India has seen a rise in interest in quantum computing eventually making the nation a talent hotspot for quantum computing. The fascinating new technology of quantum computing will help to change the world of the future by giving us an advantage and opening us to a world of opportunities. Comparing modern conventional computing systems to quantum computing reveals how fundamentally different these two methods are for information processing. Quantum computers use quantum bits to perform calculations, unlike today’s conventional computers, which store information in binary 0 and 1 states. Unlike a bit, which can only be a 0 or 1, a qubit can be in a variety of states, allowing for exponentially bigger calculations and the possibility to solve complicated problems that are beyond the power of even the most advanced classical supercomputers.
The Quantum Mission
The Indian government is now preparing to launch the long-awaited Rs 8,000 crore Quantum Mission to increase its capabilities in the rapidly expanding field of quantum computers, two years after it was first announced. The Department of Science and Technology will be in charge of the National Mission on Quantum Technologies & Applications (NM-QTA). The mission will focus on developing knowledge in the quantum frontiers, which will be crucial for national security, as well as the development of new materials, quantum sensors, quantum computers, quantum chemistry, and quantum communication.
Future of Quantum Computing
Quantum computing is another technology that has sparked a global race among nations and businesses to enter and take the lead in the rapidly expanding artificial intelligence sector. Quantum computing is expected to revolutionise everything for the globe, notably in terms of national security and giving an “unhackable” channel of communication, with a computing capability that exceeds that of the most powerful computers already in use. As a result, it is urgent to simultaneously increase quantum computational capacity, learn how to construct and operate a quantum computer of reasonable size and cost and continue research into the realisation of various practical applications.
We live at a time that has the potential to expand our realities through the fusion of the actual and virtual worlds, which will eventually alter the ways we work, play, and live. The foundations of extended reality (XR) are immersive technologies, augmented reality (AR), and virtual reality (VR). It offers consumers connections and engagement on a high level through captivating and inspiring experiences. Extended Reality, in its broadest sense, refers to all the settings developed for interactivity between humans and machines that merge the actual and virtual worlds produced by wearable technology and computer technology. Since each of the underlying technologies is a requirement for Extended Reality (XR), breakthroughs that result in modifications also result in new XR experiences. Extended reality (XR) technology is a quickly emerging trend in India. Numerous industries, including healthcare, hospitality, education, and retail, are feeling the effects of these technologies, which include augmented reality (AR), virtual reality (VR), and mixed reality (MR). There is little doubt that XR might usher in greater labour safety, improved customer experiences, and advanced learning.
Benefits of Extended Reality (XR)
There are many benefits to extended reality. Specifically:
- It improves and strengthens ties with customers.
- It results in the development of engaging digital goods and services with significant revenue possibilities.
- It improves productivity and performance from an employee standpoint.
- The individual can remotely attend it extremely effectively and data access is more frictionless.
- Extended Reality gives its consumers a more realistic vision of the issue at hand, enhancing their ability to comprehend it.
A note of caution
Given that such immersive technologies make use of sensitive data that may be exploited, it could also make cyberattacks and privacy breaches worse. Policymakers, entrepreneurs, and behavioural experts must create ecosystems that offer a safe infrastructure and potent incentives to promote innovation and wider adoption if they want to see XR develop responsibly in India.
India’s experience with cryptocurrencies has not been without its share of ups and downs. The virtual asset has experienced several dangers, from a prohibition to impending tight regulations. Despite such uncertainties, investments in unregulated digital assets, especially Bitcoin, have shown a startling rising tendency since 2020. According to data from several domestic cryptocurrency exchanges, between 1.5 and 2 crore Indians have invested in the asset class, reaching the $10 billion milestone in November of this year. Let’s look at the virtual asset’s journey in India so far.
Launch of cryptocurrencies in 2008
The journey of cryptocurrency started with the publication of a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008 by a pseudonymous developer Satoshi Nakamoto.
2013-2018: RBI Issues First Circular Regarding Cryptocurrencies
The Reserve Bank of India (RBI) released a circular in 2013 alerting consumers to the potential security-related dangers associated with using virtual currencies as crypto investments increased in India. Finally, by the end of 2017, the RBI and the finance ministry issued a warning stating clearly that virtual currencies are not a form of legal money.
#IndiaWantsCrypto in November 2018
Nischal Shetty, the founder of WazirX, launched the #IndiaWantsCrypto campaign on November 1st, 2018, ten years after Nakamoto’s article called for the favourable regulation of cryptocurrencies in India.
2021: Publication of the Crypto Bill
The Standing Committee on Finance came to the conclusion that cryptocurrencies should be regulated rather than outlawed after meeting with the Blockchain and Crypto Assets Council (BACC) and other cryptocurrency stakeholders in November 2021.
So far, So good!
Despite clarity surrounding the future of the unregulated digital asset, adoption of cryptocurrencies has accelerated significantly over the past two years, with India now serving as the largest investor. According to the existing signs, India will implement a strict regulatory framework to deal with cryptocurrencies. The government would probably treat cryptocurrency as an asset class rather than a form of money. The journey of cryptocurrency posts the parliamentary bill is yet to be unfolded.
In today’s digital era, huge volumes of data get created every minute. This data has the potential to help businesses boost their profits, uncover new possibilities, increase revenues, streamline processes, and improve customer satisfaction. Therefore, it is necessary to create technologies that can capture, store, and analyse large amounts of data to produce ideas that can be put to use. That’s where Big Data Analytics plays a key role. While it is revolutionising businesses all over the world, India, in particular, has witnessed a sharp uptick in innovation in Big Data Analytics. Indian businesses, be it healthcare, education, finance and so on.
For the Indian healthcare sector, big data has proven to be one of the greatest blessings. The advantages of big data technology and predictive analytics are being used by numerous hospitals, pharmaceutical businesses, and R&D facilities to support the best therapies for patients. Healthcare professionals have developed cancer treatments with the aid of data analytics.
Researchers and educators can now better identify student needs thanks to the use of big data in the field of education. Big data is being used by educational institutions to analyse student performances concerning the many tasks and assignments given to them.
India’s fintech market is expanding quickly. To make critical business choices and acquire a competitive advantage in the financial sector, Indian fintech companies significantly rely on big data analytics. It has facilitated banking and financial services and allowed finance corporations to reach out to rural areas of the nation.
The future of Big Data in India
The industrial ecosystem in India is evolving, and big data in India has a promising future. Big data is creating opportunities that weren’t even conceivable a few years ago. India has a growing need for data analytics services and thus the need for data scientists in the nation has increased. Big data has been adopted by several businesses in India, including e-commerce, manufacturing, and retail, to guarantee client happiness and industry expansion.