We are now in the golden age of technological advancement and progress

For the past decade, Aurelius Corporate Solutions Pvt Ltd has been dedicated to providing the highest quality of service delivery for consultative insourcing solutions in multiple domains of multiple industries.

Sumit Peer, founder and CEO of Aurelius, tells us more. Excerpts:

BW CIO: What are the tech trends, which have transformed multiple sector and holds potential for exponential growth in 2019?

Sumit Peer: For the past one year we have seen growth in the sectors of Robotics, AI and machine learning, data driven technologies such as big data, data visualization and data analytics. IoT, cloud-based services, and industrial automation at a large scale have also seen a high growth.

But, these are the tech trends which are now so widespread that the concepts become high level abstract. If we want to see at the low level dynamics industry-wise, the healthcare industry has seen growth in online presence, tel-medicine and wearables.

The financial and digital market has seen an immense shift towards digital with better data, microservices, mobile and cloud banking and artificial intelligence playing immense role.

The industrial automation and manufacturing industry itself is seeing a growth through custom software and automation, multiple function devices, cloud integration and devop teams which focus on R&D.

BW CIO: What is the.growth of insourcing as an integral part of today’s IT/ tech industry and what is its potential in 2019?

Sumit Peer: The insourcing industry is slowly becoming the integral part of the IT and tech industry with organizations realizing the importance of in-house capabilities development and creating intellectual property in the process. We need to understand that we are in the golden age of technological advancement and progress.

There are breakthroughs everyday and these happen in the organizations the workforce of which are motivated enough to take the responsibilities in their own hands and consequentially lead to creation of value and intellectual property. We are already seeing a lot of traction with a huge number of organizations adopting insourcing and we are certain that we will see the growth of insourcing in the coming year at a faster pace.

BW CIO: Are there any tech advancements of 2018, which do not tend to be promising for 2019?

Sumit Peer: Without exception, with advancement in anything there are always some failures which are more or less collateral damages. Off the top of the head, the data breaches in the organizations we all know about has probably been the biggest damage to the tech industry and towards the faith of people.

With more than 87 million users effected, if not no-longer-promising, but for sure, we will no longer see the same enthusiasm towards social media platforms as have been so far.

Crypto-currencies is another technology which saw a major upheaval in the 2018 but no longer looks so promising. Same goes for Augmented Reality which is still struggling to find a huge fan/customer base. Robo-calls also started as a cost-effective solution to the call-center concept but it seems that it has done more harm than good and organizations are now ready to get rid of it.

BW CIO: Can you elaborate on the.data localization bill and companies that are to be brought under its ambit in 2019?

Sumit Peer: It is too soon to comment on the impacts the bill will have on the overall industrial health and customer privacy and moreover, the country India as a whole. Various US-based companies have already formed.

The US-India Strategic Partnership forum includes companies like Facebook, Mastercard, Visa, American Express, PayPal, Amazon and Microsoft to discuss methods and plans to approach Indian Lawmakers to work through the bill as it seems that the bill can hinder their business in India in multiple ways.

The U.S.-India lobby group said it was “nearly impossible” to implement “industry-specific regulations in our global data environment without the ripples being felt”.

BW CIO: What are the newer ways devised in the IT industry to deal with tech threats and data breach?

Sumit Peer: It is now common knowledge that we have immense data which calls for the need to protect the data and information from breaches and outside risks at all times and by all means. Several large organizations such as Target, LivingSocial, Facebook, Gmail and Twitter have fallen to the evils of data breaches and it has been a wake up call for the entire industry.

In case of a data breach, the following measures probably be the most basic and first to be taken.

* Capture all the traffic for forensic analysis and perform search and inspection.
* Change all credentials thereafter
* Report with honesty the damage and the actions being taken to revert the damage
* Get back to business as usual.

In essence, any data breach follows the simple process of setting up a task force, containment assessment of the extent and severity of the breach and finally notification.

BW CIO: Lastly, how will GDPR impact in the IT sector in 2019?

Sumit Peer: The General Data Protection Regulation act aims to provide people with the online protection that they are looking for. If companies reach for the consumers in the EU they need to fully understand GDPR and accordingly modify their services and processes to maintain legality.

The regulation aims to protect the people and their data and privacy but it also poses some restrictions and disadvantages to the technological advancements. The regulations may lead to roadblocks for data storage, the small business might get hurt and the free services might slowly get hur and die out.

Moreover, we would notice that other countries would follow suit and do the same in their governance.  The most serious issue that might emerge at the later stage is the reduced ability to track cyber crime which if you think about it essentially kills the initial reason why the regulation was adopted in the first place.