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Business Wire India - Multimedia: Digest for July 20, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Armstrong Dematic have established themselves as a leader in intralogistics & warehouse automation industry through their relentless pursuit of innovation and customer-centric solutions. With extensive research and development, they leverage cutting-edge technologies like robotics, AI, and data analytics to optimize warehouse operations. The tailored systems address unique client challenges, offering modular and scalable solutions for future growth. Supported by a team of experts, they provide comprehensive support from consultation to maintenance. Their track record of successful implementations and long-term client relationships demonstrates their commitment to delivering outstanding results. They continue to stay at the forefront by driving efficiency, reducing costs, and improving productivity for clients, solidifying their position as an industry leader.
 
According to Mr Vinit Majgaonkar, Chairman, Armstrong Dematic, "Intralogistics is poised for significant transformation. We anticipate a shift towards interconnected systems, where warehouses, distribution centers, and transportation networks seamlessly exchange data in real-time. That will be a major step towards omnichannel fulfilment. This will facilitate end-to-end visibility, enabling businesses to optimize their supply chain operations and respond swiftly to changes in customer demands. Additionally, the use of advanced analytical software and predictive modeling will enable proactive maintenance, reducing downtime and improving equipment reliability. Multiagent Orchestration Platforms will enable seamless interaction between devices and softwares alike. This integration of technologies will not only streamline intralogistics but also contribute to increased customer satisfaction and cost efficiencies."
 
Discussing the key trends that they foresee in the future of warehouse automation, Mr Vinit said that the key trends & advancements will be centrered around omnichannel fulfillment and multi-agent orchestration platforms. He mentioned that the growing demand for seamless customer experiences across multiple channels, warehouses will increasingly focus on integrating their operations to handle e-commerce, brick-and-mortar, and hybrid models efficiently. Leveraging advanced technologies such as AI, machine learning, and robotics, apart from ASRS, sortation and video analytics, warehouses will optimise inventory management, order processing, and fulfilment. Multi-agent orchestration platforms will enable real-time coordination and collaboration among various automation systems, ensuring smooth workflow orchestration and maximising operational efficiency. This integration will enable warehouses to adapt swiftly to changing consumer demands and maintain a competitive edge in the evolving market landscape.

He went on to talk about the challenges that companies may facewhen implementing warehouse automation solutions, and suggested ways to overcome them. He suggested that, maintaining flexibility and adaptability is crucial in the face of evolving customer demands and market dynamics. Companies should consider scalability and modularity when selecting automation solutions, allowing for easy expansion and reconfiguration as business needs change. Legacy systems may not be compatible with new technologies, requiring careful planning and coordination. By engaging experienced automation partners, companies can leverage their expertise in system integration, ensuring seamless interoperability between existing and new systems. Workforce resistance and skills gaps are additional challenges that organisations may face. Addressing these concerns through transparent communication, training programs, and upskilling initiatives can help employees embrace automation as a tool to enhance their roles and productivity. Lastly, data security and cybersecurity pose significant challenges in an automated environment. Protecting sensitive data, securing networks, and implementing robust cybersecurity measures are imperative. Armstrong Dematic uniquely crafts solutions keeping in mind the above challenges faced by their customers.
 
When asked about how does Armstrong Dematic aim to stay ahead in this rapidly evolving landscape of warehouse automation and intralogistics, he said, "Staying ahead in this dynamic industry requires continuous innovation and a deep understanding of our customers' evolving needs. Our company is committed to investing in research and development to bring forth new and improved solutions and has a dedicated team for New product development. We believe in building strong relationships with our customers, understanding their pain points, and providing tailored and uniquely crafted solutions to meet their requirements. Furthermore, we prioritize building a team of experts with deep knowledge and experience in warehouse automation and intralogistics. Our team stays up to date with the latest industry trends and advancements, enabling us to provide cutting-edge solutions and valuable insights to our clients. Through these strategies, we aim to not only meet but exceed the expectations of our clients, helping them optimise their warehouse operations, reduce costs, and gain a competitive edge in the market. We are dedicated to being a leader in warehouse automation and intralogistics, driving innovation and setting new standards in the industry."
Business Wire India

A tool to help regulators detect potential suspects of insider trading created by students of Nanyang Technological University, Amity University, and Dwarkadas College of Engineering took the top student prize at the third edition of the Singapore-India Hackathon, jointly organised by India's Ministry of Education's All India Council for Technical Education (AICTE) and Nanyang Technological University, Singapore (NTU Singapore).
 
In a message from PM Modi, he said, "The mantra of the G20 Presidency, 'One Earth, One Family, One Future', is Vasudhaiva Kutumbakam. The Singapore-India Hackathon is an initiative that encapsulates this noble thought."
 
India's Minister for Education, Skills Development and Entrepreneurship, Mr Dharmendra Pradhan, and Singapore's Deputy Prime Minister, Mr Lawrence Wong presented the prizes to winning teams of the student and start-up categories.
 
Minister Pradhan highlighted at the awards ceremony: "Singapore is a knowledge-based economy. It has transformed itself through knowledge and excellence in education in the last 30-40 years. Through NEP 2020, India has made great strides in becoming a knowledge-based society. Close collaboration through initiatives like Singapore-India Hackathon would help in knowledge transfers between our two countries."
 
Singapore is now the highest foreign direct investor in India with investment of US$137 billion accounting for roughly 25 per cent of its overall foreign direct investment inflow. More than 10,000 Indian companies are registered in Singapore, making India the number one source of foreign companies in Singapore.
 
Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, Singapore stated: "The Singapore-India Hackathon is unique and precious. It is supported by the leaders of both the countries and is conceived from PM Modi's vision The Hackathon brings our best youths and minds to solve global challenges together."
 
The Prime Minister of India, Shri Narendra Modi, initiated the first Singapore-India Hackathon in 2018 on an official visit to Singapore, with the past two events held in Singapore in 2018 and India in 2019 at IIT Madras.
 
Ms Preeti Dawra, Director, Global Marketing & Strategy, Nanyang Technological University, highlighted what was special about this year's Hackathon: "Support from the highest levels for the Singapore India Hackathon is emblematic of the growing ties between the two nations. Nanyang Technological University along with Indian Ministry of Education brought together the most talented student and startup community of Singapore and India to compete and collaborate to find innovative solutions for boosting climate action, financial inclusion and trade connectivity. Given the the impressive expanse of our partners from the public and private sector, and the profile and prestige of this event, it got included as one of the showcase events of India's G20 Presidency that underscores Singapore-India friendship and ties."
 
Partners of the Singapore India Hackathon 2023 include the Monetary Authority of Singapore, DBS Bank, TATA AIA Life Insurance, CII, Enterprise Singapore, Indian Scholars Association, NTUitive, Singapore Fintech Festival, IIT Gandhinagar, TiE Singapore, AIA, the High Commission of Singapore in New Delhi, and the Consulate-General of Singapore in Mumbai.
 
Mr Surojit Shome, DBS India CEO, and sponsor said: "We are proud to partner with NTU and be a part of the Singapore India Hackathon 2023. DBS Bank has sponsored two unique challenges in the Hackathon, one on facilitating cross-border trade for SMEs and the other on solutions for sustainably achieving zero food waste. Coinciding with India's presidency of the G20 this year, this association underscores DBS Bank's commitment to fostering increased collaboration between Singapore and India."
 
This year's Singapore-India Hackathon brought together research-intensive academic institutions like NTU Singapore and IIT Gandhinagar and leading corporates and the public sector from both nations to mentor the aspiring entrepreneurs.
 
NTU Vice President (Industry) and Hackathon Patron Professor Lam Khin Yong noted, "NTU broadened the tent this year and brought together some of the most prestigious private and public sector partners in Singapore and India in our Triple Helix Partnership model involving academia, industry, and public agencies. These diverse stakeholders can support our students and start-ups in the creation of impactful solutions that can stand the test of the market." 
 
Singapore India Hackathon brought together some of the most talented start-ups (12 from India and 12 from Singapore) and students (24 from Singapore and 24 from India in teams of 4 comprising of two students from each country) to compete and collaborate in innovating solutions for climate change, financial inclusion, and trade connectivity. In the start-up category, Haqdarshak, won for enabling 2.8 million Indians to unlock close to S$700 million in government welfare services. Singapore students from Nanyang Technological University and a wide range of higher education institutions from Singapore and leading institutions from all over India won in the student track. The top three student teams won S$15,000/ INR 9 lakh, S$10,000/INR 6 lakh, and S$7,000/INR 4 Lakh respectively. The top three start-ups, Haqdarshak, Pawsible Food and Pints, won S$20,000/INR 12 lakh, S$15,000/INR 9 lakh, and S$10,000/INR 6 lakh respectively.
 
Mr. Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore explained how this Hackathon provides an ideal platform for building a holistic ecosystem for start-ups: "India has great capacity and capability of talent, and Singapore has enormous capital. When you combine the three, you have a winning formula."
 
Mr. Venky Iyer, President and Chief Distribution Officer, TATA AIA Life Insurance and sponsor, said: "We are excited to be a part of the Singapore-India Hackathon, which aims to find innovative solutions to global and locally relevant issues of environment, financial inclusion and sustainability."
 
The grand finale jointly hosted by Nanyang Technological University Singapore, one of the world's leading universities and Indian Ministry of Education's AICTE was attended by over 600 students, start-ups, investors, policymakers, corporates, and academics at IIT Gandhinagar.
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