Indian Institute of Management, Amritsar successfully conducted its third annual Finance & Marketing Conclave, Pariprekshya 2019 on 12th October 2019.
Pariprekshya 2019- the Finance & Marketing Conclave, witnessed well known experts from various industries across the country having perceptive discussions on different aspects of Finance and Marketing. The veterans from the industry interacted and reflected with the budding managers on the recent trends and developments in the domains of Finance and Marketing.
The theme for the Finance panel discussion was ‘Changing landscape of the BFSI sector’ while the theme for the Marketing panel discussion was ‘Marketing in the Age of Voice Search and Virtual Assistants’.
The eminent panellists in Finance Panel included Mr. Ashutosh Bishnoi (MD & CEO, Mahindra Asset Management Ltd.), Mr. Kapish Jain (Chief Financial Officer, PNB Housing Finance Limited), Mr. Rakesh Singhania (Chief Financial Officer, Wells Fargo India), Mr. Sudipto Roy (Founder and Director, Finlabs India Private Limited), Dr. Harshavardhan Raghunath (Partner/Senior Advisor, Bain & Co.), Mr. Jaykumar Shah (Deputy Chief Financial Officer, Tata Capital Financial Services Ltd.), Mr. Rohit Patoria (Head Planning and Control-Pymnt Biz, HDFC Bank).
The eminent panellists in the Marketing Panel included Ms. Archana Sinha (Senior Director Corporate Marketing, Salesforce), Mr. Amit Tyagi (Chief Marketing Officer, Sonata Software Limited), Mr. Sudharsan R (Head of Marketing Operations, Dell EMC), Mr. Sameer Seth (Director Marketing, Dolby Laboratories), Mr. Prasenjit Roy (Senior Executive Vice President and Chief Marketing Officer, NTT Com-Netmagic), Mr. Balaji Vaidyanathan (Marketing Director-CEEMA, Franklin Templeton).
The Conclave commenced with lighting of the lamp of wisdom & knowledge. Prof. Mahima Gupta of IIM Amritsar welcomed the esteemed panellists. She emphasized on the fact that how the students are gaining practical knowledge through Conclaves and encouraged the students of IIM Amritsar to gauge and understand the perspective of the industry stalwarts.
Introducing the theme for discussion, IIM Amritsar students delivered a few presentations on the themes of the Conclave and briefly introduced the audience about “Changing landscape of the BFSI sector” and “Marketing in the Age of Voice Search and Virtual Assistants”. The first team of presenters comprising of Mr. Rishabh Jain and Mr. Kushagra Kukreja of PGP05 explained the audience about Fintech and how it is responsible for process automation in Banking and Financial Sector. The second team of presenters comprising of Mr. Saurabh Lohani and Mr. Milin Solanki of PGP05 talked about Virtual Assistants and how it is bringing a change in our everyday lives.
Mr. Ashutosh Bishnoi was the moderator for the first session. He explained the audience about the history of Banking and Financial Sector and how through a system of debit and credit, it became prominent in our lives.
Dr. Harshavardhan Raghunath highlighted the fact that in order to be a $ 5 trillion economy, we have to increase the capacity of Financial system. The reach and efficiency of the system has to be increased and it needs to be more robust and reliable.
Mr. Rakesh Singhania mentioned how there has been a tremendous amount of change in the system nowadays and now customers are being targeted based on their lifestyles. He also reflected upon the fact that banks will have to ensure data security in the upcoming future.
Mr. Rohit Patoria explained how the Payment Ecosystem has changed over the years. From payment in cash, we have moved to Debit and Credit Cards, QR codes, Aadhar enabled Payments, etc, which is reliable and easy to use.
Mr. Jaykumar Shah explained how from operating in cash and Fintech only, the two services are rapidly working in collaboration with each other. He also emphasized that the upcoming generation’s demands are changing at a fast pace and instant decision making is required.
Mr. Kapish Jain mentioned that BFSI is a phenomenal place to be in. Only thing we need to do is be adaptable to change, have a good understanding of future, and get into new learnings instantly because what got you here won’t get you to the next level.
Mr. Sudipto Roy highlighted that technology was already present since long time. Now, people are thinking about analyzing the ‘right data’. He also mentioned about the misconception that Fintech would take away the jobs. However, in reality they both can co-exist side by side.
Mr. Prasenjit Roy was the moderator for the second session. He explained the audience how the Virtual Assistants are bringing a change globally, where a large percentage of the total population interact with the help of machines. He also mentioned the advantages of customized Chatbots.
Mr. Amit Tyagi mentioned how we are on a journey from Text Search to Thought Search. We are living in a world where social shift is happening on a large scale. He further explained that there are five stages in Virtual Assistance namely, Instruct, Interact, Predict, Empathize and Relate.
Mr. Balaji Vaidyanathan mentioned how we are the fast adapters of technology and changes in the upcoming years will be frequent in nature. He stated that Voice Assistance Technology will have a huge impact on current as well as future marketers.
Mr. Sudharsan R talked about how to make brand stick to the mind in the world of algorithms. He also explained that “Choice Modelling” is going to be different in future and our choices will be algorithm-based only i.e. less irrational and more logical.
Ms. Archana Sinha highlighted that Consumer preference is changing nowadays. The company which fails to adapt according to the market needs, will eventually fail. She also shared her experience at Salesforce by drawing insights from her research data through which students gained a bit of exposure towards the practical data.
Mr. Sameer Seth mentioned how Artificial Intelligence and Voice Assistance has existed for a very long time and how it has affected the daily lifestyles of individuals. He then went on to share examples from his daily lifestyle about how he is incorporating the use of Virtual Assistance.
The students of IIM Amritsar showed great enthusiasm during both panel discussions. The discussions were made highly interactive through a healthy Q&A session between the panellists and students. The Conclave successfully concluded on a high note at 5:30 p.m. in the evening.