India – Becoming a Knowledge Super Power
India has been moving fast on the value chain in providing business services to the world. Starting from Information Technology Outsourcing Services (ITO) and Business Process Outsourcing Services (BPO), we now have moved on to providing Knowledge Process Outsourcing Services (KPO).
In 2005, ‘New Scientist’ did an India special highlighting that India would be the next knowledge superpower. It highlighted ‘Some of the biggest names in IT (Information Technology) and Business are heading towards India and Bangalore once more, but now it’s the brightest minds they seek – not cheap labour’.
India has been the back office of many banks. It was the powerhouse for labor-intensive, often tedious programming. But that was past. Now many fortune 500 companies have their R&D labs and base in India. High tech companies are looking forward to inventor here for ideas that can change the world. There are many organizations which provide high end research services to global customers.
So India has been moving from Cost Driven Services (CDS) to Knowledge Enabled Services. That is what I called as moving up in the value chain.
ITO consisted of Application Development, Maintenance and Support. BPO included Customer Interaction Services and Process outsourcing in Insurance, Finance and Accounting and Human Resource Management and host of other areas. KPO has a range of service possibilities that include Logistics and Supply Chain Management, Engineering, Legal and Intellectual Property, Publishing, Contract Research, and R&D and Innovation.
The central theme of Knowledge Services is to create value for the client by providing domain expertise rather than process expertise. It is knowledge driven as against process driven. BPO focuses on executing standardized, routine processes, where as KPO / KES focuses on domain expertise, analytical skills, judgment and decisions making.
Knowledge Service as an Industry is projected to grow at 45% for next few years. It is estimated that Knowledge Service would be $20 billion business by 2010 and a whooping 70% is expected to be India’s share. There would be more than 250,000 knowledge professionals by 2010.
So what does it translate for every one? Simply put it is unlimited opportunities.
Knowledge enabled services are currently provided in the following areas:
- Engineering
- Design
- Biotechnology and Pharmaceuticals
- Animation
- Gaming Content Creation
- Learning Solutions
- Legal and Intellectual Property Services
- Publication Research and Services
- Financial Data and Market Research
Over next few years many new segments are likely to emerge. Successful application of Knowledge Services is only limited by imagination.
For those choosing a career in knowledge services, it provides opportunities to work with state of the art technology, exposure to a broader range of science and technology and business domains, great learning in analysis, technical and scientific reasoning, legal reasoning , to improve technical writing and communication skills.
For business, it provides exciting new areas to explore.
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Muthukumar Ramalingam |
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Dextrasys Technologies www.dextrasys.com |