The role of technology in the business world has been growing and growing over the past few decades. This impact is something that was the subject of extensive debate at the World Economic Forum. While many at the event suggested that this innovation may hurt job growth, Vijay Eswaran disagrees. As the founder and chief executive of the QI Group, he’s developed an extensive amount of experience in the business world over the past two decades. Originally established as a multilevel marketing firm, the QI Group evolved into an e-commerce conglomerate with a hand in the likes of telecommunications, media, travel, and much more.
Vijay Eswaran has noted that this growth was primarily driven by innovation in technology and wouldn’t have been possible without it. At the World Economic Forum, he highlighted that businesses could benefit from technology in a variety of different ways. One of the most notable of these is a greater access to qualified candidates across the world. This is driven by the evolution and expansion of remote working technology. By taking advantage of this, as well as other technology, Vijay Eswaran notes that companies can reduce the cost of hiring and employing workers.
This isn’t the only area that companies can benefit from technology. As Eswaran noted at the World Economic Forum, technology can decrease the amount of resources needed to sustain or improve their output. This can help companies save a significant amount of revenue, which they can subsequently reinvest into the business. By doing so, Vijay Eswaran notes that technology can have a positive effect on jobs, both for companies and the employees themselves. Because of that, companies can retain the high-quality nature of their products and services while decreasing the cost of creating and delivering them. This is something that he’s highlighted extensively with his experience with the QI Group.