Indian Technology Landscape So Far in 2023 & Future Expectations

An IIM Bangalore alumnus, Sriram boasts of over 25 years of experience across diverse tech functions. He has been associated with Sabre for over five years now, prior to which he has successfully handled key roles across companies such as Syniverse, Oracle Corporation, Polaris Software and Kaashyap Radiant Systems. In a recent conversation with Siliconindia, Sriram Gopalswamy, MD, Sabre Corporation gave us a brief, yet insightful overview of the overall technology landscape so far this year, and discussed its future prospects entering the New Year as well. Below are the excerpts from the exclusive interview

How has been the technology landscape in 2023, especially from an Indian standpoint?

2023 was a great year for India in terms of technology. The adoption of cloud and the kind of cloud services industry boom we have witnessed across almost every industry is tremendous. Numerous companies have gone completely digital and moved a lot of their data from regular data centers into the cloud. Additionally, many organizations have upskilled their existing workforce and become cloud experts today. Secondly, AI has gained widespread lately, wherein people are using AI in every way possible – be it to make a business presentation or to create music. Another key aspect of 2023 was the emergence of numerous ONDC platforms due to the advent of UPI payment system. Today, several countries are accepting UPI as a mode of payment, and many others are even wanting to implement UPI as well.

What were some of the major concerns for tech organizations while entering 2023, and how is the scenario now?

Firstly, several large tech giants and service companies are not hiring at the pace that the industry would want them to, which added immense pressure on people aspiring for a career in the technology vertical. This is creating an imbalance in the tech ecosystem since we have been having a consistent growth of people joining the technology ecosystem over the past years. As a result, this hiring slowdown was seen as a major concern this year by many experts in the industry. Additionally, the overall growth trajectory of the tech industry in 2023 India remained the lowest over the last 25-30 years, which was another concerning aspect for the tech fraternity this year.

Tell us about the two most significant tech advancements of the year 2023?

The adoption of cloud & AI/ML and the 5G revolution have been two of the most important tech advancements that we witnessed this year. The amount of data that we can transfer, the speed at which we can do that, and the security aspects associated with it are all at an all-time high today. I strongly feel that all these cutting-edge technologies leveraged together in the right way will no doubt become the most formidable tech influence in every aspect of our lives.

What does the future hold for the tech landscape in 2024, according to you?

We are living in the AI world, today, wherein the most trending topic currently is OpenAI. Recently, the OpenAI team has tweeted that they have been able to build a model which is AGI and not AI. This is huge news for entire global tech community. By correlating cause and action, AGI can learn by itself, which is a big breakthrough that can change the way we live. Given the amount of data that it can calculate and the speed at which it does so, it will enable hospitals to have more robotic doctors performing surgeries. We might even be competing with robots for almost every kind of jobs – be it in music industry, fintech, healthcare or legal.

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