Transcript Devdutta B Modak

Excellence through Innovation
Embracing Emerging Technologies
for Quantum Growth
Devdutta B Modak
Managing Director
Spectrum Business Support Ltd
November 6, 2008
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Agenda
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Understanding what we’re looking for!
Examples of Emerging Technologies
Learnings and Opportunities
Strengths, Weaknesses, Threats
Suggestions for Professionals
Suggestions for the ICSI
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Understanding
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Excellence
Innovation
Embracing
Emerging Technologies
Quantum Growth
• Change
• Context
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Excellence & Innovation
• Human best ! Not to confuse excellence
with perfection – excellence is humanly
possible. Perfection is Godhood.
• Innovation is ideating to create
something new or re-organising old stuff
in a new way.
• Ideas are like rabbits.You get a couple
and learn how to handle them, and
pretty soon you have a dozen.
– John Steinbeck
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Emerging Technology
• DEFINITION: One whose science, basic
principles and theory are understood, and at
least some useful applications are
recognized. However, the potential is mostly
unfulfilled as evidenced by a lack of
significant products, possibly by the lack of
imminent or present market demand.
• This is Not what we’re calling Emerging
Technology in today’s session. Here and now,
we’re going to discuss technology which is
established but relatively unknown.
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Quantum Growth
• Not Louis Navellier’s newsletter
• Not the usually ridiculed “Hindu rate of
growth” – usually 2 to 5 % per annum.
Nor can it be an increment over the
previous period viz.,– “we grew 10%
last year, so this year we should grow at
least 12-14%.”
• “Quantum Growth” is intended to
convey – supernormal growth, not
merely incremental growth!
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Change and Context
• There is a vast difference between the world
economy of the National Convention of 2007 and
2008! The context itself has changed – change
continues - the pace of change will accelerate –
disruptive and breakneck speeds will be the norm
• That’s the true genius of America: that America
can change! – President-elect Barack Obama in
his victory speech
• We must BE the change we wish to see in the
world – Mahatma Gandhi
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People-powered Search
• All digital information CANNOT be indexed,
organized and understood algorithmically – i.e.
using software alone!
• The brainpower of ‘000s of Internet users can be
harnessed for tasks beyond software – Human
Intelligence Tasks = HITs
• Humans beings are better than computers at big,
informationintensive tasks viz., indexing the Web,
or searching satellite photos for lost vessels, etc.,
so long as these big jobs are broken down into
thousands of small ones - Internet Piecework and distributed to willing workers.
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Augmented Reality
• Nokia Research Center, Finland a smart mobile
phone with a GPS sensor, a compass, and
accelerometers – “Mobile Augmented Reality
Applications”- will help you get where you're going
and decide what to do once you're there.
• Alternatively, image recognition and analysis – on
the fly will help you do the same.
• "The big missing link when I started was a small
computer. Those small computers are now cell
phones." Director of Columbia Univ Mobile
Computing Lab, Dr Steven Feiner.
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Offline Web Applications
• Offline applications, using Web technologies
like HTML and Flash, can take advantage of
user’s computing resources as well as those
of the Internet. They recognise both the
benefits and limits of the move from desktop
to Web.
• Adobe Integrated Runtime (AIR) releasing
this year. eBay, AOL, and Anthropologie have
built applications using early versions of the
software. Google following with “Gears”.
• The web browser was made for "the Web of
pages”. There is a need for an interface more
appropriate to the Web of – offline & online –
software that people use today.
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Reality Mining
• Cell phones now collect significant data on
personal behaviour. Techniques being developed
to effectively analyse such information.
• All measurement devices are ignorant of things
that matter most. Web pages & phone numbers
not enough. “We live to interact with other people.
Now, with reality mining, you can see how that
happens ... it's an interesting God's-eye view."
Sandy Pentland, MIT
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Modeling Surprise
• Surprise modeling combines data mining
and machine learning to help people do a
better job of anticipating and coping with
unusual events.
• Modeling the “human cognitive process”
• “…look at the kinds of things that have
surprised us in the past and then model the
kinds of things that may surprise us in the
future.” Eric Horvitz, Adaptive Systems &
Interactions group, Microsoft
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Jurix
• Several ‘00 Man-years Law Information Data
Capture effort since 1990. Vertical (subject-wise)
and Horizontal (court-wise) Modules with caselaw
from Tribunals through High Courts and the
Supreme Court, since 1950. Also contains
statutes, rules & regulations, notifications &
circulars.. 300,000+ Judgments, 1000+ statutes,
80,000+ notifications, 2+ Million pages, containing
5+ GB data. At www.ejurix.com or Grand Jurix on
CDs/DVDs with weekly web-downloadable
updates. Implementable on stand-alone and
networked machines.
• Eastern Book Co Vs D B Modak and Another
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Legistix
• All Statutory (and Governance) filings documentation
can be tagged and assigned to various users of the
system for suitable action, with alarms and alerts to
ensure that filing deadlines are adhered to. Audit trails
enable the system to track user level performance
management.
• Compliance and Governance management need multi
departmental interaction. Data can be sourced from
multiple locations.
• A highly configurable work flow management system
allows for creating users across the organization and
assigning security and propriety based rights and
privileges.
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Datafix - Ixsight
• Results – Sales, profits, size, shareholder
wealth, long-term survival and growth
• Caused by – Great (effective and efficient)
decisions
• Taken by – Decision-makers and executors
• Aided by – Information Systems
• Founded on – Quality Data collection,
acquisition and maintenance
• Getting there – with Ixsight solutions
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Ixsight Solutions
• Scrubbix – parse from different sources,
cleanse, standardise, and enhance data of
say Shareholder masters
• DeDuplix – locate unique shareholders /
bond-holders and repeat investors and
households who’re investing with your
company. Generate millions in savings from
mundane sources, viz., dividend / interest
warrants, stationery and postage.
• Profilix – going beyond identifying, to geomapping, profiling to understand marketing
for raising more funds, etc. Increase income
in millions or more.
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Learnings
• Not necessary to pioneer – 2nd or 3rd is fine!
• Start only with clearly adequate preparation
and funding support
• Choose your role – entrepreneuring or
intrapreneuring – and stay with it
• Start with a team – going it alone is only
worth doing when you’re dating
• Patience and perseverance are especially
important when you’re doing business in India
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Opportunities
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Leadership
Data Quality & Ethics Custodianship
Client Collaborator Combination
Value creation rather than Cost cutting
Long term rather than Short term
• Emanating from present role as Head
Statutory & Governance Compliance
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Strengths & Weaknesses
Strengths
• Familiarity with Law
• Comfort with existing management
Weaknesses
• Small Size of firm
• Lack of International connections
• Lack of USP
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Threats
Other Professionals • Chartered Accountants
• Lawyers
• Consultants
Other Organised Entities • Credit Rating Agencies
• Other local and international entities
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Company Secretaries
• Get InfoTech-adept – chiefly with the Web
• Acquire tools (computers, modems &
software) and skills (training and habit)
• Create large organizations by partnering or
forming limited liability companies
• Create expertise in areas of practice that
cannot be affected by lack of size
• Establish mutual benefit alliances
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The ICSI
• Move swiftly towards creating an environment
where members can partner other
Professionals, with certain obvious provisos
• Prepare to radically redefine the Profession
• Reduce/eliminate, dependence on Statutory
support for existence of profession - else,
prepare to face redundancy & extinction !
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Final Thoughts
• The greatest difficulty lies not in persuading
people to accept new ideas, but in persuading
them to abandon old ones !
– John Maynard Keynes
• What you have to do and the way you have to
do it is incredibly simple. Whether you are
willing to do it is another matter.
– Peter Drucker
• Kelyane Hoat Aahe Re Aadhi Kelechi Pahije!
– Samarth Ramdas Swami
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All the Best !
[email protected]
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