The Personal Data Protection Bill, 2008, and a report were submitted by a committee led by former judge BN Srikrishna recently. The report, titled “A Free and Fair Digital Economy: Protecting Privacy, Empowering Indians”, has been awaited for its implications on data handling and processing practices by government departments and companies both Indian and foreign. The proposed bill makes individual consent the centre piece of data sharing, awards rights to users, imposes obligations on all those entities, including the State, which determine purpose and means of data processing. It also lays out provisions on data storage, making it mandatory for a copy of personal data to be stored in India and called for amendments to other laws, including the Right to Information. Though the bill does not mention it directly the report also suggests changes to the Aadhaar Act.
As per a recent NASSCOM report, around 1.4 lakh jobs are vacant in the Artificial Intelligence (AI) and Big Data Analytics segment across various sectors in India out of the total demand of 5.1 lakh employees. Of the total demand, 3.7 lakh jobs are filled, it said. By 2021 the employee deficit would increase to 2.3 lakh, as the total demand goes up to around 8 lakh employees.
Global Hadoop Big Data Analytics Market is expected to grow at a CAGR of +41% during the forecast period 2018-2023. The increasing amount of structured and unstructured data and the growing demand for big data analysis are some of the key factors that drive the growth of the Hadoop Big Data Analytics market. Technological advances have led to the required storage capacity and led to the growth of the Hadoop Big Data Analytics Market.
As per a report by BCG, Digital lending to become $1 tn opportunity in India over next 5 years. The report provides insights on the decision making journey of the Indian loan seeker and lists the imperatives for industry participants in the lending ecosystem to capitalise on this opportunity. The report elaborates the growth opportunities in the Indian retail lending market and digital lending globally. It provides insights on the decision making journey of Indian loan seekers and lists imperatives for industry participants in the lending ecosystem to capitalise on this opportunity. The four fundamental drivers that pushed the space are internet giants that changed the way consumers behave, rapid growth in technological advances including the proliferation of smartphones and consequent increase in the consumption of data. Also the digital market lending prospered under supportive regulatory conditions across the globe.