Rotarians learn about the impact of technology
Noshir Kaka
Noshir Kaka is the Managing Director of McKinsey and Company’s India office, founder of its Outsourcing and Offshoring practice and McKinsey’s Business Technology office in India. After joining the firm in 1994, he worked in South Asia, US, UK and India. He has assisted many companies in the areas of strategy development, organisational restructuring and operational performance improvement.He thanked the Rotary Club of Bombay for inviting him to speak on a stage where the audience is made up of his family friends and relatives. “It is a pleasure to be here. I would like to speak about how technology is reshaping the world and India. When we look at the forms of capital being invested in the United States today, 40 per cent of the total capital investment lies in technology and that is a staggering amount. From the 1980s, technology has been on a vertical curve.”
He also shared some statistics with Rotarians that represent the impact of technology not only in developed nations but developing countries such as India. “The value of Google, Apple, Sony and other technological companies put together totals approximately four trillion dollars. If we estimate the impact of technology on industries outside of technology — cars, infrastructure, financial services — the number is four to nine times larger. This is the kind of impact we are seeing across the world and not just in developed countries. We think we are on the cusp of an industrial revolution, but many of the technologies we see today will fundamentally change the way we work and look at the world around us
very soon.”
In conclusion, he said, “McKinsey and Company conducted a study that discovered that if you look at an industrial worker, a service worker and a knowledge worker, technology’s greatest impact would be on the knowledge worker. About 30 per cent of the jobs that we grew up with and that we are currently doing are no longer going to exist in thirty years!”