A

PREOJECT REPORT ON

“EMERGING TECHNOLGY UESD IN IT INDUSTRY”

(Based on AICTE Model curriculum)

[KMBN252]

Submitted
TO
Mr. Dinesh Kumar Singh Sir
(Head of the Department)

In partial fulfilment of the degree

Of
MASTER OF BUSSINESS ADMINISTRATION

Submitted
By

GAMAN PRATAP SINGH

ROLL NO: 2301090700012
(MBA 1ST Year (2st SEMESTER)

Aligarh College of Engineering and Technology

ALIGARH-202001
 ACKNOWLEDGEMENT

I would like to express my profound gratitude to Mr. Dinesh Kumar Singh

(HOD) of Master of Business Administration department, and Dr. Roshan
Sheikh for their contributions to the completion of my project titled “Emerging
technologies used in IT Industry”.

I would like to express my special thanks to our mentor, Friends and Family for
his/her time and efforts he/she provided throughout the year. Your useful
advice and suggestions were really helpful to me during the project’s
completion. In this aspect, I am eternally grateful to you.

I would like to acknowledge that this project was completed entirely by me and
not by someone else.

GAMAN PRATAP SINGH

M.B.A 2 SEMESTER
 PREFACE
This report has been prepared as a part of my mini project, as a part of MBA.
The report is prepared with the view to include all the details regarding the
project that I carried out.

The initial position is the description and study of Information Technology

Industry. How the IT Industry has developed in these years, what are its
impacts and what are the emerging Technologies used in Information
Technology Industry. I have also given the microscopic view of the Industry by
studying the Major Companies of IT Industry like TCS, Mphasis, Wipro etc. All
the details of the companies I have studied is mentioned in the initial part of
the report. Next the second position is regarding the core project – Emerging
Technologies used in Information Technology Industry.

In this project, I have taken various upcoming and existing technologies used in
the Information Technology Industry. Thus, as you go ahead the report, it will
reveal minute details of the work that I have done in my project.

EXECUTIVE SUMMARY
Last year’s Tech Trends report explored nine macro technology forces that
form the backbone of business innovation and transformation. For a decade,
we’ve been tracking the emergence and eventual ascent of digital experience,
analytics, cloud, digital reality, cognitive, block chain, the business of IT, risk,
and core modernization. This year’s update takes a fresh look at enterprise
adoption of these macro forces and explores how they’re shaping the tech
trends we predict will disrupt businesses over the next 18 to 24 months. To
realize the full promise of these forces, organizations are exploring how they
intersect to create more value as well as new ways to manage technology and
the technology function. This necessary step is becoming increasingly
important as businesses prepare to tackle emerging forces that appear farther
out on the horizon: ambient experience, exponential intelligence, and
quantum.
As technology strategy has increasingly become a core part of business
strategy in organizations, the demand for improved outcomes has grown. To
achieve this, we expect to see more IT and finance leaders working together to
develop flexible approaches for innovating and operating at the speed of agile.
Whether under the name of supporting innovation, defending against
disruption, or enabling digital transformation, IT will need finance’s support to
effectively rethink governance of technology innovation, adapt to Agile
methodologies, and secure creative capital. The work of transitioning to new
finance, budgeting, and accounting processes that support innovation will not
happen overnight. But there are strong incentives for both CIOs and CFOs to
find ways to effectively fund innovation. Some companies are already
embracing this trend and are exploring possibilities. They are at the leading
edge and will likely be the first to enjoy the competitive advantages that come
when finance funds innovation at the speed of agile.

There’s growing interest among enterprises in looking beyond what’s new to

what’s next, and no wonder—an understanding of what’s coming may inform
early planning and enable relationships that could make reaping future
rewards possible. Leading organizations have disciplined, measured innovation
programs that align innovation with business strategy and a long-term
technology landscape. They take a programmatic approach to sensing,
scanning, vetting, experimenting, and incubating future macro technology
forces—such as ambient experiences, exponential intelligence, and quantum—
until the technology, the market, and the business applications are ready on an
enterprise wide scale. Other organizations should consider following suit, using
the knowledge gained to reimagine and transform their enterprises, agencies,
and organizations before they themselves are disrupted. In a world of
seemingly infinite unknowns, it is possible to focus attention on a meaningful
collection of known technologies that, taken together, can help you chart a
path to the next horizon.
Table of Contents
A Project Report
ACKNOWLEDGEMENT
PREFACE
EXECUTIVE SUMMARY
SCOPE OF STUDY
INTRODUCTION
EMERGING TECHNOLOGIES USED IN INFORMATION TECHNOLOGY INDUSTRY
SWOT ANAYLSIS: INFORMATION TECHNOLOG
SWOT ANAYLSIS: INFORMATION TECHNOLOG
SWOT ANAYLSIS: INFORMATION TECHNOLOGY
SWOT ANAYLSIS: INFORMATION TECHNOLOGY
SWOT ANAYLSIS: INFORMATION TECHNOLOGY
ISSUES IN THE INFORMATION TECHNOLOGY INDUSTRY
CHALLENGES FACED BY THE IT INDUSTR
IMPORTANCE OF LATEST TECHNOLOGY USED IN IT INDUSTRY_ LIMITATIONS OF LATEST
TECHNOLOGY USED IN IT INDUSTRY
CONCLUSION
 SCOPE OF STUDY
In simple words we can say Information Technology is the study of systems
about computers and telecommunications and storing, retrieving, and sending
information. We all know that the world had become impossible to move
without Information Technology. Among other sectors, the IT sector in India
has been driving growth for the last decade

In future the IT sector has grown much faster globally.

Now the world had become impossible to move without Information

Technology. No doubt that IT fields are in its developing path. we’ll get well-
paying job right from the start. IT students have a lot of scope for their coming
future.

Since the technologies and IT sectors are increasing day by day, the need of
employers are also increasing.

IT also help a professional to get job opportunities in many foreign companies

or top companies in India. i.e. Tata Consultancy Services (TCS), Wipro
Technologies, Cognizant, Yahoo!, Google, Tech Mahindra, Infosys
Technologies,
HP, Cap Gemini, iGATE Patni, Accenture, L& T, EY, Convergys, HCL
Technologies and Godrej InfoTech. We have lots of Advantages of IT.

The IT industry has also created significant demand in the Indian education
sector, especially for engineering and computer science.

In India IT and IT’S industry is divided into four major segments – IT services,
Business Process Management (BPM), software products and engineering
services, and hardware.

Employees from 12 Indian start-ups, such as Flipkart, Snap deal, Makemytrip,

Naukri, Ola, and others, have gone on to form 700 start-ups on their own, thus
expanding the Indian start-up ecosystem.! India ranks third among global
startup ecosystems with more than 4,200 start-ups.
 INTRODUCTION

Information technology (IT) is the use of computers to create, process, store,

retrieve and exchange all kinds of data and information. IT forms part of
information and communications technology (ICT). An information technology
system (IT system) is generally an information system, a communications
system, or, more specifically speaking, a computer system — including all
hardware, software, and peripheral equipment — operated by a limited group
of IT users, and an IT project usually refers to the commissioning and
implementation of an IT system.

Although humans have been storing, retrieving, manipulating, and

communicating information since the earliest writing systems were developed,
the term information technology in its modern sense first appeared in a 1958
article published in the Harvard Business Review; authors Harold J. Leavitt and
Thomas L. Whisler commented that "the new technology does not yet have a
single established name. We shall call it information technology (IT). Their
definition consists of three categories: techniques for processing, the
application of statistical and mathematical methods to decision-making, and
the simulation of higher-order thinking through computer programs.

The term is commonly used as a synonym for computers and computer

networks, but it also encompasses other information distribution technologies
such as television and telephones. Several products or services within an
economy are associated with information technology, including computer
hardware, software, electronics, semiconductors, internet, telecom
equipment, and e-commerce.

HISTORY
Ideas of computer science were first mentioned before the 1950s under the
Massachusetts Institute of Technology (MIT) and Harvard University, where
they had discussed and began thinking of computer circuits and numerical
calculations. As time went on, the field of information technology and
computer science became more complex and was able to handle the
processing of more data. Scholarly articles began to be published from
different organizations.

Looking at early computing, Alan Turing, J. Presper Eckert, and John Mauchly
were considered to be some of the major pioneers of computer technology in
the mid-1900s. Giving them such credit for their developments, most of their
efforts were focused on designing the first digital computer. Along with that,
topics such as artificial intelligence began to be brought up as Turing was
beginning to question such technology of the time period.

Devices have been used to aid computation for thousands of years, probably
initially in the form of a tally stick. The Antikythera mechanism, dating from
about the beginning of the first century BC, is generally considered to be the
earliest known mechanical analog computer, and the earliest known geared
mechanism. Comparable geared devices did not emerge in Europe until the
16th century, and it was not until 1645 that the first mechanical calculator
capable of performing the four basic arithmetical operations was developed.

Electronic computers, using either relays or valves, began to appear in the

early 1940s. The electromechanical Zuse Z3, completed in 1941, was the
world's first programmable computer, and by modern standards one of the
first machines that could be considered a complete computing machine.
During the Second World War, Colossus developed the first electronic digital
computer to decrypt German messages. Although it was programmable, it was
not general-purpose, being designed to perform only a single task. It also
lacked the ability to store its program in memory; programming was carried
out using plugs and switches to alter the internal wiring. The first recognizably
modern electronic digital stored-program computer was the Manchester Baby,
which ran its first program on 21 June 1948.

The development of transistors in the late 1940s at Bell Laboratories allowed a

new generation of computers to be designed with greatly reduced power
consumption. The first commercially available stored-program computer, the
Ferranti Mark I, contained 4050 valves and had a power consumption of 25
kilowatts. By comparison, the first transistorized computer developed at the
University of Manchester and operational by November 1953, consumed only
150 watts in its final version.

Several other breakthroughs in semiconductor technology include the

integrated circuit (IC) invented by Jack Kilby at Texas Instruments and Robert
Noyce at Fairchild Semiconductor in 1959, the metal–oxide–semiconductor
field-effect transistor (MOSFET) invented by Mohamed Atalla and Dawon
Kahng at Bell Laboratories in 1959, and the microprocessor invented by Ted
Hoff, Federico Faggin, Masatoshi Shima, and Stanley Mazor at Intel in 1971.
These important inventions led to the development of the personal computer
(PC) in the 1970s, and the emergence of information and communications
technology (ICT).

By the year of 1984, according to the National Westminster Bank Quarterly

Review, the term information technology had been redefined as "The
development of cable television was made possible by the convergence of
telecommunications and computing technology (generally known in Britain as
information technology)." We then begin to see the appearance of the term in
1990 contained within documents for the International Organization for
Standardization (ISO).

Innovations in technology have already revolutionized the world by the twenty

first century as people were able to access different online services. This has
changed the workforce drastically as thirty percent of U.S. workers were
already in careers in this profession. 136.9 million people were personally
connected to the Internet, which was equivalent to 51 million households.
Along with the Internet, new types of technology were also being introduced
across the globe, which has improved efficiency and made things easier across
the globe.

Along with technology revolutionizing society, millions of processes could be

done in seconds. Innovations in communication were also crucial as people
began to rely on the computer to communicate through telephone lines and
cable. The introduction of the email was considered revolutionary as
"companies in one part of the world could communicate by e-mail with
suppliers and buyers in another part of the world.

Not only personally, computers and technology have also revolutionized the
marketing industry, resulting in more buyers of their products. During the year
of 2002, Americans exceeded $28 billion in goods just over the Internet alone
while e-commerce a decade later resulted in $289 billion in sales. And as
computers are rapidly becoming more sophisticated by the day, they are
becoming more used as people are becoming more reliant on them during the
twenty-first century.

MAJOR IT HUBS IN INDIA

Bangalore

Bangalore is a global technology hub and is India's biggest tech hub. As of fiscal
2016–17, Bangalore accounted for 38% of total IT exports from India worth
$45 billion, employing 10 lakh people directly and 30 Lakh indirectly. The city is
known as the "Silicon Valley of India".

Bangalore is also known as the "startup capital of India"; the city is home to 44
percent of all Indian unicorn startup companies as of 2020.
Hyderabad

Hyderabad – known for the HITEC City or Cyberabad – is India's second largest
information technology exporter and a major global IT hub, and the largest
bioinformatics hub in India. Hyderabad has emerged as the second largest city
in the country for software exports pipping competitors Chennai and Pune.

Chennai

As of 2018, Chennai is India's third-largest exporter of information technology

(IT) after Bangalore and Hyderabad and business process outsourcing (BPO)
services. TIDEL Park in Chennai was billed as Asia's largest IT park when it was
built.

Kolkata

Kolkata (Greater) is one of the major and the biggest IT hub of East India. Most
of the IT parks and offices are located at New Town and Bidhannagar. Salt Lake
Electronics Complex in Bidhannagar Salt Lake Sector-V is India's first fully
integrated Electronics Complex. As of 2020, The IT sector employs more than
200,000 people directly. Total export from IT sector was estimated at 25,918
crores in 2021-22. In 2022, Kolkata generated 20,000 direct jobs in just 6
months, which is an all-time high for IT industry in East India.

Pune

The Rajiv Gandhi InfoTech Park in Hinjawadi is a 60,000 crore (US$8.9 billion)
project by the Maharashtra Industrial Development Corporation (MIDC). The IT
Park encompasses an area of about 2,800 acres (11 km2) and is home to over
800 IT companies of all sizes.

Delhi NCR
Delhi NCR is one of the major IT hub in India. Cities in NCR like Gurgaon and
Noida have several companies that serves the local and global markets who
take help from these IT hubs.

TOP IT COMPANIES
Tata Consultancy Company – India’s largest Information
Technology (IT) company.

As measured by revenue, Tata Consultancy Services is the largest IT Company

in India. For more than fifty years, TCS has provided IT services, consulting and
business solutions to the world’s largest companies.

Business, technology, and engineering services and solutions are available

through a consulting-led, cognitive-powered, integrated portfolio from TCS.
According to its market capitalization, TCS is the largest Company in India.

Infosys

India’s largest software company. With over 228,000 employees, Infosys is a

global consulting and IT services company listed on the NYSE. The Company
ranks second among the top 10 IT companies in India
 HCL Technologies

The IT company HCL Technologies is among the best in India. Digital technology
transformation helps global enterprises reimagine and transform their
businesses through the Company’s international IT services.

Under its Mode 1–2–3 growth strategy, the Company provides an integrated
portfolio of services. It is the third-largest IT company in India.

Wipro Limited

Wipro Limited is based in New York City, and the Company provides
information technology and business process services worldwide. The
Company is among India’s top-five IT companies.

The tools to help clients adapt to the digital age include cognitive computing,
robotics, cloud computing, analytics, and emerging technology. The Company
is ranked fourth on the top Indian IT companies list.

Mphasis

Mphasis Limited is an Indian multinational information technology services and

consulting company based in Bengaluru. The company provides infrastructure
technology and applications outsourcing services, as well as architecture
guidance, application development and integration, and application
management services. It serves financial services, telecom, logistics, and
technology industries. Mphasis was ranked #7 in India IT companies and
overall #189 by Fortune India 500 in 2019. In April 2016, Hewlett Packard
Enterprise sold the majority of its stake in Mphasis to Blackstone Group LP for
around US$1 billion.
 CHAPTER 3: EMERGING TECHNOLOGY

EMERGING TECHNOLOGIES USED IN

INFORMATION TECHNOLOGY
INDUSTRY
To help meet the demands of a technology-enabled consumer base, solution
providers must embrace digital transformation to realize their full potential.
These are the top 15 emerging technologies that businesses need to keep an
eye on in 2024.

1. AI (ARTIFICIAL INTELLIGENCE)

Artificial intelligence is poised as a tool of choice for businesses and solution

providers. As is often seen with social media, AI, combined with machine
learning, deep learning and neural networks, can be a powerful combination.
Businesses can use AI to achieve cost-saving benefits, streamline business
processes, improve the customer experience, enable more efficient
communications through chat bots, increase customer satisfaction and provide
insight into purchasing behavior to inform decision-making.

Additionally, machine learning can analyze large datasets and provide scaled
insight. We are currently just scratching the surface of how machine learning
and AI can work together to enable businesses. In fact, the global AI market is
projected to grow at a CAGR of 36.2% to reach $407 billion by 2027. Current
applications provide huge growth potential for solution providers who can fully
understand the capabilities and functionality of AI to tailor solutions to meet
business demands in the digital world.
 2. BLOCKCHAIN
Past discussions of block chain often hinged on cryptocurrency, but the real
power lies in the immutability and transparency of a block chain. Block chains
use distributed ledger technology resulting in a fixed and highly visible record
of activity with high potential for business applications.

The block chain is an information system that holds promise for supply chain
management, enabling transparency into the journey of materials from origin
to product. Block chain technology will also allow for better record
management, providing a snapshot of any record from its origination. This
could be used to verify orders, purchases, returns, receipt of product—you
name it.

Smart contracts are another block chain application that ensures delivery of
conditions. Smart contracts release data when both participants have met the
criteria of an agreement. They offer endless capabilities for ensuring
frameworks are carried out and therefore can help position you as a trusted
solution provider.

3. COMPUTER VISION
This field allows computers to derive meaning from visual input, and then take
action or make decisions based on that data. Computer vision requires a huge
amount of data to train algorithms to understand subtle differences and
recognize different visual inputs.

There is significant business potential for computer vision prototypes, which

could inspect products and processes as part of quality control to analyze for
nearly imperceptible differences and imperfections. Business applications
include using Google Translate to translate signage to a native language and
making sense of traffic signs in self-driving cars.
 4. CUSTOMER DATA PLATFORMS

If data is the new gold, then customer data platforms are the new banks.
Businesses benefit from knowing as much about customers as possible so that
they can hyper-personalize experiences and know how best to reach and
engage prospects and customers. But often, knowledge is disparate, located
across several systems or platforms with no single unifying source. Customer
data platforms bring this information together into a single source to provide a
comprehensive picture of consumers and eliminate the potential for unclean
data.

5. CYBERSECURITY MESH
Cybersecurity no longer operates as an addendum in the world of information
technology. As companies made the move to remote working models during
the pandemic, a few pressing issues came to light. Not only is cybersecurity an
absolutely critical element of business operations, but traditional approaches
are not flexible enough, or don't have the bandwidth, to accommodate for a
large-scale remote workforce.

Cybersecurity mesh is a completely different approach to digital security.

Cybersecurity mesh allows companies to create security measures based on
the identity of a device, rather than proximity to secure connections. It’s a
distributed approach rather than defining a perimeter based on network reach.
In addition, cybersecurity mesh also allows for easy scalability across a
distributed workforce.

6. DIGITAL HEALTH
If COVID-19 left a legacy that will remain, it’s digital health. As patients became
unable to visit doctor’s offices and hospitals, digital health rose to fill the gap.
But now that hurting or sick individuals have realized there are opportunities
for receiving appropriate healthcare from their providers without in-person
visitation, they are taking advantage of that opportunity. This fad is certainly
here to stay and in the coming years will likely give rise to associated new
technologies that leverage innovations such as biometrics to produce smart or
connected medical equipment that will enable continued distanced medical
examinations.

7. DIGITAL TWIN
Almost anything is possible with the right coding, and now we can digitally
copy a person. The virtual manifestation of a person is a real-time
representation of what takes place in the human body. Digital twins are very
useful for helping us to predict outcomes and measure performance. There are
multiple business and healthcare applications that allow us to perform testing
and apply data analytics that was previously difficult and time consuming to
realize with living subjects. Advancements such as genome mapping and gene
therapy could become more viable in the near future. Additionally, digital twin
technology could finally eliminate the need for clinical trials in humans as we
work to manage future medical challenges.

8. EDGE COMPUTING
Edge computing is a decentralized model which places computing nodes closer
to the source of interaction. Gartner defines edge computing as a model where
“information processing and content collection and delivery are placed closer
to the sources, repositories and consumers of this information.” This model
optimizes technological interactions and reduces latency at the point of origin
to enable more effective and real-time data consumption. Edge computing is
quickly becoming the most efficient path for localized interactions.

9. IOB (INTERNET OF BEHAVIORS)

As the world becomes more digitized, informed business is the key to success
and the internet of behaviors or IoB provides greater clarity into consumer
behavior. For those companies wanting to keep a competitive advantage, the
IoB is offering opportunities in the form of data collection and analysis
regarding consumer interactions, preferences and purchasing behavior.

Similar to the internet of things (IoT), IoB provides substantially greater insight
into how consumers are participating in the purchasing journey, analyzing data
collected from IoT and online sources with a psychological perspective.
Ultimately, this technology is designed to help businesses improve the user
experience and engage with consumers in a more meaningful way.

10. Low-code Technology

Low-code technology is bringing software development to those without a high

level of technical knowledge. Traditional software development is a long,
arduous process, requiring a high level of programming knowledge and a
significant time investment. With low-code technology, software can be
developed with a drag-and-drop interface and no extensive backend coding.
This allows business users to solve a variety of specific challenges without
needing to engage a highly technical resource.

11. Quantum Computing

Quantum computing offers unique opportunities for predictive analysis that

extend beyond the capacity of conventional computing. Quantum computers
leverage the principles of superposition and entanglement to process
information on an exponential scale. While Google came on the scene in 2017
with a promise of the largest quantum computer, IBM has actually made it
possible for businesses to leverage this technology.
Quantum computing offers businesses a powerful tool for predictive analytics
and big data analytics. As we encounter new problems, quantum computing
will help predict viable solutions.

12. Robotic Process Automation (RPA)

Robotic process automation is a term that is gaining ground recently. The

name is something of a misnomer however, as there are no physical robots
involved in these tasks. RPA involves automation of tasks using bots that
previously required human labor and follow a repetitive pattern to accomplish
more of these computer-based tasks with enhanced efficiency. Many
businesses are embracing RPA to help achieve more efficient workflows for
rule-based tasks.

13. Spatial Computing

Spatial computing is often what we see when we look at futuristic movies.

Rather than interacting with a static computer that sits on your desk, we are
now engaging with computing as we move throughout our daily lives. Spatial
computing involves virtual reality (VR) and augmented reality (AR), but goes
well beyond those categories. Spatial computing involves interacting with
digital elements in an intertwined fashion with the real world. Think of smart
homes, speaking commands to achieve real-world goals or using smart glasses
as you move throughout the world, using digital resources and interfaces to
inform real-world experiences.
 14. 5G in Everyday Life

The connectivity speeds accomplished with 5G greatly outpace those seen with
previous networks. 5G networks offer the supporting foundation that
businesses can leverage to embrace many upcoming disruptive technologies.
But in recent times, 5G technology hasn’t gained the momentum that was
anticipated. It’s projected that infrastructure will finally reach a viable point
and devices will become affordable enough so we can actually leverage the
power of 5G.
 SWOT ANAYLSIS: INFORMATION
TECHNOLOGY
STRENTHS:

IT Analysis: Strengths of Having an IT Network

Organizations are always looking forward to finding ways to overtake their
competitors. Therefore, an organization must have many strengths to become
a dominant player in the market.

Increases Efficiency
As the world has gained speed after all the technological developments,
organizations must carry out their operations efficiently.

Along with many advantages, one of the prime advantages of having an IT

network is that it provides great efficiency to the organization. This is because
it carries out tasks and operations that people used to do manually in the
shortest possible time.

This saves time and a lot of money since now less time and resources are used
to carry out the same task. This is beneficial for the organization financially.

Increases Security
Organizations need to keep their data safe from getting stolen or getting
misplaced. Organizations use different methods to keep their data safe since
they know what sorts of penalties and fines they’ll have to pay in case of a data
breach.
Organizing business’ data and information is essential to any company. That
means safeguarding the data and making it available to authorized users is of
the utmost importance. To do that, organizations need a backup system.

An IT network will safeguard the organization’s files by properly storing them

and providing active backups that make a recovery easy, even if something
goes wrong. They can also provide cybersecurity solutions like email
encryption software and data-loss prevention solutions that ensure businesses
won’t prey on cyber-attacks.

Increases Revenue
Businesses are always looking to increase their revenue. Establishing an IT
network can increase business revenue by reducing downtime and improving
productivity.

This saves valuable time and money, allowing business management to do

fewer unnecessary tasks without sacrificing quality or value. In addition, by
investing in IT support, businesses can save serious cash, increasing revenue by
reducing downtime and improving their office productivity .

SWOT ANAYLSIS: INFORMATION

TECHNOLOGY
Weaknesses:

IT Analysis: Weaknesses of Having an IT Network

Weaknesses are the shortcomings that make an organization struggle in the
market. In the previous section, we discussed some of the strengths of having
an Information Technology network. However, this section will discuss some
weaknesses of having an IT network.

 High Setup Costs

Organizations realize the advantages of having an IT network. However, it is
difficult for them to establish an IT network due to high setup costs.

To establish an IT network, first, you must spend a lot of money to purchase

computers and other equipment. After that, other costs follow, such as the
cost of training employees to use computers and purchasing software that’ll
carry out the operations. Despite the strengths of having an IT network,
organizations avoid setting up an IT network due to the high setup cost
involved in the process.

 Time Consuming
Besides requiring vast sums of money, a lot of time is also required to establish
a proper IT network. After buying all the necessary equipment, organizations
will have to train the workforce to get familiar with the technology. This will
require months. As a result, a lot of time will be wasted.

Other than that, if the organization chooses to hire skilled workers to become a
part of its IT network, the recruitment process will require a lot of time to
select a qualified team.

 Increased Dependence on IT Network

Once an organization establishes its IT network, it slowly and gradually
becomes dependent on it. The organization starts assigning tasks to the IT
network that it used to do manually. Moreover, it gets dependent on the IT
network for handling data.
The access to data increases since more people manage the organization’s
data. However, such high dependence on the IT network can be considered a
weak point for the organization.
 SWOT ANAYLSIS: INFORMATION
TECHNOLOGY

Opportunities:

IT Analysis: Opportunities Provided by IT Network to Organizations

Every organization is provided with opportunities to achieve success in one
form or the other. However, organizations need to grab the opportunities
timely to benefit themselves. Having an Information Technology network
provides many opportunities for organizations.

 Reduction in Expenses
Businesses are always trying to reduce expenses and enjoy high profits.
Establishing an IT network in the organization can help reduce expenses.

Since IT networks automate operations, it cuts down the cost of operations by

increasing efficiency. Moreover, due to automation, an organization gets highly
dependent on the IT network to carry out its operations. As a result, many
employees are laid off, due to which the company’s salary expense is cut
down.

This reduction in expense provides an opportunity for the organization to

invest the saved money in other operations.

Improved Planning
Forecasting and planning are essential for organizations so that they can form
strategies for the future accordingly. Before the rise of information technology,
the organization’s management manually forecasted the future according to
which long-term plans were made.

Since there is always a margin for errors in forecasting manually, the results of
forecasting were not always accurate. However, the usage of information
technology in forecasting has minimized errors, and it has made the estimating
process more accurate. This provides an opportunity for the organization to
prepare an accurate plan for the future.

Growth
Every business wants to maximize its growth by using all its resources. IT
networks allow businesses to grow by increasing their reach to potential
customers through effective marketing.

Moreover, it helps find the most appropriate and skilled workforce to open
growth avenues for the organization.

SWOT ANAYLSIS: INFORMATION

TECHNOLOGY
Threats:

IT Analysis: Threats Caused by IT Networks

Threats are the worries that an organization has to deal with. Where
Information Technology networks are considered very beneficial, their
presence also causes some threats to the organization. Let’s proceed further to
shed light on some of the threats caused by IT networks.
 Security Risks
With the shift toward cloud-based software and services, most IT solutions are
moving toward cloud-based systems. Besides that, data and information are
saved on IT network computers. Although this has made it convenient for
organizations to store their data. However, significant risk is involved in storing
data on computers and online.

Hackers can hack the system to extract the data from the databases. This can
adversely affect business operations since lawsuits can be filed against the
organization on the charges of a data breach.

Moreover, essential data can be lost if viruses attack the database. This can
disrupt the organization’s operations, and money will be needed to recover the
lost data.

Actions from Law Enforcement Agencies

Before organizations started availing the services of IT networks, a few people
were responsible for storing data and information. However, more people
have access to classified data after the arrival of IT networks.

This increase in data access can result in a data breach, and law enforcement
agencies can impose heavy fines on the organization. Besides that, if an
organization is labelled with a data breach, its customers will also not trust the
organization with their data in the future.

Disruption in Operations
The organizations’ reliance on IT networks has increased since many
operations of the organizations are now carried out by them. Since IT networks
need computers and the internet to carry out these tasks, problems can arise if
the internet service or electricity supply is disrupted for some reason.

In case IT networks fail to carry out tasks due to disruption in power or the
internet, the operations of the organization will get disrupted.

SWOT ANAYLSIS: INFORMATION

TECHNOLOGY
Information Technology SWOT Analysis: Final Word

Information technology has become a significant part of our lives. It helps us in

carrying out different tasks and storing data. In today’s article, we shed light on
the IT industry’s history and an IT network’s operations. Other than that, we
also discussed the worth of the IT industry currently.

After that, we conducted Information Technology’s SWOT Analysis to find out

the strengths, weaknesses, opportunities, and threats faced by organizations
with an IT network based on the SWOT table.

SWOT analysis is an essential tool used by business analysts. The SWOT matrix
highlights the internal and external factors that impact an organization’s
operations.

Today’s IT analysis discussed how having an IT network strengthens

organizations. Moreover, we also shed light on some of the weaknesses
organizations possess due to the operations of IT networks.
 CHAPTER – 2
ISSUES & CHALLENGES

ISSUES IN THE INFORMATION

TECHNOLOGY INDUSTRY
Economic uncertainty, the need to continually drive business value, and
shifting ways of working and leveraging IT continue to reshape the CIO agenda
as priorities shift mid-year.

The list of expectations on CIOs continues to lengthen, as they face pressure to

seize on new technologies and drive the organization forward while
simultaneously improving efficiency, dealing with staffing challenges, and
facing a tech skills gap.

Granted, each CIO will have a unique list of priorities and challenges based on
enterprise objectives and its industry vertical. But the following 12 issues are
ones that CIOs commonly find themselves contending with today.

1. HARDENING CYBERSECURITY

Most CIOs not only see cybersecurity as one of their top issues today, a
majority name it as their No. 1 concern.

Consider the findings from the 2023 Insight Intelligent Technology Report, an
IDC Info Brief. The survey found that cybersecurity is one of the top challenges
facing organizations, with 56% of respondents saying so.
Meanwhile, Lenovo’s Global Study of CIOs showed that 66% of CIOs listed
cybersecurity/ransomware and 66% listed data privacy/security as top
challenges.

“As technology evolves, hackers adjust their methods to new norms, making
security threats a constant concern that requires IT leaders and their teams to
be vigilant around the clock,” says Jeremy Refuse, vice president of IT and head
of digital workplace at software company GoTo.

2. OPERATIONALIZING ARTIFICIAL INTELLIGENCE

Harnessing the power of AI — and particularly generative AI — is also

dominating the CIO’s agenda, according to multiple sources.

“The No. 1 question these days is, ‘How do we leverage generative AI?’” says
Thomas Phelps, vice president of corporate strategy and CIO of Laser fiche.
“It’s being brought up by the executive staff, the board, at trade shows, and in
the media; you can’t walk anywhere without hearing about generative AI.”

Phelps and other tech execs say they’re focusing on how to use AI throughout
their organizations to not only be more effective and efficient but to be more
innovative and transformative, too. But they’re additionally tasked with doing
so in a secure and ethical manner, necessitating the development of new
strategies, practices, and governance policies that for many are still very much
in the works.

3. COPING WITH ECONOMIC PRESSURES, UNCERTAINTY

Although the majority of CIOs have seen their IT budgets increase, they also
say they’re feeling the pinch of inflation because that extra money isn’t
covering their higher costs.
For example, the CIO Pulse: 2023 Budgets and Priorities survey from Software
One reports that 93% of the 600 IT leaders it surveyed said their budgets are
up, yet 83% also say that they will have to achieve more with less.

That has CIOs looking at how they can drive more efficiencies both in their own
IT departments as well as throughout their organizations.

4. MODERNIZING AT SPEED

The ever-increasing pace of technology change also has CIOs’ full attention.

Joel Schwalbe, CIO of biotech company Transnet, says he’s focused on

continuously reducing technical debt and modernizing his company’s tech
stack so his IT team can minimize the resources needed for maintaining the
environment and instead maximize the time and energy spent on supporting
business objectives.

5. INNOVATING MEANINGFULLY

Of course, as CIOs know, that modernization effort can’t just be for the sake of
getting new technologies. It must drive business objectives and ultimately
transformation. Research confirms the emphasis on IT as innovator: In the May
2023 Technology Pulse Poll from professional services firm EY, 94% of surveyed
tech executives said that “company-wide innovation will help them come out
of the current economic downturn a stronger company than before”; 94% said
their company plans to increase investments in IT or emerging technologies
over the next year; and 81% said their company plans to make an innovation
related acquisition in the next six months.
 6. ENSURING ITS VALUE PROPOSITION

Just as innovation must bring tangible returns to the enterprise, so too are
CIOs expected to work with their business colleagues to calculate the value
proposition of tech initiatives.

“There’s a focus on the value it’s going to generate for the organization,” he
adds.

7. PREPARING IT TEAMS FOR THE FUTURE

IT workers must keep pace with evolving technologies to ensure they can
deliver and support the tools and capabilities their organizations will need to
be successful. Moreover, technologists want to learn new skills, with multiple
studies showing that they’ll switch jobs if they feel like they’re stagnating in
their current role. (In one recent survey, 47% of responding tech workers said
they’re considering leaving their current job to grow their skills.)

“Skilled IT labor is going to continue to be difficult to find in the future, so CIOs

more than ever are going to have to look at opportunities for their staff to
upskill,” says Matt Deneroff, vice president of technology talent solutions at
staffing firm Robert Half.
 8. CREATING A HYBRID WORK ENVIRONMENT THAT WORKS
FOR EVERYONE

CIOs say they themselves also must learn to work in new ways as the world
shifts, particularly when it comes to supporting a hybrid workforce across their
organization as well as leading their own teams in this new workplace model.

“Equipping employees with the tools and support they need to do their jobs,
no matter where they are, needs to be a top priority for IT teams,” Rafuse says.

But at the same time Rafuse says CIOs, himself included, should consider what
that means for IT staffers.

“[The] IT manager must balance this flexibility with a good life/work balance.
Just because IT teams can always be on, doesn’t mean they should if you want
to keep good talent around for the long term,” he says, noting that “businesses
should strive for quality over quantity by streamlining the number of
technologies and software they are using thus reducing the burden on IT. This
will create a more positive and functional virtual working environment for
employees, while reducing cross-department friction and IT team burnout.”

CHALLENGES FACED BY THE IT

INDUSTRY

Information Technology a buzz word and boon for us, the generation of 21st
century. It is a developing field which has changed our lives and acted as a
pioneer to drive globalization. But as we enjoy the perks of the digital era there
are few challenges too.
 1. CYBER SECURITY THREATS

There have been more than a 50% increase in data breaches in the last four
years. The losses suffered by the industry because of these data breaches are
reported to be $200,000 on an average across the business.

Common types of cyber-attacks: Fishing, Ddos, Spyware, Ransomware,

Malware including viruses like Trojans, Worms, Key loggers.

2. TALENT SHORTAGE

“Increasingly businesses are in the need of people with combinations of skill

that have not previously been aligned, like analysts with coding abilities, or
paramedics who understand statistics.” “They are looking for super-specialized
skillsets. They are not looking for traditional people”

There is a huge gap in the skills the work demand and the skills job applicants
have. Our education system still needs to be revamped. And that affects the
industries that seek highly skilled employees. Unemployment is high in our
country, but the fact is that many companies are not able to find talent to fill
the positions.

The biggest reason behind this is the students or people are not updated with
the changing technological advancement. Due to automation, the demand for
specialized skills increased and this has resulted in the loss of jobs for the
unskilled labour. Quality of education is not adjusted according to the changing
landscape
Millions of job will be open in a few years but there is not enough talent in the
market to cater to these job openings. Technology is changing dynamically in
the industry but the learning rate of people is not up to the mark.

3. CLOUD COMPUTING

All organizations in the IT industry are using the cloud for a wide variety to
perform tasks like data backup, disaster recovery, email, virtual desktops,
software development and testing. Rather than buying or owning physical data
centers and servers one can access services such as computing power, storage
and databases from the cloud provider.

However, there are numbers of issues and concerns associated with cloud-like
cost, service provider reliability, downtime, data overload, password, security
issues and last but most important is data privacy.

4. REMOTE WORKPLACE
Working remotely can present unique challenges due to the lack of manager or
teammates to consult or to provide immediate responses or sources.
Infrastructure is the prime need to undertake such tasks, but to have such an
infrastructure large investments are flown in acquiring assets that can support,
govern and handle the heavy data loads. However, there are threats to these
arrangements too, hacking and preventing the theft of data needs powerful
firewalls and software. This is the added cost to the IT industry.
 5. RISKS OF OUTSOURCING

More companies are opting for outsourcing due to talent shortage or cost
reduction. But outsourcing has created some challenges like security threats,
legal complications, cultural and time zone issues.

Example: J.P. Morgan and IBM

J.P. Morgan cancelled its seven-year, $5 billion IT contract with IBM which was
the worst debacle for IBM in 2004 as J.P. Morgan opted to bring its own IT
talent back and it caused IBM loss of billions of dollars.

6. GOVERNMENT RULES OF DIFFERENT COUNTRIES

US companies hire highly skilled employees from other countries to work in

their companies for special assignments. These employees were given H1-B
visa but the trump administration changed the policy of H1-B visas which
caused a negative impact on the organizations which are dependent on the US
market. New procedures set by the US government to acquire H1-B made it
difficult for companies to prove that the employee/workers who were
travelling on an H1-B visa are supposed to serve a purpose in the project and
not travelling for personal benefits or hidden gains.

CONCLUSION

Challenges provide scope for improvement. The more an industry face it, the
more it flourishes. In this rapidly changing business environment, the
companies which cope up with the changing technology will hold their place in
the market for a long time.
 IMPORTANCE OF LATEST
TECHNOLOGY USED IN IT INDUSTRY
Why IT is important?
Information technology helps to build and grow the commerce and business
sector and generate the maximum possible output. The time taken by different
sectors to generate business is now minimized with advancements in
Information technology. It provides electronic security, storage, and efficient
communication.

To conduct the work, Information technology needs computer applications.

Computers connect IT to the different organizations of the world. It helps the
employees to maintain records of their numerous clients of various companies.
It helps patients to contact physicians’ online and take advice regarding their
health problems. Also, records of patients can be managed properly by the
system.

To collect information, programming/coding, data conversion, data

communications retrieval and storage, and system analysis are used. Even the
education sector has been dramatically changed with the arrival of Information
Technology. To run a business in the right way and generate expected
outcomes, computers, software, and the internet helps a lot.

Companies are now having virtual vaults which is a new form of storage system
which allows users to keep or withdraw their documents. The IT department is
providing a strong communication system to communicate effectively.

The use of computers and the internet increases the quality of education. The
pedagogical method of teaching and learning has been improving and IT
contributes to improving school systems, student activities, and teaching
practices.

Students are more open to learning with modern technologies and focusing on
online teaching more. Their learning methods are depending on live
interaction with the teachers and special classes for special children.

Students are not bound to use the same old traditional method of learning.
And all this is made possible by the introduction of Information Technology in
the education field and the importance of technology can be seen.

The aura of Information technology can be seen in almost all fields including
work, learning, leisure, and health. From ministries to classrooms, every sector
uses IT for the best results.

Physicians also use Information technology to check record entries, patient

history, and their prescribed dose to move accordingly. The use of Information
technology can also be seen in agriculture and to increase productivity.
Satellites are connected with agriculture to predict monsoons and smog.
Through drone technology, mass data collection, land surveys, use of
pesticides, seed planting, water irrigation, and use of fertilizers are possible.

Uses Of Information Technology

We can see the uses and role of information technology in our society in many
fields:
Business
Since the arrival of computers, the entire face of the business world has
changed. To run the different departments of business swiftly, the use of
Information Technology is important and it is possible with computers and
software. The use of information technology can be seen in departments such
as finance, human resources, manufacturing, and security. The role of IT can’t
be ignored.

Education
Technology enables teachers to be up to date with new techniques and help
their students to be updated with the latest technologies such as the use of
tablets, mobile phones, computers, etc. in education. Information technology
not only helps students to learn new things but also helps students to college
dropouts.

Finance
Information Technology opens the doors for traders and common people to do
online purchases. Banks keep records of all the transactions and account
through computers. Unlike before, now transactions and other deals have
become faster and easier.

Healthcare
With Information Technology, the field of medicine and health has been seeing
tremendous improvements. For doctors, sending and receiving information,
checking patients, and discussing with other experts have become very
convenient. Also, it reduces the time taken on paperwork.
Security
Online transactions and keeping records of all online transactions are now
safer than in earlier times. Only proper management and a person responsible
for the system can access the data online. It prohibits any random person from
checking the details. All these have been made possible by keeping the system
passwords proof. Only permissible authorities can access your information.

Communication
With improvements in information technology, globalization has increased.
The world is brought closer, and the world’s economy is quickly becoming a
single interdependent system. Information can be shared quickly and easily
from all over the globe, and barriers of linguistic and geographic boundaries
can be torn down as people share ideas and information with each other.

Employment
With Information Technology, new jobs have been introduced. It creates new
jobs for programmers, hardware and software developers, systems analyzers,
web designers, and many others. Information Technology has opened entirely
new fields and thousands of jobs for IT professionals.

LIMITATIONS OF LATEST
TECHNOLOGY USED IN IT INDUSTRY
1. PROCRASTINATION & DISTRACTION

While our phones can be incredibly useful, they can also distract us from more
important things like working, studying, or caring for our families.
It’s also all too easy to open a chat app, launch a mobile game, or catch up on
the latest episode of your favorite show. Unless you have an incredible amount
of willpower (which, let’s face it, most of us don’t), that can open the door to
procrastination and missed deadlines.

2. DIGITAL DEPENDENCE

As a society, we waste a tremendous amount of time using the latest gadgets

and devices.

But the problem goes much deeper than a missed deadline or a sleepless night.

We’re now so reliant on our digital devices that we would struggle to function
(or might even be unable to function) without them. Think of all the
information stored on your cell phone — contact information, personal photos,
passwords, etc. If you lost your phone right now, who would you be able to
call? How many phone numbers and addresses do you have memorized?

GPS and Sat Nav are incredibly useful, but overusing them can also make us
incredibly, well…stupid. The news is literally full of stories of people who,
without using Google Maps, can’t give directions to someone asking about a
landmark in plain sight!

Even worse, GPS can lead us or our vehicles down the wrong road and into a
dangerous location, putting our lives at risk.

It’s just one example of how being over-reliant on gadgets is one of the biggest
disadvantages of technology.
 3. TECHNOLOGY ADDICTION

• Computer or gaming addiction

• Cybersex and pornography addiction
• Compulsive information seeking
• Online relationship addiction
• Compulsive online spending or gambling

Like other types of addiction, technology addiction can have a serious impact
on someone’s daily life.

Overuse can jeopardize studies, jobs, finances, and relationships, especially if

the individual begins lying or trying to “cover up” how much time they spend
on their addiction.

When we spend too much time on electronic devices, it can also lead to a host
of physical, mental, and emotional health problems.

Headaches, eye strain, carpal tunnel syndrome, and weight changes are
common results, along with anxiety, depression, dishonesty, and mood swings.

4. JOB INSECURITY AND LOSS

As technology advances, human workers are worth less and less. Companies
can install a chatbot or build an automated robot that does the job of 10
human employees — often faster, more efficiently, and at a lower cost.

Employers no longer need to hire skilled workers within their own country and
pay high salaries.
It’s now possible to outsource “cheap” labour in the form of remote workers
from developing countries to perform essentially the same tasks for a fraction
of the price.

This is great news for growing businesses, but it’s terrible news for an
employee when their skill set becomes redundant and they lose their job.

Unfortunately, this will become a reality for many of us, as experts predict that
robots will take over 20 million jobs by the year 2030.

5. PRIVACY CONCERN AND CYBER CRIMES

With all the advancements in cybersecurity, such as two-factor authentication

and password encrypts, we should feel safe storing our information online.

Sadly, that’s not the reality. The typical computer is attacked once every 39
seconds, or 2,244 times every day. Anti-virus programs do a good job of
stopping some of these attacks, but millions of people fall prey to phishing
scams and direct hacks every year.

In the US, one in four people has either had personal information stolen by
hackers or been the victim of identity theft.

Meanwhile, in the first half of 2021 alone, UK businesses lost £1.3 billion to
cybercrimes and online fraud.
 6. DAMAGE TO THE ENVIRONMENT

A nuclear explosion during wartime is an extreme example of technology

harming the environment. But most of the damage that occurs to our planet
comes from benign, everyday uses of technology.

Most machines and devices contain at least some parts that are toxic or no
biodegradable.

For example, if you don’t recycle a basic battery, it will end up in a landfill. Over
time, it will corrode, leaching toxic chemicals into the soil and water. Lithium
batteries can even start fires that burn for years underground!

Almost every type of technology also needs a power source to operate. True,
society is moving towards cleaner, greener energy sources. But for now, we’re
burning through the planet’s supply of fossil fuels to keep our technology
operating.

7. LONELINESS AND SOCIAL ISOLATION

Experts say otherwise. A 2017 study found a direct correlation between

loneliness and social media usage.
Young adults who spent more time on social media were three times more
likely to feel socially isolated than those who used it less.
As one psychologist stated, “Those who are substituting online relationships
for real relationships don’t see a reduction in loneliness and may actually see a
deterioration” in how they think and feel.
Well, consider this: Loneliness costs UK employers £2.5 billion each year due to
lower productivity, sickness absence, and higher turnover rates. This is because
chronic loneliness contributes to an array of physical and mental health issues.
 CHAPTER 4: CONCLUSION

CONCLUSION
Progress in many of the basic computing and information technologies has
been rapid in recent years, and the committee does not expect the pace of
change to slow down in the foreseeable future. While some technologies are
reaching maturity now, many important technologies have enormous future
potential. As more of the world’s information is digitized and more people and
things are networked, the economics of the digital, networked economy will
become ever more important. This includes the ability to make copies of goods
and services at almost zero cost and deliver them anywhere on the planet
almost instantaneously. Furthermore, digitization of products, services,
processes, and interactions makes it possible to measure and manage work
with far more precision. Data-driven decision making and machine learning
provide vast opportunities for improving productivity, efficiency, accuracy, and
innovation.

The committee expects important innovations to come in the area of artificial

intelligence (AI) and robotics. Several decades ago, humans were unable to
converse with machines using ordinary speech; now it is done routinely.
Machines are learning to effectively translate from one language to another, a
task once seen only in science fiction. We are moving from an era where
machines were blind, unable to recognize even simple objects, to an era where
they can distinguish faces, read street signs, and understand the content of
photographs as well as—or better than—humans. They are being put to work
reading X-ray and MRI images, advising doctors on potential drug interactions,
helping lawyers shift through documents, and composing simple stories about
sports and finance for newspapers. Machines are becoming much better at
reasoning and can now defeat the best humans at most games of skill, from
checkers and chess to trivia and Go. Machines are learning to drive cars, which
could potentially save thousands of lives in the United States and millions
worldwide. Bipedal robots are learning to navigate stairs and uneven terrain,
while their cheetah-like brethren can outrun even the fastest humans. Many of
the technologies with the greatest impact will likely look unlike any human or
animal, but will transport shelves of inventory throughout warehouses,
assemble basic electronics in factories, fly to disaster zones with medicine,
swim beneath the waves to gather data for oceanographers, and haunt
computer networks in search of cyberattacks. In fact, many of these exist in
some form already, although they are likely to become more widespread and
more competent.

While there are undoubtedly important technological breakthroughs to come,

it is critical to note that the technologies that exist today and those under
active development have important implications for the workforce. They
create opportunities for new products, services, organizational processes, and
business models as well as opportunities for automating existing tasks, even
whole occupations. Many cognitive and physical tasks will be replaced by
machines. At the same time, we expect new job opportunities to emerge as
increasingly capable combinations of humans and machines attack problems
that previously have been intractable.

Advances in IT and automation will present opportunities to boost America’s

overall income and wealth, improve health care, shorten the work week,
develop new goods and services, and increase product safety and reliability.

These same advances could also lead to growing inequality, decreased job
stability, increasing demands on workers to change jobs, and changes in
business organization. There are also important implications for other aspects
of society, both intended and unintended, not the least of which include
potentially profound changes in education, privacy, security, social
relationships, and even democracy.

The ultimate effects of these technologies are not predetermined. Rather, like
all tools, computing and information technologies can be used in many
different ways. The outcomes for the workforce and society at large depend on
our choices. Technology can be a powerful tool. What do we want for our
future society? How do we decide this?

Potential future technological capabilities and innovations are largely

unpredictable, and their implications and interactions are complex. Investing in
extensive and effective data gathering, a robust infrastructure for analyzing
these data, and multidisciplinary research will enable a deeper understanding
of emerging changes in technology and the workforce. The results of this
research will inform the adoption of policies that will help maximize the
resilience and prosperity of the institutions, organizations, and individuals in
our society.