Prateek Suri : We Are Determined to keep Pace with the Technology as it Emerges

in this interview with Omolabake Fasogbon,  Chief Executive Officer of Maser Group, Prateek Suri talks about how technological innovation is  helping to shape businesses and day to day activities 

Technologies are being adopted by more and more businesses the world over. How do you think it can be adopted on an even larger scale?

With globalized economies and technology changing every day, along with new user-friendly gadgets in the market shelves it would be foolish to exclude Africa as a partaker in this exciting business mix. Today, there are so many business opportunities at the palm of our hands. Doing business is no longer privy to  the rich and mighty, but all and sundry willing to engage in business in this world , thanks to technology. Even the most far-flung person is a beneficiary of technology, especially mobile technology. In Tanzania for example, the number of unbanked drastically dropped and communication has been easier ever since the advent of new mobile technology. Mobile money transfers have made life easier for so many people. Embracing technology will not only increase business volumes but will bring about new ways with which to do things.

How do all these things lead to changes in business models and business behavior?

As leaders in business, one has to keep up the pace with technology that is growing in leaps and bounds. We are talking of the Internet of Things (IOT) and Artificial Intelligence (AI) that is expected to take the whole world by storm. Countries are moving from 4G to 5G platforms that will be the enablers for IOT and AI. TVs, Radios and other technologies have no choice but to tow the line. We are poised to adapt to the new technology and reap the benefits it is bound to accrue.

Speaking more broadly of Artificial Intelligence, do you think it can lead to large-scale improvement of the human intellect and of people, and in general?

Definitely! The good part is that life will become easier for those prepared for the said changers. These are new phenomena to most people but they are inevitable changes that will affect peoples’ lives for the better. I see a great future in technological advancement. Today, we are seeing the future advancing and we are ready for what the future brings.

People are concerned that AI can violate their privacy. Do you think such concerns can get in the way of the broader use of such technologies?

Cyber security has and will remain the biggest concern as technology advances. Developing appropriate technologies to counter the effects of cyber security, we as a company that is reliant on IoT and AI will rise to the occasion. We have to be on guard on matters of security.

Talking about ugt doors,  are these mundane tasks that you were talking about the thing that in the future we can delegate more and more to machines?

As the globe moves closer to being 100% connected, developing and emerging markets could be key drivers in the Internet of Things. According to the ITU’s 2015 Measuring the Information Society Report, the economic value of the IoT is still subject to a number of variables but the developing world represents a sound investment. The report cited research by McKinsey that said 40% of worldwide IoT market value would be generated from developing countries by 2020, many of which would be building new information technology infrastructure as part of development programs. We are already witnessing these changes across Africa.

Can you think of any unexpected domains other than politics that can benefit from AI technologies?

There are many bottlenecks as far as business is concerned. They range from policy formulation to attitudes about the use of technology. Over the years, there are many people who are not well versed with the use of basic technology. It is imperative that the users of technology learn the ropes.

Where does Maser Group fit into this picture of the technological world?

Electronic gadgets are essentially computers. Smart TVs have features that are similar to those found in computers. We intend to keep pace with the technology as it emerges. We are particularly going to see to it that the quality of our TVs meets world-class standards of clarity and colour while guaranteeing affordability.

Well, I can talk more about the IT industry. I think lots of companies are not taking full advantage of AI with its potential to help optimize their business processes. Most are still providing more engineering and brain power instead of utilizing AI to invent and sell products.

Through time, technology will find its own course to the companies that are yet to embrace technology. AI is a fairly new phenomena and adaptation to AI and IOT is need-driven. As time goes, we will witness a mass drift to the use of these concepts. With 4G that is upgradable to 5G, there is every reason to be optimistic