IMC Grand Innovation Challenge
The IMC Grand Innovation Challenge in association with AGNIi, Invest India, StartupIndia, and supported by NALCO ETBI, Bharti Airtel, Vodafone Idea Ltd. and Reliance Jio, is an initiative to foster innovation, entrepreneurship and skill development in the telecom sector. The aim is to identify unique solutions and encourage development of innovative products and solutions that can improve connectivity, enhance user experience and facilitate digital transformation.
2019 problem statements
Almost every decade we see a significant mobile network transformation happening around us. With 5G becoming a reality we move towards greater speeds, lower latencies and ability to connect a lot more devices and here lies the IoT opportunity. With an estimated 35 billion connected devices, the IoT market possesses a huge potential in the sector. Dead zones in rural areas and challenges in metro areas with heavy user density are still not uncommon, and both serve as barriers to IoT growth. Therefore, newer business models, platforms, protocols and technologies need to develop to support the densification of IoT.
Telco’s are increasingly virtualizing and cloudifying their networks and automating their operations, and open networking solutions play a key role in those transformations. As technologies have reached technological and operation maturity there is an urgent need for open solutions around network modernization, managed services, customer experience, and security & compliance.
Digital Technologies are transforming almost every sector. Within the agriculture sector itself, the use digital technology like remote sensing, crop & soil monitoring, smart warehousing & cold storage, smart farm to fork supply has largely impacted the “tech-farmers” to increase productivity, reduce costs and improve the overall quality of the yield. But there is a huge potential to develop solutions which can help us control the entire yield cycle from the input to the output stage.
An increasingly complex web of data protection, privacy and cybersecurity laws, self-regulatory frameworks, best practices, and business contracts govern the processing and safeguarding of information around the world, as well as the protection of critical industrial infrastructure. Data is increasingly becoming an asset as well as a risk. With a need for rapid innovation around redefining regulatory & legal frameworks, privacy, and cyber laws lies a huge opportunity for developing solutions across sectors including telecom, banking, healthcare and much more.
As technology continues to evolve rapidly and permeate more layers of business operations, digital solutions have become an integral component of the growth roadmaps for most established enterprises. DT will enable established enterprises like telco’s to develop strong integrated networks, enable cloud migrations, create digital workplaces & customer first models and explore industry specific solutions for an omnichannel experience resulting in newer revenue streams. With so much happening the scope for innovation is manifold.
In today’s digital world success depends on providing great customer experience and coping with the everchanging customer demands. The key enablers for DICE are personalization, data privacy, omnichannel platform services, predictive analytics, simpler transactions and focusing on digital as a service. This opens a whole new opportunity for developing innovative solutions that would directly impact revenue streams, give rise to different business model and overall enhance the customer grade experience.
Technology-driven learning apps are using gaming elements such as point-scoring and interaction with other players, personalisation, and data-driven insights to help make the learning process continuous, interactive, and effective. Immersive Tech like AR & VR bundled with AI, will give rise to new kind of personalized and experiential aspect to education by making learning enjoyable yet informative. With so many technologies holding the potential to transform the sector transformative educational experience is the key and new innovative ways must be identified to develop the same.
AI, blockchain and other technologies and platforms hold the potential to transform health care to the benefit of patients, payers and providers. However, this requires a deep understanding of the technologies as well as the health care ecosystem. This gives rise to increasing scope for applications and devices to be built for health monitoring, health data management, preventive health care and a variety of newer services which will help improve the overall health of individuals and redefine industries.
Blockchain has already disrupted some of the biggest industries in the world like Finance, banking and supply chain management. Blockchains offers radically new ways of conducting businesses for both customers and enterprises. Telco’s today having to compete in a highly competitive market and at the same time reduce costs. Blockchain solutions can serve as an excellent solution for optimizing and automating internal telecom operations, revolutionizing through smart contracts, help to develop newer digital services, data management & authentication services, managing digital wallets. SMEs and Start-ups are the real key for developing such solutions at the right time for the right market.
More data is being created in more locations than ever before. Today, large streams of data need to flow between the cloud and the user to serve to the new age autonomous world of smart cities, self-driving cars and smart factories. This demands real-time data processing, reduced latency, more security, reduced cost, data privacy and a robust data network, edge computing emerges as a stop solution for all. Edge computing will open a whole new world for creating innovative cloud platforms and data-driven applications.