MUMBAI: Mahindra Group, India’s largest maker of tractors, has kickstarted an Internet-of-Things (IoT) project to place sensors in its trucks and tractors to predict potential breakdowns, as the auto-to-defence conglomerate seeks to ride the wave of technological disruption.
“We will have sensors in trucks and tractors to predict which part is going to fail. We’ll have a part waiting for you at a service centre on your way. You prevent breakdowns and loss of time by the driver. We can apply that in our auto business as well,” the group’s Strategy Head Anish Shah told ET.
IoT describes a world in which sensors are placed on machines and the data collected is used to improve and track performance. The group also bought a minority stake in Silicon Valley start-up Cloud Leaf, which leverages cloud computing and Bluetooth smart sensors to deliver scalable location and sensor management.
It also holds a minority stake in US-based Scoot Networks, which deploys electric scooters.
Similar to Mahindra’s IoT project, Shah has started off many such multiyear projects in different group companies. Mahindra Finance is undergoing significant digital transformation.
Shah’s office spent the last 3 months chalking out a 3-4 year plan for the non-banking finance company. It is experimenting with blockchain for invoice discounting. “We see multiple technologies coming which will change the way consumers interact with us. Block-chain is the next big thing after the internet,” Shah said.
“We have put in something with IBM that is being implemented in Mahindra Finance business. If it works out, we can set up a separate business.”
Mahindra’s Agri business is trying out precision farming, big data analytics and several User Interface and User Experience projects. The project and acquisitions are part of the larger digital transformation undertaken by Shah, who joined from GE Capital India in 2014.
He has beefed up digital talent with aggressive hiring. Shah’s strategy office recently hired Tina Singh from ICICI BankBSE 0.07 %, Vijay Basrur from Raymond and Namrita Mahindro from Taj Group.
Last year he hired Askme.com CEO Jaspreet Bindra as group senior vice president for Digital Transformation. The group is also planning to introduce a Digital Leadership Programme to create pipeline for digital talent within the conglomerate.
“Mahindra is very bullish on digital. There is a buying from the top management. They need to re-skill their employees and hire talent to champion and scale these initiatives,” said Sanchit Vir Gogia, CEO & Chief analyst at Greyhound Research.
“Eighty-eight percent of traditional businesses fear of being wiped out in 3 years. They have to reboot growth as old business models are outdated.”
Source : http://economictimes.indiatimes.com/