“The science of today is the technology of tomorrow”
– Edward Teller
The world is waking up to explore the vast possibilities of emerging technologies. Artificial Intelligence, Robotics, Blockchain and Internet of things (IOT) are creating a big buzz in the global markets. They are attracting Billions of Dollars of Private Equity funding. These technologies are creating brand new markets which did not exist earlier.
When it comes to such digital transformations, sectors like Banking, Financial Services, Insurance (BFSI) and Telecom, are on a path to become the growth engines of our economy. Industrial giants are making big changes internally to adapt themselves to these changes, these technologies, which can make them more competitive globally. Let’s take an example of a company to understand this better.
IBM, nicknamed the “Big Blue” is one of the world’s largest employers, with most of them from India. When it comes to adopting new technologies, IBM believes that a majority of their growth will come from the BFSI sector.
They recently organized a two-day “The THINK Forum” where all senior IBM officials and key business leaders were present to discuss the future of business with these new technologies. In order to prepare a workforce that is well equipped to handle any new tech, IBM is planning to build skill development centers across the country.
“IBM is also in talks with NITI Aayog and other learning and development organizations to understand what platform we can put in place to skill more people” – Lula Mohanty, IBM Global Business Services.
Present in India since 1951, IBM India has now expanded its operations with regional headquarters in Bengaluru and offices across 20 cities of the country.
With the aim of helping Indian enterprises deliver next-generation consumer experiences, a global consulting agency known as Bluewolf, an IBM company, also announced a new practice in the country. They introduced “Salesforce”, a leader in the customer relationship management (CRM) solutions.
IBM now manages 100-200 customers for the Salesforce practice in the country. It expects the number to grow rapidly in the coming years as new enterprises (specially Banks) and government agencies depend heavily on them for digital transformation initiatives.
“India is one of the highest growth markets for Salesforce,”
says Sunil Jose, Senior Vice President, Salesforce India.
IBM is also looking to double its investments in the country. They are planning to hire 1,000 employees in Hyderabad alone by 2020. They already have a strong base in Bengaluru, Hyderabad, Mumbai, and Delhi. India is the market that is continuously growing and adding profits for the company as the young recruits can easily be trained on new technology.
The (CRM) solutions provider (Salesforce) also has a “Centre of Excellence” in Hyderabad. This is the first major center for the cloud software company in India.
A major reason for IBM to be extremely bullish about the Indian sub-continent is the large number of Fintech startups thriving here. These companies are offering many banking and financial services to people who previously had no access to banks and NBFCs. With a lot of citizens now having access to these services, the India BFSI sector is poised to become the largest in the World.
This is a major reason why the BFSI Industry continues to prosper even in a tough economy. Companies like IBM are bullish and are offering attractive career options for finance executives.
So make hay while the Sun shines, with BSE Institute Limited. We offer a comprehensive program to help you gain an understanding of the BFSI industry. Our GFMP program trains a candidate to not only meet be knowledgeable about the industry, but it also helps them build the skills the industry needs immediately.