Kishore Biyani led Future Group has announced the launch of Future C&D Lab in Bangalore that focuses on the consumer and digital space to bring in next generation innovations using artificial intelligence, big data analytics, blockchains, internet of things, robotics and allied technologies.
The research and development activities will be supported through a Rs 100 crore Accelerator Fund that will be set up to fund the operations, technology development and IPR creation by the teams working at the Lab.
“The Future C&D Lab is aimed at co-creating the next generation technologies for the consumer space in India. We are creating an open environment of collaboration and co-creation with some of the best young Indian minds who are working with new technologies to create solutions that can impact the retail and consumer space over the next couple of years,” said Founder and Group CEO of Future Group, Kishore Biyani.
The Lab brings together multiple teams and companies that are working in these areas, housed in a common, collaborative space set up by Future Group in Bengaluru. These teams and companies will have a ready access to test, experiment, and prototype their technologies across Future Group’s brand and retail platforms that serve over 1 million customers everyday.
Vivek Biyani, Director, Future Group will lead the initiative.
The team at the lab is composed of technologists, engineers, data scientists, designers and consumer specialists. It plans to run hackathons and open workshops, among other events.
It is tracking technology developments that will influence consumer experience in areas such as payments, unique consumer identification and development of one-on-one consumer conversations, analytics and predictive modelling as well as back-end functions such as supplier engagements, supply chain automation and infrastructure deployment.