Don’t look for a job, look for career - Billionaire entrepreneur Kiran Mazumdar-Shaw tells students at IMT Hyderabad Convocation.
We are living in the most exciting and best of times ever in terms of the potential we have to change the world with the help of technology. We are witnessing the birth of technologies that will fundamentally alter the way we live, work and relate to one another said Kiran Mazumdar Shaw, Chairperson, and MD of Biocon Ltd said while addressing the Convocation Address at the IMT Hyderabad Campus.
The Billionaire entrepreneur Kiran Mazumdar Shaw was the Chief Guest at the IMT Convocation 2018. She was the first Women Chief Guest at any of the IMT Campuses, declared Kamal Nath, President of the IMT Hyderabad.
New wave of Nationalism “My Country is First” is sweeping all over the globe. The latest example being President Trump inculcating that in the minds of his countrymen said Kamal Nath.
During his address, Shri Kamal Nath encouraged the students to adapt to the change, but cautioned them to become change agent of positive change. An important word of advice which he gave to the students was “to stay level headed on a good day and strong headed on a bad day”.
Over 300 PGDM students of IMT Hyderabad passed out. They were presented their Graduation Certificates. The meritorious students from every stream were given away medals.
Dr. Satish Ailawadi, Director of IMT Hyderabad presented the annual report and congratulated the outgoing students . "I urge you to be proactive in ensuring that your voice is heard even when you are in minority, to continue to think critically as you develop your careers and place your influence in the organisations. Be open to new thinking constructing criticism and to the reality that learning continues beyond formal qualification".
Chief Guest Kiran Mazumdar Shaw shared with students her rich experience and contribution in research, innovation and affordable healthcare. She shared a lot of knowledge and insights into the industry, which was a great help to many students.
Delivering her key note address on “Managing the Future”, the pioneer of the biotechnology industry in India and the founder of the country’s leading biotechnology enterprise, Biocon, Kiran said, “If you compare the Fortune 500 companies in 1955 and 2018, you will realize that only a tenth of these once formidable and admired companies have endured the test of time.
The next few decades will see cutting-edge technologies such as Cloud Computing, Blockchain, Artificial Intelligence, Data Science and Quantum Computing provide smart young people like you huge opportunities to usher in “disruptive innovation” that will shake up businesses and transform lives. These technologies will also create new employment opportunities. About half of the current S&P 500 are predicted to be replaced over the next 10 years. Such is the disruptive power of technology led new businesses, she said.
Data is quickly becoming 21st-century’s economic fuel, replacing oil as an essential resource for the global economy, and thereby the focus of intense struggle to control it.
Data Science, which allows us to make sense of Big Data, is helping us find relationships between distinct kinds of information, thus generating new insights, creating new knowledge and leading to breakthrough innovation.
The exponential growth in the fields of Artificial Intelligence and machine learning is leading to a huge demand for highly skilled professionals. Over the last one year, the number of analytics jobs in India has almost doubled. As more data analytics projects get outsourced to India, due to a dearth of such skills across the world, we are likely to see a boom in this field in the years ahead, she added.
Speaking on the success and failure, she told students that failure is inherent to building success and I am sure you have been coached on managing risk and failure. In my life’s journey, my ability to face and learn from failure helped me a great deal. When I started off as a 25 years old woman entrepreneur with no business experience and limited financial success, I had to face huge credibility and perception challenges, as well as, failures. In those days, women were not perceived as good entrepreneurs and biotechnology was unheard of as an industry. The prevailing business ethos favoured low-risk ventures based on services and generic drugs and was averse to risk ridden, innovation-led businesses like biotechnology. I succeeded against these odds because I understood that all challenges can be surmounted with perseverance and ingenuity.
When you fail, learn from it instead of getting defeated and giving up permanently. My underlying belief is "Persevere till you succeed. Failure is temporary but giving up is permanent!
The ceremony then continued with the announcements of medal winners for various PGDM
programs during academic year 2017-18. This was followed by PGDM certificate presentation to each of the qualified student by the Chief Guest. The ceremony was concluded with the recitation of the national anthem.
Click HERE to read the entire speech by Mrs. Kiran Majumdar-Shaw.