Technology is the key to exploring new frontiers of economic recovery and resilience: Satya Nadella, CEO Microsoft

December 12, 2020

NEW DELHI, 12 December 2020: Mr Satya Nadella, Chief Executive Officer, Microsoft, today said that despite the constraint caused by the pandemic, digital technology is being adopted at scale for core resilience, not only for future transformation but for business continuity, which is the biggest structural change globally.

Addressing the AI & the New Digital World Ahead session at FICCI's 93rd Annual General Meeting on a fireside chat with FICCI President Dr Sangita Reddy, Mr Nadella said, "The ability to use the digital tools and our built-in infrastructure and capability around the digital track is going to create resilience and transformation."

Asserting further on the future he said that the broad paradigms are re-shaping the expectations especially the exponential changes and the exponential change is technology. "The innovation in India around digital infrastructure in every field, from financial services, healthcare to retail is tremendous due to the ubiquity of computing fabric that is available through every Indian business and every Indian citizen," he said.

Taking this a step further, Mr Nadella elucidated, "Computation and computing fabric is now embedded in the real world and the layer of AI and data capability is getting embedded in every consumer and business application is tremendous."

"We must make sure that the public sector is being supported in their modernization and then public-private partnership is helping adopt the changes and bring about more ubiquity to the changes," Mr Nadella further said.

"To develop the economy, a catch-up growth is possible when both the public institution and public sector can move rapidly," said the Microsoft CEO.

Speaking on the necessary conditions to be able to deal with complexities he said, there must be a sense of purpose that drives and gives meaning to the organization and the culture that exists in the organization, which are the core of the foundation.

"We must create technology which will enable other people to create technology," he stated. Speaking on his leadership mantra, he said, creating clarity, energy, and the ability to drive success are the core qualities of a leader. "We can't wait for the perfect pitch but we have to keep working despite what the world throws on us", said the global icon.

Dr Eric Schmidt, ex-Chairman Alphabet and Chairman of National Security Commission on AI (NSCAI) said, AI is a game-changer and the most powerful tool in generations for expanding knowledge, freedom, and increasing knowledge. "Science and engineering will leverage Artificial Intelligence," said Dr Schmidt.

He further mentioned that strong AI partnerships will be important to renew and protect individual rights, restricting commercial competition based on fair rules, and strengthening defence ties. "India is a natural central piece of a collation of democracy and strong bilateral partner which possess a thriving economy, shares economic value and a common interest against authoritarianism in Indo Pacific area," said Dr Schmidt.

Mr Raja Koduri, Chief Architect, Intel Corporation said, AI is observation of data that generates insights that enriched our lives in one way or another, which further led to many advancements in humanity. AI technology is the technology that is dramatically iterating this dramatic loop.

Dr Anish Shah, Managing Director and CEO - Designate, Mahindra Group said, AI is a step change that offers tremendous potential and challenges, and it is on us to leverage its full potential. "The real frontier for AI is human centric opportunities, to help solve humanity's biggest needs like health, agriculture, education, smart mobility, to enrich lives and to protect them," he said.

Prof Karim R Lakhani, Charles Edward Wilson Professor of Business Administration, Harvard Business School said, our research shows how AI is changing the business architecture of companies. The company's business model, how it captures value, and how it can offer maximum value to customers. He added "to succeed in this digital era, today's leaders must understand the processes behind data, patterns, and analytics and how it effects, their business."

Ms Nivruti Rai, Country Head, Intel India & Vice President, DPG, Intel Technology India Pvt Ltd said The new AI world is full of distributed intelligence, it ushers an era of human capacity and intelligence "In the future AI-based technology will ensure affordable and excellent quality healthcare with safer roads," said Ms Rai.

For more details on this session, please click on the YouTube Link: https://www.youtube.com/watch?v=W9ZOceNlplI&feature=youtu.be

Technology is the key to exploring new frontiers of economic recovery and resilience: Satya Nadella, CEO Microsoft

FICCI Media Division

Releases in the Event:

FICCI's Annual Convention & 93rd Annual General Meeting - Inspired India

Dec 11 - Dec 14, 2020 Virtual Platform

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