brand-comm held its fifth webinar in its brand-comm Connect Series here on Thursday. Despite being a working day, a significant number of people tuned in across various platforms to hear the eclectic panel discussing ‘How Are Businesses Donning An All-New Avatar‘.
With K Giriprakash, Associate Editor and Chief of Bureau at Business Line, moderating the webinar, it had an eminent panel made of C S Sudheer, Founder & CEO, IndianMoney.com, Sudhakar Rao, Director-Branding, ICFAI Group, and Rajesh B, Founder & CEO, SmarterBiz.
Speaking of the current situation where educational institutions are leveraging technology, Rao said, there would be three phases of adoption. In the first phase, it was about identifying the technology tools required for conducting the classes. In phase II, they would use white label learning manual system and phase II is seeing an open learning management system.
Rao said Phase III is still on. He added that the future would see a blended learning method where institutions would use both online and classroom teaching to optimise the imparting of the education. He believes, “The smartest will survive, not the fittest. The smartest alone would be able to wade through troubled waters. Those who have inherited a legacy system cannot survive.”
The Rs 7.5 trillion sector which caters to 37 crore students may be in for an overhaul, going by the words of Rao. “Subscriptions to edutech services have risen 3X,” he said.
Sudheer, who has been offering financial education for nearly a decade, had some incisive views to share. At this extraordinary time, “people have realised how little they need to live”. Also, he said people have realised the need to save money for the rainy day, a belief that’s come following the evaporating of the jobs and incomes overnight. He shared an insight on how people who had limited commitments have survived, while those with heavy commitments are unable to repay their loans.
He shared an interesting insight that though people were now earning less, they were saving more. IndianMoney.com that offers investor education now receives more enquiries on saving and investments..
Rajesh, while speaking of the current situation, said, “CoViD-19 will have an impact for 8-10 months.” But, he sees the logistics sector seeing a steep recovery. One development is that of the mainstreaming of the gig economy which has responded well to the crisis. The term has its origins in the sub-prime crisis of 2008 that saw many of those in the tech sector take to gig work. Now Karnataka, he said, has a policy for gig workers.
Among the sectors he sees surviving the crisis include e-commerce, computing, telcos, financial services and education.
The change in mindsets of the millennials is what he finds most striking. “About 30-40% of millennials want jobs, not careers. They have multiple skills and believe in self-learning. This is enabling gig as a prominent means.
The webinar brought to the fore that cross-learning, unlearning, relearning, pivoting at country and family level may be in. Since there’s the trend of the remote workspace, mobility-challenged workforce i.e. women will work remotely. This would lead to a better distribution of wealth.