Follow
FEATURES/NASSCOM India Leadership Forum 2016 | Feb 10, 2016 | 11444 views

Wearable technology is the future, and not just for wellness

Angad Singh Thakur, Forbes India Staff
I cover social media, food service and technology companies for Forbes India.
Full BioClose
Wearables can be used to track eye movement in stores, train employees and even to integrate their medical records
Wearable technology is the future, and not just for wellness
Experts speak at a panel discussion titled ''Will Enterprises Get Hooked on Wearables?', at the India Leadership Forum of NASSCOM in Mumbai

“Technology is going to be a seamless part of our lives.” It was a relatively unremarkable statement by gamification expert and Bunchball founder Rajat Paharia. But it had significant implications for the subject of a panel discussion at the India Leadership Forum of the National Association of Software and Services Companies (NASSCOM) in Mumbai on Wednesday: 'Will Enterprises Get Hooked on Wearables?'

“The starting point for wearables is in wellness,” said Kunal Sharma, HR head, South Asia, Hindustan Unilever. “But going forward, there are a number of things that you can do. For instance, with augmented reality (AR), we are already using wearables to track eye movement in stores to know where to place our products.” They could also be used by enterprises and large corporations to help train their employees and even integrate their medical records, he said. These scenarios are not purely hypothetical. Hindustan Unilever, Sharma said, has already begun integrating the medical records of its employees with wearables.
 
“Virtual delivery of data is going to be the key in a country like India,” said GOQii founder Vishal Gondal. It was reported earlier on Wednesday that GOQii, a fitness wearables company, had raised a fresh round of funding from the venture capital arm of the financial services firm, Edelweiss. “Banking, consumer goods, gamification… I think wearables are going to become your entry point to all of this,” said Gondal.

Another field that the panel agreed was ripe for disruption was payments. “Banking and financial services are like the textile industry of the 21st century. We’re the guys everyone is trying to disrupt,” quipped Axis Bank’s Head of Retail Banking, Rajiv Anand. “But, we at Axis, are trying to prove that we can also be nimble.” He mentioned the bank’s app being present on the Apple Watch and its collaboration with GOQii to create a wearable that enables payments as indicators of its nimble approach.

With the increased access to personal data, however, also come concerns about privacy. The panel agreed that an evolutionary process was on in that regard. “I don’t think the last word has been said on that,” said Anand.

Post Your Comment
Name
Required
Email Address
Required, will not be published
Comment
All comments are moderated
 
“ There are no comments on this article yet.
Why don't you post one? ”
Next Article in NASSCOM India Leadership Forum 2016
Like this article? Subscribe to Forbes India
Just give us your mobile number and we will get in touch with you
Most Popular
No Record
Insta-Subscribe to
Forbes India Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR
click here to Subscribe Online