In a bid to share insights and brainstorm the extensive application of Vision & AI, results of their deployment in key projects, opportunities to commercialise the technology and potential market issues towards Industry 4.0, IIT Madras Research Park (IITMRP), on Tuesday conducted a day-long event.
A press release from IITMRP noted that the event brought together technology experts, institute faculty and startups.
Prof Ashok Jhunjhunwala, President – IITMRP, IITM Incubation Cell (IITMIC) & RTBI, noted that the 10X programme of the research park IITMRP has a goal of taking certain R&D efforts in India to scaled commercialisation, such that the products developed in India generate a revenue of INR 1,000 crore per year.
Additionally, IITMRP also released a Technology Validation Report of IITMIC incubatee Detect Technologies, extensively focusing on the application potential and commercial viability of the technology and solutions developed by the startup.
The report takes an in-depth, high-level assessment of Detect’s cutting-edge Industrial AI platform to determine the potential commercial viability of their Vision and AI technology and solutions.
Incubated by IITMIC, Detect is one of the companies identified under IITMRP’s 10X initiative - R&D to scaled commercialisation.
Highlights of the report include an overview of the technologies used, results of their deployment in key client projects, opportunities to commercialise the technology and the potential market issues the technology may face in gaining market access. The indigenous technology, developed with the support of the R&D ecosystem at IITMRP, is now being deployed globally across various industrial sectors to enhance industrial efficiency.
Detect has carried out R&D and come up with products which monitor the processes of a largescale manufacturing industry using cameras, infrared cameras, ultrasonic sensors and drones, Prof Jhunjhunwala said, adding that the data is then procured using AI technology developed at Detect to comprehend the operations at the plant on a real-time basis.
“It generates the alerts, and the action plans to ensure the optimal functions. IIT professors have carried out a study on this technology, and it is found to be strongly valuable, he added.