| |November 20178By Kalpana Maniar, Chief Information Officer, Edelweiss Financial Servicesechnology is fast changing the way we live our daily lives. In the personal space we are already experiencing how the advancement in smart phone technology with the social media revolution has transformed the way we communicate.The convergence of social media, mobile computing, analytics and cloud is also transforming the way businesses operate. Digital technology enabled disruption has the potential to decimate established incumbents. We have seen iTunes take the music industry head on. New players like Airbnb, LiquidSpace and Trivago have disrupted hospitality and travel business. Amazon and Netflix have disrupted the media and entertainment industries. Uber and Zipcar have transformed transportation. WhatsApp and other over-the-top (OTT) services are now set to disrupt global telecommunications companies. New players in payments space and Peer to Peer (P2P) payments via Facebook or Blockchain will create new paradigm shifts. It has therefore, become imperative for companies to adopt digital strategy to take advantage of rapidly shifting and emerging business opportunities. The IT leaders today have a challenging task of finding opportunities in a technology landscape that is moving at a much greater pace than ever before. We are already seeing expectations on CIO roles changing from just an enabler to partnering with business so as to leverage technology for business transformation. Almost every business is a digital business because technology has become fundamental to every aspect of a business, and all senior leaders - not just CIOs ­ need to embrace and drive value from technology. What is needed is a deeper understanding of business to use technology for increasing revenues, enhancing business efficiency & productivity, effectively managing risk, enhancing customer experience and creating differentiation to enhance the brand. The mindset and language needs to encompass innovation and business transformation.Few technologies will impact business enterprises long-term plans, programs and initiatives. Some of the TExtending the Benefits ofBanking with ITEdelweiss is one of India's leading diversified financial services company providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss's products and services span multiple asset classes and diverse consumer segments across domestic and global geographiesIN MY OPINION
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