(Finance) – “The 2024 will be a year of continuous transformation towards our goal of 2026: we will probably see the Edge AIoT business exceed 50% of total turnover, a fundamental step as it will officially mark the change compared to our legacy business of customized embedded computers”. This was stated in the letter to shareholders Paul Chawla, CEO Of Eurotecha company listed on Euronext STAR Milan that designs, develops and supplies Edge Computers and solutions for the Internet of Things (IoT).
“The run-for-cash management mode of the embedded business has moved into a second phase at the end of 2023, as we have downsized our operational structure in the United Statesto adapt to the fact that some legacy activities are disappearing and have not been replaced by new custom embedded projects, waiting for the new Edge AIoT activities to develop – he explains – Advanet remains an exception in Japanwhere the embedded business still has a role with interesting margins, taking into account the local industrial environment.”
“Looking at the medium-term future, theEdge AI is set to become increasingly important in the digital market in the coming years – says Chawla – The fusion between IoT and Edge AI will occur gradually, transforming into Edge AIoT. This cross-pollination of the two technologies will bring greater benefits, as IoT collects the data that Edge AI needs and Edge AI extracts further value from IoT data. Ultimately, this delivers a greater return on customers’ investments in digital infrastructure. A significant part of this evolution will happen at the Edge, where we operate. This is an evolution that requires greater cybersecurity, solutions that are easier to implement and deploy at scale and the need to remotely manage updates to operating systems, firmware and AI applications installed in the field. This is exactly what we are capable of doing and what our transformation is preparing us for.”