The term “digital transformation” has gone from a boardroom buzzword to a vital strategic imperative, although the movement is still in its early stages. According to IDC, worldwide digital transformation investment will expand at a compound annual rate of 17.1%, reaching $2.3 trillion (53 percent of all ICT spending) by 2023. The United States will spend the most in the digital transformation arena, followed by Europe, China, and India. The technological revolution of today contains tremendous potential, but it also poses new obstacles. 

As we begin a new decade, it is evident that we are still a long way from realizing the full potential of technology to solve our most pressing problems. Technology innovations have accelerated and grown exponentially in only the last few years. 90% percent of the world’s data has been created in the previous two years; artificial intelligence can now detect more than 50 eye diseases better than a doctor; the world’s first fully-electric aircraft completed a successful Virgin voyage, and 5G is no longer a distant future, but a reality in many countries. In the age of digital globalization, India is remaking itself. India is one of the largest and fastest growing digital consumer marketplaces globally, with over 500 million internet users, but corporate adoption is unequal. Technology is set to transform practically every area of India’s economy as digital capabilities develop and connection becomes more pervasive.