Metallurgy, transportation, aerospace and petrochemicals are the sectors in India with the most potential to adopt IoT and AI-based solutions, according to Zyfra CEO Igor Bogachev
The first Indo-Russia joint projects in the field of artificial intelligence (AI) and the Internet of Things (IoT) are likely to take off this year.
Igor Bogachev, CEO of Finnish-Russian digital solutions provider Zyfra, has expressed the possibility of starting the projects in 2019 in an e-mail interview with IANS.
According to him, cooperation between Russia and India in AI and IOT will be much more than a buyer-seller relationship and will involve sharing best practices, knowledge and innovating jointly.
He also noted that metallurgy, transportation, aerospace and petrochemicals are the sectors in India with the most potential to adopt IoT and AI-based solutions.
“Innovations should become a point of growth of Russian-Indian relations. We see significant potential for introduction in such industries as construction of machine tools, mechanical engineering, metallurgy, the chemical industry and the oil and gas sector,” the news agency quoted Bogachev as saying.
Zyfra aims $50 million in India-related deals by 2021
Earlier, Zyfra announced that it has managed to reach $3 million in contracts with its Indian counterparts in 2018., and the company plans to reach the target of $50 million in India-related deals by 2021.
The company has already signed agreements with various Indian companies, including Spudweb, Abcon Group, Parivartan Automation, Agaram Infotech, Wimerasys, Nortech Trinity and Mascot Tools.
Zyfra is implementing seven pilot projects in collaboration with its Indian partners and plans to launch five more joint projects including one for production of farm machinery, another for manufacturing components for aerospace divisions of both Boeing and Rolls-Royce.
Bogachev said Zyfra last year unveiled its manufacturing data collection (MDC) plus system in India which performs real-time machine monitoring with customizable reports and charts that can be used to track jobs, parts, operations, work centres, scrap costs, downtime and people.