Thursday, March 22, 2018

30 percent of business will migrate to new technologies: Sunil Sood

Major disruption to come for BSFI sector in the coming years

  • 30 percent of business will migrate to new technologies: Sunil Sood

By Suyash Desai

The second day of Outlook Money Conclave 2018 reiterated on the theme of disruption in the banking, financial service and Insurance (BSFI) sectors.

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In a chat with the editor of Outlook Money, Mr Sunil Sood, CEO and MD of Vodafone India said that technologies are creating both opportunities and disruptions in the BSFI sector.  According to him, “Open banking, cloud-first strategy, APIs, artificial intelligence and block chains are going to be major disruptions in the years to come for the BSFI sector”.

He further added that more than 30 percent of business will migrate to these technologies.

Mr Sood identified telecom and the data providing services as a key enabler for the future of the country. “The biggest challenge that every CEO has is how to make a big organization go digital”, he said.

“The legacy of the big and established companies versus change and adaptation of the new digital technology space is the real issue in the age of disruption”, he added. .

Celebrating the spirit of International Women’s Day he said that Vodafone has given a directive to the HR team to at least have two toilets if any woman employee is going to be a part of the root plan.  was after the internal research of Vodafone that identified more than 50 per cent of the women work force is dropping out due to lack of adequate loos for women employees on the root plan.