This document reviews the current and future role of Information Technology
(IT) from the perspective of the primary,secondary and tertiary business
sectors. Agriculture/Farming and Mining businesses from the primary sector,
Manufacturing/Automobile businesses from secondary sector and Healthcare,
Finance, Retail, Media/Entertainment, Education and Sports are focussed on. The
role of communication technology is also discussed as Information Communication
Technology has become a superset of IT.
The use of information technology in
every aspect of life has grown tremendously in the last decade. The adoption of
technology has a huge impact in not only the way we communicate, commute and
transact but also in the way we do business. Every sector be it Manufacturing,
Banking and Finance, Healthcare, Retail or Automobile has undergone radical
change owing to the adoption of IT.
IT in India has been its fastest growing service sectors with an annual growth
rate above 8% since 20021.
India gained $154 billion revenue in FY 2017 just with the export of IT
and IT enabled services. The growth in the IT sector is attributed to
availability of a large pool of highly skilled, English-speaking, low cost
workers in some of the highly specialised domains. This matched with the
increased demand from foreign consumers seeking Indian IT services. The share
of the Indian IT industry in the country’s GDP increased from 4.8% in FY05 to
8% in FY171. The Unique Selling Point of Indian IT Service is
providing low-cost solutions, the plethora of cheap highly educated talent pool
available in the region helps.
Role of IT in Business has gained traction from the 90’s and it would be
interesting to assess its current role in any business model. With the current
level of dependence on IT, it seems like a no brainer that in the future
business would be heavily dependent of various form of technology.
3. Literature Review
Information Technology as a competitive advantage has been
well documented through case studies, frameworks by big consultancy firms,
anecdotes and through articles in journals. There is also research that
substantiates that IT alone may not be the game changer. Just because an
ecommerce company has a phenomenally efficient and good-looking App it would
not ensure that they would be selling more than their competitor with an
average website. IT has helped organizations gain sustainable advantage by
creating a flexible boundary less workforce, managing resource planning
efficiently and help sustain a mutually beneficial supplier relation2.
Study conducted by Vijay et al3.
found that IT is valuable, but the extent is dependent upon internal and
external factors. There also has been
efforts in the area to explain the role of each type of Information System in
the business. Office Automation System, Management Information System, Decision
Support System, Transaction Processing System are few of such systems which
have been developed to suit the needs of a department, they are also given the
flexibility to talk to each other and thus helps the senior management to look
into the bigger picture and make strategic decisions and plug the holes if any.
Yaser4 et al. in their study have looked into each of these types of systems
and explained their roles and the impact they could bring in the departments.
Although we found scores of papers trying to understand how to arrive at the
business value delivered by IT to any organization, we found hardly any papers
on trying to understand how consumers of these IT services perceive the impact
it has on the business. This paper attempts to gather the existing literature
available around the present and future role of IT in Business and is an
attempt to quantify how educated working class looks at it as a potential
panacea for all the business problems.
According to McKinsey, the IoT has a
total potential economic impact of $3.9 trillion to $11.1 trillion a year by
2025. At the top end, that level of value—including the consumer surplus—would
be equivalent to about 11 percent of the world economy.
Although fixed and short range will
be a significant part of IoT communications, cellular technology is forecasted
to grow as the technology of choice for IoT applications as well.
The above statistics forecasts a
significant business potential for cellular IoT and 5G is poised to enable this
is a cross-sectional study. Computer Literates were invited to participate in
the study by responding to the questionnaire which was uploaded using google
forms. A self designed, structure questionnaire was prepared. The questionnaire
contained variables like age, location, occupation, present role of IT in
business, future role of IT in business, perception of role of IT in business,
role of IT in achieving the business objective, which technology will have
maximum impact in the next 5 years. Results were analyzed using Microsoft Excel
2016 for Windows 7.Apart from this articles and white papers were from
different websites and information was procured from industry insiders.