With the pandemic prevailing for more than three months now, navigating business in this time of uncertainty is something we all need to contemplate. In this time of crisis, one would require an approach to redefine and reset their business plan, It’s time to prioritize the resources and reinvent the business model to sail through this new world of business we’re all witnessing today.
It is expected that this epidemic will significantly affect extant social behaviors, spending patterns, travel habits, supply chain & logistics, country inter-dependence & service delivery models with impact on lifestyles, markets & the world economy. The global economy was undergoing turbulence in 2019, & now, after Covid-19 epidemic, the risk of global recession in 2020 is high as nation’s shutdown economy activity to limit the spread of infection. At the same time, the Indian economy is also experiencing significant slowdown over the past few quarters. There was a strong hope of recovery in the 4th quarter of 19-20. The corona virus epidemic made the recovery extremely difficult in the near to medium term, causing severe disruptive impact on both demand & supply side elements which has the potential to derail India’s growth story.
At this difficult time, where there is shortage of labour, technology plays the crucial role in the transformational journey and technologies like IoT and AI being used for remote monitoring services. The smart factory is becoming smarter and the smart manufacturing is driving an unprecedented wave of IT technologies into industrial spaces. As companies leverage AI, robotic processing automation, and more, they will require edge computing solutions to reduce latency and enable resiliency, while ensuring privacy and security, and addressing important data and bandwidth requirements.
For industrial operators to capture the benefits of increased automation, they cannot rely on cloud-technology alone to bring the resiliency and speed demanded by AI, HD cameras and other Industry 4.0 technologies. Local edge data centers are IT infrastructure enclosures/spaces/facilities distributed geographically to enable endpoints on the network.
The industrial edge is one of the fastest-growing segments of industrial automation and a key driver that is influencing digital transformation and make any crucial changes in real-time that will drastically improve the operations by on-site data capture , real-time analysis of data is performed and convert that into intelligent information, and then shared with the cloud and throughout the entire enterprise while addressing manufacturers’ concerns, such as latency and security for production environments.
To complement this transformational journey, Edge computing is an emerging trend for the industrial space presenting a new opportunity for entrepreneurs into system integration business to extend their business model and establish their role as consultants in both the OT and IT requirements. The fact is ,when we combine the power of the partner eco-system, they are the organisations into system integrators and IT solution providers (which we call them as the VARs) they would bring revolution.