Gabfest 2019; Digital World Within and Beyond Businesses

June 9, the first day of Thames Business gabfest began with Mr. Rajendra Man Sherchan’s speech where he explained that gabfest is an informal gathering where discussion related to IT and business takes place. Thames college has been conducting gabfest from the past 4 years in collaboration with Thames Management Club and IT Club. Mr. Sherchan also talked about how technology is changing day by day and how people are changing along with it.

The first speaker of the day was Mr. Phushkar Sharma who talked about scenario of marketing in digital world. He explained that every individual is adapting with the change in the digital world. The customers are getting smarter day by day, they are precise about what their needs are and they can’t be fooled like they used to be before. Along with that the market is also changing with the change in technology. Advertisement methods have totally changed from that in the past. People are using their own platform to promote their own brand which results in saving of budget-related to ads. Mr. Sharma also mentioned that in order to maintain a business for the long term brand building must be done to create a reputation in the market and also broader targets should be made so that needs of wider range of people can be fulfilled. In the digital world advertisements must be eye-catching so that it would be able to grab people’s attention towards the product. He says “Voice has to be greater than market share” so that a product can be sold on the basis of the claims made by the company.

Sambridh Pyakhurel (the director of cloudy fox technology) was the second speaker for the day. He discussed about the use of technology to digitalize Nepal. There are a lot of field where digitalization can take place. He specially mentioned Agriculture, health care and tourism as some major sectors where digitalization can be done. In order to digitalize Nepal involvement of IT enterprises, startups and government is equally important. He explained about how apps and software can be created to solve the problems of farmers, tourists and patients easily. He also told that the main thing that is holding people behind is being unstable during the starting phase of business and the problems that occur during investment. These are the major issues faced by the startups which stops them from making changes in the country. Entire country can be digitalized only if the whole nation gets united.

One of the very famous and renowned personality Mr. Madan Krishna Shrestha was also a part of the Thames Gabfest. He was there to talk about his own autobiography ‘Maha Ko Ma’ in which he has included some of his memories from the past and all the struggle he faced during the initial days of his carrier. During the session he shared very interesting facts that were mentioned in his book. One of them was about his schooling days where he didn’t have any idea about exams until grade 7. His presence lit up everyone’s mood and his jokes and funny gestures made everyone laugh the entire time. He even mentioned some of the sad part of his life that included losing his mother in a small age and recently losing his wife. He even insisted the audience to read his book to know more about him and get motivation for life.

The last speaker of the day was Mr. Binaya Devkota. He was assigned with the topic Knowledge horizon in 21st century. He started the discussion by saying how the game has changed and now power is not only about masculinity but it is all about idea and creativity. He taught the audience to value themselves so that they will be able to value the ideas they generate. He also said that we all must know what we want and we should definitely not just follow what people are doing. In this generation idea is of no use if it cannot be implemented. So he concluded by saying there must be a 100% dedication in what we do to make it applicable and helpful in real life.

June 10 , the second day of the event included two major programs; a panel discussion and a plenary session. The panel discussion was moderated by Mr. Rupesh Shrestha from Kantipur television and the speakers were Mr. Anil Basnet (CEO at metrotarkari), Mr. Amun Thapa (CEO at Sastodeal), Mr. Abhinav Shakya (Category manager at Daraz) and Mr. Prabin Subedi (Founding partner at Paramount Legal Advisory Services). And the plenary session was conducted by Mr. Bijaya Gurung and Mr. Rojesh Man Shikhrakar.

The panel discussion was specially targeted to the topic entrepreneurship in Digital economy, its opportunities and challenges. The discussion started by mentioning how things are being done digitally to save peoples time and energy. But while starting any sort of business it must be legally stable. “Ignorance of law is no excuse” says Mr. Subedi. Daraz, Sastodeal and Metrotarkari are one of the nation’s leading e-commerce sites who fulfill the customers’ needs by providing them quality product in reasonable price. Since almost 63% of people in our country are using internet new culture can be built among people about e-commerce. Metrotarkari is suppling fresh vegetables to peoples door steps which is making peoples life more convenient.

Whereas Sastodeal and Daraz are providing a platform to people where they can get a customized and personalized experience while shopping for their required goods. Are Daraz and Sastodeal competitors? asked Mr. Shrestha. To which Mr. Shakya answered that they are rather collaborators than competitors.  As e-commerce is still in its initial phase in Nepal so it is better if all these companies come together to make people involve in their business. The major challenge that these companies are facing due to the geographical structure of the country and the government. Goods are not being reached to the northern part of the country due to the landscape and also the government is not quite suppotive to such startup businesses. The plenary session was about Artificial intelligence in the business.

The speakers discussed about how the technology is being used in each and every aspect of our life. As the technology is developing day by day business companies have started using AI as an effective tool to solve problems. It has become a necessity in many sectors. It is able to solve many problems and also help in analyzation and prediction of sales and market strategy in the business organization. Using AI is more reliable that using human resource these days so there might be some chance of jobs being replaced by the technology. Demand of AI engineers are also increasing day by day so interested people might get a chance to explore more about it.

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