Confederation of Indian Industry (CII) and Andhra Pradesh Technology Development and Promotion Centre (APTDC) organised the IoT-AI Summit, a two-day conference, on ‘Disruptive technologies for transforming business in a digitally integrated world’ here on Friday.
Speaking at the conference Deputy General Manager of SBI D Ashok Kannan said that Internet of Things (IoT) was creating new avenues and helping in creating value to the customers. It is changing the way banking and finance was working. Artificial intelligence tools enable real time products and bring down costs significantly, he said and added that data security is the key focus for the technologists and for the banks.
Summit convenor and CII Chairman AP GS Shiv Kumar said that by 2020 it was expected to have four-billion people connected which would be driven by IoT, creating a four trillion-dollar economy and 15 trillion GB data. He stated that IoT would create lot of opportunities, impacting every single sector healthcare, automobile, construction and agriculture.
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