Former Prime Minister Atal Bihari Vajpayee declared May 11 as National Technology Day to honour the historic Pokhran nuclear tests conducted by the Indian Army in Rajasthan in 1998. This day marks a significant milestone in country's scientific progress and serves as an annual celebration of the India's technological prowess and innovations. It encourages reflection on how technology can propel national development, enhance global competitiveness and address societal challenges.
As we celebrate National Technology Day 2024, Tech Observer Magazine speaks with industry leaders to understand their vision and gather their reflections on the transformative power of technology across various sectors.
Financial Empowerment Through Technology
Aryaman Vir, CEO of WiseX, underlines the importance of technology in democratising finance. WiseX, which leverages AI for wealth management, illustrates how technology tailors financial solutions to individual needs, enhancing the inclusivity of commercial real estate investments.
Vir said, “National Technology Day serves as a timely reminder of the profound impact innovation has on financial empowerment. Our PropTech platform, powered by AI, personalised investment decisions, unlocking a universe of possibilities for our clients.” This approach not only democratises investment opportunities but also emphasises the need for responsible and ethical decision-making in financial technologies.
Cultivating Innovation in IT and Software
Ram Meenakshisundaram, CTO, Virtusa Corporation, ties the celebration to nurturing future technology leaders. Virtusa's Jatayu Initiative focuses on empowering young innovators, aligning with this year's theme: ‘From Schools to Startups: Igniting Young Minds to Innovate.' Ram said, “By providing mentorship and guidance, we fuel the spirit of creativity, paving the way for a future where innovation knows no bounds.”
This commitment is echoed by Narasimha Kamath of o9 Solutions, who highlights how their company's focus on AI-powered solutions drives continuous innovation, essential for maintaining a competitive edge in today's fast-paced tech landscape.
“”Innovation lies at the heart of progress, driving companies forward and shaping the future of industries. Technology Day reminds us of innovation's pivotal role in our society, particularly for the youth
AI's Role in Education and Storytelling
Chaitanya Chokkareddy of Ozonetel Communications explains how integrating AI into educational contexts can transform traditional learning paradigms. Through projects like the digitisation of Telugu folk tales, Ozonetel not only preserves cultural heritage but also immerses students in hands-on AI development.
Chokkareddy said, “These initiatives allow students to transcend passive learning, fostering proactive problem-solving and critical thinking skills essential for the AI-driven workforce of the future.”
Fashion Industry's Technological Integration
In the space of fashion, Sidhant Keshwani, Founder & CEO of Libas, stresses how technology underpins operations within the fashion industry, from design through to virtual retail. “On National Technology Day, we acknowledge the symbiotic relationship between innovation and fashion.
Technology not only drives our operational efficiencies but also fosters sustainability and creativity,” says Keshwani. This perspective reinforces the idea that technology in fashion goes beyond mere automation, influencing creative processes and consumer interactions.
Enhancing Civic Services Through Smart Technologies
Aalok Kumar, President & CEO, NEC Corporation India discusses the significant impact of technology on civic services, emphasising the evolution of smart cities. “India's journey towards becoming a ‘Viksit Bharat' heavily relies on innovative civic solutions powered by AI and big data analytics. Our efforts are aimed at redefining citizen-centric services, making everyday interactions with the government more efficient,” Kumar notes.
“Over the past decade, India has matured into global leadership in technological innovation. This has altered the way in which we experience how the day-to-day services are provided and above all, how citizens utilize civic services. This transformation is fundamentally underpinned by the recognition of technology's potential to change lives and communities for the better.
Today, India is on a steady path to realise its vision for a ‘Viksit Bharat' by 2047, and the role of technology comes into sharp focus with greater responsibility than ever before. At this juncture, the tech innovation ethos in India is evolving to “purposeful innovation” aimed at societal good, demanding creative and responsible application of AI, ML, and big data analytics to solve day to day problems of the common man,” he said.
Empowering the Next Generation
The overarching theme across all sectors this National Technology Day is the empowerment of the next generation of innovators. Leaders like Srividhya Deshpande, Global Talent Lead, Egen highlight collaborations with educational bodies to prepare students for technology-driven futures, underscoring the need for an industry-academia synergy to address the skills gap in the tech workforce.
“A recent NASSCOM report estimates that, of the 3 million joining the IT workforce, only 25% of graduates with engineering background are employable. Therefore it becomes critical to address the gap between skills needed for high-quality technology jobs and work readiness of graduates,” she said.
As India continues to celebrate its technological achievements and aspirations on National Technology Day, the reflections from leaders not only paint a picture of current advancements but also set a vision for future innovations where technology remains central in driving economic growth, social inclusion, and sustainable development, said industry leaders.
