The World Is On The Cusp Of Revolutionizing Many Sectors Through AI and Data Analytics: Yogesh Mudras
Entrepreneur's New Year’s Guide
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The number of cybersecurity incidents including denial of service attacks has increased disproportionately, according to annual reports from the Ministry of Electronics and Information Technology. In 2016-17, while the reported incidents stood at 35,418, in 2017-18 there were 69,539 incidents, rising to 274,465 in 2018-19. “India reported slightly more than 313,000 cybersecurity incidents in the ten months to October. This is a jump of more than 55 per cent from the 208,456 such incidents reported in 2018,” says Yogesh Mudras, Managing Director, Informa Markets in India. Informa Markets in India creates platforms for international markets to trade, innovate and grow. This year it is organising The International Fire and Security Exhibition and Conference (IFSEC) India Expo’s13th edition from December 19th to 21st December at the India Expo Mart in Greater Noida.
Mudras hail artificial intelligence as not a futuristic vision but as a need of the hour. “AI is being integrated and deployed in various sectors. This includes finance, national security, health care, criminal justice, transportation, and smart cities, points out Mudras. He further adds, “AI is a major driver to provide security, combat terrorism, and improve speech recognition programs.”
Some trends observed in the security and surveillance sector are Artificial Intelligence, Cloud Computing, Cybersecurity Sensor integration. “Intellectual property (IP)-based surveillance technology, touted as the future of surveillance systems, has replaced closed-circuit analogue systems. Some trends like sensors, biometrics, real-time connectivity, advanced processing software and analytics have also propelled the industry growth.”
What the Government Could Do To Improve Security Sector?
India’s ambition of sustaining high growth in the safety domain depends on one important factor i.e. E-Infrastructure. E-Infrastructure comprises tools, facilities and resources that are needed for advanced collaboration and includes the integration of various technologies such as the Internet, computing power, bandwidth provisioning, data storage etc.
The country is plagued with weak e-infrastructure and is not capable of meeting the needs of a growing economy and its population. Mudras claims that corporate growth and investments can be hampered if the government fails to close the e-infrastructure deficit.
To attract otherwise muted private sector investments, Mudras claims, “Sustained policy improvements, confidence in the sustainability of economic growth, and infrastructure development are essential.”
Does Security and Surveillance Sector Need Improvement In India?
Mudras believes that ongoing threats to homeland security, rising urbanisation, proliferating crimes against women and low people-to-police ratio are major factors that underline the need to augment safety and security in the country. “This (the demand) has opened up a huge market for leading players in the security and surveillance industry, with global revenue spends on security hardware, software and services projected to reach $103 billion this year,” says Mudras.
The 13th edition of IFSEC 2019 will see participation from over 15 countries such as China, Taiwan, South Korea, Malaysia, Lithuania, Czech Republic, UK, Russia, US and Japan to name a few. It will bring together over 300 domestic and globally renowned brands, key government officials, consultants and business experts.
Talking about the exhibition, Mudras says, “The Indian security market is experiencing unprecedented boom due to huge demand. The growing awareness in the retail and enterprise segment is giving security solutions a cult status. A new phase of the consolidation process is on in the Indian security market.”