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With the fast evolving Internet, what is the likely economic impact on your business?

The automation of Information processing services.

That automation is used by companies, for example in supply chains, and that affects efficiency. It is a major driver of productivity and it takes error, cost and time out of the systems. It shortens global supply chains by a factor of three to five. So that’s one very big effect.

The cost of finding things and doing transactions has crashed.

Earlier, researchers would spend maybe 70 percent of his time looking for data, 30 percent analyzing it. Now it is probably the other way round. Anyone who sells anything, they know that people are much more knowledgeable about what they are buying, they can compare. So the effect on the information structure of markets is quite dramatic. As buyers become smarter, businesses cannot afford to left behind.

The Internet makes Human Resources more accessible.

Outsourcing story is the rage now. That’s the trend in services industry, and the Indian IT business process outsourcing is the case in point. It is about the collapsing of the boundaries of the labour market in certain sectors. It is about new collaborations being possible. It is about finding and using resources whose cost in the past was simply too high. Essentially, the human resource climate has changed and that may be the biggest effect in the long run.

Find out how we can help you make sense of these