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Business News/ Companies / News/  L&T announces new strategic initiative to focus on AI, cybersecurity
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L&T announces new strategic initiative to focus on AI, cybersecurity

L&T-Nxt will also focus on internet of things (IoT), virtual reality, augmented reality and geospatial solutions
  • It is part of Larsen & Toubro's five-year strategic plan
  • L&T CEO and managing director SN Subrahmanyan (Bloomberg)Premium
    L&T CEO and managing director SN Subrahmanyan (Bloomberg)

    New Delhi: Infrastructure giant Larsen & Toubro (L&T) on Friday announced a new initiative, L&T-Nxt, to focus on new-age technologies such as artificial intelligence and cybersecurity.

    L&T-Nxt will focus on areas of artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions and cybersecurity, and leverage the experience that L&T has garnered over the decades.

    "Larsen & Toubro has announced a new strategic initiative, L&T-Nxt, to define the future of the organisation from a fresh perspective. It has been identified as a select initiative in L&T's five-year strategic plan," the company said in a statement.

    The company has deployed IoT, analytics and AI in the industrial sector by converting most operational matters online, including finance, human resources, labour, plant, material etc into smart, affordable and efficient solutions.

    "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," according to S.N. Subrahmanyan, CEO and managing director, Larsen & Toubro. "We are committing significant investments and talent into this strategic effort and are confident that this will be an enabler for business".

    Capability development in some of these select verticals has been in the works under a long-term strategic plan and L&T's management is focused on incubating and scaling these business, mapping the landscape, formulating the road ahead, and achieving the stated goal with go-to market solutions, the company said.

    According to JD Patil, senior executive vice-president (defence business) and member of the board, the era of cyber-physical systems is just beginning.

    "With the lines between the physical and digital blurring, Industry 4.0 is being founded," he said. "We see new technology businesses and sunrise enterprises as prime constituents with the latent upside for rapid and substantial value creation."

    Larsen & Toubro is engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue. It operates in over 30 countries worldwide.

    This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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    Published: 29 Mar 2019, 04:10 PM IST
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