New Delhi: Country's fourth-largest software services firm HCL Technologies Wednesday said it will collaborate with global tech giant IBM to jointly develop solutions for Internet of Things (IoT).


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They will focus on specific verticals, including industrial, manufacturing and smart facilities to co-develop solutions around 'Connected Products and Operations' like remote monitoring, smart inventory management, smart building and facilities management, a statement said.


The two companies will also set up an incubation centre in Noida to develop these solutions for the chosen industries, it added.


IoT is described as a network of inter-connected devices that can be accessed through the internet.


For instance, with IoT, street lights will automatically go off when they sense no traffic on the roads and consequently, save power. Another application could be a smart band that will automatically alert a physician when body vitals go to abnormal levels.


Through the joint efforts, the two companies will enable seamless integration of device, connectivity, data platform and analytics for organisations globally to address complex enterprise and industrial IoT challenges, the statement said.


"The intersection of employees, data and technology enabled intelligent machines is creating fundamental shifts in enterprise business models, leading to not only increased productivity and efficiency but also opening a plethora of new revenue opportunities for companies," HCL technologies EVP (Engineering and R&D services) and Head (IoT Business) Sukamal Banerjee said.


The partnership with IBM will provide replicable use cases for companies and enable accelerated adoption of IoT within and across industries, he added.