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Evolving digitalization creating new business models

Dheeraj Mehra, CEO, Micronet

Digitalization, while being disruptive in nature, has enabled many businesses. The traditional business models are melting and new models are being evolved. We need to understand customer needs and put a solution in place for enhanced user experience, only then we can retain them.  

The current digitalization of services has made it extremely difficult to push for a standalone product. Customers shy away from the ownership of the data and want models of pay-per-use for many services. However, such services in imagery sector are difficult to provide at the consumer level owing to high cost of data acquisition. We need to provide complete solutions which fulfill a particular application of the user / customer and not just pixels of information.  

AI and ML powering geospatial 

Geospatial technologies provide a visual platform to see the impact scenarios of various decisions to-be-made by the governments and industries. It enables them to make informed decisions to their problems in order to serve public or customers. However, government sector is plagued with inordinate delays in access to the technology and inherent resistance by staff which creates a huge challenge in dissemination of this technology. If the government sector can absorb such technologies, it shall benefit the same people who oppose such technology implementations in the first place.  

Artificial Intelligence and Machine learning are certainly game changers. Many technocrats and innovators are focusing on these technologies to help solve practical problems of the industry .This will enable the industry and the end users access to the technology at cheaper costs and without investing in huge manpower costs and timelines to build the geospatial datasets for analysis.  

Also Read: Data for better future