Algorithms to drive future business

Kochi: Businesses must brace for digital disruption that is real, rapid and relevant, according to Parmider Singh, managing director,  Twitter (Southeast Asia, India, Middle East and North Africa).

Speaking at the silver jubilee of the international Advertising Association (India Chapter) in Kochi on Friday, Mr Singh said if businesses do not recognise this fact, “someone else will do, and disrupt your business.”

Mr Singh said algorithms that help data crunching help businesses take decisions. “They can help predict customer choices. So beware of algorithms and data,” he said. He said companies must be looking for human resources outside, too. “It is estimated that there are one trillion hours of cognitive surplus — people who can understand a business but outside it —are available now, and you can make them work for you,” Mr Singh said.

“As long as you do the right thing by building communities and do things in public, the right people will come after you. They do not believe in ownership,” he said. Big corporates have stopped adding people. “Those who are recruiting big time are small companies and corporates,” he said.

Companies must be aware that the customers want to communicate their judgment on your product realtime. “They go online to comment on their offline experience. So it is important that every company looking at growth be part of the emotional fulfillment loop of your customers,” he said.