Data monetisation is the next big challenge: Tech Mahindra's K Natarajan

The true value of all the data we generate and harness will be realised when it enhances customer experience and safety, Natarajan tells
How are data and technology disrupting the automobile market, one of your biggest constituencies?
 
The automotive industry is getting disrupted globally. With the advent of next generation technologies such as 5G, cloud and Artificial Intelligence (AI), the auto industry is set to undergo a huge change in the coming future. According to reports, the worldwide sales of connected vehicles will almost quadruple between 2015 and 2020. As a result, a new generation of vehicles needs to be designed. The Indian automotive sector is well poised for growth in that regard and is set to witness major changes in the form of electric vehicles (EVs), shared mobility, and better safety norms. This also provides an opportunity for the Indian IT industry to witness growth over the next few years in the Internet of Things space, especially in relation to the automobile industry. Look at the opportunities: There is a young population which is tech-savvy and expects its vehicles to deliver much more than just mobility. Telecom rates are affordable and the connected ecosystem is immense. The challenges lie in optimal pricing, overall affordability and offering value for money.

 
If we focus on the automobile market, what are the fundamental sources of data? And what are the best ways to use it?

 
The fundamental data sources are the vehicle, the consumer and then the dealer. While the vehicle data is relevant for ensuring greater reliability and availability, the consumer data and his/her interaction pattern help us in customer profiling for customised applications and enhances business opportunity. Dealership data is used to bring in greater efficiencies into the system and also deliver quality user experience.
 
We are leveraging nextgen technologies such as AI and machine learning to collect customer data through text, speech, and image recognition. Real-time emotion analysis of customers through the use of bots is adding to the levels of automation possible, beyond conventional and big data analytics. Thanks to machine learning and deep learning (particularly recurrent neural networks, natural language processing and natural language understanding), we are able to process data across the entire customer journey. These technologies are going to play a significant role in terms of enhancing customer experience and satisfaction. 

 
How will that data lead to better customer experience?
 
In a connected world, one needs to offer solutions that connect technology, businesses and consumers through innovative platforms. We are leveraging emerging technologies to exploit open opportunities, incubate disruptive business models, and deliver superior customer experiences. We are the only Indian system integrator to bring in physical design, digital customer experience and technology enablers under the same roof. The ultimate objective is to create value-driven experiences for customers with flagship innovations such as 5D imaging, intelligent electric vehicle charging system, social and mobile platforms for consumers, connected cars, microgrid-as-a-service, and more.

 
Data monetisation would be the next big challenge... Also who would be the target customer for that data?
 
Data monetisation is the next frontier in the digital transformation as it presents opportunities for organisations to generate new revenue streams. Organisations must incorporate a proactive approach. Globally, organisations are constantly looking at ways to monetise data by creating new products, services, new business lines, reducing cost and improving efficiency based on the insights generated from the huge volumes of customer data available.
 
There are five major entities that are an integral part of the connected automobile market — the vehicle, consumer and dealership have a mutual benefit. They share data and also benefit from the same through analytical measures made by the AI backend. The other beneficiaries are the third-party service providers and the government who utilise this data to offer products/services and policies. Data sharing and privacy norms are expected to govern the level of access to the data.

 
Twitter: @nitinaayog