83% firms believe technology seen in science fiction movies already a part of their lives, or will be soon: Report

Greek philosopher, Heraclitus had said, “Change is the only constant,” centuries ago. That quote remains apt to this day as we see the world changing right infront of our eyes. With Covid making sure we adapt technology at a rapid pace to survive and grow. This evolution has led people to innovate and become future ready.

Keeping this in mind FedEx had commissioned a study, Future is Now, which showed that 60% of the companies that FedEx spoke to were experimenting in various aspects of their business to be future ready. 87% stated that over the past year companies demonstrated their ability to understand ‘What’s next?’ and present possible solutions. 90% agreed that organizations, communities, and individuals who adopt change were better placed to react when met with unexpected circumstances.

The study surveyed more than 4,000 respondents in 18 cities in India and focused on three main views:

• Being dynamic
• How India is open to experimentation and innovation
• To what degree the country is sustainability conscious

India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities.

According to the study 79% stated that India was prioritizing technology like Artificial Intelligence, the Internet of Things, and blockchain to deliver a future-ready world. Approximately 83% believed technology they’d seen in science fiction movies was either already a part of their daily lives, or likely to be in the next few years.

With technology-led change to continue, the study identified some industries as drivers in shaping the cities of the future, with healthcare, infrastructure and logistics, and banking and finance leading the change.

In a statement, Mohamad Sayegh, Vice President, India Operations for FedEx Express, said, “With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business. Progress in blockchain, IoT, automation, and robotics is not only going to lead the way for the logistics industry, but all industries in the future.”

Towards a dynamic future
To keep innovating all companies must anticipate their customers' needs. The pandemic accelerated change in almost every aspect of life, from how we live and work, to how businesses interact with their customers, and how customers purchase products and services.

India has also jumped ranks in the Global Innovation Index and is home to a thriving start-up ecosystem. Success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation.

A sustainable mindset
Consumers are now growing more conscious of the impact their choices have on the world around them - whether pertaining to the environment or their communities. Even their purchasing decisions are increasingly influenced by their perception of an organization being sustainable and responsible.

The response from the study showed that organizations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long term. As the world keeps evolving, technology and trends will drive changes in lifestyle, behaviors and attitude. For both businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.