Excellence through Innovation Embracing Emerging Technologies for Quantum Growth

1. Excellence through Innovation Embracing Emerging Technologies for Quantum Growth Devdutta B Modak Managing Director Spectrum Business Support Ltd November 6, 2008

2. Agenda • Understanding what we’re looking for! • Examples of Emerging Technologies • Learnings and Opportunities • Strengths, Weaknesses, Threats • Suggestions for Professionals • Suggestions for the ICSI

3. Understanding • Excellence • Innovation • Embracing • Emerging Technologies • Quantum Growth • Change • Context

4. Excellence & Innovation • Human best ! Not to confuse excellence with perfection – excellence is humanly possible. Perfection is Godhood. • Innovation is ideating to create something new or re-organising old stuff in a new way. • Ideas are like rabbits.You get a couple and learn how to handle them, and pretty soon you have a dozen. • John Steinbeck

5. Emerging Technology • DEFINITION: One whose science, basic principles and theory are understood, and at least some useful applications are recognized. However, the potential is mostly unfulfilled as evidenced by a lack of significant products, possibly by the lack of imminent or present market demand. • This is Not what we’re calling Emerging Technology in today’s session. Here and now, we’re going to discuss technology which is established but relatively unknown.

6. Quantum Growth • Not Louis Navellier’s newsletter • Not the usually ridiculed “Hindu rate of growth” – usually 2 to 5 % per annum. Nor can it be an increment over the previous period viz.,– “we grew 10% last year, so this year we should grow at least 12-14%.” • “Quantum Growth” is intended to convey – supernormal growth, not merely incremental growth!

7. Change and Context • There is a vast difference between the world economy of the National Convention of 2007 and 2008! The context itself has changed – change continues - the pace of change will accelerate – disruptive and breakneck speeds will be the norm • That’s the true genius of America: that America can change! – President-elect Barack Obama in his victory speech • We must BE the change we wish to see in the world – Mahatma Gandhi

8. People-powered Search • All digital information CANNOT be indexed, organized and understood algorithmically – i.e. using software alone! • The brainpower of ‘000s of Internet users can be harnessed for tasks beyond software – Human Intelligence Tasks = HITs • Humans beings are better than computers at big, information­intensive tasks viz., indexing the Web, or searching satellite photos for lost vessels, etc., so long as these big jobs are broken down into thousands of small ones - Internet Piecework - and distributed to willing workers.

9. Augmented Reality • Nokia Research Center, Finland ­ a smart mobile phone with a GPS sensor, a compass, and accelerometers – “Mobile Augmented Reality Applications”- will help you get where you're going and decide what to do once you're there. • Alternatively, image recognition and analysis – on the fly will help you do the same. • "The big missing link when I started was a small computer. Those small computers are now cell phones." Director of Columbia Univ Mobile Computing Lab, Dr Steven Feiner.

10. Offline Web Applications • Offline applications, using Web technologies like HTML and Flash, can take advantage of user’s computing resources as well as those of the Internet. They recognise both the benefits and limits of the move from desktop to Web. • Adobe Integrated Runtime (AIR) releasing this year. eBay, AOL, and Anthropologie have built applications using early versions of the software. Google following with “Gears”. • The web browser was made for "the Web of pages”. There is a need for an interface more appropriate to the Web of – offline & online – software that people use today.

11. Reality Mining • Cell phones now collect significant data on personal behaviour. Techniques being developed to effectively analyse such information. • All measurement devices are ignorant of things that matter most. Web pages & phone numbers not enough. “We live to interact with other people. Now, with reality mining, you can see how that happens ... it's an interesting God's-eye view." Sandy Pentland, MIT

12. Modeling Surprise • Surprise modeling combines data mining and machine learning to help people do a better job of anticipating and coping with unusual events. • Modeling the “human cognitive process” • “…look at the kinds of things that have surprised us in the past and then model the kinds of things that may surprise us in the future.” Eric Horvitz, Adaptive Systems & Interactions group, Microsoft

13. Jurix • Several ‘00 Man-years Law Information Data Capture effort since 1990. Vertical (subject-wise) and Horizontal (court-wise) Modules with caselaw from Tribunals through High Courts and the Supreme Court, since 1950. Also contains statutes, rules & regulations, notifications & circulars.. 300,000+ Judgments, 1000+ statutes, 80,000+ notifications, 2+ Million pages, containing 5+ GB data. At www.ejurix.com or Grand Jurix on CDs/DVDs with weekly web-downloadable updates. Implementable on stand-alone and networked machines. • Eastern Book Co Vs D B Modak and Another

14. Legistix • All Statutory (and Governance) filings documentation can be tagged and assigned to various users of the system for suitable action, with alarms and alerts to ensure that filing deadlines are adhered to. Audit trails enable the system to track user level performance management. • Compliance and Governance management need multi departmental interaction. Data can be sourced from multiple locations. • A highly configurable work flow management system allows for creating users across the organization and assigning security and propriety based rights and privileges.

15. Datafix - Ixsight • Results – Sales, profits, size, shareholder wealth, long-term survival and growth • Caused by – Great (effective and efficient) decisions • Taken by – Decision-makers and executors • Aided by – Information Systems • Founded on – Quality Data collection, acquisition and maintenance • Getting there – with Ixsight solutions

16. Ixsight Solutions • Scrubbix – parse from different sources, cleanse, standardise, and enhance data of say Shareholder masters • DeDuplix – locate unique shareholders / bond-holders and repeat investors and households who’re investing with your company. Generate millions in savings from mundane sources, viz., dividend / interest warrants, stationery and postage. • Profilix – going beyond identifying, to geo-mapping, profiling to understand marketing for raising more funds, etc. Increase income in millions or more.

17. Learnings • Not necessary to pioneer – 2nd or 3rd is fine! • Start only with clearly adequate preparation and funding support • Choose your role – entrepreneuring or intrapreneuring – and stay with it • Start with a team – going it alone is only worth doing when you’re dating • Patience and perseverance are especially important when you’re doing business in India

18. Opportunities • Leadership • Data Quality & Ethics Custodianship • Client Collaborator Combination • Value creation rather than Cost cutting • Long term rather than Short term • Emanating from present role as Head Statutory & Governance Compliance

19. Strengths & Weaknesses Strengths • Familiarity with Law • Comfort with existing management Weaknesses • Small Size of firm • Lack of International connections • Lack of USP

20. Threats Other Professionals - • Chartered Accountants • Lawyers • Consultants Other Organised Entities - • Credit Rating Agencies • Other local and international entities

21. Company Secretaries • Get InfoTech-adept – chiefly with the Web • Acquire tools (computers, modems & software) and skills (training and habit) • Create large organizations by partnering or forming limited liability companies • Create expertise in areas of practice that cannot be affected by lack of size • Establish mutual benefit alliances

22. The ICSI • Move swiftly towards creating an environment where members can partner other Professionals, with certain obvious provisos • Prepare to radically redefine the Profession • Reduce/eliminate, dependence on Statutory support for existence of profession - else, prepare to face redundancy & extinction !

23. Final Thoughts • The greatest difficulty lies not in persuading people to accept new ideas, but in persuading them to abandon old ones ! • John Maynard Keynes • What you have to do and the way you have to do it is incredibly simple. Whether you are willing to do it is another matter. • Peter Drucker • Kelyane Hoat Aahe Re Aadhi Kelechi Pahije! • Samarth Ramdas Swami

24. All the Best ! dbmodak@sbsworld.com