The Andhra Chamber of Commerce (ACC) along with the Madras Management Association (MMA) hosted a talk titled “Paradise Regained – AIMLA enables Strategic Profitability for the Technopreneur” by Prof. Bala V. Balachandran, the founder, Dean and Chairman of Great Lakes Institute of Management, India. 

‘AIMLA’ was an acronym created by Prof Balachandran, which expands into Artificial Intelligence, Machine Learning and Algorithmic Analytics.

In his speech, Prof. Balachandran, who is also a JL Kellogg Distinguished Professor of Accounting and Information Management at the Kellogg School of Management in Evanston, Illinois, focused on trending topics such as the Block Chain technology, what was known as the internet of things, 3D printing and augmented reality. 

They were mentioned by Prof. Balachandran as the game changing technologies of doing work in the future.

He mentioned that when he encountered a problem while driving a Tesla car in the US, he contacted Telsa’s helpline where he found out that the faults in the car were remotely fixed by engineers of the Tata Consultancy Services, in Chennai and in Bangalore. 

Using this real-life example, he emphasised that Indian engineers and IT professionals or “Techies” are preferred around the world. 

To tackle the problem of high unemployment rate of graduates, he said that the unemployed should be given the skills of Block Chain, machine learning, artificial intelligence and 3D printing, through the National Skill Development program. This, according to Prof. Balachandran, will boost the number of Indian software engineers, ready for jobs across the globe. 

According to his studies and research, he predicts that by 2020, there would be 4 billion people connected to the internet, where 4 trillion dollars of revenue will be generated. Twenty-five million apps will be present and 30 zettabytes of data will be used. (One zettabyte is equal to one trillion gigabytes [GB]).

This allowed him to urge the gathering, that this is where the Indian IT professionals could “lead the competition” and could take the top ranked spot in the world. 

He also gave a seven-step advice to the ‘Technopreneurs’, which were to develop a well mapped digital strategy, experiment, engage in reverse mentoring, integrate with technology, update skills regularly, recognize the changes and to be distinct.

His speech was well received by the audience, who are regular attenders of his events. Prof. Balachandran was casually addressed as ‘Uncle Bala’ by many in the audience, while quizzing him about his vision and current trends.