[DOCUMENT TITLE]

➢
Introduction
With the outbreak of the COVID pandemic
worldwide, technology has gained vital
importance in allowing the world to function
in the closest normality as possible.
Companies and consumers worldwide have
rushed to adopt technology into their daily
functions, resulting in exceptional
exponential growth in certain segments of
the technology sector. In the financial year
2019, India's IT industry generated annual
revenue of close to $180 billion. Most of this
revenue was generated in exports while
domestic revenue totalled less than $50
billion for the mentioned period. IT sector
directly employed over 3.9 million
individuals. While business intelligence
software showcased an impressive growth in
terms of revenue at 14.58%, it was the
application development and maintenance
revenue, which took the first position at 38%
growth. Software as a Service (SaaS) was
the largest segment in the rapidly growing
public cloud sector. Over the last few
decades, top IT companies in India have
become the global leaders in the information
technology (IT) industry and contribute to
India's growth and globally. Some of the best
Indian IT companies are part of the top
software companies' world over.
Here is the list of the top 5 IT companies in
India based on revenues:
➢ TATA Consultancy Services (TCS):
TCS has become the first Indian IT
company to have a market capitalization
of 100 billion dollars and has over
400,000 employees. TCS generates over
70% of Tata Sons' revenue and is one of
the global leaders in the sector.
Infosys: Infosys is a household name in
the IT space with over 200,000 in
different countries. The Company has a
total revenue of INR 60,878 crores in the
last four quarters.
➢ Tech Mahindra: Tech Mahindra is a part
of the Mahindra group, one of India's
most reputed organizations with over
110,000 employees across 90 countries.
The Company generated revenue of
23,562 crores in the last four quarters.
➢ Wipro: Wipro has several key focus
areas like Machine Learning, Data
Science, Analytics, and is currently
investing heavily in Blockchain
technologies with over 160,000+ people
employed across six continents. The
Company has a total revenue of INR
44,902 crores in the last four quarters.
➢ HCL Technologies: HCL Technologies
generated a revenue of more than INR
21,000 crores over the last year and has
a strong workforce of 117,000+.
Here are a few significant headlines that
summarise the pandemic dipped the year of
2020 for the business technology industry:
➢ Vodafone Idea Rebrands As 'Vi' To mark
merger completion
➢ Tesla enters Indian market, registers
company in Bengaluru
➢ EdTech companies see 5-year market
growth within one year due to mass
adoption in light of pandemic
➢ PUBG and Tiktok among 118 Chinese
apps banned by India
➢ Elon Musk becomes the richest person in
the world, with a net worth of more than
$185 billion
➢ Uber fires 3,700 employees over a zoom
call

1

Buzzwords and
Trends from the
Technology
Sector
1. Big Data
In the 1950's decades before anyone uttered
the term "big data," businesses were using
basic analytics, essentially numbers in a
spreadsheet that were manually examined to
uncover insights and trends. So, we have had
an essential realization that data that streams
into a business can be analyzed to get
significant value from it. But with the ever-
increasing pace of technological
advancements, we had to evolve with
respect to the way we handled our data. And
now in today's time when numerous sources
at super-fast speeds contribute to a single
firm's data, even our conventional forms of
data storage and analysis have failed to cope
up with this challenge. This massive amount
of data from varied sources and coming at
such high speeds is what we call "Big Data".
More formally big data is defined as " a
collection of data sets that are so complex
2
that it becomes difficult to process it using
traditional data processing applications. It is
a term that describes the large volume of
data – both structured and unstructured –
that inundates a business on a day-to-day
basis." But it's not the amount of data that's
important. Its what organizations do with the
data that matters. Big data can be analyzed
for insights that lead to better decisions and
strategic business moves. The new benefits
that big data analytics brings to the table,
however, are speed and efficiency. A few
years ago, a business would have gathered
information, run analytics, and unearthed
information that could be used for future
decisions; today, a company can identify
insights for immediate decisions. The ability
to work faster – and stay agile – gives
organizations a competitive edge they didn't
have before.
2. AI and ML
In the 1950s, the fathers of the field, Minsky
and McCarthy, described artificial
intelligence as any task performed by a
machine that would have previously been
considered to require human intelligence.
Often mistaken as synonyms, Machine
Learning is a branch of Artificial Intelligence.
Machine learning (ML) is a branch of artificial
intelligence, and as defined by the Computer
Scientist and machine learning pioneer Tom
M. Mitchell: "Machine learning is the study of
computer algorithms that allow computer
programs to automatically improve through
experience." Modern definitions of what it
means to create intelligence are more
specific.
Intelligence is not a skill in itself, it is not what
you can do, it is how well and how efficiently
you can learn new things. There are two
kinds of AI—weak (or "narrow") and strong
(or "general"). The anti-lock brakes in your
car, the spam filter and autocomplete
functions in your email, and the
recommendations that Amazon and Spotify
make are all examples of narrow artificial
intelligence. The Maeve and Dolores in
Westworld, the Samantha operating system
in Her, and the HAL supercomputer from
2001: A Space Odyssey, are representations
of artificial general intelligence (AGI)—but
actual AGI does not necessarily require
humanlike appearances or voices. Systems
capable of general decision-making and
automation outside of narrow specialities
(DeepMind beating a world champion Go
master) is AGI.
A neural network is a place where
information is sent and received, and a
program is the set of detailed, step-by-step
instructions that tell a system precisely what
to do so that it will accomplish a specific task.
How you want the computer to get from start
to finish—essentially, a set of rules—is the
"algorithm."
A deep neural network is one that has many
hidden layers. There is no set number of
layers required to make a network "deep."
Deep neural networks tend to work better
and are more potent than traditional neural
networks (which can be recurrent or
3
feedforward). Machine learning programs
run on neural networks and analyze data to
help computers find new things without
being explicitly programmed where to look.
In AI, machine learning is useful because it
can help computers predict and make real-
time decisions without human intervention.
Deep understanding is a relatively new
branch of machine learning. Programmers
use unique deep learning algorithms
alongside a corpus of data—typically many
terabytes of text, images, videos, speech,
and the like. Often, these systems are trained
to learn on their own. In practical terms, this
means that more and more human
processes will be automated, including
software writing, which computers will soon
start to do themselves.
3. FinTech
Financial Technology or FinTech describes
the amalgamation of financial services and
technology. The term FinTech is often tossed
around in the media and casual conversation.
And while many use the word, its specific
meaning often gets lost somewhere along
the way. Startups use technology to offer
existing financial services at lower costs and
to offer new tech-driven solutions. Incumbent
financial firms look to acquire or work with
startups to drive innovation. Technology
companies provide payment tools. These Companies include CRED, BharatPe,
can all be seen as FinTech. ClearTax, JusPay, KhataBook.

FinTech disruptors started by offering Looking forward, FinTech disruptors are

products and services in payments and peer-
to-peer lending. Because of this, these have
been the most disrupted areas to date. We
can think of this as "FinTech 1.0", in which
new market entrants have mainly focused on
the business-to-consumer (B2C) space.
Q. What does a typical FinTech
company look like?
expected to continue to expand into other
areas within financial services. There's a lot
of interest in areas like marketplace lending,
credit underwriting, digital cash, treasury
functions, deposits, and bill payments. A lot
of activity in the robo-advisor and wealth
management space over a few years is also
anticipated.

When people think of FinTech, they often

focus on startups, breaking into areas that
banks and other legacy financial institutions
have dominated. Broadly, we can think about
all the players in a larger FinTech eco-system
as the As, Bs, Cs, and Ds:

“A”s are large, well-established financial

institutions such as Bank of America, Chase,
Wells Fargo, and Allstate. We sometimes
refer to these as "incumbents."

“B”s are big tech companies that are active
in the financial services space but not
exclusively so, such as Apple, Google,
Facebook, and Twitter.
“C”s are companies that provide
infrastructure or technology that facilitates
financial services transactions. This broad
group includes companies like MasterCard,
Fiserv, First Data, various financial market
utilities, and exchanges such as NASDAQ.
“D”s are disruptors: fast-moving companies,
often startups, focused on a particular
innovative technology or a specific process.
4. Digital Twins
A digital twin is a virtual model of a process,
product or service. This pairing of the virtual
and physical worlds allows analysis of data
and monitoring of systems to head off
problems before they even occur, prevent
downtime, develop new opportunities and
even plan for the future by using simulations.
Q. How does a digital twin work?
Think of a digital twin as a bridge between the
physical and digital world. First, smart
components that use sensors to gather data
about real-time status, working conditions, or
position are integrated with a physical item.

4
The components are connected to a cloud-
based system that receives and processes all
the data monitored by the sensors. This input
is analyzed against business and other
contextual data. Lessons are learned, and
opportunities are uncovered within the virtual
environment that can be applied to the
physical world — ultimately to transform the
business.
NASA was the first to dabble with pairing
technology — the precursor to today's digital
twin — as far back as the early days of space
exploration.
"The ultimate vision for the digital twin is to
create, test, and build our equipment in a
virtual environment. Only when we get it to
where it performs to our requirements, do we
physically manufacture it. We then want that
physical build to tie back to its digital twin
through sensors so that the digital twin
contains all the information that we could
have by inspecting the physical build."
For example, GE's "digital wind farm" opened
up new ways to improve productivity. GE
uses the digital environment to inform the
configuration of each wind turbine before
construction. Its goal is to generate 20%
gains in efficiency by analyzing the data from
each turbine fed to its virtual equivalent.
Q. Why is digital twin technology
important?
Digital twins are powerful masterminds to
drive innovation and performance. Imagine it
as your most talented product technicians
with the most advanced monitoring,
analytical, and predictive capabilities at their
fingertips.
How do you operate, maintain, or repair
systems when you aren't within physical
5
proximity to them? That was the challenge
NASA's research department had to face
when developing systems that would travel
beyond the ability to physically see or
monitor systems. And when disaster struck
Apollo 13, it was the innovation of mirrored
systems still on Earth that allowed engineers
and astronauts to determine how they could
rescue the mission. Today, NASA uses digital
twins to develop new recommendations,
roadmaps, and next-generation vehicles and
aircraft.
5. Industry 4.0
From the first industrial revolution
(mechanization through water and steam
power) to the mass production and assembly
lines using electricity in the second, the
fourth industrial revolution will take what was
started in the third with the adoption of
computers and automation and enhance it
with smart and autonomous systems fuelled
by data and machine learning.
When computers were introduced in Industry
3.0, it was disruptive thanks to the addition of
an entirely new technology. Now, and into the
future as Industry 4.0 unfolds, computers are
connected and communicate with one
another to ultimately make decisions without
human involvement (referred to as the
Internet of Things).
As a result of the support of smart machines
that keep getting smarter as they get access
to more data, our factories will become more
efficient and productive, and less wasteful.
Q. What are the applications of
Industry 4.0?
While many organizations might still be in
denial about how Industry 4.0 could impact
their business or struggle to find the talent or
knowledge to know how to best adapt it for
their unique use cases, several others are
implementing changes today and preparing
for future smart machines improve their
business.
➢ Identify opportunities: Since connected
machines collect a tremendous volume
of data that can inform maintenance,
performance, and other issues, as well as
analyze that data to identify patterns and
insights that would be impossible for a
human to do in a reasonable timeframe,
Industry 4.0 offers the opportunity for
manufacturers to optimize their
operations quickly and efficiently by
knowing what needs attention.
➢ Optimize logistics and supply chains:
A connected supply chain can adjust and
accommodate when new information is
presented. If a weather delay ties up a
shipment, a connected system can
proactively adjust to that reality and
modify manufacturing priorities.
➢ Robots: Once only possible for large
enterprises with equally large budgets,
robotics are now more affordable and
available to every size organization.
6
➢ Additive manufacturing (3D printing):
This technology has improved
tremendously in the last decade and has
progressed from primarily prototyping to
actual production.
➢ The Cloud: Through the use of the cloud
environment where data is stored,
equipment and operations can be
optimized by leveraging others' insights
using the same equipment or allowing
smaller enterprises access to the
technology they wouldn't be able to on
their own.
6. Quantum Computing
All computing systems rely on a fundamental
ability to store and manipulate information.
Current computers use individual bits, which
store data as binary 0 and 1 states. But there
are challenges that traditional systems will
never be able to solve. For problems above a
specific size and complexity, businesses
don't have enough computational power on
Earth to tackle them. Quantum computers
leverage quantum mechanical phenomena
to manipulate information. To do this, they
rely on quantum bits or qubits. Recent
applications include their usage in sensors.
Q. What are Qubits?
Qubits are the core component in quantum
computing. With superposition, we can
encode an exponential amount of information
that can scale a solution better than classical
computing. A qubit is a two-state (or two-
level) quantum-mechanical system, one of
the most straightforward quantum systems
displaying quantum mechanics' peculiarity.
A qubit is a two-level quantum system where
the two-base qubit states are usually written
as |0> and |1>. A qubit can be in state |0>,
|1> or (unlike a classical bit) in a linear
combination of both states. The name of this
phenomenon is superposition.
Q. What are the applications of
Quantum Computing?
➢ Pattern Matching: Volkswagen is
currently looking into how they can use
quantum computing to inform drivers of
traffic conditions 45 minutes in advance.
Matching traffic patterns and predicting a
system's behaviour as complex as
modern-day traffic is so far not possible
for today's computers, but this is going to
change with quantum computers.
➢ Medical Research: Pharmaceutical
firms take up to 10+ years and billions of
dollars to discover a new drug and
market it. Improving the front end of the
process with quantum computing can
dramatically cut costs and time to market,
repurpose pre-approved drugs more
efficiently for new applications.

➢ Cryptography: The ordinary computers

we use today make it infeasible to break
the encryption that uses exceptionally
large prime number factorization (300+
integers). With quantum computers, this
decryption could become trivial, leading
to much stronger protection of our digital
lives and assets. The downside is the
vulnerability of standard encryptions.
7. AR/VR
➢ Data Analytics: A field of study called AR/VR technology makes use of sensory
topological analysis where geometric devices to either virtually modify a user's
shapes behave in specific ways, environment or completely immerse them in
describes computations that are simply a simulated environment.
impossible with today's conventional
Virtual reality (VR) is an interactive,
computers due to the data set used. With
computer-generated depiction of a real or
quantum computing, this can be boiled
artificial world or activity. Mixed reality (MR)
down to relatively simple calculations.
is an interactive depiction or view of
Eg: NASA is looking at using quantum
combined real-world and computer-
computing to analyse the huge collected
generated elements. Augmented reality (AR)
data about the universe.

7
is a real-world view with additional,
computer-generated enhancements
Virtual reality (VR) example: A computer-
generated living room in which your
simulated self can move around and interact
with the virtual furniture and houseplants or
others' simulated selves like you. The tech
like Oculus Rift, HTV Vive, PS VR are the
ones which are catering to the consumer
market on the Virtual reality front. It is
expected that other players would enter this
space, bringing competition.
Augmented reality (AR) example: A real-
time view of your living room that you can
virtually enhance with different paint or
carpet colours or call up virtual "floating"
screens to read email or watch a game.
Mixed reality (MR) example: Another real-
time view in which virtual selves or objects
are also displayed -- but where the real and
artificial elements can interact (e.g., placing a
virtual pencil on an entire table).
Some major players and their products
include Facebook's Oculus, Microsoft's
HoloLens, and HTC Vive. Most major
technology companies are today offering AR
development kits for their platforms like
ARKit by Apple. The gaming industry has
been one of the major early adopters of
Virtual Reality gaming with support from both
Sony PS and Microsoft Xbox. Traditional
companies are also jumping on the
bandwagon by introducing new kinds of
experiences for marketing, customer
service, internal collaboration, and
operations.
The market is expected to grow from 12
billion USD in 2020 to 72.4 Billion USD by
2022,at a robust growth rate of 54% CAGR.
8
8. Gaming Industry
The global gaming market was valued at USD
151.55 billion in 2019 and is expected to
reach a value of USD 256.97 billion by 2025,
registering a CAGR of 9.17% over the
forecast period (2020 – 2025). The adoption
of Gaming Platforms, such as E-sports, drives
the market. eSports are witnessing
substantial market demand in the current
market scenario and are thus driving the
overall gaming industry across the globe.
Asia-Pacific is anticipated to hold the largest
market share in the gaming industry, where
countries such as China, Japan, and South
Korea show a high potential in market
growth. The Chinese enterprises are ready to
embrace the business opportunities brought
by global digitalization due to the rise in the
digital eco-system. Moreover, technologies
such as 5G are also driving the mobile-based
VR gaming market in the China region. Also,
South Korea is one of the prominent
countries known for its culture of online
gaming.
India's gaming industry's market value was
around 90 billion Indian rupees in the
financial year 2020. This was estimated to go
up to over 143 billion rupees by 2022. The
industry has been evolving rapidly in the
country, and analysts predict over 40
thousand new job opportunities by 2022.
Indian developers have seen an influx of
investments and this is expected to improve
further. Major monetization models include
In-app advertisement, in-game purchases,
Freemium, Incentive purchases, and
Subscriptions. On September 2, 2020, the
Indian government banned PUBG Mobile,
PUBG Mobile Lite along with more than 100
other Chinese apps, most made by Tencent
and Netease, asserting the apps were
"stealing and surreptitiously transmitting user
data in an unauthorized manner to servers
which have locations outside India".
9. Online Conferencing Platforms
Virtual conferring and meeting tools saw a
sudden rise in 2020 as most offices shut
down due to lockdowns worldwide.
Companies across the world rushed to digital
platforms to enable remote work for their
employees and maintain continuity of
business. The sudden adoption also
supported the growth by everyday
consumers who hopped on to these
platforms for meeting up with friends and
families. Online schooling was another major
driver. The global web conferencing market
size is projected to reach USD 10.46 billion
by the end of 2027.
Resultantly, the virtual conferring sector saw
existing players strive to scale up their
resources and maintain servers immediately.
Several new specialized players also
emerged which offered additional services
for specific applications. Google Meets,
Microsoft Teams and most importantly,
Zoom emerged as the largest players. Stocks
of all companies saw exponential growth and
volatility with every news around the
availability of vaccination.
10. Cybersecurity and Privacy
Amid the rapid growth and adoption of online
tools by mass consumers at such an
unexpected rate, cybersecurity and privacy
concerns have also taken a staple in
everyday debates. As more and more
consumers join the digital eco-system,
hackers also target juvenile inexperienced
users to exploit their systems. Privacy has
become another hot topic of debate as
governments and private bodies across the
world debate over the exceptional power that
a few companies like Facebook and Google
hold over consumer data. A new heated
debate also started when Whatsapp updated
its policies around data sharing and privacy.
An online movement started worldwide
requesting users to stop using Whatsapp and
move to other platforms, Signal being of the
most prominent choice. Overall, few latest
technologies have been mentioned but as we
saw in covid pandemic, online platforms
suddenly got boost, similarly Business
technology field is always evolving and we'll
always have to keep an eye about the future.