Nandan Nilekani, Co-Founder of Infosys
Infosys co-founder Nandan Nilekani discusses his experiences leading India’s second-largest IT services firm and his efforts to enhance financial inclusion through payment digitization and India’s unique biometric-based identity platform.
On how India’s national identification platform spurred innovation: “I think what we are seeing in India, actually now, enormous leapfrogging using technology…. One example is Aadhaar itself. Aadhaar also gave authentication at scale, at about more than one billion authentications a month using the iris, fingerprint, face, all that stuff. A lot of AI use, in fact, authentication is all AI-based in Aadhaar to improve and we make sure there is a live person and all kinds of things are done using AI. So it gave people a chance to use the new technologies. Then the new payment system, which is called Unified Payment Interface, or UPI. It's a very advanced payment system.”
On his outlook for India: “Now in an era where globalization itself is being challenged by forces everywhere. I know they can do a globalization led growth model. And with manufacturing increasingly becoming automated with robotics, and 3-D manufacturing and so on, I don’t know that all models of creating millions of jobs for people making shoes, and then the cars and electronics, that model is valid anymore. So I think India will have to select a model of growth, which is more domestically focused and more services oriented.”