‘Finding a solution requires building an ecosystem’ – 30 quotes of the week on digital 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 focus on the increasing impact of digital media in India and around the world (see the previous post here). Share these 30 gems and insights with your colleagues and networks, and check back to the original articles for more insights.

The one key area where AI technology will impact the most is in disrupting entire industries and creating new business models. - Ashwin Mittal, Course5

Listening is key. If you listen to a large group of people, get their thoughts and views on a particular problem, you come up with what will be the right decision eventually. - Sudha K Varadarajan, Skava

Every app wants sticky users, and businesses are focusing on push-driven marketing by sending distracting notifications to their users, which don’t work, and most of the users tend to dismiss or stop the notifications entirely. - Prateek Gupta, CustomerGlu

Having a diversified group of influencers on multiple platforms with an intelligent content distribution strategy is inarguably the right approach since it increases your engagement manifold. - Udit Verma, Trackier

Live streaming allows shoppers to come closer to products and listen to someone describe what a product feels and looks like. - Nishit Gupta, Kalki Fashion

Businesses have realised that to scale globally and stay ahead of the curve, they have to invest in video tech. - Vikash Samota, MultiTV

Businesses have employed chatbots to carry out customer interactions in terms of resolving queries, taking orders/sending a message and making a connection happen with a company rep. - Simrita Dhillon, SANDA

A typical enterprise deploys over 300 cloud applications and may have more than 900 overall. At the same time, a typical enterprise employee is exposed to over 15 applications. - Khadim Bhatti, Whatfix

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Current HR systems were designed to address issues from a previous era, and they have failed to keep pace with the changing nature of work and the workforce. - Ashutosh Garg, Eightfold

Jobtech will pick up as businesses become more tech-enabled. - Will Poole, Unitus Ventures

The [femtech] sector not only brings a change in the societal mindset but also brings revenue. - Sujata Pawar, Avni

Everyone says you need to save and invest money. But women generally do not end up making their own decisions when it comes to investment. - Shagun Bansali Mehta, Miss Piggy Banks

A fully equipped and developed digital lending software can offer myriad benefits to accelerate digital lending, allowing banks to disburse loans faster. - Praveen Paulose, Celusion Technologies

Most traditional advertising agencies have been overcharging clients for the longest time and are difficult to work with. - Ayush Wadhwa, Owled Media

Art is very visual. Slowly, with digital trust and online visualisation techniques improving, people have started to rely on virtual medium for viewing and appreciating art. - Avik Bandyopadhyay, MayinArt

Technology is the flame of need. One should use technology to create more human connect. - Satyajeet Limaye, Bankit

A new hybrid model needs to be created so that technology can inform crafts and crafts can inform the industry. Craft is the way that we can retain humanity in our evolving technological world. - Preethi Gopinath, Parsons, The New School

Something like sports may not transfer online but other extracurricular areas that are more cognitive are very effective through online medium. - Anushree Goenka, Spark Studio

There was a high degree of cut-throat competition, and as a result, from a very young age, children have been choosing or have been guided to pursue academics over everything else. - Kapish Saraf, KidEx

There is a huge demand for mentoring among the youth. - Ashish Khare, MentorKart

Creating meaningful professional bonds and getting to know people personally is the only way to create a long-term successful career. - Ankit Singh, SupremeMinds

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Grocery is one of the largest components of an individual’s consumption basket in India. - Pratik Pal, Tata Digital

The fashion segment is one of the biggest contributors to the ecommerce industry of India with the highest order volume. - Kapil Makhija, Unicommerce

Currently, India has one D2C unicorn startup, while there are 20 such startups in the world right now. - Dhianu Das, Fluid Ventures

Student experience for college admissions both for India and international and allied services is broken and underserved. - Dheeraj Bhatia, Kips Learning Solutions

Value is an abiding Indian trait and will always find a large audience both offline and now increasingly online. - Ankur Pahwa, EY

Even though a large number of Indians have a bank account, they need help moving up the ladder of financial access. - Anuj Kacker, FREO

In India, our approach towards crypto is different. We don’t see it as a legal tender but as an asset class. - Shivam Thakral, BuyUcoin

It is very rare to find teams that create a perfect storm of domain expertise, functional expertise in different areas of building SaaS companies, and at the same time, bring the perfect complementarity between founders. - Alok Goyal, Stellaris Venture Partners

Most competent growth hackers have a good understanding of data, design, copy, landing pages, and media buying. - Vaibhav Sisinty, Sisinty.com

It doesn’t matter how smart you are, how intelligent you are. You need to have the right platform. - V Vaidyanathan, IDFC First Bank

There is a fine line between building a product and a solution. While you can optimise the product, finding a solution requires building an ecosystem. - Gaurav Srivastava, FarEye

YourStory 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).