Software and Tech Integration - Key Drivers for Business Growth in the Future
SiliconIndia interacted recently with Bharat, who shared his insights about the current software development landscape and the prospects it has to offer. Here is a select extract from the exclusive interview:
Bharat Raizada has an MBA in Finance and IT from IIM Calcutta, and over 25 years of experience in the IT industry. Before joining Wells Fargo in 2019, he successfully handled key roles across diverse companies such as JPMorgan Chase & Co., Goldman Sachs, Cognizant Technology Solutions, and ECS Consulting.
1. What are some of the latest technologies currently disrupting the business world?
The technology landscape has undergone a sea change over the last 25 years. The internet revolution in the early 2000s marked the beginning of this technological transformation. The spread of mobile connectivity and the exponential increase of the computing power of these handheld devices brought about another major shift in the global business landscape. This phenomenon multiplied even further with increased smartphone penetration and high-speed internet connectivity at affordable rates. Together, these disrupted how we carried out our daily tasks, from ordering food online to sending/receiving money through instant bank transfers.
Today, we live in a globally connected world where the 24x7 nature of our business has changed the way we design and support applications. It has led to new trends like agile development, DevOps, Site Reliability Engineering (SRE), cloud computing, robotic automation and so on. Along with this is the data story – the amount of data generated daily. Just to give a sense of the mammoth proportion of data generation, globally, there were over eight billion Google searches and over half a million stories uploaded on Instagram daily, and in India alone, there were over 20 billion transactions done in Q2 last year. All the surge in data coupled with faster compute capabilities is also going to see acceleration in the space of Data analytics, AI and ML
2. How are today’s technologies impacting the software development space?
These are inspiring times for every software development professional. AI technology has become mainstream and is revolutionizing how developers function by developing large language modules. Developers have immense opportunities to create significant innovations in today’s Open AI scenario. AI tools such as ChatGPT are enhancing a developer’s ability to write code using AI-based payer programming, thus notably reducing the duration of the coding process. This has allowed developers to focus on their core functions freely.
Also, technologies like AR/VR, blockchain, and others will evolve significantly over the next few years, opening new avenues for developers. Quantum computing will gain widespread popularity, especially in the BFSI segment. For any developer, what is most critical today is to continue upgrading their functional skills and have a clear understanding of the direction of the industry. Contextualizing these changes and leveraging them for the work you do are good bets to guarantee your success as a developer.
3. What are some of the key skills every developer must possess or learn to fast-track their career growth?
Problem-solving skills, analytical skills, and clear communication are vital for every developer to succeed in today’s dynamic business landscape. As you grow within your organization, effectively working in your teams with product owners becomes very important. As you mature along your career journey, as a developer you must clearly understand the nuances of the process. And if you can manage to keep adding to your skillsets, especially from other domains, your professional growth will undoubtedly come faster than that of your peers.
It must also be kept in mind that the way a developer designs and develops a product/service today is very different from what it was a decade ago. For instance, 24/7 banking services would have been unthinkable two decades back. But now that it is the norm, the banking system must be designed to be scalable and secure, readily accessible to customers through any device or channel of their choice. The complexities involved in the development cycle have multiplied manifold as a result.
To summarize, the top three aspects that every developer must focus on are to be deeply technical, to cultivate thorough domain knowledge, and to develop the ability to articulate, communicate and influence more prominent groups. These three skills are essential to start growing in your career.
4. Throw some light on the prospects that you foresee in the software development space.
Now that most processes around us are already, or in the process of being, digitized, it has opened up new opportunities for software developers to impact almost all business areas. Right from the simplest daily tasks to sophisticated and niche ones, everything is tech-integrated today. Our computing capabilities have increased significantly, thus enabling organizations to process data and offer suitable solutions to their customers.
The growth opportunities are tremendous for a developer who can clearly understand the domain and design solutions accordingly. Software developed through a combination of automation technologies like AI/ML and human intervention will be the future. And of course, it goes without saying that software and technology will be at the core of every industry function in the foreseeable future.
Bharat Raizada has an MBA in Finance and IT from IIM Calcutta, and over 25 years of experience in the IT industry. Before joining Wells Fargo in 2019, he successfully handled key roles across diverse companies such as JPMorgan Chase & Co., Goldman Sachs, Cognizant Technology Solutions, and ECS Consulting.
1. What are some of the latest technologies currently disrupting the business world?
The technology landscape has undergone a sea change over the last 25 years. The internet revolution in the early 2000s marked the beginning of this technological transformation. The spread of mobile connectivity and the exponential increase of the computing power of these handheld devices brought about another major shift in the global business landscape. This phenomenon multiplied even further with increased smartphone penetration and high-speed internet connectivity at affordable rates. Together, these disrupted how we carried out our daily tasks, from ordering food online to sending/receiving money through instant bank transfers.
Today, we live in a globally connected world where the 24x7 nature of our business has changed the way we design and support applications. It has led to new trends like agile development, DevOps, Site Reliability Engineering (SRE), cloud computing, robotic automation and so on. Along with this is the data story – the amount of data generated daily. Just to give a sense of the mammoth proportion of data generation, globally, there were over eight billion Google searches and over half a million stories uploaded on Instagram daily, and in India alone, there were over 20 billion transactions done in Q2 last year. All the surge in data coupled with faster compute capabilities is also going to see acceleration in the space of Data analytics, AI and ML
2. How are today’s technologies impacting the software development space?
These are inspiring times for every software development professional. AI technology has become mainstream and is revolutionizing how developers function by developing large language modules. Developers have immense opportunities to create significant innovations in today’s Open AI scenario. AI tools such as ChatGPT are enhancing a developer’s ability to write code using AI-based payer programming, thus notably reducing the duration of the coding process. This has allowed developers to focus on their core functions freely.
Also, technologies like AR/VR, blockchain, and others will evolve significantly over the next few years, opening new avenues for developers. Quantum computing will gain widespread popularity, especially in the BFSI segment. For any developer, what is most critical today is to continue upgrading their functional skills and have a clear understanding of the direction of the industry. Contextualizing these changes and leveraging them for the work you do are good bets to guarantee your success as a developer.
3. What are some of the key skills every developer must possess or learn to fast-track their career growth?
Problem-solving skills, analytical skills, and clear communication are vital for every developer to succeed in today’s dynamic business landscape. As you grow within your organization, effectively working in your teams with product owners becomes very important. As you mature along your career journey, as a developer you must clearly understand the nuances of the process. And if you can manage to keep adding to your skillsets, especially from other domains, your professional growth will undoubtedly come faster than that of your peers.
It must also be kept in mind that the way a developer designs and develops a product/service today is very different from what it was a decade ago. For instance, 24/7 banking services would have been unthinkable two decades back. But now that it is the norm, the banking system must be designed to be scalable and secure, readily accessible to customers through any device or channel of their choice. The complexities involved in the development cycle have multiplied manifold as a result.
To summarize, the top three aspects that every developer must focus on are to be deeply technical, to cultivate thorough domain knowledge, and to develop the ability to articulate, communicate and influence more prominent groups. These three skills are essential to start growing in your career.
4. Throw some light on the prospects that you foresee in the software development space.
Now that most processes around us are already, or in the process of being, digitized, it has opened up new opportunities for software developers to impact almost all business areas. Right from the simplest daily tasks to sophisticated and niche ones, everything is tech-integrated today. Our computing capabilities have increased significantly, thus enabling organizations to process data and offer suitable solutions to their customers.
The growth opportunities are tremendous for a developer who can clearly understand the domain and design solutions accordingly. Software developed through a combination of automation technologies like AI/ML and human intervention will be the future. And of course, it goes without saying that software and technology will be at the core of every industry function in the foreseeable future.
