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Is Smart Manufacturing a Better Path than Mechanical Engineering or a Dual Degree in Mech&AI Robotics?

Aasif Ahmed Khan

Aasif Ahmed Khan   |151 Answers  |Ask -

Tech Career Expert - Answered on Jul 30, 2024

Aasif is a mechanical engineer with 16 years of experience, specialising in maintenance, troubleshooting, planning, training and creating documents. He currently works as a manager at Rashtriya Chemical and Fertilizers Ltd in Mumbai.
Aasif is passionate about guiding students and aspiring engineers as they aim to choose the right educational paths, including courses and colleges.
He holds a bachelor's degree in mechanical engineering from the Indore Institute of Science & Technology in Indore and is currently pursuing a master's degree in thermal and fluid engineering at the Indian Institute of Technology, Mumbai.... more
Asked by Anonymous - Jul 26, 2024Hindi
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Respected sir,Is Smart manufacturing better option than,Mechanical,Dual degree Mech&AI robotics?

Ans: Ideal for tech enthusiasts who want to revolutionize manufacturing processes.
Smart manufacturing (SM) involves using advanced technologies like the Industrial Internet of Things (IIoT), artificial intelligence (AI), robotics, and more to optimize manufacturing processes. It involves a network of interconnected machinery and sensors that collect and share data, enhancing machine vision, inventory tracking, and process optimization. To figure out real-time data analysis to identify patterns and trends in production processes. To get Improved agility, adaptability, and competitiveness for companies.

Suitable for those who enjoy designing and building physical systems.
Mechanical engineering focuses on designing, analyzing, and manufacturing mechanical systems and devices. It has diverse applications in industries like automotive, aerospace, energy, and robotics. Mechanical Engineering needs strong foundation in mechanics, materials, and design principles. However, traditional field with well-established career paths.

Combines mechanical engineering with AI and robotics. Exciting opportunities in automation, robotics, and AI-driven systems.
Skills Needed: Blend of mechanical engineering, programming, and AI expertise.

Perfect for those passionate about combining mechanical engineering with AI and robotics.
Encourage your son to explore his interests and consider where he sees himself making a meaningful impact. Each path has its own merits, and he can choose based on his passion and long-term goals
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I am 44 years old, married with a monthly salary of 4.5 lakhs after tax. I own a debt-free house. My daughter is 9 and my son is 4. I am looking to build a corpus of 2 crores for my children's education, 1 crore for their marriages, and to buy two additional houses. I also aim to accumulate a retirement corpus of 10 crores. Please advise on how I can achieve these goals in the next 10-15 years. Current Savings: • Fixed Deposit: 16 lakhs • Shares: 72 lakhs • Provident Fund (PF): 1.4 crores • Mutual Funds: 15 lakhs • Public Provident Fund (PPF): 10.5 lakhs • ULIP: 21 lakhs Ongoing Investments: • ULIP: 3 lakhs/year (for the next 3 years) • PPF: 1.5 lakhs/year (for the next 8 years) • Provident Fund (PF): 82,000/month Including company contribution. • Mutual Fund SIP: 60,000/month • Shares SIP: 30,000/month • Additional Shares Investment: 5 lakhs/year
Ans: Your current savings add upto 2.745 Cr.

Assuming you keep them invested and considering composite moderate return of 8% this will grow upto a sum of 8.71 Cr after 15 years.

Ongoing investments will lead you to a corpus of 6.66 Cr after 15 years(Appropriate conservative returns considering the various investment instruments)

6.66+8.71=15.37 Cr

Retirement corpus goal 10 Cr?
Children education fund goal 2Cr?
Children wedding goal 1Cr?
Additional home(2) buy 2Cr?

Keep reviewing and rationalising your stock holdings and hedge it if necessary as per advice from investment advisor.

Consider SSY in the name of your daughter (8.2% currently with quarterly review by GOI)since it's an E-E-E tax exempt scheme.

Do consider suitable family floater health cover apart employer group coverage.

You may follow us on X at @mars_invest for updates

Happy Investing

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