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1、TheintelligenteconomyLeveragingtechnologyfortheneweraOctober2017KPMG.com/inChangesaretakingplacearoundusconstantly,butbythetimewerealisethem,ourentirelifeseemstohavechanged.Whiletherearemanychangesthatwe,perhaps,neverthinkabout,therearesomethattakeusth
2、roughajourneyofimmenseyetexcitingtransformation.Technologicalinnovations,notsurprisingly,aredrivingmostofthesechanges.Technologyhassignificantlytransformedthewayconsumersbehave,thewaybusinessesareconductedtodayandthewaygovernmentsfunction.Consumersarei
3、ncreasinglybecomingtechnologicallymoreliterateandconstantlyonthelookoutforbetterproductsandservices.Theynowhavevariedsourcestoobtaininformationabouttheproductsorservicestheyseek,ratherthanrelyingentirelyonthemarketingdepartmentsofdifferentorganisations
4、.Inaddition,consumer-to-consumerinteractionshaveincreasedmultifoldandsoaretheopportunitiesfornewentrantstoexploitthefinerweaknessesofestablishedplayers.Technology,thus,isoneofthebiggestlevelersthatanyeconomyhaseverseen.Industriesarebeingchallengedwitht
5、heincreaseinthenumberofcompetingplayersonthebackoftechnology.Smallerfirmsareconfidentlychallengingthestatusquoandareaspiringtoclimbthecompetitiveladderfasterthaneverbefore.Withanincreaseincompetition,thereisanincreaseinthepressureonorganisationstocutco
6、sts,increasemarginsand,yet,providebettervaluepropositiontocustomers.Businesseshaverealisedthefactthata‘faster,better,cheaper’approachwouldnolongerworkwithoutfocussingontechnologicalinnovation.Thequestionorganisationsnowfaceis:Isyourinnovationinnovative
7、enough?Ascitizensandthecorporateworldareadoptingtechnologyquicklytoaddresstheirneedsandwants,governments,too,cannotaffordtostaybehind.‘DigitalIndia’initiativecapturesthisthoughtasavision,helpingtomakeIndiatechnologicallysound,asthegovernmentputsitseffo
8、rtintomanyotherinitiativessuchasAadhaar,BHIMandDigiLocker.Inalltheseinitiatives,technologyplaysakeyroletomakethingssimplerforcitizensandhelpensureeasiergovernance.Theefficiencywithwhichpublicservicesarebeingdeliveredisrapidlyincreasingl
