SEPTEMBER 11, 2001: A plane hijacked by terrorists crashes into the iconic World Trade Center in New York, killing thousands and causing billions of dollars of losses for businesses. Not to mention setting off a war and other long-term geopolitical consequences.
MARCH 11, 2011: A deep-sea quake triggers a tsunami of monstrous power and scale, which smashes into Japan and wreaks havoc on its citizens and infrastructure. Again, the loss to life and business is mind-boggling.
APRIL 6, 2018: The Reserve Bank of India (RBI) asks payments system providers in India to use data collected within the country to be locally stored within six months. Reason: Perceived data security risks associated with sensitive data being parked overseas.
A terrorist attack. A natural disaster. A policy change. Three incidents, three different locations, three different points in time. Isolated. Unconnected.
Yet, they had one common impact. They impressed upon businesses the need to protect their digital frameworks and data, preferably on the cloud, and within very large 'warehouses' of servers, networking infrastructure and software systems, called data centres. As data centres mushroomed in developed markets, the RBI's action and a subsequent government proposal for a new data protection Bill in 2019 in particular-brought home the boom to a digitally savvy India.
Described as the 'data factory to the world', data centres are a key element in today's internet experience. Without it, you wouldn't be able to send a WhatsApp message or initiate a UPI transaction or binge-watch your favourite show on Netflix. Why so? Practically all the data we generate and consume-when we use our smartphones and the internet, trade in stocks, access banking services, purchase goods, or engage in any other online activity is stored, processed and managed through these huge computing powerhouses.
This story is from the April 16, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 16, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS
