India’s largest tractor manufacturer Mahindra has initiated an Internet-of-Things (IoT) project by placing sensors in its vehicles to predict their potential breakdowns.
“We will have sensors in trucks and tractors to predict which part is going to fail. We’ll have a part waiting for you at a service centre on your way. You prevent breakdowns and loss of time by the driver. We can apply that in our auto business as well,” the group’s Strategy Head Anish Shah said.
IoT is a way of putting sensors in machines to collect data to improve and track their performance. The Mahindra Group recently bought a minority stake in Silicon Valley start-up Cloud Leaf, which leverages cloud computing and bluetooth smart sensors to deliver scalable location and sensor management.
It also holds a minority stake in US-based Scoot Networks, which deploys electric scooters. IoT is also being implemented in various group companies like Mahindra Finance which is undergoing significant digital transformation.
The Group is experimenting with blockchain for invoice discounting. “We see multiple technologies coming which will change the way consumers interact with us. Block-chain is the next big thing after the internet,” Shah said.