Saturday, March 28, 2020

Is a recession due to the coronavirus inevitable?

First things first: what is Recession? “In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending.”
What keeps an economy buzzing? It is the consumer; and a positive consumer sentiment that motivates us to shop for new cars, houses , household stuff and services.
Consumers are humans. With the #COVID19 induced barrage of news, uncertainty, and lockdowns humans around the world are feeling overwhelmed. The consumer and business sentiment is far from positive. Check out United States Consumer Sentiment index
The global economy is already in recession. Why do you think the governments around the world have stepped up with bailout plans? (ref: The bill for saving the world economy is $7 trillion and rising).
Let’s look at the light at the end of this tunnel: Humans are resilient when facing uncertainty. Recessions eventually lead to extended periods of growth. We will certainly get past this economic slump.

Sunday, January 12, 2020

Career advice: What are the jobs or domains that would thrive in the future, with the advent of AI, robotics, automation and all?

Here is my response to a recent question from an online forum.

Assuming you are asking about techno-functional role, a System Integrator is going to be in demand; and will thrive with the advent of AI, robotics, automation and other digital technologies.

So, who is a Systems integrator?

A systems integrator (or system integrator) is a person or company that specializes in bringing together component subsystems into a whole and ensuring that those subsystems function together, a practice known as system integration. Systems integrator - Wikipedia

Why are they going to be in demand?

AI, ML, Analytics, Robotics, Robotic Process Automation (RPA) and other automation, blockchain and other emerging digital technologies don’t operate in isolation. To deliver innovative solutions and business processes, they need to be integrated together and operate with existing processes and systems either in the enterprise or across enterprises.

A system integration engineer (or Enterprise Architect) needs a broad range of skills and is likely to be defined by a breadth of knowledge rather than a depth of knowledge. These skills are likely to include software, systems and enterprise architecture, software and hardware engineering, interface protocols, and general problem solving skills.

People with a good grounding of technology and business processes who can customize, configure and integrate such emerging technologies and bring together people with depth of individual technologies are going to be in demand.