Parna Ghosh , Vice President & Group CIO, Uno Minda Industries Take On –
IoT and Blockchain adoption in Automobile Sector
IoT is going to disrupt the entire industry in terms of connectivity , productivity and quality. IoT is going to change the way automobile industry functions today. Indian automobile industry is mostly man power intensive. Going forward, it will be a combination of IoT & People which will make productivity and quality of global standards.
Though Blockchain technology in Auto sector has got huge potential but yet to be explored. Blockchain in automobile industry is going to bring in lot of disruption in processes whether it is procurement to pay, order to cash, payroll or HR process or may be financial process everywhere blockchain is going to impact and future ERPs may either sit on the top of the blockchain or blockchain may replace the ERP systems.
Blockchain will also be the connected system for the OEMs, Suppliers, Government, Insurance agencies, Banks / Financial institutions, Transporters and Regulators everybody will be on the same platform.
So going forward to 2025, these two technologies IoT and Blockchain are the two technologies that will disrupt the Auto industry.
Autonomous Connected Electric and Shared Mobility (ACES), has already done a lot of disruption in the entire industry. IoT and Blockchain is going to do a lot of complimenting on the additional transformation in these areas. Moreover, the major advantage will be quality and productivity on economy of scale.
The leap from CIO to CDO or to CEO
Today, CIOs are working as Business Leaders. For a decade now, CIOs have brought in lot of innovation in business function areas like Customer Relationship Management (CRM), Supplier Relationship Management (SRM), Dealer Management System etc. Now CIOs are talking about revenue channels, customer experience, bottom line improvements and this will give a leap to CIOs. Going forward, digital transformation is giving lot of advantage to CIOs as most of the organisations are now transforming CIO role to a CDO role. CDO roles are also getting evolved and CIOs are the right example of the right people who will get the opportunity to become a CDO for the future.
Overall, digital is not a technology rather it is a new channel for revenue, cost reduction , quality improvement and customer experience and the CIOs are the right people who understand the business functions , processes and also understand technologies. So this combination will be deadly in nature. Lot of CIOs should aspire to become CEOs also in future, to drive businesses and this will happen over the period of time.