The Sea Raft For Sailing Through The Resilient Economy
Last time when I was offered an opportunity to contribute (by SiliconIndia), I chose to narrate my thoughts around A, B, and C of innovation economy to highlight the decisive role of Agile, Business leadership, and Cloud in fueling innovation as the primary growth engine for the new age (of) enterprises. This article takes the point of view one step further, considering the sea of opportunities that the new age of advanced technologies such as 5G Communication Networks, Artificial Intelligence (AI) and Machine Learning (ML), Internet of Things (IoT), Quantum Computing, Metaverse, and Robotics, among others, bring to the fore.
Today’s futuristic enterprises need to invest in capabilities that can make them adaptable, and enable them to pivot with times, to stay relevant
So, from A, B, C of innovation economy, let us take the viewpoint to a related aspect and call it the SEA raft for sailing through the resilient economy, breaking down resilience (building) into three key aspects as Security, ESG (Environment, Social, Governance), and Adaptability, that also echoed among the core themes in the recently held NASSCOM Cloud Summit 2022, as the enterprises adjust to the post pandemic world.
Security:In the backdrop of globalization and digitalization the enterprises operate in an increasingly interconnected world. The barrier to technology adoption has been further lowered by the public cloud. The socioeconomic and geo-political dynamics coupled with need for a greater financial inclusion, means that the potential points of failure and vulnerabilities in the information technology systems and the related cyber threats are only going to grow. 'S' for security hence needs to be treated as first factor in the SEA of resilient economy for building and sustaining enterprises of the future.
Environment, Social, Governance: From air quality index (AQI) to pollution control norms, and from carbon footprint to green cover it is hard to ignore the reality and urgency of environmental responsibility that has become a global call to action directed towards rebuilding a livable planet for the future generations. At the same time the idea of social equality and inclusion, and a responsibility to find purpose that can link human endeavors (of economic prosperity and wealth creation) back to the very society that nurtures the human endeavors, has been drawing greater attention. So, the ‘E’ of ESG that collectively represents responsible living needs to be embraced as the next defining characteristic of the resilient enterprises of the future.
Adaptability: The very essence of evolution and survival is apparent in the profound mechanism of conditioning and re-conditioning. The resilient systems and enterprises develop an auto healing and auto-correcting interplay with the environment in which they survive during adverse times and thrive when conditions turn favorable. An exceptional example of this can been witnessed in fire ants making a living raft to survive flooding. History and nature are full of such examples, but the scope of this article is limited to modern day enterprises. Today’s futuristic enterprises need to invest in capabilities that can make them adaptable, and enable them to pivot with times, to stay relevant. Such resilience building measures include investments in - service and product innovation, partner ecosystems, upskilling and reskilling, winning customer loyalty, and new age technologies. ‘A’ for ‘Adaptability’ is the third and vital element, as fundamental as DNA in the age of resilient economies. In conclusion, resilience complements innovation as the secret sauce that enables enterprises to take headwinds, head-on,to keep the journey of transformation going. Modern day enterprises can discover opportunities for growth by investing in the SEA (Security, ESG, and Adaptability) raft for sailing through the resilient economy.