As I pen this editorial, I am filled with immense gratitude and a sense of pride. The Annual General Meeting (AGM) and the awards function held this year were truly exceptional. It would not have been possible without each and every one of you who graced the occasion with your presence and unwavering support. Your participation and valuable contributions throughout the year have been the driving force. Your dedication to our shared objectives has added tremendous value to the growth and achievements of our organization. The highlight of the event was the enlightening address by our esteemed Chief Guest, Mr. Shenu Agarwal. He shared invaluable insights on achieving Managerial Excellence, and his words resonated deeply with all present. His thought-provoking and inspiring ideas have left a lasting impression on our minds, urging us to excel in our managerial roles.
Equally captivating was Mr. Shrinivas Dempo’s address, where he delved into the theme of changing leadership in changing times. The wisdom he imparted has been greatly appreciated by our esteemed members, leaving us all with a fresh perspective on effective leadership amidst dynamic environments.
In this edition, we take immense pleasure in presenting an article that captures the essence of the Chief Guest’s address, accompanied by an embedded video. We believe this content will not only be a valuable resource for you but will also serve as a source of inspiration for your professional journey. Click to view the video.
Moreover, we are delighted to share the video presentation showcased during the AGM, spotlighting the activities and achievements of MMA during the year 2022-23. Witnessing the progress and growth of our organization is a testament to the collective efforts of our members and well-wishers. Click to view the video highlights.
It is my sincere gratitude that I extend a big thank you to all of you for your continued support to MMA and its activities. Your unwavering commitment and involvement have paved the way for our achievements, and we look forward to scaling even greater heights with your support in the coming years. As we move forward together, let us strive for excellence and continue to be the driving force behind positive change and growth.
Change of Guard
The new managing committee was announced during the MMA AGM held on 7th July 2023, and it’s a privilege to work with a team of highly accomplished leaders. We will take forward our vision, guided and supported by the new Managing Committee headed by President Mr. Mahalingam, Partner/Director of TSM Group of Companies. The Managing Committee, consisting of experienced professionals and new entrants with a vast corporate background, would immensely contribute to taking MMA to greater heights. I will be failing in my duty if I do not place on record the great support extended by Mr. Suresh Raman, Vice President & Regional Head, TCS Chennai, who was our President during 2022-23. He has been a great source of inspiration and support towards achieving our objective. Personally, it has been a unique privilege to be a part of his team. I thank him for his unstinting support in all our endeavours.
With this change of guard, we embark on a new chapter filled with promise and determination. Together, with the support of our esteemed members and well-wishers, we are committed to achieving our objectives and surpassing all expectations.
AI: Challenges & Opportunities
The opportunities presented by Generative AI outweigh the challenges for India. It can be profitably deployed in numerous ways, and we have a great opportunity to lead its development for responsible value generation. While fears of artificial intelligence (AI) eliminating jobs are pervasive, we have reasons to be particularly optimistic. Indian engineers working in the Information Technology sector may be affected by AI deployment from multinationals, potentially reducing the volume of work. However, to brighten our prospects, it needs to be embraced responsibly. Generative AI has a variety of applications, such as boosting sales or enhancing customer engagements, which, if utilized effectively, can open up exciting new growth avenues for India.
India is a global leader in technology services and entrepreneurship. Embracing Gen AI adaptation is often a pathway to strengthen its position and create new opportunities.
In this context, MMA organized a conclave on the theme “Generative AI: The Future Is Here.” Several interesting sessions were held, with thought-provoking views shared by the speakers on various opportunities and issues connected with the adoption of Generative AI. I am delighted to present in this issue an interesting article on “Understanding the Generative AI Landscape,” held during the conclave, for your reading. You can also watch the video recording of the conclave. Click to view…
Back to the Moon!
The countdown for Chandrayaan-3 to make a soft landing on the moon has begun, and the lunar touchdown is expected on 23 or 24 Aug 2023, when a lander is scheduled to descend and roll out a rover. If successful, India will become only the fourth country to reach the moon and the first to physically explore an inhospitable part of it. The pioneering spirit displayed by our space scientists is truly fascinating. We wish them success and fervently hope that we will soon expand the frontiers of what humankind knows about this mysterious object in the sky that has fascinated us throughout the ages.
Internationalizing the Rupee
The Government of India is making systematic efforts to internationalize the Indian Rupee with the hope that it will become a hard currency within the next decade. The objective is for the Indian Rupee to be included in the IMF’s SDR (Special Drawing Rights) basket and be recognized by other countries as part of their foreign exchange reserves. This, in turn, would lower India’s financial costs.
The way forward is to encourage Indian residents and foreign parties involved in international trade transactions to use the Indian currency for settling payments. The more such transactions are conducted in Rupees, the greater the international acceptance of the Indian currency for trade settlements. However, it is important to recognize that achieving widespread appeal for the Indian currency abroad will depend on its usability and acceptance in various global transactions. We have a long way to go, but this strategic endeavour holds promising potential for India’s economic standing on the global stage.
As we progress towards this ambitious goal, it is essential to maintain a steady and focused approach, fostering confidence in the stability and strength of the Indian Rupee. By gaining trust and recognition internationally, the Rupee can solidify its position as a formidable global currency, enhancing India’s economic influence and standing in the world.
The recent Wimbledon match between Novak Djokovic and Carlos Alcaraz for the men’s championship was a riveting display of see-saw fortunes. The drama reached its peak when Djokovic’s racquet smashed against a net-post in the final set, leading to a memorable victory for the almost 16-year-old Alcaraz, who showcased immense talent and skill. Despite the intense competition, the former champion Djokovic exemplified grace and humour in his post-match presentation, setting an inspiring example of sportsmanship.
In contrast, the world of cricket has witnessed unedifying spectacles of sneaky run-outs, leading to heated brouhahas with nationalistic overtones. Recent incidents, such as those between England and Australia, and the Indian women’s cricket match with Bangladesh, highlighted how the principles of fair play and sportsmanship can sometimes be overshadowed by a win-at-all-cost mentality.
Wimbledon continues to stand out for its spirit of true sportsmanship, where competitors value the spirit of the game above all else. As we reflect on these sporting events, it is our hope that leaders in our corporate world and young managers will take inspiration from the high quality of sportsmanship displayed by Novak Djokovic and Carlos Alcaraz. Emulating such values in our professional lives can lead to a more harmonious and respectful work environment, where competition is healthy, and the spirit of fair play prevails.
Let us all strive to embody the principles of sportsmanship in our endeavours, remembering that true greatness lies not only in victory but also in how we conduct ourselves on and off the field of play.
Top Ten Emerging Technologies in 2023
The World Economic Forum (WEF) recently released its Annual Report on the top ten emerging technologies of 2023, aimed at professionals across various sectors discussing industry-shaping applications for society. The report’s goal is to assist business leaders and policymakers in harnessing the transformative potential of these emerging technologies and promoting their widespread adoption.
The list of top ten technologies identified by the WEF includes flexible batteries, Generative Artificial Intelligence, Sustainable Aviation Fuel, Designer Phages, Metaverse for mental health, wearable plant sensors, spatial omics, flexible neural electronics, sustainable computing, and AI-facilitated healthcare. Embracing these technologies and leveraging their benefits should be our collective endeavour for the betterment of everyone.
In line with our commitment to knowledge sharing and innovation, MMA will organize informative sessions on each of these technologies throughout the year. These sessions will offer valuable insights and practical applications, ensuring that our members and stakeholders stay at the forefront of technological advancements.
In this issue, I am delighted to present to you engaging articles on How to Make India Water Resilient, Women and Sustainability, Real Estate – AGILE, and much more. We encourage you to explore these pieces, watch the accompanying videos, and be inspired by the endless possibilities that lie ahead.
As we move forward, let us embrace these emerging technologies with enthusiasm and vision, driving positive change and creating a better future for all.
We urge you to constantly send in your feedback—positive ones as well as criticisms, both equally are important inputs in enabling us to get better at what we do.
As always, we would be happy to hear your views, comments and suggestions.
Thank you for your continued support and readership.