L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering services company, was conferred with the Frost & Sullivan Indian Cognitive Automation Technology Innovation Leadership award at its 2019 India Best Practices Awards Banquet in Mumbai.
The 2019 award recipients were judged on various parameters including market share growth, product portfolio diversity, key achievements, go-to-market strategy, vertical and horizontal diversity, major customer acquisitions, efficacy of innovation process, product service and positioning.
Frost & Sullivan Awards are presented to companies that demonstrate best practices across industries. The Awards are recognition of their innovation, commitment, technological innovation, customer service, and successful business strategies required to advance in the global marketplace. Frost & Sullivan's intent is to help drive innovation, excellence, and a positive change in the global economy by recognizing best-in-class products, companies, and individuals.
Frost & Sullivan’s industry analyst team benchmarks market participants and measures their performance through independent, primary interviews, and secondary industry research to evaluate and identify best practices.
LTTS was recognized for its proprietary cognitive intelligence framework, AiKnoTM, which has been deployed globally at various customer projects. AiKnoTM was developed to host and integrate a range of intelligent solutions across multiple facets of engineering such as smart buildings, supplier management, energy optimization, documentation optimization, predictive maintenance and cognitive analytics.
As an AI platform dedicated to Industry 4.0, AiKno’s unique capabilities have the potential to change the product engineering and manufacturing landscape globally. Last year, AiKnoTM won NASSCOM’s AI Game Changer Award for its prowess in meta data extraction.
AiKno’s credentials include some of the world’s first-of-its-kind applications built on its framework – an interactive cognitive repository of geo-spatial data that was built from legacy documents for an oil and gas major. AiKno’s image processing capabilities have been used to build a pneumonia detection solution to help radiologists identify the symptoms and detect the disease in its initial phase.
Abhishek Sinha, Chief Operating Officer and Board Member, L&T Technology Services said, “AiKnoTM has the potential to change the way businesses operate by successfully navigating the industrial engineering challenges. This prestigious recognition of our AiKnoTM framework validates the potential of this technology to pave the way for new innovations and positive transformation stories across sectors. LTTS’ multi-vertical industry expertise ensures that AiKnoTM can be deployed across a range of sectors from oil & gas, medical devices, transportation, telecom to aerospace.”
Anand S, Vice President, Frost & Sullivan said, “LTTS has become a high-growth company and has gained over 250 high-profile customers within a short period of time. As a subsidiary of conglomerate Larsen & Toubro, which has over 80 years of experience in the field of engineering, manufacturing, and information technology among others, LTTS’ parentage has enabled it to devise solutions that are revolutionizing the AI and automation space across industry sectors.”
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as of September 30, 2019.