According to Vedanta, it expects to generate $300-400 million in value over the next three years through the large-scale deployment of artificial intelligence (AI) led industrial technologies across its businesses.
The company stated that initiatives led by V-Spark DeepTech Ventures have already delivered value creation amounting to nearly four times the return on investment (RoI).
Vedanta added that it is continuing to expand the use of AI, predictive analytics, industrial internet of things (IIoT), digital twins, machine learning, industrial data platforms, intelligent automation and connected manufacturing technologies across its operations.
As part of the initiative, the group plans to engage with more than 1,000 startups through V-Spark to strengthen an innovation ecosystem focused on AI, industrial digitalisation, sustainability and next-generation manufacturing technologies.