EDII and Infibeam Avenues partner to boost AI adoption for businesses

Story by  ANI | Posted by  Vidushi Gaur | Date 24-06-2024
India to boost AI adoption for businesses
India to boost AI adoption for businesses



Infibeam Avenues Ltd, has embarked on a transformative initiative in collaboration with the Entrepreneurship Development Institute of India (EDII), Ahmedabad.

According to the exchange filing, this Memorandum of Understanding (MoU) aims to accelerate the adoption of Artificial Intelligence (AI) across enterprises, start-ups, and MSMEs, positioning EDII as a pioneer in integrating advanced AI technologies.

EDII, established in 1983 as a national resource institute for entrepreneurship education and innovation, enjoys sponsorship from leading financial institutions such as IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd., the State Bank of India (SBI), and the Government of Gujarat.

Under the MoU, Infibeam Avenues Ltd has successfully implemented its THEIA Platform, an advanced video AI Developer Platform, at the EDII campus in Gandhinagar. This deployment equips EDII's students and entrepreneurs with cutting-edge tools to develop AI-driven products using THEIA, enhancing business efficiency and capabilities.

Dr. Sunil Shukla, Director General of EDII, emphasized the strategic alignment of this collaboration with EDII's mission to foster innovation and entrepreneurship.

"By integrating advanced AI technologies  like  the THEIA Platform and AI Facility Manager at EDII,  it will equip our  students,  start-ups, and MSMEs with the tools they need to thrive in a digital-first world. This partnership not only enhances the learning experience at EDII but also empowers entrepreneurs to leverage AI for sustainable growth and business excellence. EDII  &  Infibeam  Avenues  Ltd  will  pave  the  way  for  a  future  where  AI  and  digital  solutions  are  integral  to entrepreneurial success," commented Dr Shukla.

Infibeam has introduced its AI Facility Manager at EDII, which initially focuses on integrating datasets and visual data from campus CCTVs to monitor entries and exits.

This facility management tool is designed to evolve into a comprehensive system covering security management, resource allocation, occupancy monitoring, and more, thereby enhancing operational efficiency across the institute.

Rajesh Kumar, CEO of Phronetic.AI, Infibeam Avenues Ltd's AI business unit, highlighted the significance of AI in campus operations.

"Phronetic AI stands unrivalled in empowering organizations to seamlessly integrate the principles of activity-based management into their daily operations, unlocking unprecedented operational efficiencies. The AI Facility Manager is  a  game-changer  for  campus  management  teams,  prioritising  issues  and  identifying  deviations  from  standard procedures  swiftly,  thus  driving  heightened  efficiency," stated Kumar.

Infibeam Avenues Ltd, through this collaboration, aims to provide EDII with comprehensive technological support, including infrastructure and expertise in developing AI solutions tailored to various industry needs.

Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, underscored the strategic objectives of the collaboration.

"This collaboration aims to inject a dynamic factor into entrepreneurial ventures by integrating AI and tech solutions. In the future, only those entrepreneurs who embrace digitalization and Artificial Intelligence as integral parts of their business operations will  thrive  and  achieve  sustainable  growth. And  this  collaboration  aims  to make  them  future ready," Mehta affirmed.

The MoU outlines specific programs including the Start-up Accelerator Programme, AI Implementation Programme, and MSME Support Programme, designed to nurture innovation and accelerate AI adoption among start-ups and MSMEs.

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Infibeam will also implement 'EDII Campus Solutions' encompassing digital monitoring and AI-driven security measures for enhanced operational efficiency.