The Hyperloop is heading to India

Such headlines capture eyeballs; some skeptical with a raised eyebrow, others jubilant with great expectations, and a glazed look by many with no idea what it means. For a country like India, mass rapid transportation has been but a dream. The advent of metros, low-cost air travel, dedicated freight corridors have no doubt reduced congestion on our roads and railways. But, for the large part, they have not been able to cope with the rising aspirations, burgeoning population, mass migration and rapid industrialization India is facing today.

But, what is the hyperloop? Is it a crazy idea with no real practical applications? Or is it going to change the face of transportation as we know it? And, what does it mean for India?

Hyperloop – Hype or Happening?

The idea, though not entirely new, was first proposed in its modern form by Elon Musk through an open source white paper. The primary challenge that prevents vehicles from moving faster is friction. Whether it is the tires hitting the ground or the plane fighting against the wind, resistance in any form puts limitations as to the maximum speed that can be attained. Ideas have been regularly proposed for quite some time about traveling in a vacuum tube, and some of the earlier transportation systems such as the London Underground did use vac. The problem is that it is near impossible to make a vacuum tube cost effective.

That’s when Elon Musk stepped in and proposed a system of transportation that would be magnetically propelled, by placing smart transportation pods inside a near vacuum tube by using a motorized suction pump. This tube would be insulated from weather changes, have low energy costs and need little maintenance. The tube could be either under or above the ground as situation permits. Where the tubes are above the ground, the idea is to power it with solar energy, making it free of emissions.

While these all seem to be in the realm of science fiction, two companies Virgin Hyperloop One and Hyperloop Transportation Technologies (HTT) are leading the pack in making this a reality. They have signed contracts with numerous governments across the world, including India. Musk himself has indicated that he was disappointed with the slow progress of the hyperloop and might throw his hat into the ring, with the help of his Boring Company.

The India Connection

Of the two major players, Virgin Hyperloop One – which is backed by Sir Richard Branson – has already struck a deal with the government of Maharashtra that proposes to connect Mumbai with Pune in 25 minutes (which is neat for a journey of 160 km). In its study, the company believes it can support about 150 million passenger trips and result in economic benefits worth $55 bn via cost savings through reduced fuel consumption, emissions, accidents and increase in operational efficiency. Similar routes connecting Mumbai, Bangalore, Chennai, Delhi, Kolkata and Thiruvananthapuram have been proposed. And Hyperloop One is not the only player eyeing India either. US-backed HTT has inked an MoU with Andhra Pradesh to build a loop between the new state capital Amaravati and Vijayawada.

It is being predicted that hyperloops in the 21^st century can become what railways were in the 20^th century to spur India’s economic growth. Besides the obvious benefit of moving people and cargo across the sub-continent in a faster and more efficient manner, connecting India’s major cities with its outskirts and rural towns can also ease congestion and reduce overcrowding in cities as people may migrate back to their home towns rather than stay near the city. There is also the added benefit of extending economic advantages to the hinterlands of India, many of which are still stuck in the past.

However, to come back to reality, it must be said that these are only early steps and the development of the hyperloop may take years to become a reality. From regulatory clearances to capital investment, many hurdles need to be crossed before work can begin. The technology has not met up with expectations with regard to top speeds (One Hyperloop’s latest test was able to hit a top speed of 240 km/hr; nowhere close to beat air travel). The cost per kilometer too seems to be spiraling out of control. And the final challenge, when it comes to that, is will passengers be ready to step into one and at what cost?

More to it than Meets the Eye

While the revolutionary nature of the hyperloop and the deals inked and the billions being spent are grabbing the headlines, one aspect which has not yet been explored is the software side of things. The hyperloop will require tremendous software support, especially though IoT based devices to communicate throughout the journey.

For instance, Hyperloop One has unveiled its new mobile application designed to help passengers book a ride. But it doesn’t stop there; it creates an end-to-end experience right from the passenger’s doorstep to her ultimate destination. More so, we see more applications being developed to help with logistics, signaling, navigation, etc. to be developed to make the hyperloop work as a system of mass transportation. Hyperloop One had to team up with HERE technologies to bring out the app, and we expect many more such partnerships in developing the associated technology in making hyperloops accessible to the masses.

In conclusion, the hyperloop is in a phase similar to what the Internet was in the 90s. There will be bloodbaths as bubbles burst, but in the end the technology will find its feet to carry the world forward.

You may or may not be a fan of driverless cars, but one cannot help but admire the work of designers who make cars smarter and safer. Honda’s Safe Swarm allows vehicles in the vicinity to communicate with each other and pass critical information. Say, there’s an accident. Alerts will be relayed to cars miles back, enabling them to operate collaboratively and intelligently to mitigate traffic.

With connected devices becoming the norm, the next step in technological evolution is interconnected enterprises that are dynamic and integrated, rather than siloed. The idea is to connect customers, partners, and other key stakeholders to anything, anywhere, on any platform. By bringing together operational technologies (OT) and information technologies (IT), interconnected enterprises implement an interconnection-oriented architecture (IOA) approach that facilitates seamless data exchange and digital growth.

The number of interconnected enterprises is expected to grow exponentially in the coming years; essentially, because the major IT strategies that drive growth are all largely interconnection-dependent. Businesses that deploy interconnection solutions are certain to reap the benefits of value creation in terms of revenue opportunities as well as cost savings.

Same, yet different

Artificial Intelligence (AI) is not a new find. Neither is the Internet of Things (IoT). They have been around much longer than other technologies like Virtual Reality (VR) or Augmented Reality (AR). However, recent digital advances have brought these hitherto theoretical and isolated technologies into the practical and interconnected realms of everyday life. That apart, AI, VR/AR and IoT also have the same set of dependencies—relatively sophisticated devices, excellent network connectivity, robust cloud infrastructures, and interconnection among systems, devices, applications and services for optimal performance.

Today, around 40 per cent of the world’s population has an internet connection. In 1995, it was less than one per cent. With high-speed network connectivity comes the promise of accessing data, applications and other services on demand via smartphones, tablets or wearables. Interconnected enterprises are able to deliver real-time performance, regardless of workload, and for less cost.

Similarly, with the availability of scalable cloud platforms, building machine learning into a device is no longer an exorbitant or complex proposition. Also, data is abundant, with billions of diverse, connected devices uploading information to centralized repositories. The challenge today is not to make smart devices that are convenient, but smart devices that are truly powerful.

Brave new world

AI brings a human element to IoT, making it relatable and valuable to individuals as well as enterprises. However, without interconnection, companies will be stuck backhauling data between their users, partners and data centers. Devices, clouds, business and digital ecosystems need interconnection that is close enough to each other and their users to fuel today’s technologies and scale digital business.

Gartner calls this entwining of people, devices, content and services the intelligent digital mesh. It’s all about combining the real world with the virtual world to create an environment that is immersive, digitally enhanced and connected, and delivers optimal outcomes. Let’s take smart manufacturing, also called Industry 4.0, as an example. With interconnected technologies, it has brought in a new age of responsive supply networks and custom-made products and services that strive to unite the digital world with physical action, through novel concepts such as the digital twin.

Similarly, the idea of smart cities has been gaining ground only because of the practical applications of these interconnected technologies. From smart lighting and smart parking services to energy conservation and garbage collection/recycling, the scope of an interconnection-oriented approach is immense.

The digital future

According to researchers at the Massachusetts Institute of Technology, the combination of IoT and AI will translate into enhanced security, seamless and permeating implementation, and outcome-based applications; all of which will be of great value to the industry. As a result, we will have well-designed systems that are built to take into account security, data privacy, interoperability and resilience of all connected devices and services. Businesses stand to gain from these good technologies in their respective industries.

By instilling a degree of self-awareness in physical objects and their digital twins, AI is cultivating another IoT: the Intelligence of Things. Self-learning models (that allow devices to monitor themselves, their users, environments, processes and outputs) help enterprises to identify impending failures, minimize downtime, and optimize process efficiency. What’s more, these models are continually learning and evolving to become better with time. 

And that’s exactly what new-age enterprises need to do to thrive in the ever-changing digital world. Be flexible enough to adjust, adapt, and learn constantly. Because technology, by itself, doesn’t really possess any value. How we use the technology is what makes it valuable. So, the question to ask is: What’s on the to-do list of interconnected enterprises?

 

In today’s interview, Mukund Krishna, CEO of Suyati Technologies and a key member of the Kerala Committee for NASSCOM’s 10,000 Startups Initiative, speaks with the Directors and Founding members of FTL Technology Systems – Hareesh Panicker & Soney Jose. FTL specializes in offering consumers safe & simple solutions for all their online financial transactions.

 

Hareesh Panicker is a seasoned Banking and Telecom industry specialist donning multiple roles in his long career at some of the biggest names in these industries. Soney Jose brings with him around 23 years of solid expertise in the BFSI sector. Find out more about their journey in building FTL Technology Systems, the challenges they overcame, and how they transitioned into entrepreneurs from corporate executives.

 

Setting business goals is important, but merely defining a list of them may just not cut it if you want to ensure success. How do you translate and break them down into everyday activities? This is where clearly defining the Key Result Areas (KRAs) of your business will help.

KRAs, when aligned with the broad business goals of the company, provide the critical framework that will impact your success. This will enhance the productivity of the company and lead to increased levels of employee satisfaction. As a CEO, I have seen how KRAs can impact both; here are some reasons why.

KRAs and Enhanced Business Productivity

Randall Rollinson and Dr. Early Young in their book Strategy in the 21^st Century say:

KRAs is a strategic factor that is like scaffolding or framework that help break down your vision and goals into specific factors that will drive your business success.

KRAs help in improving communication across different departments and teams and outlining their responsibilities. They communicate the latest business goals and strategies to employees, ensuring that their goals are aligned with that of the company’s. Well-defined KRAs enable the business and its workforce to focus more effort and time on areas that yield the most ROI.

KRAs can vary from business to business, but the primary ones are profitability, employee satisfaction, customer and engagement.

LinkedIn is an excellent case study to show this. In the article The Management Framework that Propelled LinkedIn to a $20 Billion Company, setting key result areas is mentioned among the primary reasons for the company’s success.  These OKRs (Objectives and Key Results) are used to connect and align employees to the company’s mission. CEO of LinkedIn, Jeff Weiner, pushes the team to challenge themselves with key results, and guides them through weekly meetings to keep up with their progress on their key results. 

Read: Employees are the new influencers!

KRAs And Employee Satisfaction

Setting KRAs help employees focus on their goals, which increases productivity and gives them a sense of accomplishment. Apart from that, employee satisfaction and engagement in themselves are important KRAs that business owners must focus on.

A study conducted by Gallup says “The average working population ratio of engaged to actively disengaged employees is near 2:1. Only 30 percent of American workers are engaged at work. The cost of this disengagement results in a whopping 450 billion to 550 billion dollars per year, leading to employee absenteeism, workplace accidents, and higher health care costs.”

Jeremiah Bird of Reward Gateway, says that active employee engagement can be achieved by “the alignment of an individual employee with the goals and vision of the business.”

Contrary to popular beliefs, increments and salary hikes do not contribute to employee satisfaction, but perks like the following do:

• Taking care of employee health and wellness
• Encouraging a work-life balance
• Creating a positive and conducive work environment
• Rewards and recognition programs
• Employee learning and career growth opportunities
• Fostering employee relationship and bonding
• Encouraging off-the-box thinking
• Open communication
• Warm and welcoming new-recruit onboarding

Tying KRAs With Long-Term Business Goals During Hiring

Building a great team is integral to success. Paying more attention in the recruitment and selection process is a critical factor in meeting the long-term goals of the business. Assess the goals and attitudes of potential employees. Ensure that they are in line with the KRAs that will be assigned to them. This is vital to the overall business growth strategy and will save you a whole world of trouble that a misfit could bring.

Manager Foundation’s Keith Tatley says, “While on the surface cultural fit may not seem like a critical factor in the hiring process, it is arguably one of the most important selection criteria.”

When you create a result-driven culture with carefully picked employees, it brings your team together and helps them work together in achieving the strategic goals of your business. This will further assist them in becoming more productive, leading to both employee satisfaction as well as business growth.

Read: Building a Happier Workforce with AI

It All Boils Down to Smart KRAs

Aligning the KRAs of your company to enhance productivity, improve employee engagement and satisfaction, and ensure smart hiring keeping the long-term business objectives in mind, will help you achieve your business goals.

While defining KRAs ensure that they are clear, measurable, and can be modified to suit the changing business goals of your organization. What are some of the KRAs that are working for you?