Is advancement of technology driving business growth, or are the growing needs of businesses driving technology advancements?
It works both ways actually. A company that is technology savvy or integrates technology also drives advancements in technology. Businesses can take extreme stands. For a company that has never absorbed technology, even a current technology looks futuristic. On the other hand, there are companies that are willing to experiment with state-of-the-art technologies. The second type will partner technology companies and drive advancements in technology. But what is the level of technology penetration today? It varies depending on geography. In the US, technology deployment is higher. If you take a specific technology such as wireless, Scandinavia scores high. Similarly, in the case of Internet infrastructure, countries like South Korea and Singapore have high bandwidth. The level also depends on the kind of business you talk about. For instance, technology penetration would be high in the banking segment, but not so high in retail. In India, there is very low penetration. It is almost non-e
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