Ankita Garkoti Senior Content Writer
Senior Content Writer
The Center for Tech Excellence will play a big part in IIT Madras’s continuing engagement with MSMEs. After its successful collaboration with Kotak, IIT Madras wants to equip business owners for the future and ensure their growth.
New Delhi: The Indian Institute of Technology (IIT), Madras has established a Center for Tech Excellence alongside Walmart Global Tech (WGT).
The center was established with the aim of training micro, small and medium enterprises (MSMEs) to use Artificial Intelligence (AI) and the Internet of Things (IoT) to build and grow their businesses. An agreement for the establishment of the Center for Tech Excellence was signed on February 28, 2024.
IIT Madras has been focusing on the development of MSMEs for a year. IIT plans to form a case study of 15-20 MSMEs in the manufacturing and retail sectors that receive its help in the next three years. The case study will document the advantages enjoyed by MSMEs trained in the use of AI and IoT tools.
The Dean of Global Engagement at IIT Madras, Raghunathan Rengaswamy, provided details of the center’s focus. According to Rengaswamy, the center would provide MSMEs with AI and IoT technologies and tools, and offer solutions for implementing AI and Machine Learning (ML). He also spoke about increasing the skill levels of all those working in MSMEs to enhance their standing against international competitors.
This is the second collaboration between IIT Madras and Walmart. Chief technical and chief development officer of Walmart Suresh Kumar, remarked “First, we focused on students and research. This is the second collaboration between Walmart and IIT Madras,” on the same. Kumar is also an alumnus of IIT Madras.
According to IIT Madras Director V. Kamakoti, MSMEs make up 30% of the Indian industrial sector. All of these businesses require guidance to use technology for the benefit of their businesses. Growing a business while sticking to the UN’s sustainable development goals (SDGs) will be less of a challenge for MSMEs in the future.
“This is a kind of a venture that can be scaled to a 1.5 billion population whose needs are varied…We are introducing a common portal,” said Kamakoti. The scale of economic development will also grow through this endeavour, he added.
Latest Updates from IIT Madras:
- IIT Madras and THSTI Faridabad Jointly Develop AI Gestation Age Estimation Model; Check Details Here
Subscribe to Collegedunia to get the latest educational news and updates –
Comments