Current crisis major turning point for digital transformation of workplace

Here are some thoughts on the future of work from Robin Bhowmik, Chief Business Officer, Manipal Global Academy of BFSI.

"Integrating technology in the workplace is an ongoing process that aims to reduce the workload of employees. With the advent of new-age technologies like artificial intelligence, machine learning, IoT, cloud computing, etc., the workplace culture itself is undergoing a paradigm shift. With automation, organisations have improved efficiency and lowered costs allowing people to increase their own productivity and undertake more important tasks.

BFSI globally, and in India, is becoming a lot more agile, modular and customer focussed. This means highly differentiated products need to be designed and launched quickly offering unique and personalised solutions that meet the consumer’s needs.

To do so, the BFSI industry needs to scale up abilities within defining technology platforms that include artificial intelligence, blockchain and cybersecurity. In addition, the need to offer a differentiated and customised consumer experience becomes paramount with an increasing focus on high net worth individual groups who demand higher attention and consume larger portfolio offerings.

As a professional training institute, Manipal Global Academy of BFSI always aims to build talent fit for the future. Since the BFSI industry is a forerunner in adopting new technologies, we develop programs keeping all these aspects in mind. Digital banking, cybersecurity, artificial intelligence, blockchain, etc., are already taught in our programs and updating the content is an ongoing process.

We have implemented a remote training model for our learners at present, wherein all our training programs are conducted on a virtual platform.

The current crisis has become a major turning point for the digital transformation of the workplace. Mandatory social distancing has compelled companies to explore work from home or 'decent digiwork' as a core business strategy. Technological development like high-speed internet, video conferencing facilities and advanced digital devices has enabled organisations to streamline this shift to digital work.