Digital Business Transformation:

Larsen & Toubro (L&T) on March 29 announced a new strategic initiative called L&T-Nxt, focusing on areas such as artificial intelligence (AI), Internet of Things (IoT), virtual reality, augmented reality, geo‐spatial solutions and cyber security.

As part of L&T-Nxt initiative, the management of India's largest construction and engineering firm will focus on incubating and scaling business verticals, mapping the landscape, formulating the road ahead and achieving the stated goal with go to market solutions.

L&T through its current engineering, procurement and construction (EPC) and manufacturing businesses has been deploying IoT, analytics and AI in the industrial sector by digitalising most operational matters such as finance, human resources, labour, plant and material.

"Having reached a critical juncture in its developmental cycle, L&T is training its sights towards accelerating topline and bottomline growth. At the same time, it is expanding its potential for value creation by adopting a fresh mindset and building a new structure gr