Disrupt or be Disrupted: Innovation’s Call to Action at FRC Day 5
In the relentless pursuit of progress, humanity stands at the crossroads of innovation and sustainability. Technology continues to reshape the business landscape, and the imperative to invent, adapt, and thrive has become more pressing. The future of industry hangs in the balance, beckoning leaders to redefine entrepreneurship, technological advancement, and social responsibility.
Against this backdrop, the fifth day of FIIB’s Research Conference convened under the Center for Innovation, Entrepreneurship & Technology (CIET), posing a profound question: What does it mean to build a better future through innovation? The quest for answers began with a clarion call to redefine thought leadership, harnessing the transformative power of technology to forge sustainable, inclusive, and visionary solutions that will sustain business and society alike. The era of personalised connections has dawned, and companies that fail to harness its power will be left behind.
A session titled “Investing for a Better Future: Building Innovative, Sustainable, and Inclusive Technologies,” featured thought leaders who came prepared to challenge the audience’s thinking. Professor Sanjit Roy, from Edith Cowan University in Australia, and Ramendra Verma, Partner at Grant Thornton Bharat, painted a picture of the future in broad strokes—yet filled with practical insights.
Professor Roy, whose expertise lies at the intersection of service science and marketing, was quick to hone in on one of the most disruptive forces of our time: artificial intelligence. The way he framed it, AI isn’t just a tool—it’s set to redefine the very heart of customer relationships. “Technology,” he emphasised, “is now woven into the fabric of our daily lives. AI will soon be the engine driving relationship marketing.” His argument was simple: companies that understand the power of AI to analyse vast data sets, tailor messaging, and sense customer sentiment will thrive. Those that don’t will become relics of a bygone era.
Innovation’s potential extends far beyond the corporate world. Government-led initiatives too are a powerful catalyst for innovation. Mr. Ramendra Verma, with his decades of experience working on government-backed initiatives, took the conversation a step further. He highlighted India’s massive strides in technological innovation, citing the biometric-based AADHAAR system as a monumental achievement. But his message was clear—innovation needs to be more than just impressive; it needs to solve real problems. “The lifecycle of products is getting shorter,” he noted, with a sense of urgency. “To stay relevant, businesses must continually disrupt themselves, integrating sustainability and the fight against climate change into their core.”
Amid this intellectual ferment, researchers and innovators gathered to share their proposals and solutions. A panel discussion on how to measure and maximise the impact of technology and innovation ecosystems brought together voices from across the globe.
From Professor Ravinder Rena, Professor of Economics at Durban Institute of Technology, to American media entrepreneur Jeff Frick, the diversely qualified panel underscored the importance of building ecosystems that foster innovation, but also keep it on track, ensuring that it benefits society at large.
The Ideation Bootcamp that followed felt like a fitting extension of these big ideas. Researchers presented their visions for the future—whether it was reimagining the travel industry through the metaverse or using augmented reality to reshape retail. The conversations were speculative but grounded, exploring how emerging technologies could reshape entire industries in real, tangible ways.
And just when attendees thought the day had peaked, it was time for ‘Speed Dating with Editors,’ where researchers had the chance to receive candid, invaluable feedback from editorial experts like Dr. Jacqueline Eastman and Dr. Ajay Manrai. It was a moment of refining and elevating the very research that had dominated the day.
In a world that often feels overwhelmed by the sheer pace of change, FIIB’s Research Conference was a reminder that with the right ideas and a commitment to innovation, the future doesn’t have to be daunting—it can be an opportunity. The fifth day was a microcosm of that belief, showing that business, technology, and innovation are not just interconnected—they are inseparable.
As the world continues to evolve at breakneck speed, one fact persists: those who innovate will shape the future. Want to explore more about our Centers of Excellence? Click here to discover.