National Technology Day 2023 Live Updates: Technology transforming industries

At FidyPay, we believe that technology is a powerful enabler of financial inclusion and economic growth. By leveraging the latest advancements in digital payments technology, we are able to create new opportunities for individuals, businesses, and entire economies to thrive. Our API empowers businesses to easily integrate digital payments into their existing systems, making transactions more secure, convenient, and efficient. By staying at the forefront of technological innovation, we are not only driving business growth, but also making a positive impact on society by providing access to financial services for those who have been historically underserved. We understand that staying relevant in the digital age means continually adapting to new technologies and user behaviors, which is why we remain committed to advancing our platform and offering our clients the most cutting-edge solutions. At FidyPay, we're not just a technology company, we're a partner in driving economic progress and financial empowerment for all.

As the world of finance continues to evolve, technology plays a pivotal role in helping us provide better services to our customers. At BankSathi, we are leveraging the latest technologies to offer innovative solutions that cater to the diverse financial needs of our clients. With the use of artificial intelligence, machine learning, and predictive analytics, we are able to provide personalized suggestions and create awareness for financial products in banking products. This not only simplifies the investment process for our customers but also helps them make informed decisions. Additionally, the use of advanced technology has allowed us to reach out to a wider audience, enabling us to cater to more customers all over. In a rapidly changing world, staying relevant and adapting to new technologies is imperative, and we are committed to continuously improving our services through the use of cutting-edge technology.

At SingleDebt, we understand the importance of technology in the world of debt management. Our in-house developed snowball effect calculator is a perfect example of how technology is helping us cater to our clients in a more efficient and effective way. By using various algorithms such as total outstanding, loan tenure, missed monthly payment numbers, and loan stage, we ensure that our clients' disposable income is distributed to their creditors in the most strategic way possible. Our snowball effect calculator helps us prioritize paying off loans based on these criteria, enabling us to clear outstanding debts from small to large amounts while keeping a close eye on the parameters that matter most. Through our technological advancements, we are able to offer our clients the best possible solutions for their debt management needs, ensuring they can achieve their financial goals and live a debt-free life.

The admirable tenacity and quest for knowledge displayed by young individuals in India is commendable. The current education system in the country, that is changing rapidly especially after the amendments in the National Education Policy (NEP 2020) is fostering the spirit of entrepreneurship by providing access to a diverse range of subjects that engage and inspire young minds. Also, with access to digital platforms and cutting-edge technology in schools, these young individuals are gaining a deeper understanding of business operations at an accelerated pace. Moreover, several television programs have emerged that cultivate entrepreneurial zeal, further contributing to a promising future for India's burgeoning youth entrepreneurs.

On the occasion of National Technology Day, I wanted to highlight how digital technologies have bridged the gap between people. Today, the rich, as well as the poor, are using the same WhatsApp, the same LinkedIn, and the same Facebook. Even the pricing for the SaaS platforms like Google Docs or Office365 is the same for all. This democratization of access to digital tools for everyone has bridged the gap between the rich and poor significantly. Long ago, it would have taken multiple generations for people to get rich. However, today, by leveraging digital tools, any person can get extremely rich in less than a decade. The majority of the top 100 richest people on earth are technologists and they all are first-generation entrepreneurs. With access to technology, anyone from any corner of the world can develop the next big thing

As we celebrate National Technology Day, let us take a moment to acknowledge the tireless efforts of the engineers, developers, and innovators who have made these advancements possible. Their work has changed the world and will continue to shape our future. Let us continue to harness the power of technology for the greater good and create a better tomorrow for ourselves and future generations.

In the last decade, education technology has metamorphosed significantly, impacting education consumption in many ways. To some extent, EdTech has expanded accessibility of education through digitally-enabled classrooms powered by the internet. With internet penetration in India expected to reach 45% by the end of 2025, the digitalization of education remains one of the government’s major priorities. Many e-learning portals have sprung up in response to the pandemic, and indeed beyond, creating newer pathways to a rising number of learners in online classes and courses.

Generative AI is going to dominate the imagination of humanity. Be prepared to be awestruck. For a machine to generate content, media, analysis or decisions like humans is as fascinating as watching a fully dependent infant grow into a fully independent mature human being. Deepfakes created a huge buzz around generative AI but that is just one element of what this technology can do for you. Several industries will experience disruption as the algorithms mature. AI will be able to produce unique songs, pieces of art, literature, videos, images, write software code, create marketing content, provide fashion tips, develop recipes, have humanized conversations, provide counseling and so much more. Students, Professionals, Governments, Decision Makers, Caregivers - the entire spectrum stands to benefit.

On National Technology Day, we celebrate the power of technology to enhance our lives and transform our experiences. Innovation can bring us closer to our passions, through developed technology. Technological advancements have revolutionized every sector, be it finance, education and consumer durable. The consumer electronic market is widely contributing to this innovative world and this quality-proven innovation makes our lives easier through wireless consumer durable electronic products. Let's continue to embrace technology to enhance our lifestyles and find prolonged joy in the things we love.

AI is redefining the way regulators enforce laws and businesses manage compliance obligations. AI-powered platforms can analyze regulatory data, identify non-compliances, and support regulators in being more proactive and efficient in law enforcement. This reduces the need for physical audits and inspections and helps businesses stay compliant in real-time, reducing manual intervention and costs. Adoption of such platforms needs to be encouraged for end-to-end digitalization of regulatory obligations.