Technology has enabled India to grow multi-folds
At the recently concluded Excon 2019 in Bengaluru, the 10th edition of South Asia’s leading construction equipment trade fair, a conference on “Artificial Intelligence IOT & Automation” was concluded.
At the conference, Kris Gopalakrishnan, Chair, CII AI Forum & Chairman, Axilor Ventures, said, “From $180 billion economy in 1980s to over $2.8 billion economy in 2019, technology has enabled India to grow multi-folds. India has one of the largest IT talent base with over 45 lakh technology professionals that can ensure the development of all the sectors. With the right approach and great platforms like Excon 2019, we have the opportunity and potential to lead the world in technology.”
The session focused on the paradigm shift from machine training through programming to achieve automated solutions with AI and IoT under the Industry 4.0 wave. The Industry 4.0 revolution has witnessed a convergence of digital computing, telecommunication revolution and increased use of sensors. These technologies have enabled the industry with easing and simplifying the processes leading to improved productivity and quality.
Pratik Kumar, Chairman, Task Force on AI, IoT& Robotics & Chief Executive Officer, Wipro Infrastructure Engineering, said, “The 10th edition of EXCON with the theme, Smart I-tech – Next Gen India@75 has thrown light on the role of technology as a change-agent in the construction & equipment industry and factors responsible to accelerate the industry’s pace. The advent of technology has touched our lives in multiple ways. And, it is no surprise that even in this sector the products and services are creating new experiences for all of us.”
With technology growing and innovating year-on-year, most industries have been affected by some sort of industry disruption. Companies that have chosen to shake things up and try new things have proven to be a major success, but what about the construction industry? In the past decade, the construction industry has seen many changes, from the construction materials used, type of builders, to methods used to design and build new facilities – all because of advancements in technology. Technologies such as AI, IoT and automation are making a great impact due to its future possibilities in the whole construction process.
With digital computers bringing automation in tasks and processes, the construction and construction equipment industry has seen a significant improvement in terms of project turn-around time for completion, quality of products, safety of the labor and cost effectiveness of the projects. These technologies are backed by data and have further helped the AI and ML to provide more precise and enhanced solutions. These solutions will empower India to grow multi-folds in the next 15 years.