Industries around the globe are in the throes of digital transformation, so-called Industrial Revolution 4.0, that is enabled by growing technologies such as Intelligent robots, smart sensors, autonomous drones, 3D printing, to name a few. Industries are introducing innovative services and digitizing their essential processes to enhance their product portfolio. Such transformation will enable industries to become digital enterprises with physical products at the core, augmented by digital interfaces and data-based, innovative services. We plan to carry out research and development work to address the challenges in embracing this digital transformation by industries such as reliability/stability in machine-to-machine communication, security issues and general reluctance. We also plan to facilitate the local industry in realizing the significance of industrial revolution and digital transformation. We are also working on the training of industry personnel to carry out data analytics and data-driven mathematical modeling employing the advanced signal processing, machine learning and artificial intelligence based methods.