Digital Transformation Needed For Faster Economic Growth Of Odisha, Say Speakers At SOA University Seminar

Bhubaneswar: As Odisha aims to become a 500-billion dollar economy by 2036, it is imperative to embrace digital transformation in different sectors to drive efficiency and growth, speakers at a national seminar in SOA Deemed to be University in Bhubaneswar.

“To achieve this goal, the state needs to grow in all sectors of the economy for which digital transformation was required to make business sustainable,” said Prabodh Mohanty, president of the Utkal Chamber of Commerce and Industry Ltd (UCCIL) at the inauguration of the seminar on “Navigating the future of Sustainable Business Development through Digital Transformation’ on Wednesday.

It was organised by the Institute of Business and Computer Studies (IBCS), faculty of management sciences of Siksha ‘O’ Anusandhan Deemed to be University (SOA).

Stating that the mining and metal sector was the driving force of Odisha’s economy, he said the state government had introduced digital transformation in the mining sector as it could propel efficiency and growth. Artificial Intelligence (AI) and Block Chain were influencing digital transformation which was playing a crucial role in shaping the future, he added.

Namrata Misra, Chief Executive Officer of Bhubaneswar City Knowledge Innovation Cluster (BCKIC), Bhubaneswar said the time was ripe for India’s digital transformation and the need was to focus on innovation and sustainable development. “The research scenario in the country is very different now it is witnessing a paradigm shift in career options. Students, who are the agents of change, are keen on entrepreneurship,” she said.

While other countries were looking at India where digital transformation was taking place, Odisha was quietly carving a niche for itself as home grown start-ups were working on devices like AI and Machine Learning, she added.

Ashwini Kumar Rath, Founder and Chief Executive Officer of BATOI, Bhubaneswar said though there was concern about AI accentuating the problem of unemployment, it was also certain that it would create new jobs in greater number. “A few years from now AI will catch up with human intelligence,” he said adding instead of focusing on syllabus, a student must learn what needs to be learnt.

Prof Anup Kumar Samantaray, Dean of IBCS, in his keynote address said the twin challenges of sustainability and digital transformation were forcing a rethink in business models and supply chains. It had presented business leaders a unique opportunity to shape the future of business and create a more sustainable and equitable world. “We need a fundamental shift in how we think, work and interact with each other and with our customers,” he said.

Prof Jyoti Ranjan Das, Dean (Students’ Welfare), SOA, said digital transformation meant the integration of digital technology into all areas of business focusing mostly on how people operate and deliver value to the customers. “Digital transformation is not a new strategy but it has been renewed by several key technologies which have come into maturity more recently,” he said.

Prof Duryodhan Jena, Academic Head—MBA Program, IBCS and Dr Ashish Mohanty, Associate Professor, IBCS, also spoke. Prof Prasenjit Mohanty, Pro-Vice Chancellor, SOA, presided.