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‘Internet platforms are more than just conversation builders’ – 35 quotes of the week on digital transformation

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week. This special series of quotes focuses on the increasing impact of digital media in India and around the world (see the previous post here). Share these 35 gems and insights with your colleagues and networks, and check back to the original articles for more insights.

Artificial intelligence will have as much if not more impact on our lives than even the internet. – Amit Somani, Prime Venture Partners

Biomarkers will change how the fitness and the healthcare industry works. – Mohit Kumar, Ultrahuman

Companies built around developer communities have proven to be immensely valuable, yet there is no good software for supporting this type of company building. – Des Traynor, Intercom

Cost-cutting is one of the major factors for startups to consider cloud accounting outsourcing. – Vikas Chadha, GI Outsourcing

APIs have quickly become the fundamental building blocks of software used by developers in every industry, in every country across the globe. – Jeff Horing, Insight Partners

Leveraging IoT to improve electricity distribution and bringing down grid failure rate by giving discoms insights right at the distribution level is cutting-edge work. – Anil Joshi, Unicorn India Ventures

Electrification technology is not just a means of making the vehicle clean; it’s a means of reimagining what a vehicle can be. – Bhavish Aggarwal, Ola

We live in a world of personalisation — where what we want to buy, eat, or watch is recommended to us by our apps. – Apoorva Ranjan Sharma, Venture Catalyst

Video bots are the solution to the ever-growing digital dependence of the world and have applications in virtually every area of business. – Jatin Solanki, Expertrons

We are in the beginning of a new world, where the content gatekeepers of yesterday will become irrelevant. – Deobrat Singh, CreatorStack

With the rapid growth of the global creator economy, creators are emerging as small businesses, in need of sustainable monetisation models. – Dinesh Katiyar, Accel

The best growth hacks aren’t siloed. Content works closely with design, UX, sales, and every other stakeholder. – Vaibhav Sisinty,

Payments is a thick slice of the entire fintech pie and has great potential of creativity and convenience. – Navneet Gupta, YPay

London is also home to 3,018 fintech companies, more fintechs than any other city globally. – Hemin Bharucha, London and Partners

The crypto space is a new one with several uncertainties. One year in crypto is three years in any other sector. – Sumit Gupta, CoinDCX

Another interesting factor of crypto volatility is that crypto markets trade tirelessly, without any stops. Traditional markets don’t. – Ritam Gupta, DeFi 11

The internet is a complicated place. These days, everything needs to be faster, secure, and reliable. – Michelle Zatlyn, Cloudflare

The efforts by the authorities to integrate drones in the supply-chain ecosystem is a major step towards creating a framework for efficient last-mile delivery. – Soumyadeep Mukherjee, Udaan

While it is not very easy to build a mechanism for products to be packaged well and delivered on time, dropshipping still remains the cheapest approach to retailing fashion online. – Ayush Agarwal, Mush

Small warehousing improves supply chain optimisation and replenishment of stock on the seller side while also offering a superior customer experience, making it a practice ecommerce players look forward to adopting. – Ankur Dayal, Primarc Pecan

Online marketplaces and B2C platforms have enabled MSMEs to further expand to new markets and serve new customers by putting them at par with products offered by large multinational companies. – Vijay K R, Deloitte India

In the era of agriculture 4.0, the demand for better market linkages and secure food trade is driving deeper penetration of technology in agricultural ecosystems. – Taranjeet Singh Bhamra, AgNext

Businesses understand that providing to-the-point, personalised assistance to the application users is the key to achieve digital transformation in office+remote work environment. – Prasanna Vaidya, Gyde

Due to poor demand predictability small manufacturers also struggle with inefficiency in inventory cost as well as an inefficiency in manufacturing overheads. – Rachit Garg, Yojak

Indian SaaS ecosystem can be worth a trillion dollars by 2030, which will be one of the biggest value creation opportunities that we are going to see in the decade ahead of us. – Noshir Kaka, McKinsey

Given that small businesses contribute 30 percent to India’s GDP, digital can help unlock massive growth opportunities for them, fuelling new business models out of India. – Archana Vohra, Facebook

For a country of 1.3 billion people, 100, 200, or 300 odd incubators won’t do. – Ashwini Vaishnaw, Minister for Electronics and IT

Today, around 40 percent of total MSME credit demand is still served by informal sources of credit. – Sunitha Ramaswamy, LetsVenture

There is a phenomenal growth in the D2C space with amazing new brands changing the consumer economy in India. – Ashwin Koorakula, Xpresslane

Almost 99 percent of institutes are not bothered about the careers of candidates. And the students are misled by career counsellors. – Nirpeksh Kumbhat, SkillEnable

Accessibility of high quality after-school learning has always been a hassle for parents and kids in India. – Nao Murakami, Incubate Fund India

In the last 10 years, there has been an exponential rise in the time spent by children passively consuming online content—which is extremely harmful to their growth. – Anshul Gupta, Yellow Class

The 2020s children have been born directly into the age of iPhones, Netflix, and Google. It is impractical to make them sit in front of a blackboard or a Zoom Class expecting them to remember irrelevant information. – Ahmad Faraaz, Kalam Labs

Theatre keeps the audience engaged much more than any other art form. – Akshay Raheja, Lifeline 99 99

On-ground experiments and continuous inputs from users is the secret ingredient to relevant, effective products. – Amitava Saha, Xpressbees

Consumers are moving from traditional transactional ecommerce environments to one that incorporates social engagement, fun, and storytelling at the core of customer experience. – Zinnov

Video commerce is an important tool for engagement, specifically for categories which require a lot of visualisation, and also for those consumers who are not transactional in nature. – Ankur Bisen, Technopak Advisers

With collaborative action growing digitally, internet platforms are more than just conversation builders. – Manish Dalal, Newfold Digital

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).

Edited by Teja Lele Desai

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