Insights, integration, innovation – 20 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 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.

Internet must always remain open... openness means it is bereft from not just state and government influence but is also free from dominant big tech influence. - Rajeev Chandrasekhar, Minister of State for Electronics and IT

At present, social media platforms are open to negativity, which leads to the spread of hatred, harassment, and bullying. - Suresh Kumar, Pepul

To have a robust data-sharing ecosystem, industry imbalances needed to be addressed such as pursuing data licensing agreements, capacity building to derive useful insights from data, etc. - Sreenidhi Srinivasan, Ikigai Law

Without a document management system in place, this process of accessing and sharing of documents becomes inefficient and time-consuming. - Venkatesh Sundar, Indusface

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The world today has become fast, from fast food to fast disbursal of cash through ATMs. So why shouldn’t access to documents be fast? - K Bhaskhar, Canon India

One way fintech companies can help MSMEs is by leveraging technology and electronic data across the entire trade cycle to predict market outcomes for their clients. - Pushkar Mukewar, Drip Capital

A customer-first mindset sparks innovations. It is the guiding principle in creating successful fintech products at scale. - Manas Mishra, PayU India

Private equity is one of the best long-term investment options owing to its illiquidity. All the industry needs is a credible approach to discovering these assets' prices before buying or tokenising. - David Lighton, SendFriend

Unlike cryptocurrencies, NFTs aren’t interchangeable and are one of a kind. This means that each token is unique and represents a rare real-world asset that cannot be converted to, or from, another asset. - Vikram R Singh, Antier Solutions

In this world of digitisation, NFTs have opened a new realm of opportunities to engage with my fans even more than before. - Amitabh Bachchan

2021 is a year of mass digitisation across all levels of the power sector —from manufacturing to infrastructure to end-user devices. Popularly referred to as Energy 4.0, this phase will enable the industry to deploy smart energy management and power management solutions. - Gautam Mohanka, Gautam Solar

The coming years will see more residential authorities registering homeowners and tenants on facial recognition software for better management and security. - Varun Gupta, Kent RO Systems

If you have to transform education, you have to transform core learning at school. And the only way to do that at scale is with the use of technology and data. - Smita Deorah, Lead

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With technology backing the mentors today, your mentorship process will flow through smoothly and provide you with smartly recommended solutions that will be best for your future. - Piyush Gupta, Stride Ahead

Data-driven insights give digital-native brands an upper hand over traditional businesses, despite the latter's extensive domain knowledge. - Anand Venkatraman, Freshworks

One can now run all errands via hyperlocal ecommerce stores. - Lakshmi Prabhala, LMO

Today’s tech-savvy consumers are looking for intuitive systems that minimise their interaction downtimes and maximise their digital delight. - Kumar Srivastava, Hypersonix.ai

The skillset requirement for marketing today is not only high in number but is evolving even faster, with new-age technology playing a key role. - Meera Raman, Jidoka Technologies

Cohorting through pico-segmentation not only helps find the best fit but also reveals information about audience behaviours and pain points. - Neel Pandya, Pyxis One

This takes into account self-service solutions, capabilities of bots, and omnichannel presence, among other factors. We are now seeing brands looking at customer data to explore these areas and drive customer experience. - Vinod Chandramouli, Freshworks

The future of business communications is not just digital-first but also about empathy. - Harsha Solanki, Infobip

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).