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IT refers to the use of technology, be it hardware or software, for data processing, business solutions & day-to-day functioning of companies.
Artificial Intelligence and Machine Learning will contribute US$ 1 trillion to Indian economy by 2035.*
Every industry depends on IT - banking, financial services, retail, media, pharma, automobile, manufacturing, telecom, hospitality etc. Technology & software solutions have become a part of all companies - Government bodies, startup firms and small & medium enterprises.
Newly emerging trends & technologies like cloud computing, mobile applications, social media & data analytics give rise to new opportunities in this sector.
- India's IT industry contributed around 7.7% to the country's GDP and is expected to contribute 10% to India's GDP by 2025.*
- IT jobs are well-paying and in demand around the world.
- IT Job roles are expected to grow as newer & advanced technologies come up.
- There are number of career options for different people - right from data entry operation to designing Powerpoint presentations to building mobile applications.
*Source: IBEF
Role of IT in industry
I.T. is used in the BFS industry for:
- Computerising Branch Networks
- Installing ATM Networks
- Systems (handling debit/credit cards)
- Enabling Internet Banking
- Office Automation (in case of insurance)
- Managing Customer Relationships
- Processing Mortgage Loans
I.T. is used in the HealthCare industry for:
- Processing Information
- Cataloguing Patient History & Records
- Hospital Management
- Managing Billing & Insurance
- Coordinating Inventory
- Managing Logistics
I.T. is used in the Airlines industry for:
- Enhancing Passenger Service
- Coordinating Airport Operations
- Keeping track of Airline Cargo & Logistics
- Managing Fuel (oil & gas) Logistics
- Coordinating Flight Operations
I.T. is used in the manufacturing industry for:
- Adhering to W.T.O. Norms
- Managing Suppliers, Sub-contractors and Distribution
- Enhancing Operational Efficiency
- Increasing Capital Productivity
- Reducing Fixed & Variable Costs
- Understanding Shrinking Product Life-cycles
- Mass Customisation of Products
