India’s efforts to set up 100 Smart Cities are encouraging global electronic majors to step in for participating in these plans.
Japan’s Panasonic Corporation has realised the emerging business potential of Indian Smart Cities and is aiming to work with developers and form tie-ups with technology companies to build AI-specific solutions and IoT products in India.
Economic Times reported that it is part of the company’s plan to diversify into Internet of Things (IoT) category in India’s mobility segment.
This segment will play a vital role when Smart Cities are commissioned.
“We largely focus on both IoT and (artificial) intelligence (AI). We want to create an ecosystem of smart connected and energy efficient products,” Panasonic India president Manish Sharma told ET.
“The global push is also in the direction of AI… soon, there will be significant diversification of product category, in the mobility domain,”
The company plans to develop new IoT products and solutions based on AI at its newly launched India Innovation Centre in Bengaluru. For the centre, it has lined up an investment of Rs 240 crore in five years. “A part of this investment will be utilised