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Indian Institute of Technology (Jodhpur) Unveils AI, IoT Hub

Image credit: VPSecretariat; Twitter

The Indian Institute of Technology in Jodhpur (IIT-Jodhpur) has announced it will launch an Artificial Intelligence of Things (AIOT) Hub. The AIOT hub is the convergence of AI and IoT with mobile communication technology (5G and beyond). It is the combination of AI technologies with IoT infrastructure in a seamless fashion to achieve more efficient AI on the edge, improve human-machine interactions, and enhance data management and analytics.

According to a news report, the hub will have three major characteristics: interconnected and intelligent devices, self-learning and self-healing human and machine workflows, and autonomous decision-making facilities with edge computing. The Director of IIT-Jodhpur stated that the AIOT Innovation Hub and the Jodhpur City Knowledge and Innovation Cluster (JCKIC) IIT-Jodhpur initiatives to connect academics with real-life and industrial-scale problems. This will enrich the innovation ecosystem of the Institute and the city as well. The organisation expects the move to trigger local industrial development through start-ups and new generation MSMEs that aim to make India self-reliant.

The establishment of the AIOT Innovation Hub at the IIT-Jodhpur Innovation Complex will help create facilities for the end-to-end design, development, prototyping, and delivery of AIOT (including photonic systems) to start-ups and MSMEs at the IIT-Jodhpur technology park. It will also create an ecosystem for the co-creation of AIOT technologies and products by IIT-Jodhpur faculty and students and industry partners. The hub will also help align business partners for the possible consumption of products ensuring viable business prospects. Further, IIT-Jodhpur proposes to set up a sensor fabrication foundry for the development of low-cost indigenous sensors. This facility will support research and development activities, as well as the production of sensors to reduce imports.

The AI market in India is expected to grow at a five-year compound annual growth rate (CAGR) of 20.2% and reach US$7.8 billion in total revenues by 2025, according to a recent report. Businesses in India are expected to accelerate the adoption of both AI-centric and AI non-centric applications for the next five years. Further, the AI software segment has the potential to dominate the market and grow from US$2.8 billion in 2020 at a CAGR of 18.1% by the end of 2025. Organisations are leveraging multiple AI applications in their customer relationship and enterprise risk management, and other operational platforms for daily management. They are also using AI to scale up supply chains. This is primarily aimed at improving return on investment (RoI) and cost savings.

Indian organisations plan to invest in AI to address current business scenarios across functions, such as customer service, human resources (HR), IT automation, and security, among others. Increasing business resilience and enhancing customer retention are among the top business objectives for using AI by Indian enterprises. About 51% of organisations are processing transactional and social media data through AI and machine learning (ML) solutions. 46% of them use unstructured or semi-structured data. With data being one of the most crucial components in an AI/ML project, businesses use a variety of databases to handle large data volumes for making real-time business decisions. Organisations must focus on getting high-quality training data for AI/ML models. The government, through educational institutes and digital initiatives, is trying to skill the workforce to meet the industry’s demand for experts in AI and other emerging technologies.

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