 I'm very glad to see everyone, and I'm delighted to be here. I'm very impressed with what we have in this discussion today. The digital transformation is really the way forward for pretty much each and every one of you is sitting over here, whether we are running as you mean, or whether we are actually part of a big corporate overview. And I mean, some of the data that I was reading, because the global data, I will say that nearly 18, 9% of organizations are today in trying to deploy digital transformation, which primarily implies as a digital architecture for your organization. And it's only about 40% or 44% in fact for the real number, which has continued to achieve more to more good amount of success with this digital transformation. So I think we are still, we need to be out there to see that there have been that kind of digital transformation, but I don't think there's any reason to be like that, because the data just started focusing. And that's been very little work that has been done to serve as the tip of the area's work has been touched, and I think it's only going forward in the real transformation and results, and what works and what doesn't work is going to be kind of going to come to us in a big way. But, indeed, the position is actually straight in the need, not just from the point of packing up with the digital world, but more, you know, from the 10th of the revenue operation, whether it is marketing or whether it is HR or whether it is finance, and how it has to be controlled, all of the data needs to be more taken care of, more needs to be more digitized. So I think digitization is really more of a virtual function than a technical function. And therefore the whole alignment of everybody in the organization who wants this goal is becoming more and more critical. So, you know, the marketing department cannot be running this alignment from the technology department, cannot be disaligned from the finance department. The HR in its entirety has to adopt digital and stay in order to be successful. In one department, the gender, the other zone, its success is going to be very less or negligible in generalization. So I think we've got Vasana and Aya and we also got KFC, who actually needs for five years, not just in India, but across the global organizations where they have been in the first months to experience what digitization or more of digitization is going to be for the organization. So let's just add to the other side of it. Thanks for the opportunity, as far as I go, and the need for my students to really go on a digital course was covered when, as Aya and the leader, first came across like 2000 in the 13th, 12th or 13th, where he started on daily talk about when tech is how it's going to be and when tech is trusted by it, and initializing any techniques of not being able to come to a digital branch and customer is not as it used to be. So at DCP, you were the first one that has a mind of going for open adoption of digital navigation. So what exactly, and now we're also talking about six or seven years down the line, look at what has this digital age landscape to be mainly to you all about? What was it that you first took, what was it that worked you in this architecture? What is it that you as a man have been able to enhance the user experience in such a situation? I think it's a very interesting question you asked. What is your response to that? And that's not why I go explaining short times. So in fact, a long fact, when I opened my first guide account and I was so happy to open my account after 30 days, I must have referred that I have several of my friends who would open their accounts from this line. My relatives, I don't know. What year was it? 40 years ago. It was like in 2000. And if I ask the same man, or if the same man will offer me, okay, instead of 30, 29 days, still I will say your bank is not real, your bank is not digital or you're not really hearing the customers voice. This is what I would say. Even in my bank, I would say that 25 days and 20 days, it's not an actual output of account opening. So now every organization is transforming their business to the next object. So new banks are already into that orbit now to get how they can leverage on the new architecture to be able to get into actual customer, better customer. The bank like us, with the legacy of 85-year-old bank, now we can imagine what types of systems are already there. And on top of that, now we are talking about digital and keeping that interest of new customers as well as existing customers. So primarily where it is to open a bank account. It's just an opening a bank account, I don't know them, what happens to the consumer later on to the account and the finances and transactions and so on. Now, customers are becoming very hyper-personalized. They want everything there and there, I'd say. So that's become the response to the bank. If I'm opening this bank account in four minutes or, there it says, just take an example, for example, they have done some kind of innovation or a DPS bank has done something. But what is after that, whether it is my primary customer after even after opening the bank account so fast. So that's the one, another way to look at is after opening the bank account or onboarding the customer, engage them with the services. So servicing, serving a customer is a health issue. You have to view all the type of services. But how do we keep the engagement of the consumer on the same app? He has to come again and again to the transaction and should not go to the another bank. As well as look at how he's performing on the other apps or everywhere, wherever he goes. So I think it's very important for every organization, not only bank, who are serving the consumers to understand where do they go, on how many times they watch a movie at the weekend. So can I offer something else to my banking app? So it's like not only from the experience which I have, I was having with any of the RTGS or doing normal mini-statements or so on. I had to go beyond that. So it's like a model of every day life. It means from morning to evening, gets up in the streets, whatever he is doing, I need to understand what he's doing. And I have to give back those services. So there will be no end to my app. So it could be non-banking experience. It could be a social cause experience and so on. So data security is concerned, everything is taken care of. So this is how the next landscape, banks will look at. So as we get, as everybody understand that, banks are not important. But banking experience has to be there. And as now consumers are moving away from the branch, although Bharat or rest of the Indians, they always go to the branches. But typically, looking at the future, you have to take care of branch, internet IP, mobile financing, but now, the consumer sitting here wants to order food. Wants to do the branching there and there. Or wherever he goes in a branch or in a shopping mall, he wants to know what's happening now. It's everything around him. So I think from one directional channels, it is coming out of the bi-directional as well as the unidirectional. So while sitting in here, I have to have a branch office for some time out there which can be an AR, AR experience, or some kind of another experience. And it's like you have to keep on understanding what consumer is doing on a single transaction. And give back those bi-directional experience. So ultimately, when the consumer is coming to you, he was doing one transaction. But bi-directional, what exactly I can offer you if there is proper big data or AR algorithms? That's another way to look at it. Now, when I know consumer is very important apart from traditional channels, he is going everywhere. Sharing economy, like he is doing regional hotels or he is going for trip or in trips or tourist trips. So he is everywhere. And the sharing economy is evolving. Apart from how he's currently, when he's 80s, there are sharing companies. Your car, OLA, or OEO. You will find 400, 580s in the future now. So you have to agree with this. So as a single bank, I cannot do it. So when I want to do it, I have to leverage on those APIs or those technologies which will help to bring my experience to those experiences or those channels. I will pursue some built-in, so startup, so that means. So that's the solution. If I ask my IT partner, let's deliver these things. So they will be able to do it. But by the time other banks and other components will move ahead and will deliver it. So how to really manage this game? So you have to, again, partner with those built-in companies who will do the agile output with their defined time, with a very good experience, and customer is glued to that. So banks are now bringing that architecture which opens up their banking services to APIs to these critics or to the front-end channels. So it will be my own front-end channel, like Mobile Bank, or partner with some app, like Moffay, or Sweetie, and Book My Show. So it means I'm providing my bank out there on those channels. And consumer, please utilize it. Even for architects, are there for the day-for-world just to think like an enterprise that can do it? Absolutely, it's a collaboration day-for-world. Yeah, it's a collaboration day-for-world. And you cannot say that I'm a bank, and I sell all my customer on my own. Because customer is having different varieties, and today we are making a generation where there are six to seven types of generations. And every generation demands a different experience. Somebody wants to go to the last place, somebody wants in-hand, somebody wants to go to Alexa. So you have to serve those consumers everywhere. And as an IT systems within a bank, you can deliver immediately in a one-year or a one-year. When you partner with the same entity, you can go to the different retail parties. And you can cover up more. So it's also beautiful that you're bringing this transformation with an organization where these people are not there in our nation to understand what is your idea. And then bring people, identify which process to bring on those systems, build those GSPs and APIs, and deliver another business model to have a printed adoption. So that's how we did this exercise last three, four years. And here on it's really giving good outputs. So I'm going to ask you a question. What are the unique other initiatives that KFC has taken in the middle? And what are some of these initiatives that have worked best before? Now, this could be like you're taking an important sense of this class that you might be looking at. And I think the library, this is probably the, I would say the elephant is the room for everybody. The library is trying to track and support this actually. No, absolutely. I think the library has, literally actually suffered the time business. But I think overall coming back to the channel, I think we are following like a KFC everywhere strategy where you would want a customer that can order KFC anytime, anywhere, and with the preferred channel, of course, they want it. And whether it could be ordering on the app and checking the order status on your Alexa, it could be just chatting and putting an order on Facebook messenger or ordering on the website and coming in the store to pick up or ordering in the store and then eating their food at home. So all that I think in terms of only Chinese strategy, I think is a big part of our strategy. In terms of what has worked and what has not worked, I think in terms of, I think the Indian consumer world, in terms of within the food, I think the most perfect is obviously the app, as you said, the delivery, the app, using app for delivery, the ordering to website and website. We saw the other innovations like Kiosk and Click and Connect. I would say, I think they are very recent in India, so yeah, I think globally, obviously, a lot of the markets as we see, France, UK, Australia, US, they are very interested heavily in Kiosk, and I think for some of the markets that has worked, primarily because of impact on the ticket price, there is actually a few who would say that if you're looking for comfort food as you order the Kiosk, then actually end up ordering more. Because those, they will touch you on how much cheese sizes you're adding on your food, right? But in India, I think that's a fairly nice thing, and I know so far the competitors have already started experimenting. When are we doing it? Yes, we will be there shortly. Other things like Click and Connect, obviously that is a big one. And I think that the fact that everything comes to zero, wants everything on their device, right? They don't really want to be standing in the nine. They don't, you know, if you go on a Sunday evening, there's like 15 minutes of waiting time and everybody's shouting. That's something we want to basically over-reduce the fraction of the consumer in the store, and we believe Click and Connect often to order all these variations of takeaway, essentially, channel. I think they are going to be very important for us. So we are working on that, and the consumers will see you shopping. So I think India is more like a ticket deliverer than the town would be, right? Yes, yes. They can then know also what they can come and do. No, apparently, takeaway is a large part of the business. Even me, what we do find in consumer research, actually takeaway is a big art which doesn't really surface up as a channel in terms of the popularity, but indeed, actually it is. And a lot of the aggregators are actually experimenting with that as well. So I'm sure, I think about half a century, this probably could be one of the other agents for the food players in India. So India is maybe making the takeaway more efficient? Yeah, so it can work, but a lot of the consumers said that really, and it's very common that, you know, given you start from office on a Friday evening, and you don't know that super, but actually you can take a Yuma, and if you call the guy, he could have you back again, I mean, I don't know here, that's all nothing, right? So, and then the guy comes on the main sheet and hand it over, okay? So, and then you want to go and sit back and relax in your home environment. So I think that actually, occasions in QSR is quite prevalent. Now a lot of the big QSRs are also, obviously, we also want to cash in on that. So we can get, will be an endeavor to that, where you just order from your food, and as soon as you, let's say within 100 meters of our store zone, you actually start to take the food and serve your work. So that is, that is, and you know, KFC has always been, also been one of the first ones, it's a restaurant sector, at least to take an initiative in artificial intelligence, whether it was use of chat boards or, you know, sort of training, like that to order for KFC. So, how, how did that kind of happen, I mean, you know, to see the person in the space and then also try to achieve some success. Yeah, I'm absolutely, I think see, KFC, I would say, QSR in general is a bit of a late entrant to the digital party, I would say, to compare versus DCP versus QSR, I think we're definitely a few years behind. Now, but I think we're trying to leapfrog and they are a multi-dimensional strategy around why, it's a three-dimensional strategy that we're following, why we obviously want to work our core systems, reporting of the, as you said, open architecture in place to be able to integrate with third parties that do the studies in the matter of the world. There is a transformational layer, which is all about ORMs and CRMs of the world to make sure our customers, we know our customers well. And then there is a cost exploratory layer as well, which is all about EXA's and chatbots and EM, the implementation engines and everything. So I think we all, so we are following that strategy and I think we want to balance it out in there. I don't think we can be in a position where everything follows chronologically, like we don't want to wait for our systems to be upgraded to actually try an EXA. So yeah, so our strategy has, we're trying to balance all of that and I think our belief is that you know, fail fast and run fast. So while, so you want to experiment these technologies and really understand what is the real worth of them for us. I mean, I'll take an example of chat and voice, right? So initially, I think our belief was that it is going to be, you know, it could be like a big modeling engine for us, right? You know, if people actually come on these devices and order, actually, now we're learning that actually it is not going to be entirely true, right? I think it could be more like the user interface that says, you know, we've launched a smoky red recently as a new product, right? So I hope that people have tried it for a year. So it's a very nice product, you should go and try it. So smoky red, right? So now people understand what smoky red is, right? Or I don't understand what are the new offers are there and I want to understand how do you cook chicken and what are the uniqueness of KCG. I just want to impact with the brand and these tools probably are more of that branding interface and then with the option of what it is. So that's the learning setting. The philosophy that we have is that while we fix our port, that's actually even also it's the order and the experiment with this technology so that actually by the time we're ready with the port, we actually already have a learning curve to take it to the next level. So I'm not too excited, I would love to know is that what the GCP has for the KCG and you said that you're the main entry to the party, I mean, it's actually, it's also a tradition to go over there, the different, there is a certain set of employing this, unless you want to really hire all of them, you can't just hire and reduce the number of people coming in, there is a lot of change over that needs to happen from everybody and then initially. How is it that you're achieving that? How is it that you're trying to get everybody on the same page to be able to? No, it's a gesture for every organization to say differently. Like I said, new banks, new architects, new people, they know where they are, why they are there, and how they want to serve certain set of consumers. Old banks or ESU banks, the way they serve, and now another index or a new asset, I mean, how they will compete. So they have their own journey. Looking at our own journey, we found that we need some of the good champions of our digital who experiment and showcase those results to the top management board members so that they understand, this is how we have that aspect or activity we can really build. So I think mindset change happens with the slow education to the top and bring down that to the, your brand staff and so on. So whatever we deliver, we go on the grid and teach those new things to the brand staff so that they can work our customers' work out. It's not only delivering open banking or it's not only delivering a mobile app, but after that, the name is nice. How the consumer will come on top of that. Even, like suppose you want to experiment on top shape, AI or any new technology available, or AI, AI, like this is to brand. So first of all, you have to show some experiment to the board members or management committee and bring that kind of investment to this experience. So I think change that mindset, you always have to involve top management and that has to be the agenda of the board members or so, what is that innovation or digital strategy. So now our audience are understanding that they should have a separate entity within our organization who takes it out on the digital or innovation. I think it was only IT director or CTO, but now they're getting, how do we partner to start a new tech, so they're bringing on innovation or a new tech department. So how do we do on the blockchain or in our new techs? So within our organization, they are rescaling those people. So rescaling is another way to get how existing employees can be used. Tomorrow if I want to transform or do the process automation or robotic process, you know, same process. So it was the same guy who is doing that operation. So that means role is kept safe as well as he's become champion in that area. So it's a way to look at optimizing your organizations, not only with the technology, but mindset. There comes role of HR, so it may be possible that your KRA should be changed. But the HR itself is, you know, honestly, they are not going to have a real contact with the organization. But I think if the organization will not change, then there are the other organizations who are already changed, we'll cover those organizations. So it's very important for every organization, how they go to the next target. And it's very important for our management to understand where we are as, where we feel we're all in there for you. And while you go to the next target, you take care of people, what process you have to change, which technology we should adopt immediately. And I think we'll take care of regulation and cyber security. And what is that consumerist demand? Then we'll be able to fix it. What is your task to take care of? So I think, see, culturally, it's two things I would say. One is the bottoms up and both the top down. I think that aspect is very important. That bottoms up, we actually have to build tasks of the organization in the stuff that you do. And the obviously results are important in that, whether it's branding or whether it's actual money that comes in. So really, trust that, whatever we talk about, we actually deliver on time with high quality. I think once we cross-functionally, we start believing that, seeing that as a credible partner that we're actually bringing the right technologies with the right cost and the right outputs to them, I think that that actually makes a big change. Obviously, I mean, I think organizations are struggling with digital versus IT operating models. But I think as long as your business as this is going and the position is not getting acted, and you're actually generating incremental business benefits, whether it's as a set money or branding, I think that is very important. And obviously, that top down also, I think that is very important because if your CEO or the board is not behind that digital agenda, that actually, I don't think it can actually be successful. And I mean, one part of that, now the consumer agenda is becoming so cyber-economic. I mean, I go into quarterly updates and you wouldn't imagine that every board member, every seat person in the room is actually giving us feedback on what should be better on the end in terms of the U.S. So he said, let me S.A. Pro, S.A. Kanno, this is a chauja that I'm going to demand. So again, that is actually good part because now, even like over 15, you know that board members are actually also that savvy as a consumer that actually, they believe that if their organization is not in that top league of providing their digital customers we as I'm going to be behind too. So I think both of them are actually very important to be able to suggest. Another area I would like to touch is about cyber-economic. Especially since in the U.S. or something, I mean that clients, they are the most vulnerable when it comes to protecting their customer data. And I guess I've always been on the left with the technology we have. It's a given. So, you know, as a client, what are the initiatives that you are taking to ensure that in the digitalization process, the customer is safe, the customer's data is safe, his account is safe, the actor is probably asking for the responsibility. So I think the cyber security is very important and not only banks, but very, very consumer is there. That is why in India we have a separate site for cyber security. Even the RBI takes care of cyber security in many ways. They have started RBI, IT examinations last year and everywhere they are doing it. So, as you rightly said, actors are always ahead. So what is that which will help us to not to have those many ads and so on? We have seen some of the recent examples in one-pointing Pune and cooperative ads as well as in two years before we have 30 lakhs arts wear schemes in India as well. So, the best thing is to create robust systems as well as educate your consumers as well as employees. So, as a part of this separate cyber security initiatives, so maybe three years, four years, we should have only two or three guys in ADD security. So today we have more resources, more speed resources on security. We have our own phone software on the threads on 21 by 7. So, technically we are keeping ourselves ready as well as any product we move out. So, we do proper investigation as well as we do the required case for the infinity of assessment as well as on a regular basis we assess our environment networks and so on. And on a regular basis we do educate our employees and that particular which goes to our top management. We will stand and we will talk about what are the ways people hack, what are different hacks that happen in the country or globally and how organization is ready for that. And furthermore, what is your responsibility here on? An example, you should not open up any of the image or the links in the email, even if it is coming from India. You just have to review it, which is their domain. But there are different ways of fishing and social hacking. There are those kind of hand-holding we do with the employees. Because at least 1995 percent hacking happened because of some mistakes done deliberately or some involvement of internal people. Like somebody is putting USB which should not be allowed. So, these small, small things we keep on explaining them. And as well as why we deliver any of the products. So, how secure it should be the product. We bring on those controls either environmentally, voice or a consumer who operate those products and keep educating consumers who the employees who are working on the side of the city. Because as we have to say, hackers are always hired. So, we have to keep those types of those additional aspects. So, I think that's the main agenda of the interior design. And banks are always sitting in the glass houses and any small fraud happens, it becomes a reputation risk for us. So, it's very important for us which we're going live. We have to really keep it safe. We may attend to this ethical hacking also on our apps. And once you certify it, we are quite confident of okay, this is an hack-proof app. But it's a journey and hackers are always hired. And we have to keep tightening our networks and the areas where physical security, your project is network security. And if it's difficult to employ the part of the infection, what they do, what they do not do. So, that's one very, very easy thing to do. You had a little... Cyber security, yes. So, cyber security is also, I mean, it's very important in the QSR as well. And largely, two perspectives, first because of all the customer data that we have. And just, and the second is the reputation risk. I mean, for us also, it is becoming a global agenda. There are a lot of trainings and guidelines and I mean, we can't, everything has to be certified by designated vendors which is globally appointed. So, yeah, so a lot of focus on cyber security, as I said, largely through the operational risk. They said in the world that any digital transformation process is essentially the process of change management. It has to change your people, your process, your policy, strategy, structure, and finally, competitive dynamics. Now, all these changes in your planning process cannot be possible to be achieved in the first row when you are in the drawing board. When you, if you have to go back to the drawing board for the second time, it becomes a very cost-involving process. So, my question to both the panel members is, what are your directional guidelines for a company to be successful in digital transformation for these six items? People, process, policy, strategy, structure, and competitive dynamics. I think that the directions for a company to get involved. So, as you rightly stated, we expect people to look at the digital process technology and as well as one more, I think regulation and the external partners and I think we get consumers. So, any deeper transformation, do we have any example? I want to transcom my organization, bring on some technology like AI or blockchain. So, I need to really see what is that needed. Do we have that kind of a speed-set of people available in our organization? Not either at this scale, internal people or bring on new people and create the right governance and after creation of right governance, identify which are the processes we want that, or which are the use cases. Thirdly, I can bring the crypto back without, I can really change complete UPI or complete the financial ecosystem, but does that the right use case? Or does that the right process have to change? So, look at what are the primary benefits point to my consumers, whatever investment which I have done so far on people's process and what I want as a business partner for the consumers. If it is achieving through the adoption of blockchain, I will do that. But either I really want to get on UPI and this thing, I will not. I will do something which is an experience where blockchain is not even. I will do it somewhere where trust is required and there's some process like regret finance or some process in reconciliation, which is a part of the financial system. I need to do the right use case as a priority and build those small QC's and with the blockchain technology or some other RJ technologies and then get into, does that regulation be supporting or not? I would say tomorrow I come up with a solar point or a wind point or another wind point. But regulation says it's not supported at least in the Indian context. But regulation always says that blockchain is supported. So bring on the right set of use case in align with the regulation and ultimately see whether what process I'm changing with the solution is helpful for my internal or external consumers. So, to support that strategy, I will look at this right in fact, people's process, technology, regulation and partnering and finally consumer as an actor. So partnering, as I say, why partnering also a lot of policies and a lot of frameworks I have to create with the partnering with the architects, which was not available that year. So, part of the project not only take me to part industry but whether that project is going to sustain for next few years. So, because the new things are now coming up. So, just to support itself like transformation, this is definitely like changing your engine while you're driving, you're driving, flying your airplane. So, it's a very difficult journey. But when, company organization has the same agenda. So, it becomes so easy and we have seen that. Will you like to show some light and competitive dynamics to be successful through digital transformation? Yeah, so I think I want actually one element of the confidence dynamics would be consumerizing. So, if I will change a little bit, I'll set the consumer angle of it, right? So, I think when we are choosing digital technologies and implementing those digital technologies and the pace of it, we are also thinking about whether our consumer will be able to absorb that with change or not. Right? So, for example, if I'm, you know, let's say today I'm actually, let's say launching two more channels, right? I've already launched X already, now I'm thinking of two more. So, we're trying to at least pace it out that actually it is not something which the consumers cannot absorb. Because otherwise the consumers can't internalize and absorb that level of pace of change that is coming from the brand, that change is of no use either. And obviously, competitive dynamics, obviously, I don't think we actually look that much like, okay, so much power and X competitor has done this now. Actually, it's not a race for us, it's not a FOMO that we will follow. But it's more, I think, see, everybody has their own journey. As long as, see, we are actually, because stepping back, I mean, KFC actually doesn't have a direct competitor product. And we are actually competing on the share for it, right? So, when we choose technologies, we choose what's best for us and our consumers, which will actually bring more business and the incremental transactions to us. So, competitive dynamics, yes, in a way, it is there, but there are some areas we can be given it, there are some areas we can't. So, we don't keep that much as a let's, maybe choose this one. So, we will keep that for history. To certain extent, yes, but not entirely. Because, see, it depends also, right? So, it could be that my competitor X is actually investing very heavily on the back of the house to digitize the entry management and all the booking that is happening or the auditing that is happening, right? So, it depends on where they are in the journey, right? So, what, from our perspective, we have to see where they are in the journey. If we become a late entrant or I'm already ahead of the curve, then, I mean, I have to choose what's best for me and for my consumer and where I want to put my hands on. So, because I said, we are competing in the share of the wallet, not exactly the product competition, I said. No, I'm sorry, thanks a lot. That's a, due to the cost of your time, you're not taking questions, but I think that was a great answer and I think as global organizations, probably you've taken the first mover advantage of bringing innovation, architecture, within your organizations to bring the change and the digital world they require. So, I'm sure we know that we're always happy to sort of care about stories that are changing the business and the way it is being conducted and how the sector is going to be represented eventually by all of this. And, you know, I guess as we go forward, he is, they're probably not just through what we have, many more digital changes and transformations like this, this, I can't even say that. Thank you very much for joining us, I just want to thank you so much for your questions. Thank you very much, please.