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The Rediff Business Special/Azim Hasham Premji

The power of the mind in the Information Age

Two decades back, when we at Wipro decided to enter information technology, we came to the IISc (Indian Institute of Science) to design our first computer, the Wipro Series 86. The minicomputer was technologically ahead of what competition offered and helped us to become a leader in a completely uncharted area.

We have now come back to the IISc for help in equipping our technical managers with the latest in technology. Our long relationship has a special meaning for me, because it is here at the IISc where our dreams took a concrete shape.

Let me begin with a confession. I am not a technologist but an entrepreneur in the area of technology. As an entrepreneur, however, I have had a ringside view of the vast, exciting changes that have swept across the face of information technology.

I remember, when we entered the field, there was a lag of at least five years between what was offered in India and what was available as state-of-the-art technology in the US. That gap no longer exists, whether it is in terms of processors or in software.

The personal computer is now a common sight in small offices, schools and many homes. The Internet has made it possible to remain on top of the research going on worldwide and to participate interactively with like-minded people.

Earlier, one had to go to a bookshop to place an order for a book published overseas. It took around six weeks for the book to arrive. Now, you can visit leading bookselling Websites that list a million titles, and if you have a global credit card, you can order any book you want and it will be shipped directly to you.

India has become an integral part of the electronic global village.

I see even more excitement ahead. I cannot help feeling a little envious of you (students of the IISc) who are just beginning your journey. What lies ahead is an unprecedented opportunity.

First, let me share with you the enormity of the opportunity. Then, I would like to share with you what I think you can do to prepare yourself for it.

The biggest opportunity for you and our nation is that the nature of critical resources for an organisation has changed. From material and capital resources that characterised the manufacturing economy, the critical resource in the information age is the power of the mind.

In India, over the years, revenues from services would form a larger and larger share of the GDP (gross domestic product).

This is reflected in market sentiments. The fact that the market capitalisation of knowledge-intensive companies exceeds its physical assets many times over bears testimony to this. Information technology is a significant part of our export earnings. But we have not even scratched the surface.

Traditionally, our strength has been competitive pricing. This advantage is being eroded by other countries such as Mexico, Thailand, China and the CIS (Commonwealth of Independent States). They are even more competitive in their offering. But we as a nation have a superior strength. India can boast of possessing the largest pool of technical talent in the world. It is up to us to harness this talent to create a higher technological value that others cannot offer.

The breakdown of barriers, thanks to globalisation, has created enormous business opportunities across the globe for more sophisticated technology offerings that can improve the return to effort ratio significantly.

The institute (IISc) has helped you to build a strong foundation to equip yourself with leading edge technology knowledge. I would like to touch upon a few other competencies to help you to leverage on it and make the most of the opportunities in front of you:

• Accept the certainty of uncertainty. Things no longer happen in a linear, predictable manner. The awesome power of the Internet goes beyond the wildest dreams of science fiction writers, who did their best to predict the future just a few decades ago. It helps Levi Strauss to mass customise your jeans from a central factory. The Internet not only helps you to buy what you want but also helps you in comparing the various choices, so that you can get the best. The customer wants to choose, but does not want to go through the pain of choosing. The info-mediaries on the Web allow you to do just that. Information technology has changed every aspect of an organisation. If you want to be happy, look at the future with excitement and not anxiety.

• Use your imagination. Innovation comes from it. I do not mean incremental improvement which is possible through logical thinking but generating radically different ideas. This needs an inventive spirit and the courage to move out of the "comfort zone". Sometimes experience creates fixed patterns that come in the way of imagination. Look at everything afresh.

• Develop the art of influencing other team-members. Some of the best technologists tend to be loners. The world of tomorrow belongs to teams because of the sheer velocity of change which a single individual cannot cope with. You need to carry others along and influence them. This requires flexible thinking and openness. The best influencers are those who show willingness to be influenced.

• Learn to persist in the face of bitter disappointments. This is the key to success. Many a good idea has been lost along the way because it was not pushed enough. If you feel strongly convinced about the strength of your idea, do not give up. History is replete with examples of scientists who did not waver in the face of opposition and triumphed. Take your ideas and yourself seriously and you will be able to see the fruits of your efforts. Persist long enough and do not allow self-doubt to come in your way.

• Keep learning continuously. Learning goes beyond education and training. Learning does not end with college. It is just the starting point. As you apply knowledge, you begin to see the relevance of learning. This creates greater enthusiasm to learn even more.

• Zest makes the difference. If you look at a child you will understand the wonder and amazement with which it explores the environment. Develop that insatiable curiosity that makes everything simple, new and amazing. Your contribution and your life will acquire a new meaning.

• Play to win. In addition to playing to win, you have a more important obligation. Compete to the depth, breadth and height your sail can reach. Ultimately, your greatest competition is yourself.

I have shared a few of my thoughts. I hope it will to help you to make a success of your life. You owe it to yourself to give your best to the nation, to your profession and to your own potential.

Azim Premji, chairman, Wipro Corporation, is the richest Indian, according to Forbes magazine. The article is based on his keynote address on October 12 at Showcase '99, organised by the Department of Computer Science and Automation, the Indian Institute of Science, Bangalore.

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