Through its existing construction, manufacturing businesses and EPC, L&T has made one of the biggest deployments of IoT, AI and analytics in the industrial segment
Indian multinational company Larsen & Toubro (L&T) has announced a new strategic initiative – L&T-Nxt that will focus on the emerging technologies to meet the expectations of new age industry.
In accordance with the expectations of new age industry, the new initiative will focus on the fields of Internet of Things (IoT), artificial intelligence (AI), virtual reality (VR), augmented reality (AR), cyber security and geo‐spatial solutions, as well as leveraging the experience that the company has garnered over the decades.
While referring to the concerted and sustained efforts of the company in embracing digitalisation, S.N. Subrahmanyan, Chief Executive Office and Managing Director, L&T, said, “Disruption has become the new order and as we embrace new and frontier technologies, our businesses are leapfrogging into entirely new realms powered by the tremendous benefits of digitalisation and analytics.”
“We are committing significant investments and talent into this strategic effort and are confident that this will be an enabler for business,” he added.
Converting operational matters into smart
Through its existing construction, manufacturing businesses and EPC, L&T has made one of the biggest deployments of IoT, AI and analytics in the industrial segment by shifting most operational matters such as finance, labour, human resources, plant, material, etc., into affordable, efficient and smart solutions.
J.D. Patil, Senior Executive Vice President (Defence Business) and Member of the Board, L&T said, “With the lines between the physical and digital blurring, Industry 4.0 is being founded. We see new technology businesses and sunrise enterprises as prime constituents with the latent upside for rapid and substantial value creation.”
Having reached a crucial juncture in its developmental cycle, the company is training its sights towards speeding up its top line and bottom-line growth. At the same time, it is expanding its value creation potential by embracing a fresh mind‐set and developing a new structure ground up.