In fast-emerging data-driven economy, Internet of Things (IoT) will play a crucial role, Bhavani Shankar, executive manager of Electronics System Private Limited said on Saturday.
Speaking at the concluding day of two-day seminar on latest trends in information technology (IMPACT-2018) held by Visakhapatnam chapter of Computer Society of India (CSI) in association with Rashtriya Ispat Nigam Limited, he said because of IoT, there was lot of demand for smart devices. Stating that 25 billion devices were in circulation, he said on an average one person was using 3.5 devices connected to internet.
He said the devices would connect to the real world through IoT and gave details how Uber had turned into third largest automobile company in the world by using digitisation and Alibaba became the largest retail company. Overall benefit and lifetime ownership cost as well as diagnostic analysis based on data were changing the entire world.
The conference saw talks on blockchain by Indian Institute of Science emeritus professor N. Viswanadham, Amey Rajput from Tech Mahhindra and Srinivas Raju Vuppalapati, director of Alykas Innovations Pvt. Ltd.
CSI city chapter chairman and RINL Director (Commercial) Prabir Raychoudhary remarked that the event was very successful with several domain experts deliberating on disruptive technologies.
APEITA CEO (Promotions) C. Tirumala Rao spoke initiatives taken by the State government to make Visakhapatnam the fintech hub of the country. Gitam (deemed to be university) Chancellor Koneru Ramakrishna Rao stressed on the importance of human brain over machines. CSI regional vice president Vishwas Bondade spoke.
