CMS Info Systems, an Indian cash management company, has recently unveiled its intentions to invest around Rs 50 crore in AIoT (Artificial Intelligence of Things).
According to a report in CNBC, this innovative fusion of AI and IoT technology empowers intelligent decision-making and automation. By integrating AI into IoT devices and systems, AIoT enables real-time data collection, analysis, and utilization, allowing devices to make autonomous and intelligent choices. This boosts efficiency, facilitating proactive actions for enhanced operational effectiveness.
CMS Info Systems, with its stronghold in the cash management industry, oversees an extensive network of 72,000 ATMs, commanding a substantial 40 percent market share. Recognizing the potential for transformative growth, the company has embraced the power of AIoT to maintain its competitive edge. The amalgamation of AI and IoT equips devices with the capability to independently learn and adapt to their surroundings, consequently improving efficiency and facilitating proactive measures.
Already yielding encouraging outcomes, the integration of AI and IoT technologies has significantly contributed to CMS Info Systems’ managed services segment, resulting in approximately Rs 100 crore in revenue. This substantial investment in AIoT signifies the company’s unwavering commitment to expansion and its profound understanding of the groundbreaking possibilities offered by this emerging technology. By leveraging AIoT to remain at the forefront of the market, CMS Info Systems will continue to deliver exceptional cash management services to its clientele.