies and responsible business models is no longer optional but vital for long-term success and societal well-being. Addressing inadequate training for employees emerges as another obstacle, highlighting the ongoing transformation in the tech workforce. The future demands a dynamic skill set, including adaptability to rapid technological changes, proficiency in AI and machine learning, robust problem-solving capabilities, advanced data analytics expertise, collaborative teamwork, effective communication, and a commitment to continuous learning. Successfully overcoming these challenges will define a forward-thinking and resilient business landscape in the evolving technological era.

Souma Das, Managing Director, India Sub-continent at Alteryx

Reflecting on the dynamics of the Indian business landscape in 2023, the anticipation for 2024 is marked by a fervour for accessible and secure AI-driven decision-making technology. The excitement around AI and, more specifically, generative AI is palpable, fuelled by its potential to revolutionize industries, boost productivity, and spur unprecedented innovation. The anticipation is not just about the technology itself, but the promise it holds for transforming the business landscape by accelerating data-driven insights capable of redefining the competitive dynamics of every sector. From data collection to analysis, interpretation to reporting, generative AI will revolutionize decision-making by enabling employees to take action and stay ahead of the curve.

In the pursuit of a competitive edge in the era of decision intelligence, the challenge lies in addressing India’s talent shortage. For AI to be successfully integrated into every facet of the organization, it requires a business-wide approach to data-driven decision-making that empowers the entire workforce to take full advantage of the technology. Companies must invest in training and upskilling programs to nurture a pool of skilled professionals adept at understanding the data and harnessing AI’s power. Collaborations between academia, industry, and government play a crucial role in bridging the talent gap and fostering an ecosystem supporting AI development and deployment.

In the coming year, our focus is clear: Empowering talent by providing access to data and leveraging accessible self-service, low-code/no-code technology. By simplifying the complexities of data science, we aim to make AI accessible to all, achieving true success by enabling non-technical users to build and automate processes without coding. The new year offers opportunities to push boundaries, explore uncharted territories, and redefine success in India’s dynamic business ecosystem.

Aveekshith Bushan, Vice president of the APAC region, Aerospike

“As we bid adieu to the transformative landscape of 2023, a pivotal year in technology, it prompts us to discern the most important technology trends that have influenced various industries. A new generation of technologies such as artificial intelligence, machine learning and blockchain, has transformed how data is collected across diverse industries.

While Large Language Models (LLMs) are getting a lot of attention for their ability to decipher large, unstructured data, their accessibility is becoming an issue. Shifting to smaller, specialized LLM models for accessibility and economic viability is the key. These focused solutions will empower organizations to leverage AI, fostering unprecedented growth and advancement across diverse fields.

Transparency will become an even bigger driver in AI as regulatory frameworks around the globe undergo a metamorphosis, spotlighting compliance and transparency. Explainable AI (XAI) will take center stage, ensuring that AI systems articulate clear rationales for their decisions. This transparency is not just a prerequisite; it’s paramount to fostering public confidence, addressing ethical concerns, and championing the responsible and accountable deployment of AI.

Aerospike is and will continue to be an active participant in providing a real-time database that gives organizations confidence that their AI applications are supported with accurate, high-performance access to real-time data, at the lowest Total Cost of Ownership.

David Fellows, Chief Digital Officer, Acuity Knowledge Partners

AI is a disruptive force transforming our entire technology and financial ecosystem. From creating credit reports and company profiles to optimizing sales, marketing, and human resources, we’re already seeing the benefits. As we move into 2024, AI will become an integral part of every aspect of our digital business. In this exciting new era, we remain focused on the big picture. As AI processes an ever-increasing amount of data, we prioritize data protection compliance and transparency in AI decisions. Our goal in this new era is clear: to take advantage of the vast opportunities offered by AI while continuing to drive responsible innovation and earn and maintain customer trust. Finding this balance is the foundation of our continued success in a rapidly changing digital landscape.

Ramya Parashar, Chief Operating Officer, MiQ

“As we bid farewell to the incredible year of 2023, aptly named as the ‘Year of AI,’ our experience in the programmatic marketing industry has been nothing short of a paradigm shift. This year, we’ve navigated the complexities of an ever-changing industry, economic headwinds where adaptability and forward-thinking have been our guiding principles.

This year, in the era of AI we have moved beyond mere technological advancements. The convergence of artificial intelligence and the emerging force of Gen AI has reshaped the entire fabric of our industry. The ‘Year of AI’ has not only transformed how we engage with our audience but also reaffirmed that the human element remains indispensable. It’s not just about algorithms and data but the impact they’ve had on understanding and anticipating consumer behaviours.

As we move forward, let our culture be one of ongoing thought leadership, utilising AI’s revolutionary potential to not just stay up with but also lead change. Here’s to a future in which our industry evolves, fuelled by the imaginative energy that distinguishes MiQ. May the coming year serve as a blank canvas on which we can paint strong strokes of creativity, crafting the story of programmatic marketing with wisdom and vision.”

Mr. Binod Singh, CEO and Chairman, Cross Identity

As we bid farewell to another transformative year in cybersecurity, the challenges posed by fragmented Identity and Access Management (IAM) systems seem more prominent. This year, organizations navigated the dynamic landscape, grappling with risks of vulnerabilities and breaches. The strain of implementing multiple IAM systems was felt, draining resources and diminishing overall efficiency, compounded by the lack of a unified dashboard hindering comprehensive visibility. Against this backdrop, the recently published report by IDSA adds a poignant layer to the narrative. The report reveals a stark reality – 90% of organizations faced at least one identity-related breach in the past year, reflecting a 7.1% YoY increase. The rise in both the number and complexity of identities has fundamentally altered the dynamic of identity management, underscoring the need for a unified and resilient approach.

In response, upskilling programs emerged as a cornerstone, empowering organizations to shift from a defensive to a proactive cybersecurity stance. Foundational cybersecurity practices – from robust passwords to vigilant defense against phishing – have paved the way for a more secure digital future.

Reflecting on the year’s trends, integrating AI and ML in identity management took center stage, emphasizing precision and breach prediction. Advanced Multi-Factor Authentication, Zero Trust principles, and Converged IAM solutions emerged as pivotal components. As we navigate the path ahead, the lessons learned in 2023 emphasize the need for a strategic shift towards identity first security, leveraging advanced technologies and comprehensive strategies to fortify defenses and ensure a resilient cybersecurity posture.

Sriram Gopalswamy, VP – Site Reliability Engineering & MD, Sabre, Bengaluru GCC

“When contemplating the AI landscape, it is truly remarkable to witness the swift pace at which innovations have surged. Advancements in the realm of AI would unfold every day. The recent developments and ongoing narrative surrounding AI, serves as a testament to this perpetual evolution. The past year alone has been a whirlwind of transformative events, sparking curiosity about the upcoming trends that will shape 2024. The OpenAI team’s revelation of an AGI model stands as an immense milestone, propelling us beyond the boundaries of conventional AI and into a domain that has the potential to redefine not only the entire tech industry but also the future of humankind.”

Deepa Param Singhal, Vice President, Cloud Applications, Oracle India

While 2023 witnessed exponential growth of modern technologies such as AI & ML with a strong foundation of cloud, we expect the adoption of AI, including Conversational AI and Generative AI, cloud-based applications, and ML to continue to dominate the applications landscape in 2024. They are playing a major role in revolutionizing industries such as healthcare, public sector, BFSI, in India. The healthcare sector, especially, has undergone a remarkable shift with AI models being used to create intelligence, enhance governance, advance customizations, and improve patient care. At Oracle, we are in constant pursuit to support our customers with cloud native SaaS solutions to help solve some of their toughest business challenges. This spans enterprise resource planning, supply chain management, human capital management, advertising and customer experience and more. By migrating to SaaS, businesses are able to simplify internal practices and propel their digitization goals. Based on customer feedback, we recently unveiled our advancement in generative AI strategy across our cloud applications, infrastructure, and platforms to help solve some of our customers’ largest problems.”

Mr. Devendra Kumar (DK) Sharma as President and Chief Operating officer (COO), Kore.ai

“The year showed the potential of transformative impact of advanced AI, particularly through LLM-based applications like ChatGPT. Generative AI has set off an explosive phase of growth, with the introduction of transformer models such as GPT-3.5, GPT-4, and Google’s Bard. One of the most significant potentials of generative AI lies in its ability to redefine the customer and employee experience across various touch points, including call centres and digital channels.

“As we see it, 2024 will be a year that will unleash unprecedented innovation, especially with the strategic pairing of conversational AI and generative AI. We believe the combination of conversational AI and generative AI will influence customer experience, employee engagement, search experience and the role of automation in enterprises. It will play a pivotal role in helping banks, financial services firms, insurance companies and e-commerce platforms meet diverse demands and achieve hyper-personalization at scale. New use cases will emerge around tasks like conversation classification, text summarization, sentiment analysis, answering questions and executing complex tasks with immersive experiences that involve multimodal AI. To realize this immense potential, businesses need to make themselves ‘AI-ready’ and draw out strategies on how to deliver value through industry-specific implementations while ensuring responsible use of AI technologies for enforcing data privacy and compliance.”

Mr Abhijit Dutta, Chief Strategy Officer, Hostbook

As we bid farewell to 2023, the transformative journey of this year echoes the spirit of innovation and efficiency. In the realm of business solutions, the integration of cutting-edge technologies has reshaped the landscape, providing a seamless bridge between challenges and solutions. The year witnessed a surge in SaaS-based platforms, exemplifying the power of automation in redefining traditional processes.

Amidst this wave of change, a standout feature has been the evolution of cloud-based accounting solutions. Offering a beacon of simplicity in complexity, these platforms have not only streamlined financial workflows but have also become catalysts for enhanced productivity. The intricate dance of AI and ML capabilities, coupled with multi-channel integration, has propelled businesses toward a future where agility and scalability are paramount.

The year’s narrative underscores the success of modular approaches, breaking free from the confines of one-size-fits-all solutions. The synergy between tailored features and industry-focused solutions has not only met the diverse needs of enterprises but has also paved the way for cost-effective and scalable transformations.

As the year draws to a close, the legacy of 2023 will be etched in the annals of business evolution—a testament to the relentless pursuit of innovation, efficiency, and the unwavering commitment to simplifying the complexities of financial management.

Mr. Pinkesh Kotecha, MD and Chairman, Ishan Technologies

“The ICT sector in India stands on the brink of a transformative era, embracing cutting-edge technologies like 5G/6G, Satellite Communication, and Semiconductors. These advancements herald a substantial economic boost for India. Reflecting on the past year, Ishan Technologies actively contributed to these changes, emphasizing our commitment to excellence through expansive growth plans. Our focus will be on hiring over 3000 skilled professionals pan-India and investing in their upskilling, we will also be coming up with new projects like our Tier 3 certified Data Centre in Mumbai. Our dedication to bridging the digital projects across India’ We are also planning an expansion in the South Indian and East. Notably, 2024 is expected to be a significant year for Ishan Technologies, anticipating an increase in turnover from 353 crores to 500 crores in the coming year.

As we look ahead, anticipating new challenges and opportunities, the growth of smart cities, the push for digital inclusivity, and the evolving ICT landscape align seamlessly with our vision. Our commitment to making internet and technology more affordable and accessible remains steadfast, ensuring inclusivity in the digital age. The rise of Artificial Intelligence and Machine Learning adds a profound dimension to our technological landscape. We are actively participating in establishing our indigenous AI ecosystem, aligning with the draft proposal of the National Data Governance Framework Policy by the government.

It is essential to acknowledge some challenges that linger. The demand for Data Centres necessitates robust infrastructure, urging government attention for industry expansion. Ensuring a stable power supply is paramount for seamless Data Centre functioning, requiring collaborative efforts to overcome this challenge. However, the proven lucrative nature of the ICT sector anticipates substantial growth in 2024. Our strategic investments in Data Centres align seamlessly with industry needs. The pivotal role of last-mile connectivity in bridging the digital divide continues to empower individuals and businesses.”

Amit Singh-Founder & CEO of Teliolabs 

“As 2023 comes to a wrap, it was an exciting time for us across the board, be it for telecom, where we won some huge deals; to EV, where we signed up over 30 enterprise customers and helped them build their EV charging network and that too, across 6 countries. We have also worked tirelessly with our clients in telecom, cybersecurity, digital banking, and insurance to help them further augment their digital capabilities.

The global connected vehicle market is set to grow at a 14% CAGR, reaching $122.51 billion by 2023. India’s connected car market is expected to reach $32.5 billion by 2025 with a 22.2% CAGR. The rise of 5G is a key driver, and countries globally are preparing for its adoption. This shift will also boost embedded SIMs (eSIMs) in connected cars, simplifying connectivity and enabling real-time analysis for an enhanced driving experience. With this development, we’re really excited about the possibilities 2024 holds for us as the coming year for us will be a “Year of the Associates.” We have and will continue to strive to make Teliolabs a place where you are excited and happy each day, being a part of a greater cause.`

Dr Lalit Singh- CEO of TelioEV

“As 2023 draws to a close, we are proud of our remarkable progress, having seen the Indian EV market change at a never-before-seen rate. This journey is evidenced by the listing of over 11,000 charging stations on our TelioEV Discovery app, which was made possible by persistent government support and forward-thinking laws like FAME-II.  Vahan Portal reported that over 13 lakh EVs were sold in India in 2023 through November, a 35% rise from 2022 and a positive indication for the sector. EV adoption in the industry has been mostly observed in the ride-hailing, public transit, last/mid-mile delivery, 2W, and three-wheeler segments.

TelioEV is passionately committed to making EV charging universally accessible. Investments in smart charging, remote monitoring, and EV roaming ensure the rapid growth of the EV ecosystem. Ongoing efforts include enhancing the user experience with real-time charging availability, route planning, and data analytics. There has been an ongoing expansion of EV facilities in Tier-2 and Tier-3 cities in alignment with the government’s net-zero emission target, which ensures equitable access to clean mobility and anticipates a surge in EV adoption in the year 2024.”

Neil Thacker CISO EMEA, Netskope

AI regulations facing scrutiny

“Proposed AI regulations will come under scrutiny in 2024. We are already seeing countries and entire regions proposing new AI regulations to counter and attempt to control new services, but will we see draft regulations proposed and updated that can support innovation alongside ethics and privacy? All eyes are on the U.S, Europe, and China but could other countries steal a march by delaying their own regulations to enter the AI arms race?”

Rohit Jetly, Head of Shared Services and India Site Head, Fidelity International

“2023 was an important year for India’s Global Capability Centres (GCCs), characterized by trends that highlight India’s crucial position in the global business arena. The surge in GCCs, which are projected to reach 2,000 in India over the next 3-4 years, reflects how organizations are harnessing India’s talent pool more in terms of depth of skill and the volume of innovation that can unfold from here, with substantial focus on areas like AI, analytics, digital, blockchain and cloud. This reaffirms the confidence global corporations place in India as a hub for advanced capabilities and underscores the nation’s position as a global leader in technology. The shift is further accentuated by the talent’s (especially engineers’ and technologists’), clear preference for working in GCCs and product firms, over traditional IT services firms.

In 2024, the outlook for GCCs seems promising and I expect them to play a pivotal role in shaping the future, albeit we take steps to consolidate our position in the rapidly changing world. Our leadership talent needs to be in tune with evolving and unmet customer needs and be ingenious enough to create solutions to meet their needs. They should be able to reimagine how they move through the value chain and improve the value arbitrage we provide. They also need to start thinking more creatively about improving our productivity as a collective. To deliver on our promise, our talent needs to excel, both from a skills perspective as well as from a cultural integration perspective and be more hands on and connected to business and customer outcomes they are serving.

At Fidelity International, India continues to be a place of strategic importance for over two decades now, having built strong customer-centric capability in the country, delivering work across engineering & technology, finance, digital, general counsel, data and analytics, cyber security etc. to name a few. More than 40% of our global talent is based in India and we have recently announced our operations in Bangalore, that will bolster our strategic presence in the country. We have thoughtfully crafted our approach to build a sustainable business, and to leverage India as a talent hotspot as well as a resilience location for our clients globally.”

Sathesh Murthy, Managing Director and Engineering Head, RingCentral

“In today’s dynamic business landscape, the imperative for AI to revolutionize customer experience is undeniable. AI serves as a formidable asset, enabling agents to save time through automated call summaries and refining coaching strategies based on data insights. Sentiment analysis, deciphering customer behavior patterns, empowers agents to navigate complex scenarios and preempt potential fraud. However, it’s crucial to acknowledge that contemporary AI, while sophisticated, hasn’t reached the realm of autonomous intelligence; it remains a powerful tool rooted in machine learning and natural language processing.

For us at RingCentral, the intentional deployment of AI is paramount. The tool’s current value lies in its adeptness at categorizing and routing customer interactions, automating responses to FAQs, and expediting ticket resolutions. Looking forward, as AI becomes deeply ingrained in daily operations, its evolution promises more precision and context-aware systems, enhancing the efficiency of business communications. In the era of hybrid work, as digital transformation accelerates, RingCentral emphasizes the importance of securing interactions through a unified UcaaS and CcaaS platform, recognizing the pivotal role of AI in shaping a seamless and secure future for communication and collaboration.”

Pinak Chakraborty, Chief Information Officer, Airtel Payments Bank

The tech industry is constantly evolving, and in 2023, the focus was on Generative Pre-trained transformers, an AI technology that can produce human-like responses. However, challenges such as hallucination, data localization, and privacy continue to be a concern that needs attention to refine Gen AI for widespread business use by 2024.

Cloud technology adoption is still progressing carefully to ensure system stability, low latency, and high throughput during busy periods. However, for robust and secure cloud adoption practices, challenges pertaining to data security, localization, segregation, and configuration needs to address.

As digital adoption continues to expand in the economy, so will also be threats from fraudsters, necessitating technology interventions to minimize losses and secure organizational infrastructure. Cybersecurity, particularly in fraud prevention, has been and will continue to be a focal point. It is a top priority for Airtel Payments Bank also, as it deals with the surge in digital transactions. The Bank invests in technological interventions to minimize losses and strengthen its organizational infrastructure.

Further automation of business and technical operations is another trend that aims to enhance productivity and reduce manual errors. Using data and analytics to understand customer behaviour, prevent fraud, and personalize services will also remain a priority. A platform engineering approach is being used across various use cases to provide architectural consistency, streamlined product feature development, swift ecosystem integration, and simplified system maintenance. As we enter 2024, the convergence of these trends will shape the technological landscape in yet another exciting year.

Sreekrishnan Venkateswaran, CTO of Kyndryl India

It is rather straightforward to forecast the distant future since no one will remember that you got it wrong. Not so for the near future; yet, I will take a stab. The year 2023 marked a watershed moment for technology in more ways than one. We witnessed the resurgence of AI, thanks to the proliferation of generative AI technologies, with new and powerful models arriving every few weeks and impacting most spheres of life and business.

In 2024, multi-modal models that generate everything from text and code to voice and graphics will continue their march. However, the question remains: will generative AI create an oligopoly where only a few have the resources and expertise to build, train and operate large and specialized models that the rest of the world has to use? The implications of such a possibility are daunting given that closed systems generating widely used new content can not only throttle innovation but also create knotty privacy concerns and vexing regulatory challenges. How will this play out?  Will open source models catch up and unlock the black box? Navigating this terrain can be challenging for open source, given the powerful systems and vast data required to test and train large models. Yet, if large enterprises champion open source LLMs, it could significantly propel progress in this realm. The past year has already seen open source LLMs taking birth, and 2024 is poised to see more action, but predicting whether open source can emerge a winner is best deferred by a year. And as generative AI enters sectors such as medicine, its interplay with the law will become more captivating in 2024, covering intellectual property, liability, indemnification, privacy, security and bias.

Another exciting area that witnessed a quieter quickening in 2023 is computer vision. The evolution of the YOLO models and their impact on several fields, ranging from agriculture to smart governance, has been fascinating. This is another area that is not near plateauing in 2024.

Vaibhav Tare, Chief Information Security Officer, Fulcrum Digital

Fulcrum Digital: AI-Driven Cybersecurity

“In recent years, the cybersecurity landscape has undergone a remarkable transformation, significantly impacting our threat mitigation approach. The surge in sophisticated threats prompted us to adopt an agile stance. Leveraging AI-powered threat intelligence and predictive analytics has been pivotal in anticipating and countering evolving risks. Transitioning from traditional models to adaptive, intelligence-driven strategies has been instrumental. The surge in remote work and extensive cloud reliance has compelled us to ensure robust cloud security measures. Throughout this evolution, our firm commitment remains—to empower clients with cutting-edge approaches like Zero Trust frameworks and instil a predictive and robust security culture. Our journey accentuates the imperative of staying ahead in this dynamic threat environment while ensuring our clients are confidently equipped to navigate these changes.”

Mignona Cote, Chief Security Officer, NetApp

NetApp: Shortage of Cybersecurity Talent

” In recent years, we’ve observed a dynamic evolution in the cybersecurity landscape. The ever-growing complexity of cyber threats has required us to adopt a proactive and adaptive approach to security. Recognising the industry-wide shortage of cybersecurity talent, we actively contribute to addressing this gap through educational initiatives, collaboration with academic institutions, and programs like bootcamps, that demonstrate our commitment to skill development. In alignment with this evolution, my role as Chief Security Officer at NetApp has undergone a significant transformation. Our commitment towards integrating security into every facet of the organisation, coupled with ongoing education and strategic partnerships, fortifies our adaptive cybersecurity posture. Going forward, we would remain dedicated to staying ahead of emerging threats through innovation and strategic investments in cybersecurity.”

Chester Wisniewski, Global Field CTO, Sophos

Sophos: Growing Threat of Ransomware Attacks

“If history has taught us anything the 2024 threat landscape will look a lot like the 2023 threat landscape, but more efficient and with opportunistic twists and turns. Criminals are out for only one thing, money. They will continue to ransom and extort their way to infamy and wealth. Where we see variances are around what most easily enables this criminal activity. Year over year we see shifts back and forth between exploiting zero-day vulnerabilities and using stolen credentials to gain access to victims’ networks. When there is a fresh vulnerability available and it is somewhat easy to exploit, as we have recently observed with Citrix Bleed (CVE-2023-4966 flaw being exploited by ransomware crews in Citrix NetScaler), they will take advantage. Once all the victims are patched or already compromised, they will fall back to the slightly less efficient method of credential theft. As organizations have increasingly adopted multifactor authentication criminals have begun to develop more sophisticated bypasses and have turned to stealing cookies and session cookies instead.

2023 showed a lot of advancement in abusing supply chains to compromise victims as well. Whether through the compromise of managed service providers (MSPs), file sharing appliances, or through authentication providers, sometimes the easiest way to break-in is through the back door. As we continue to harden our own networks and adopt more “as-a-service” models we can expect attacks like this to increase throughout 2024.

As multifactor authentication becomes more ubiquitous, we will continue to see the use of malicious proxies like evilginx and social engineering to convince end-users and IT support staff to grant attackers access. Groups like LAPSU$ and Scattered Spider have captured everyone’s attention with their success in gaining access to major brand names throughout 2022 and 2023 and this will likely inspire more to borrow pages from their playbook.

I think we will see major governments around the world take more substantiative action to thwart ransomware groups as people’s day to day lives are increasingly impacted when hospitals, schools, law offices, and banks are unable to operate due to cyberattack-related downtime. It’s hard to say whether this will be effective, but we are reaching a point where people will begin to demand something be done.”

Siddharth Idnani, head, Alliances & Channels, Oracle India

“In 2024, channel partnerships are poised for transformation with the emergence of innovative cloud solutions. There has been an unparalleled surge in technological advancements, accompanied by a growing commitment among customer organizations in India to embrace Digital Transformation as a business imperative. A pivotal factor in fostering innovation and supporting customer business outcomes lies in cultivating a dynamic and robust partner ecosystem. Our contemporary Oracle Partner Network (OPN) framework is designed to empower partners to attain Oracle Expertise, fostering customer trust and relevance. This, in turn, allows them to expand into new markets and cultivate business growth. The three core tenets of the modern OPN program are Customer-centricity, Success-driven and Simplicity.

As technology evolves, the commitment to supporting partners and end customers is evident through certification programs and continuous skill enhancement. The emphasis is on keeping partners updated on emerging technologies and market demands.”