Mumbai: While data is expected to be at the centre of disruptions in businesses worldwide, there is a need to use this data responsibly, especially for a country like India that is increasingly becoming data-driven, Ginni Rometty, chairperson, president and chief executive officer of IBM said.
“All this wonderful data, it will be an opportunity of our life but it can also be the issue of our time. We all have to live by certain data principles; things like ownership, privacy, security, no government should access it inappropriately. I think especially in India, which is now becoming data-driven this is the time to put in these kinds of principles," Rometty said at IBM’s Think Forum held in Mumbai.
The remark comes at a time when data privacy is a key component of the legal challenge to Aadhaar, India’s biometrics-based unique identification project.
Rometty believes that in the end, it is neither the company nor the government but individuals or customers own their data.
She remains optimistic about India’s growth story because of good progress of some of the key government programmes, a talented work force and government’s push towards ease of doing business.
“The other thing which is very interesting right now in India is the speed with which business is moving now. My confidence has grown and we will continue to invest here," Rometty said.
Meanwhile, globally, she expects incumbent companies to become disruptors as they hold large chunk of data, which can be leveraged to their benefit.
“Some years back, everyone would talk about digital disruption and that the digital disruptors will be the winners. When you think of digital disruptors, everybody thinks of data but a very simple equation to remember is that 20% of the world’s data is searchable, that means 80% is not. The incumbent companies of the world have that 80%. So this is the idea that I believe that we are going to enter into an era where the incumbent companies will now become the disruptors," she said.
“We bet on the incumbent companies of the world and that data will be at the centre of how they transform themselves," Rometty added.
She said that companies can transform themselves and get smarter by leveraging a data platform that learns, then infuse that data and infuse it in your systems and processes, and use that data to empower the people in the company, man and machine, to learn.
“This not only helps individuals do a better job but you are able to bridge a gap on skills that exists in many parts of the world," she said.