| |December 20208By Mani Mulki, CIO, Tata Capital LtdT he Digital Landscape in India is evolving rapidly. There are tectonic shifts in Consumer behavior fuelled by rapid advancements in technolo-gy like AI / Robotics / Voice, Text, Im-age recognition etc. With about 700 million internet users and 400 million smartphone users, India is one of the largest and fastest growing digital consumer markets. It's not only growing rap-idly, but also becoming pervasive across consumer segments. Until recently, India's digital consumers were mostly male population of metros and millen-nial. Now, 50 percent of them are from rural, 40 per-cent are women and nearly a one-third are above the age of 35 years.The Indian Consumers now treat information as an integral part of their shopping experience. 85 percent of the consumers check at least two data points before buying anything and nearly 50 per-cent conduct some sort of an online research. This is true even for a simple product like Yogurt which can come in many varieties like flavors, calorie content etc. The instances of transacting financial services online is growing rapidly. For example, the num-ber of people applying for a loan online has gone up from almost zero a few years back to 25 percent now. The technology architecture existing in financial institutions today allows them to process the appli-cations, assess the creditworthiness and disburse the loan in a matter of minutes. expert opinionDIGITAL TRANSFORMATIONMani is responsible for the complete Information Technology functions across all lines of businesses within Tata Capital.
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