FedEx Express, the world’s largest express transportation company, announced the findings of its ‘Future is Now’ study that offers insights into India’s readiness to embrace the future.
According to the study, which surveyed more than 4,000 respondents in 18 cities, 79% stated that India was prioritising technology like Artificial Intelligence, the Internet of Things, and Blockchain to deliver a future-ready world. Approximately 83% believed technology they’d seen in science fiction movies is either already a part of their daily lives, or likely to be in the next few years.
With the trend of technology-led change likely to continue, specific industries were identified as major drivers in shaping the cities of the future, with healthcare (35%), infrastructure and logistics (21%), and banking and finance (18%) believed to be leading the change.
India is at the cusp of change, with the pandemic accelerating the country’s digital transformation. From healthcare to education, banking to manufacturing, technology is transforming every sector, giving rise to a future full of possibilities.
The ‘Future is Now’ study focused on three main views: being dynamic, how India is open to experimentation and innovation, and to what degree the country is sustainability conscious. The findings indicated that future success will likely rely on businesses structuring their approach around these three outlooks.
Future is dynamic
Regardless of industry, companies must monitor the pulse of their consumers, anticipate their needs, and stay one step ahead of their rapidly evolving expectations. The pandemic accelerated change in almost every aspect of life, from how we live and work, to how businesses interact with their customers, and how customers purchase products and services.
The FedEx study shows that businesses are already working to keep pace with this change, with about 87% respondents stating that over the past year, companies demonstrated their ability to understand ‘What’s next?’ and present possible solutions.
Openness to experimentation is indispensable to a future-ready mindset
India has jumped ranks in the Global Innovation Index and is home to a thriving start-up ecosystem that propels transformation with new ideas and solutions.
In an increasingly dynamic environment, success for businesses hinges upon pushing the envelope and fostering a culture of experiment-led innovation. A majority of 91% of those polled in the FedEx survey, believe that organisations, communities, or even individuals who experiment and adopt change are better equipped to navigate through future challenges.
Sustainable mindset isn’t a choice, but rather, a business imperative for success
Consumers today are growing more conscious of the impact their choices have on the world around them – whether it pertains to the environment or their communities. Even their purchasing decisions are increasingly influenced by their perception of an organisation being sustainable and responsible. According to the FedEx study, three quarters (75%) agreed that individuals, communities, etc. that have a ‘futuristic’ outlook are more environmentally conscious. In fact, 71% of the respondents claimed that, as decision-makers in a futuristic business, sustainability would be crucial and their top priority.
The response from the study participants is clear: organisations must continue to re-evaluate and revamp their sustainability strategies to help ensure relevance to their customers and resilience for the long-term.
As the world keeps evolving, technology and trends will likely drive changes in lifestyle, behaviors and attitude. For businesses and individuals, embracing a future that offers endless possibilities and having a mindset that is dynamic, experimental, and sustainable will be imperative to staying one step ahead of the curve.
Mohamad Sayegh, Vice President- India Operations for FedEx Express said, “At FedEx we have a legacy of innovation spanning several decades, and we constantly innovate to create solutions for the world in responsible and resourceful ways.”
“With the shift towards digital transformation accelerating, innovations and cutting-edge technologies with a focus on sustainability are poised to drive the future of business. Further progress in Blockchain, IoT, Automation, and Robotics is not only going to lead the way for the logistics industry, but all industries in the future.”