Bengaluru, 25th November 2024: “Karnataka stands as a beacon of innovation, recognized globally for its dynamic ecosystem of research and development, housing the highest number of R&D centers in India. With a focus on skill development, the state is equipping its workforce with cutting-edge expertise in Business Intelligence (BI), Artificial Intelligence (AI), and emerging technologies, solidifying its position as a leader in the global innovation landscape.” said Dr. S. Selvakumar, IAS Principal Secretary, Commerce and Industry Department, Government of Karnataka at the Global Summit on business resilience and risk mitigation organised by ASSOCHAM.
“As a leading hub for technological advancement, the state is driving electronic design and fostering ease of doing business, making it a preferred destination for transformative industries. Big Data and AI are revolutionizing decision-making, empowering industries to adopt agile business models that are not merely reactive to crises but proactive in anticipating challenges. This forward-thinking approach underscores the shift from response to preparedness, enabling resilience at its core. Karnataka exemplifies this vision, where government and corporate sectors collaborate to foster an innovation-driven, resilient economy. By leveraging the state’s vibrant ecosystem, industries are poised for sustainable growth, blending technological advancement with strategic foresight to build a future-ready business landscape.” He added.
CA Dr. Ashok Haldia, Chairman, ASSOCHAM National Task Force for Accounting Standards, Sustainability Accounting and Integrated Financial Reporting in his address at the summit, said, “India’s business ecosystem and policy landscape are undergoing significant transformation, driven by innovation and adaptive governance. Over the last two decades, the business cycle in India has dramatically evolved from a 60-year span to just 20 years. As technology continues to evolve, businesses face a rapidly changing landscape, which presents both challenges and opportunities. To thrive in this environment, companies need to be more anticipative rather than just responsive. Artificial Intelligence (AI) can play a crucial role in this process. The successful integration of AI requires not just technical adoption but also cultural transformation and conscious leadership can guide organizations in making responsible and forward-thinking decisions while harnessing the power of AI.”
Delivering the keynote address, Mr. Gavan Ord Business Investment and International Lead for Policy & Advocacy, CPA Australia said, “This summit presents a fantastic opportunity for knowledge sharing and inspiring aspirants toward accounting as a profession. India is uniquely positioned to lead in technology adoption, as evidenced by its global leadership in financial payments. However, the nation also faces significant challenges, being among those at the highest risk of cyber threats. This creates a critical opportunity for businesses to adopt robust strategies underpinned by advanced cybersecurity technologies. The rapid advancement of technology not only poses risks but also opens pathways for businesses to innovate, adapt, and thrive in an increasingly digital economy.”
Mr. S Sampathraman, Chairman and Managing Director, DPK Engineers Pvt. Ltd. and Past Chairman, Karnataka State Development Council said, “Business resilience is not just about weathering challenges but adapting to them and transforming with time. It is the ability to turn obstacles into opportunities and emerge stronger, more innovative, and future-ready. Technology plays a pivotal role in this journey, enabling smarter risk mitigation strategies, fostering agility, and empowering businesses to navigate uncertainty with confidence.”