‘Lending is an algorithmic business’– 30 quotes of the week on tech transformation

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week. This special series of quotes focuses on the increasing impact of digital media in India and around the world (see the previous post here). Share these 20 gems and insights with your colleagues and networks, and check back to the original articles for more insights.

Data and AI's true potential emerges from its ability to drive transformation across multiple sectors through a diverse range of applications. - Debjani Ghosh, Nasscom

As all interaction is now digital, the definition of collaboration among teams has moved to remote collaboration being the primary way of interacting with one another. - Puroitree Majumdar, YourDOST

With the ease with which all of us are embracing technology and the smart city projects currently underway, there is a demand for IoT enabled homes. - Vinay Bansal, Inflection Point Ventures

Don’t compete with market leaders on features; focus on creating a truly differentiated product offering. - Shiv Sundar, Esper

A generic product name gets eyeballs and is easy for first-time users to know what it solves. - Ajay Data, VideoMeet

Why can’t a catalog be virtually ready even before the product is up for selling? - Subhajit Mukherjee, Text Mercato

The digital age has made the term ‘prosumer’ all the more accommodating. Companies now look at them as brand advocates who can make or break their products and services, and rightly so. - Preeti Pandey, Media Moments

Digital lenders can verify data more efficiently through more verification routes. This will dive financial inclusion and accelerate disbursement to MSMEs. - Prashanth Ranganathan, PayU Finance

Technological advancements such as online exhibitions have certainly helped in connecting people, especially artists. - Ajnabh Kiev, 'Unbound'

We are seeing a surge in the need for real-time visibility in logistics for businesses to build customer-centric supply chains. - Kushal Nahata, FarEye

Telematics ensures that exhaustive data is captured, analysed, and correction happens throughout the truck's journey. - Vinod Aggarwal, VE Commercial Vehicles

Automation solutions are no longer accessible only to manufacturing giants. Even SMBs can deploy cobots strategically to become as competitive as possible. - Pradeep David, Universal Robots

In the current scenario, where the number of electric three- and two-wheelers are increasing exponentially, quality infrastructure has become the need of the hour. - Varun Goenka, E-ChargeUp

One common trend across the board has been people’s love for gaming. - Ankur Dewani, Sachiko Gaming

Most of the edtech players in the k-12 space are still focussed on curriculum (Maths and Science). - Amit Bansal, Wizklub

There is a lack of awareness regarding the availability of the e-textbook and paucity of devices with students and teachers. - NCERT

Recent times have highlighted the struggles of teachers while dealing with online tools that are not built for a teaching use case. - Mihir Gupta, Teachmint

Gamification and continuous personalised learning are very powerful tools and extremely useful for remote teaching. - Amit Arora, EduThrill

India is one of the biggest and fastest-growing digital markets in the world today. - Guruprasad Mohapatra, DPIIT

Our next set of unicorns would be from healthcare or telemedicine. A number of SaaS entrepreneurs are also building for Indian small businesses. - Rajan Anandan, TiE Delhi-NCR

There are real problems to be solved in India and technology can solve them. Venture investment is about solving these issues through startups. - Sudhir Sethi, Chiratae Ventures

Even today, over 500 million Indian language internet users are struggling with lifestyle inspiration and purchase decisions. - Prashant Sachan, Trell

Even when everything is going digital, one cannot eliminate the role of these intermediaries in some form or the other. - Tapan Singhel, Bajaj Allianz General Insurance

Over the past decades, companies have invested a lot of capital in hiring and training entry-level talent. - Ravish Agrawal, Able Jobs

Lifestyle diseases with their origin in poor nutrition are today’s biggest health concern. - Dhruv Bhushan, Habbit

With a plethora of platforms available, it is time now for women to get into the wealth creation game. - Siddhant Raizada, Kristal.AI

The biggest change will happen if you encourage girls to code earlier and say they are no different from the boys. - Natasha Jethanandani, Kaleidofin

As technology is getting more accessible and widespread, it is touching millions and millions of lives across different aspects of life. - Ratna Mehta, Wadhwani Catalyst Fund

Be nice to nerds. Chances are you’ll end up working for one. - Bill Gates, Microsoft

Analysing huge log files or handling logs using poor log monitoring tools can drastically reduce productivity. - Ajeesh Achuthan, Open

Lending is an algorithmic business. - Ashneer Grover, BharatPe

YourStory Media has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).