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The ransomware attack on Colonial Pipeline in the U.S. has underlined the importance of cyber security in critical infrastructure. India has not escaped the brunt of a recent global surge in cyber attacks. Though New Delhi has taken steps to protect critical infrastructure, problems in information sharing of threat vulnerabilities impede an effective response.
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The future is likely to see ‘Big FinTech’ replace ‘Big Tech’. But this time around, India can be part of the story from the ground up. India has been ahead of the fintech game on the technology, regulatory and consumer fronts.
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Digital Manufacturing in India can bring in a new age globalisation of manufacturing, and developing resilient, transparent and trusted supply chains. With the help of MNCs, start-ups and government in accelerating digital adoption, and India must become part of the emerging global trading system, using the COVID-19 pandemic to accelerate digitisation.
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Individuals now generate copious amounts of personal data everyday – both online and offline. Devices and infrastructure extract data, which can be shared instantly across borders with diverse entities - without consent. It is imperative that countries come together to create regulations to protect individuals who are unable to control how their data is shared and processed. A model already exists in the Paris Climate Agreement.
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With an increasing human and robotic footprint in the solar system, there is a need to develop robust regulatory mechanisms to prevent the “forward” and “backward” biochemical contamination of these unexplored celestial bodies.
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Big Tech wields considerable influence over commerce, speech, media, and politics. Mergers and acquisitions have been key to their burgeoning growth. Now it is clear that their power is buttressed by anti-competitive and predatory practices. Governments across the world are moving to redress this through regulation, but the task is complex.
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The depth and complexity of India’s digital citizenry and ecosystem puts it in a unique position to impact global rules on digital governance. An opportunity to assert its influence is coming up with India’s presidency of the G20 in 2022. Work on this agenda must begin now.
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Facial recognition technology has emerged as an important identification tool. Big tech, social media companies and governments around the world use it and hold an unprecedented power over individuals and communities. Its use for surveillance purposes has brought it under public scrutiny. The technology has still not been perfected. Is it really ready for adoption?
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The world is experiencing two simultaneous transformations: a decoupling from China and the building of an alternate supply chain, and the creation of new, cutting-edge industrial process called digital manufacturing. It is part of the larger wave of Industry 4.0, an integration of industrial processes with the Internet of Things. India already has some of the key elements in place, and some successes to build on.
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After the strategic digital pushback against Chinese investments and apps, India should turn its attention to the biggest Chinese domination tool – 5G. This is the mother lode that enables the efficient gathering of data, which when mined, results in product enhancement and pricing benefits to products listed in China 2025 and helps China set global standards. There is an urgency for alternate suppliers of 5G equipment and other technologies to avoid relying on China.