Digital To Developed India: New Technologies To Reduce Costs By 20 Per Cent In The Infrastructure Sector, Says World Economic Forum 

World Economic Forum, has stated that though there might be a minimal increase in upfront costs of new technology adoption in infrastructure space, it will still lead to an average life-cycle savings of 20 per cent on total costs, reports Financial Express.

It noted that the population of the world’s urban areas is increasing by 2 lakh people per day, all of whom will need affordable housing as well as social, transportation and utility infrastructure. Thus, the importance of E&C (Engineering & Construction) sector cannot be overstated.

New and improved technologies like Virtual reality (VR) and Augmented Reality (AR) have the potential to enable government officials to digitally tour in-progress roads and highways projects.

Robots could facilitate construction tasks such as demolitions, the laying of bricks, and excavations. Blockchain, a decentralised ledger system, could revolutionise land records registration, thus massively solving India’s land woes.

Also, any savings in project costs will have ripple effects on other sectors. It will also facilitate decongestion in cities, lower air pollution levels and overall better quality of life.

Many organisations in India are waking up to the immense possibilities of technology. Indian Railways is planning to develop 200 applications for travellers, employees, and other stakeholders to increase transparency and enhance the user experience.

In a Deloitte survey of 1,200 government officials from more than 70 countries, 78 per cent said digital capabilities allow their employees to work better with citizens. However, many government agencies are still extra-cautious in adopting new technologies.

Nevertheless, technological solutions are picking up fast pace in India with the availability of the affordable internet, adequate telecom infrastructure and increasing digital literacy.