Digital intervention businesses and government refers to a way where businesses and government adopt technology platforms for physical ones, in order to improve processes and connect to the stakeholders.

The digital intervention, rather revolution are predicted to enter all the realms of the governance mechanism and the lives on individual citizens, i.e. the consumers for businesses. Digital instruments of all shapes and sizes, including wearables will keep everyone connected and informed to a large extent. The digitization revolutionizes every business and government objectives, right from education to the health sector. By 2020, if not a fully realized dream, it won’t be far fetched as well, where cashless transactions become the norm. Cloud technology etc. lead to easy collaboration among masses and thus economic problem solving to intensive business and government problems. By 2020, data in the Indian market will be a tradable asset and information a true form of currency.

In the current times, the trust in govt. among Indian citizens is at a high point, at least considering the last decade. The expectation among the citizens from the government is rising and this is the best time for the government to cover the gap between the expectations and the results delivered. With the help of digital intervention, the government is moving towards becoming an enabler and not the solution provider. The government, with its initiatives like Jan Dhan Yojana, KYC, Demonetization is providing a platform to the businesses to shape the economy for the coming years, where businesses as well as the government have data about every citizen and custom solutions can be provided to them. The result is a big boost in private-public partnership, which motivates the growth of businesses pursuing social as well as financial goals. In fact, with digital intervention, the government can now co-create solutions with the citizens, for e.g. using crowdsourcing. The government is expected to become more data smart and thus employ analytics to focus on action, rather then reaction or remediation. Though in such a short time, the data smart govt. might not come up with perfect solutions for the economy and citizens, but it can come up with more rational and fine-tuned solutions. The digital intervention opens up many doors for government funding such as in the form of taxes, penalties and fees for the services.

The shift in the way, the government will operate then will have implications for various sectors, concerning the government the most. The digitization in the education sector is already in play, with a few schools in southern India becoming smart schools. With this type of intervention, in the long run India will have a more skilled and focused human resources at its disposal. Similarly, for the energy industry, smarted digitized devices will lead to smarter energy choices and make the citizens more conscious about energy saving and environment protection. In the health sector, with smarted health tracking devices coming up, the health service providers will shift focus to wellness and prevention, in order to compete against competitors. In fact, not only this, but law and order (i.e. the judicial system) will also benefit by using new methods and technologies to ensure public safety and better redressal of offences. In the transportation sector, mobile enabled services like carpooling, ridesharing etc. will help tackle traffic congestion on the nations roads giving them a longer life. By 2020, the government will embrace the new technologies for better and efficient outcomes and a stronger and stable economy. The Digital India initiative, by the current government, by 202, will reach the remotest parts of the nation, giving them access to government services and thus creating millions of jobs.

Digitization of businesses is fundamentally changing the way business was done in our nation. With data as an accessory, digitization is continuously disrupting the business models, services, products and experiences. Everything, including the way consumers consumed, accessed, communicated, and is undergoing a change, leaving no sector untouched. The digital intervention has led to start ups popping up overnight, which in turn has made the existing ones pull up the socks to gain the agility to compete with them. This makes the economy healthily competitive and more efficient and effective. Now it totally depends on the major players in the economy and their reaction, because this will impact every sector and every business’ survival in the long run. Every business, in the current times is evaluating the opportunities and risks of becoming digital, and they know that the tidal wave of digital change is coming, with a strong thrust from the government’s side as well. It is the choice of the business to be among the early adopters or among the ones forced to follow. Digital transformation is already having a profound impact on the economy. Businesses are experiencing core changes like shift from selling products to becoming a solution provider, emergence of new type of business models, elimination in the number of middlemen or distribution channels, better customer experiences etc.

Digital intervention is not only redefining the businesses within an industry, but also redefining the industrial boundaries. It has led to seamless integration between diverse industries, leading to competition as well as co-operation. For example, an automobile manufacturer, now not only focuses on manufacturing the automobile, but also takes into consideration other collaborators like telecom industries, equipment manufacturers, insurance providers etc. to create a connected ecosystem.

To evaluate the impact of digital intervention, we have tried to analyze three large important sectors on the basis of their contribution to economy and the relative impact of digital intervention in these sectors, i.e. automotive, consumer goods and retail, BFSI.

Automotive sector is at the nib of digitization. Rapid change in consumer behavior, need for more features, new markets etc. are driving this. In order to remain competitive and address all the demands, the industry has embraced digital transformation, and it will play a key role in shaping this industry’s future. Enterprise operations, sales and marketing, product innovation and supply chain and logistics management are the key areas, which will be impacted by digitization.

Though in the nascent stage, digitization is bringing a revolution in consumer products and retail sector. The consumers have started spending more time on the web and the organizations have started spending more time on building omni channel marketing and supply chain capabilities. Consumers are looking for interactive experiences and “anytime, anywhere” solutions to growing needs.

Change in customer expectations, increase in competition, pressure from regulatory bodies and government, challenging macroeconomic conditions are all forcing the BFSIs to review and reconsider their practices. Digitization is the most important opportunity for this sector. This will not only affect customer relationships, risk management and compliance, transaction management, cost optimization, but will also restructure the industry.

Digital intervention in businesses will change the economy in a way that will have enormous opportunities for new skills and capabilities to disrupt value chains and compelling the government to rethink the impact of every policy being proposed. The economy by 2020 will have smarter citizens (consumers), increased global impact, new business and governance models, new channels of benefit distribution, new ways of operating, constant change and innovation, lower barriers for entry and confidence in the digital future.