IT companies to reap benefits by focussing on emerging trends

KOCHI: The IT sector has been growing at a brisk pace with companies shifting their focus on to emerging technologies unlike conventional software development and its exports.IT officials said emerging and revolutionary technologies like Artificial Intelligence (AI), Internet of Things (IoT), blockchain are now the most soughtafter areas for

IT companies

in 2018. Cyber security is another driving factor of growth and more companies are coming up with innovations in the sector.

“The year 2018 has been remarkable for Kerala’s IT sector. The focus shift to technologies of future heralds a new era in the sector. More companies in Kerala are preparing for a radical change in the industry,” said Saji Gopinath, CEO, Kerala Startup Mission (KSUM).

Kochi is now a fast-developing IT hub as more firms in Infopark and Smart City are into emerging technologies. Many companies in Infopark have entered in blockchain, which is an underlying technology of cryptocurrencies that help people to make smart investments and trading decisions.

Similarly, IoT which creates a network of devices that can communicate with other devices thereby enabling them to process data and make decisions, is also gaining momentum as it is projected that there will be approximately 26 billion connected devices by 2020 worldwide.

“Like Thiruvananthapuram, Kochi has a major traction for companies working in blockchain and IoT. Both these cities are being developed into smart cities which need lots of products and services from IoT and blockchain, which means it opens lots of opportunities for IT companies. An ecosystem of electronic manufacture is being developed in Kochi region,” said Hrishikesh Nair, CEO of Technopark, Thiruvananthapuram,

Infopark, Kochi

and Cyberpark, Kozhikode.

The advent of Nissan Digital Hub in Technopark with focus on AI and autonomous vehicles is expected to bring a huge impact in the state’s IT sector. “As a spillover of its presence, there will be several other activities related to autonomous vehicles, which will be done by other IT companies here,” Nair said.

The IT startup sector is also flourishing and Kerala has become a top-performing state in State Startup Ranking 2018, compiled by the Department of Industrial Policy and Promotion.

“Maturity and quality of startup ecosystem has substantially improved in Kerala. The number of startups in the state has increased as the trend of young entrepreneur in the sector going out of Kerala has reversed now. The funding to startups also has improved, which motivates more youngsters to become entrepreneurs. The external support by corporates and public sector companies, in terms of guidance and financial aids through special grants to startups is another factor that accelerates the growth,” Gopinath added.