Business Transformation: The Synergy of AI, Edge Computing, and IoT
The CEO of MeitY- nasscom Center of Excellence, Sanjeev Malhotra, shares insights on the potential synergy of AI, IoT, and Edge computing in transforming the business technology landscape. These emerging technologies, when combined, can have a profound impact on various sectors. Here are the key points from the conversation:
Enhancing Business Technology: The combination of generative AI, IoT, and Edge computing offers significant potential for businesses. Generative AI is customisable and, when integrated with IoT and Edge computing, enables precise identification of customer needs, considering factors like geography, economic status, and local competitors. This synergy revolutionises data collection and customer understanding.
Impact on Cost Structure: The integration of these technologies is expected to reduce costs in areas like marketing and advertising. AI empowers businesses to identify potential customers and tailor marketing strategies accordingly. Cost savings can then be redirected towards upgrading overall business technology, ultimately improving performance.
Benefiting Sectors: Several sectors are set to benefit from this synergy, including healthcare, logistics, and manufacturing. Healthcare can leverage these technologies to enhance data management and user needs identification. In manufacturing, the integration of IoT and Edge computing can prompt AI-driven predictive analysis, optimising functionality and reducing costs.
Role of MeitY- nasscom Center of Excellence (CoE): The CoE plays a crucial role in helping businesses upgrade their technology structures. It supports startups dedicated to developing new-age technology by creating a collaborative environment for technology and product development. This enables users to tailor technology solutions according to their specific needs and audience demands.
Differentiating CoE from Large Tech Companies: CoE offers startups an alternative to the cost structures of large tech companies, which can sometimes be prohibitive. CoE”s approach is more cost-effective, with the average product cost being around Rs 10 lakh. It also operates on a trial basis, allowing users to cancel their product anytime. This approach is appealing to startups and aligns with India”s growing trend toward entrepreneurship and increased technology adoption.
The integration of AI, IoT, and Edge computing holds great promise for enhancing business technology across various sectors. The efforts of organisations like MeitY- nasscom Center of Excellence play a role in supporting startups and driving technology innovation to meet the evolving needs of businesses in India. This collaborative approach aims to make advanced technology more accessible and cost-effective, fostering growth and innovation in the Indian tech ecosystem.
