L&T launches Strategic Initiative to Capitalize on Emerging Technologies

L&T-Nxt to focus on AI, IoT, VR, AR, GIS and Cyber Security

Larsen & Toubro has launched L&T-Nxt to focus on the areas of Artificial Intelligence, IoT, Virtual Reality, Augmented Reality, Geo‐spatial solutions and Cyber Security. This is a strategic initiative to define the future of the organisation from a fresh perspective.

“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,” said S.N. Subrahmanyan, Chief Executive Office and Managing Director, Larsen & Toubro, in a statement released by the company. “We are committing significant investments and talent into this strategic effort and are confident that this will be an enabler for business.”

“With the lines between the physical and digital blurring, Industry 4.0 is being founded,” said J.D. Patil — Senior Executive Vice President (Defence Business) and Member of the Board. “We see new technology businesses and sunrise enterprises as prime constituents with the latent upside for rapid and substantial value creation.”

“L&T, through its current construction, EPC and manufacturing businesses, has made one of the largest deployments of IoT, analytics and AI in the industrial sector by converting most operational matters online: finance, human resources, labour, plant, material, etc,” read a statement by the company. “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 hopes to accelerate its top line and bottom-line growth by adopting a fresh mind‐set and building a new structure ground up. L&T-Nxt is a select initiative in L&T’s five-year strategic plan.