Transcript Wednesday_Internet of Things as the Antidote for Risk

The Internet of Things
as the Antidote for Risk
© 2015, Fiatech
IoT
Wonders of the Ancient World
Would data have saved these?
5.9 M tons of material
23 years to construct
Still in existence
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The IoT Antidote
Do Lead;
Don’t
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React
Walk
Then Run
Find
Some
Friends
Tell the
World
Risk Is Still Inherent
Business
Decisions
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Project Data
in Silos
Isolated
Data
Scientia potentia est
“You cannot manage what
you cannot measure.”
Peter Drucker
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Internet of Things (IoT)
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Estimated Value of IoT?
$10T–$15T
to
Global GDP
IoT
$1.9T
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•
Total economic value-add from IoT across industries = $1.9 trillion worldwide in 2020
(Gartner)
•
50 billion devices will be connected to the Internet by 2020 (Cisco)
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Remote patient monitoring market doubled 2007–2011, and is projected to double again
by 2016.
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Utility smart grid transformation will almost double the customer information system
market, from $2.5 billion in 2013 to $5.5 billion in 2020 (Navigant Research)
•
Wide deployment of IoT technologies in the auto industry could save $100 billion annually
in accident reductions (McKinsey)
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Industrial Internet could add $10-15 trillion to global GDP (GE)
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75% of global business leaders are exploring the economic opportunities of IoT (The
Economist)
•
UK recently approved 45 million pounds (US $76.26 MM) in research funding for IoT
technologies.
•
Cities will spend $41 trillion in the next 20 years on infrastructure upgrades for IoT (Intel)
•
Number of developers in IoT activities will reach 1.7 MM globally by the end of 2014, (ABI
Research)
Auto
Industry
Savings
$100B
Cities
investing
$41T
Myths and Truths About IoT
Myth
Truth
IoT is mostly about wearables and
connected homes
70% – 80% of total value lies in enterprise
applications
IoT is a futuristic technology
In many industries (eg, GE aircraft engines),
IoT concepts have been used for 20 years
IoT is an expensive and highly
speculative undertaking
Most IoT business cases are driven by cost
savings and investment is relatively limited
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Most of IoT value will be captured by
solution providers in the high-tech sector
The vast majority of value (80% – 90%) will
be captured by users across other verticals
McKinsey. Internet of things: a perspective. Dec 2014.
The IoT Big 3
1. Make Money
• New revenue streams, products & services
2. Save Money
• Efficiencies, productivity & cost savings
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3. Regulatory Compliance
The IoT Solution Gap
Customer
Data Services
Hosting
Data
Store
Device
Applications
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Device
Management
Sharing
CAUTION
Mind the Gap
Reporting
Scripting
Historical
Data
Analytics
Pain Points in the IoT Solution Gap
Customer
Data Services
Hosting
Data
Store
Device
Applications
Sharing
Historical
Data
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Device
Management
Reporting
Scripting
Analytics
Data Service Exchange™ for Connected Device Platforms
Connected Device Platform (CDP)
Device
Device
Device
Management
Device
Management
Device
Device
Device
Management
Gateway
Applications
Reporting
Data
Store
Sharing
Historical Data
Device
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Hosting
Scripting
Analytics
Device
6 categories illustrate the breadth of potential
IoT applications…
Tracking behavior
Enhanced situational
awareness
Sensor-driven decision
analytics
Optimized resource
consumption
Complex autonomous
systems
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Process optimization
McKinsey. Internet of things: a perspective. Dec 2014.
Example – The Smart City
• Citizens benefit from
a reduction in travel
time, better
emergency services,
less frequent
electricity outages,
etc.
• Direct citizen savings
(e.g., fuel cost,
water bill)
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McKinsey. Internet of things:
a perspective. Dec 2014.
Example – Elevator Servicing
2-3% reduction in callbacks
3-5% reduction in
maintenance labor costs
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2-3% increase in
revenues from lower
attrition
McKinsey. Internet of things:
a perspective. Dec 2014.
Example – Lime Kiln Mining
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McKinsey. Internet of things:
a perspective. Dec 2014.
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•
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Vibration
Pressure
Tension
Temperature
Real-Time
Work Analysis
• Enclosed
space data
• GPS location
• Vitals
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• PPE
deployment
Disaster Prevention
Health & Safety
Wearables
Three Examples
• Thickness of
asphalt
• Compaction
or density of
materials
The IoT Antidote
Do Lead;
Don’t
© 2015, Fiatech
React
Walk
Then Run
Find
Some
Friends
Tell the
World
Thank You
Allen Proithis
© 2015, Fiatech
President & Founder
[email protected]