Tech Mahindra: Creating Cost-effective Modernization Of Legacy Systems Digital transformation is not a one-time investment but an ongoing process that demands constant skill upgrades and technological advancements to thrive in the digital realm, says, Kunal Purohit, chief digital services officer, Tech Mahindra

With disruptions caused by artificial intelligence, machine learning, cloud computing, analytics, cybersecurity, blockchain, metaverse, quantum computing, internet of things, and generative AI, Tech Mahindra is on a journey to transform technological innovations. The tech giant is creating opportunities across sectors with its solutions and offerings. In order to optimally utilize technological advances, businesses must navigate complex compliance requirements to comply with regulations.

Industries such as telecom, manufacturing, and BFSI, face several common obstacles when it comes to harnessing the potential of innovations. For instance, in the case of data privacy and security, sectors that handle sensitive data, such as healthcare and finance, need to prioritize robust cybersecurity measures, data encryption, and compliance with privacy regulations. Additionally, industries also require assistance with integrating digital technologies into their legacy systems.

"To overcome these integration challenges, at Tech Mahindra, we collaborate with our partners and clients to innovate and co-create solutions through a phased approach, strategic partnerships and investments in modernization. As generative AI is revolutionizing various industries and offering organizations the opportunity to redefine themselves and seize new possibilities, we are fully focused on infusing it in every possible area, including other technologies and tools, to bring maximum efficiency and productivity for our organization and customers," said Kunal Purohit, chief digital services officer, Tech Mahindra.

However, powerful technologies always come with potential risks, and generative AI solutions are no exception. These solutions transform various industries' operational, functional and strategic landscapes. With generative AI applications, enterprise knowledge becomes more accessible and available to business users. This leads to democratizing knowledge and skills within the enterprise. "There are ethical concerns surrounding generative AI. These include copyright infringement or stolen data, hallucinations and inaccuracies, biases in training data, cybersecurity breaches, environmental impact, and more. Therefore, responsible AI is becoming a significant trend that we can expect to see more of in the coming year," the CDSO added.

When asked about the benefits of its tech offerings, he said, "Enterprises in the IT industry are experiencing significant benefits from our offerings as these help with rapid and cost-effective modernization of legacy systems and the development of new applications," he explained, adding that the solutions and offerings are designed to assist businesses in optimizing their operations, enhancing efficiency and reducing costs. "We also provide consulting services to help businesses identify areas of improvement and develop strategies to achieve their objectives."

Digital transformation is not a one-time investment but an ongoing process that demands constant skill upgrades and technological advancements to thrive in the digital realm. A continuous advancement in the area is only possible when the tech leader is armed with the ability to create a clear and compelling digital roadmap, which aligns stakeholders, shareholders and employees at all levels, outlining a strategic vision for the organization's digital future. "This requires strong leadership skills and a profound understanding of digital tools and trends. A CDSO must prioritize integrating sustainable design thinking into every facet of an organization's operations, keeping people and the planet at the centre to ensure long-term business growth and resilience against disruptions," quips Purohit.

Tech outlook for 2024

The innovative trends that emerged last year will continue to shape Tech Mahindra's outlook in the coming months.

• generative AI: In 2023, generative AI took centre stage as a mainstream trend. In 2024, we will realize its true potential and value. It will be a common thread throughout all other technology trends.
• Sustainable technology: Tech Mahindra's sustainability practices and investment in green technology solutions are aimed at moving towards a low-carbon economy, where it aims to achieve carbon neutrality by 2030 and net zero by 2035.

• Cyber resilience: With the advancement of technology, cyber threats are becoming more sophisticated. This will make a prominent trend in 2024 and beyond. The tech company is making effective security monitoring and threat detection mechanisms.

• Quantum computing: This technology will get momentum across various computer-heavy fields, including drug discovery, cryptography, meteorology, material science, optimization of complex systems, etc.

• Augmented reality (AR), virtual reality (VR) & immersive Internet: The shrinking distinction between the real and virtual worlds will continue as technologies such as augmented reality (AR), virtual reality (VR) and the immersive internet are removing the blockades. With the infusion of generative AI, this concept remarkably rises in the digital twin.