Mumbai: Larsen & Toubro has announced a new strategic initiative, L&T-Nxt, to define the future of the organization from a fresh perspective. It has been identified as a select initiative in L&T’s five-year strategic plan.
Thew new initiative will basically focus on the areas of Artificial Intelligence, loT, Virtual Reality, Augmented Reality, Geo-spatial solutions and Cyber Security and leverage the experience that L&T has garnered over the decades. LE&T, through its current construction, EPC and manufacturing businesses, has made one of the largest deployments of loT, analytics and Al in the industrial sector by converting most operational matters online, finance, human resources, labour, plant, material, etc. into smart, affordable and extremely 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 digitalization and analytics,” shared Mr. S.N. Subrahmanyan, Chief Executive Office and Managing Director, Larsen Et Toubro, referring to the sustained and concerted efforts of the company to embrace digitalization. “We are committing significant investments and talent into this strategic effort and are confident that this will be anenabler for business.”
Having reached a critical juncture in its developmental cycle, L&T is training its sights towards accelerating top line and bottom-line growth and, at the same time, expand its potential for value creation by adopting a fresh mind-set and building a new structure ground up.