India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities. According to the study, which surveyed more than 4,000 respondents in 18 cities, 79% stated that India was prioritizing technology like Artificial Intelligence, the Internet of Things, and Blockchain to deliver a future-ready world. Approximately 83% believed technology they’d seen in science fiction movies is either already a part of their daily lives, or likely to be in the next few years.
With the trend of technology-led change likely to continue, specific industries were identified as major drivers in shaping the cities of the future, with healthcare (35%), infrastructure and logistics (21%), and banking and finance (18%) believed to be leading the change.
Mohamad Sayegh, Vice President, India Operations for FedEx Express, said, “At FedEx we have a legacy of innovation spanning several decades, and we constantly innovate to create solutions for the world in responsible and resourceful ways.
With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business. Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future.”
The ‘Future is Now’ study focused on three main views: beingdynamic, how India is open toexperimentation and innovation, and to what degree the country is sustainability conscious. The findings indicated that future success will likely rely on businesses structuring their approach around these three outlooks.
The future is dynamic
Regardless of industry, companies must monitor the pulse of their consumers, anticipate their needs, and stay one step ahead of their rapidly evolving expectations. The pandemic accelerated change in almost every aspect of life, from how we live and work, to how businesses interact with their customers, and how customers purchase products and services.
The FedEx study shows that businesses are already working to keep pace with this change, with about 87% respondents stating that over the past year, companiesdemonstrated their ability to understand ‘What’s next?’ and present possible solutions.
An openness to experimentation is indispensable to a future-ready mindset
In an increasingly dynamic environment, success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation. A majority of 91% of those polled in the FedEx survey, believe that organizations, communities, or even individuals who experiment and adopt change are better equipped to navigate through future challenges.
A sustainable mindset isn’t a choice, but rather, a business imperative for success
The response from the study participants is clear: organizations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long term.
As the world keeps evolving, technology and trends will likely drive changes in lifestyle, behaviors and attitude. For both businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.
FedEx ‘Future is Now’ study* Methodology
The above findings are based on research fieldwork conducted by Innovative Research Services (India) Pvt. Ltd., Mumbai, through face-to-face and telephonic interviews with 4,210 respondents in 18 Tier 1 and Tier 2 cities. Out of these 18 cities, nine are Tier 1 cities which include Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, Pune, and Secunderabad, while the other nine are Tier 2 cities which include Coimbatore, Dehradun, Gurgaon, Jaipur, Kochi, Lucknow, Surat, Udaipur, and Varanasi. Respondents included a representative sample of people from the above cities aged between 18-60 years.