LTTS

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global engineering services company, announced today that it worked with Intel Corporation to develop an outdoor smart parking solution. The solution is powered by the Intel distribution of the OpenVINO Toolkit to run AI inferencing models on Intel Xeon scalable processors and Intel Movidius VPUs. With edge AI capabilities, the solution aims to redefine the outdoor smart parking experience in public areas across the globe.

Designed for a cloud-enabled world, the solution has four key components: an operator portal that hosts user information; a mobile application for end-user interface; a digital signage module to ensure safe and secured access; and a digital camera - all connected by the AWS cloud platform. This architecture helps end users easily locate available parking spaces in outdoor parking lots.

The solution, which does not require sensors, can cover thousands of parking spots. Some of the key features include offering users a personalized experience through the app, enabling reservation of parking spots and real-time occupancy tracking, and providing parking insights via an AI-enabled surveillance for operators through augmented video analytics.

The smart parking solution can be installed in parking areas in airports, stadiums, shopping malls and office campuses.

Amit Chadha, CEO & Managing Director, L&T Technology Services, said, “Technology and engineering services have the potential to not only enable business benefits but also empower organizations to proactively enhance environmental, social and governance related pursuits. With the density of urban environments resulting in wastage of fuel that runs into the thousands of liters every day, such an intelligent solution can help overcome a myriad of issues faced by industry. Using technologies from a global technology leader like Intel, we look forward to further opportunities to introduce disruptive innovations for the larger benefit of humankind.”

LTTS’ acclaimed smart campus framework i-BEMS is a state-of-the-art building management platform that helps to redefine the future of work by enabling continuous and interconnected intelligent systems based on cutting-edge digital technologies such as IoT, Machine Learning and Predictive Asset Management.

Jonathan Wood, Senior Director, Next Generation and Standards, Intel Corporation commented, “This latest edge AI based parking innovation is a natural extension of LTTS’s product portfolio leveraging Intel technologies. Their use of Intel solutions, in the area of smart venues and buildings, further serves as a commitment to consistently introduce disruptive technologies to help Enterprise realize efficiencies from digital transformation.”

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,400 employees spread across 17 global design centers, 28 global sales offices and 69 innovation labs as of March 31, 2021.

For more information please visit https://www.ltts.com/

Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

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