The most significant reform has been the financial inclusion reform. The bottom of the pyramid is moving up the ladder and will transform the country's financial sector’, said Mr. K Rajaraman, head of the top regulatory body.
Delivering the keynote address at MICA’s 10th International Communication Management Conference (ICMC) on the theme ‘Immersive Technology and Experiences’, Mr. K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA) said, “In the last 10 years, there have been a phenomenal number of reforms. In the next 10 years, we will continue to be one of the fastest-growing economies in the world. The financial sector reforms have been multiple. There have been profound structural reforms like GST, tax reforms, the insolvency and bankruptcy code, the recapitalization of public banks, and tightening the provisioning norms, ensuring this discipline in the financial ecosystem. Amongst all these, the financial inclusion reform has been the most significant reform. The bottom of the pyramid is moving up the ladder and will transform the country's financial sector.”
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“India in 2047 is a very appealing prospect, but a lot of transformation and reforms have to happen. Technology will drive 2047”, he added.
The first day of the conference emphasized the imperative for collaborative efforts in the face of emerging technologies. Dr. P D Vaghela, IAS (retd.), former Chairman of TRAI, highlighted the need for cross-sector collaboration to co-create, share infrastructure, and safeguard citizens from fraud and spam. The day featured a panel on "Immersive Technology and Experiences," addressing
themes like remote collaboration, automation, privacy, ethical considerations, storytelling, and the infrastructure costs of immersive technology. The second day featured parallel sessions of paper presentations, covering diverse topics on immersive technology.
The third day was insightful and engaging with panel discussions with industry experts on career development strategies in a dynamic job landscape, focusing on skills, proficiency monetization, and teaching, alongside discussions on the business opportunities and challenges of immersive technology.
A panel discussion titled ‘Immersive technology-led content for New Age Consumer Engagement: Business Opportunities & Challenges’ revolved around the pivotal role of data in content creation and the evolving patterns of consumer engagement. Emphasizing technology's role in enabling storytelling, experts shared valuable insights on the evolving media consumption patterns, driven by data and consumer participation in content creation. The discussion touched on challenges such as ethical considerations in data governance, the need for global regulatory systems, and the emerging role of data as the new currency.
Startups in the Immersive Technologies Space pitched themselves during ICMC 2024: The last day of the conference witnessed a start-up event, in collaboration with e-Chai, a global startup network. Ten startups in the Immersive Technologies Space (AR/VR/XR, Metaverse, Web 3.0), presented their innovative solutions spanning various industries, offering diverse solutions in gaming, AR for industrial enterprises, film pre-production planning, branding automation, no-code AI computer vision, community-driven cycling promotion, no-code web app development, automated lead generation, modernized housie games, and AI-powered e-commerce search. It included presentations from startups like Zatun Games, Plutomen, Immersfly, Brands.live, Tusker AI, Crooze App, ZenDevX, FirstSales.io, HousieMate by Yudiz Solutions and Wizzy.AI.
Prof. UT Rao, Co-Chair of MICAVERSE at MICA, said, “The idea was to engage and showcase innovative startups in the immersive technology space, which is primarily the domain of MICAVerse lab at MICA. It was a great exposure for these startups and for us to network with the emerging startups.”
The 3-day conference included academic deliberations, paper presentations, speaker sessions, cultural events, panels of discussion, workshops, career fair, etc. ended with the valedictory ceremony having Mr. K Rajaraman, Chairperson, IFSCA, Mr. Rajendra Srivastava, Executive Director, ISB Centre for Business Innovation, ISB Hyderabad and Mr. Bharat Khatri, Chief Digital Officer, APAC, Omnicom Media Group as keynote speakers.
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