Healthcare leaders predict that the implementation of healthcare IoT and AI solutions on a scale will transform their industry. The next few years will see more interconnected IoT devices and reliable applications based on deep learning. To achieve adoption and impact of new technology, the innovators and healthcare stakeholder ecosystem leaders should address the need for trust and evidence. Real World Evidence and Randomised Clinical trials are effective ways to bridge the gap and to establish a common framework to address the user adoption issue.
Arun Sethuraman, Principal Advisor MedTech, Ecosystm is also the founder and CEO of Crely Healthcare, a MedTech startup based in Boston and Singapore. Infection of the surgical site, post-surgery, if not detected and treated early, leads to high incidence of mortality in patients, poor health outcomes, poor patient experience, higher healthcare costs, and loss of reputation and reduced profitability for healthcare providers. Crely’s mission is to provide an early warning and clinical decision support system for surgical site infections (SSI), post-surgery. Crely generates an early warning of SSI by algorithms based on biomarker data collected from patients using an IP-protected, secure, non-invasive, continuously wearable, clinical grade medical device.
Let’s not forget that technology takes longer to roll out that all of us want to think and 5G is no different. We have had no excuses since we only have to look at how long it took 3G and LTE to become mainstream and how long the transition from the prior technology took to move to the next generation.
However, the mobile and telecom industry is not the same as it was when earlier telecommunication tech was being upgraded. In the past hardware, benchmarks feeds and speeds dominated the marketing messages, but now it is about software, cloud and ecosystem collaboration. Gone are the days when the telecom equipment vendors ruled the conversation about their technology – that has clearly been replaced by IT companies leading the charge with topics such as virtualization, IoT, analytics and new services. Once there was a US automobile commercial that touted the latest edition of its cars was ‘This is not your father’s Oldsmobile’. Well, 5G is not your father’s telecom infrastructure!
This time around, operator and equipment vendors may have to take the collaborative partner role in any new digital solution. Instead of 5G projects being dominated by Ericsson or Huawei for example, there is a role for the likes of VMware, Microsoft, and Salesforce to be the lead company. In some cases, it could be Bosch, PTC, or Siemens while in others it could be Audi, BMW or Mercedes. The overall trend here is that all of these companies are being digitally driven to deliver new services to a customer that is firmly at the center of an ecosystem. The one industry sector who might lose out could be the telco operators who could be squeezed by the surge from IT vendor relevance, despite them investing heavily on 5G licenses. However, this time the operators are in a much stronger position to be the perfect channel for the massive amount of intelligence-laden data being created by smart connected devices that are not typical mobile devices.
So what was the outcome at MWC? I visited both the Huawei and Ericsson booths following pre-MWC briefing sessions to see if the customer buzz was there – and indeed it was.
Ericsson may have won the prize for the most crowded booth, while Huawei’s sprawling booth wins the most lavish and largest booth. The two company’s 5G messages could not have been more different.
The Big Two
For me, Huawei had invested heavily in making its hardware products very compelling for operators to install. Clearly, there had been a lot of research had gone into replacing existing infrastructure with massive performance upgrades and deployment friendly attributes e.g. size and weight of base stations that could be mounted by individuals rather than by cranes. The result of this strategy is that Huawei’s customers can quickly deploy 5G platforms with lower CapEx and OpEx thus creating significant incentives for operators to migrate to 5G networks.
Ericsson’s leading story was about migrating to 5G by highlighting its key enablers (i.e. carrier aggregation, LTE-NR spectrum sharing, and dual mode 5G cloud core). It appeared that Ericsson had moved its message off hardware (which, by the way, is still table stakes in any selection process and Ericsson had plenty of new 5G related offerings) and onto a strategy of smooth evolution and deployment at scale – a much more business leader discussion than a network, driven by software. Finally, both companies had strong messages around their AI capabilities to help their service providers make sense of the growing complexity of services that will be generated by the connected smart IoT devices.
The Importance of IT Software On 5G
IT and industrial companies played an increasingly important role at this year’s MWC as service providers and they became involved in deeper partnerships. 2019 was the year when the gaps for 5G between the network and IT services were being filled in. For example, I saw AR (augmented reality) solutions by PTC supported by Microsoft and being fed by data off a 5G network. This showed how industry, cloud and network service providers will accelerate new technologies.
In another example, Salesforce showed how Edge Computing events triggered Salesforce SaaS-based enterprise management services while being supported by AT&T’s 5G network and the modules being designed and tested at AT&T’s Foundry. Here, AT&T 5G network was being used as a high-value channel for Salesforce’s customers to run their business functions at the edge of the network.
Digital twins have shown up as a digital representation of a physical device or asset. However, this year, I saw a Wipro example of how 5G could drive digital twin concepts beyond physical assets and into the workflow, supply chain management, logistics and worker safety. Every ‘asset’ that was to be used in a factory floor was digitized into a digital twin and then a 5G network was used to monitor and manage every aspect of the factory. It seemed that Industry 4.0 had arrived in its full glory.
Finally, VMware continues to be the IT company that service providers will either love or dislike – I still don’t know which one it will be. VMware’s virtualization and cloud management capabilities have been extended right into 5G networks. For example, NFV (Network Function Virtualization) is critical to operators as they slice the 5G bandwidth into the appropriate services. VMware has its strategy correct when it says that it could virtualize the network just as it has with the cloud, but in doing so is making itself either a partner or a competitor of the operators for their 5G services revenues. 2018 was the year when VMware made a big splash at MWC, 2019 was the year when they showed that they have something to offer – will 2020 be the year when they take over the network software virtualization profit pools just as they did with the enterprise server virtualization market?
Crawl, Walk, Run
In conclusion, MWC 2019 was the year that the 5G gaps to make end-to-end infrastructure solutions where clearly being filled in. Service providers had stepped up their willingness to be part of the customer-centric ecosystem that is almost certainly being led by IT software companies. Telecom equipment vendors were offering technology solutions to speed up 5G deployments while making forward compatible solutions much easier. Finally, 5G-supported applications remain the last piece of the puzzle that MWC hasn’t addressed fully. As a result of the massively varied 5G use cases, there is still a look of curiosity on which industry will be the lead for 5G – will it be the auto industry with autonomous cars, will it be Industry 4.0 and the smart factory, or will it be smart cities with video surveillance. In addition, it is certain that IoT is still very much a necessary part of any 5G strategy just as AI outcomes continue to fuel IoT-based sensors in technologies such as the self-driving cars, AR, and digital twins. 2019 may have been the year that decided that it won’t matter whether the connected IoT device used licensed (NB-IoT) or unlicensed (LoRa) spectrum protocols as both will be seamlessly connected to a 5G network. IoT was not dead, it had simply grown up and was now integrated with more valuable solutions.
Cyber attacks happen without notice. While there are many cyber experts present to help and provide consultation to the organisations, knowing beforehand about the attacks and strengthening your cybersecurity will safeguard you against serious ramifications.
Let’s Understand – What is a Cyber Attack?
A cyber attack is a deliberate attempt by an individual or a community working together to tap into an existing or a newly discovered vulnerability in the system, network, firmware or software resulting in complete control or gaining information from the victim’s system. While measuring the ill-effects of a cyber attack, we can say that with access to critical data one can exploit sensitive information, identity and may cause serious damage to an organisation or personal identity. Sometimes, a cyber attack is also referred to as computer network exploitation (CNE) or a computer network attack (CNA).
The other common terms used in association with a cyber attack are threat, vulnerability, and risk. Often these terms are mingled together in our day-to-day usage, but they all mean something different. Let’s try to uncover the basic difference between a threat, a vulnerability, and a risk.
A threat can be explained as an activity to exploit a weakness in a system, to cause harm or reveal the underlying assets. It always involves a person responsible for performing threat actions to impact the system’s security known as a threat actor.
A vulnerability is an unknown system flaw or a known weakness that could potentially be exploited by a person also known as a hacker. In other words, it can be known or unknown issues within a system or its software that can be exploited by hackers.
Together, when a threat acts and exploits a vulnerability, this may result in the development of a situation known as a risk. A risk could lead to potential loss or damage to a business.
Understanding threats, vulnerabilities, risks and other components will help you to act against cyber attacks but this may raise another question on why someone would try to harm your business.
So Why do Cyber Attacks Happen?
The people behind a cyber attack could be hackers, a team or a dark web organisation who work with an ulterior motive to commit a digital crime or to gain access to one’s system through a cyber attack. Collectively we may refer to them as cyber criminals. Cyber criminals try to identify vulnerability to crackdown a system.Below are some of the common reasons why a cyber attack happens.
This is one of the most well-known types of cyber crime. The motive of cyber criminals here is to get easy access to money and the ways they make this happen is through frauds, demands, data breaches or direct attacks. What attackers try to steal are the business’ financial details or sensitive data/intellectual property, customer financial data or databases, staff or client credentials. By gaining access to these, the attackers get in a position to easily access a secured system and exploit it for their financial gains.
Hacktivism – Political or Social
Hacktivism is an activity involving anonymous organisations breaking into an organisation’s IT infrastructure for political or social reasons. Hacktivists mount cyber attacks to access information that can damage the intended target or perform activities to hurt or lower the reputation of certain bodies. Government and political bodies are often the targets of hacktivism.
Cyber world experts are sometimes challenged by the thrill of hacking or may develop a personality living in a virtual world pushing them to hack into a network with an intention of identifying system vulnerabilities. Generally, hackers are referred to as people with bad motives but hackers are not necessarily criminals as some of them help organisations to test systems, recognise backdoors, loopholes or vulnerabilities in a system which is termed as ‘white hat’ hacking. Knowing the vulnerabilities in the existing IT infrastructure and services may protect organisations from some serious future consequences.
Organised Cyber Crime
Digital technology has empowered individuals with some serious fire-power. IMs and chat technology have made it easy for individuals to form teams or an organisation to commit crimes on the web. Sometimes several groups form communities to commit a serious cyber crime – planned, coordinated and conducted together at a macro level.
Aiming to disrupt business, or the operations of critical infrastructure, can be undertaken just to demonstrate security weaknesses, the hacker’s general disapproval for the business, or even to cause extensive operational, financial and physical damage to their target.
The Vulnerabilities that a Business can Experience
Data breaches occur every minute and unknown threats and vulnerabilities always pose a risk for a business. To stay protected, it is always better to know and understand the types of threats or vulnerabilities that a business can experience rather than later raising questions on how the attackers got in.
Malware . A malware is a type of cyber attack where malicious software is installed on the victim’s systems through executable files usually without the user’s knowledge. Malware includes malicious software, including spyware, ransomware, viruses, and worms. After installation, a malware can keep track of the user’s activity or can trigger codes resulting into access to sensitive information, login details, credit cards or intellectual properties by the hacker.
Phishing. Phishing refers to spoofing or deceptive communications activities performed by the attackers that appear to originate from a credible source such as emails, messages, legitimate websites that are disguised. Through phishing, attackers try to fetch sensitive information, user details, credit card numbers or make fraudulent attempts.
Man-in-the-middle attack. These attacks happen with relaying or altering the communication channels. This can be communication between organisations and cloud server or over unsecured networks.
DoS/DDoS. A DoS/DDoS attack aims at flooding the target website with overwhelming traffic to exhaust resources and bandwidth of the system. These are not to bring down a website but to breach a security perimeter and smoke out the online systems. This can reduce a user base or may bring down the entire network.
SQL Injection. This is injecting a nefarious code or statements into SQL queries or a database server to extract information from the database or to take a data dump of the complete database.
Zero-day exploit. Zero-day is a software security flaw which is known to the software developers. Attackers try to exploit a vulnerability before a patch or solution is implemented to capture the system with known weaknesses.
Cross Site Scripting. XSS attacks occur when a web app sends malicious code in the form of a side script to another user thus bypassing access controls of the site to same as the origin.
Business Email compromise. This is an attack to spoof business emails and gain illegal access to company accounts and ids to defraud the company or its employees.
According to Woerndle, “Nowadays, most of the reported attacks appear to be email-focused either with the intention to encrypt the infected systems to demand payment of a ransom for the keys (i.e. ransomware), to steal credentials (subsequently used for further attacks on other systems and applications) or to steal information that can be sold for profit on the black markets. “
To minimise cyber attacks, businesses can put some counter-measures in place. It is a smart move to be prepared for serious circumstances and act reactively with security measures.
Secure assets. It is always considered a security best practice to keep your systems and infrastructure updated with latest security patches and updates which are released from vendors or manufacturers on a regular basis.
Conduct threat assessment. Vulnerabilities can arise within your own system or potentially from other sources which are not directly under your control, but they can be identified if you are aware. Perform regular due diligence of your system or network security.
Stay informed on threats. News articles, software companies, cyber security organisations often release information on threats and vulnerabilities that can help you stay informed and act against threats.
Formulate steps to avoid threats. Training and regular information to organisations and employees can prevent many attacks from happening. If your users or employees are aware and informed they can escape the threats. Keep strong passwords, encrypt sensitive information, safeguard accounts, use firewalls to prevent attacks.
Plan an incident response. Create plans and approaches to react against a cyber attack to manage and limit the damage. Always keep your systems backed up online/offline and prepare your IT team to deal with it. You may also take advice or may hire experts to strengthen your infrastructure security.
It is rightly believed that prevention is better than cure. Speaking on the subject, Alex Woerndle, conveys that “the fundamentals are always the most critical starting points – focus on your system and application hardening and patching processes, deploy and actively maintain endpoint protections (e.g. anti-virus), restrict the permissions users have on their devices and invest in regular training and awareness for all staff. Beyond that, ensure all systems are backed up regularly, and deploy (and encourage all users to apply in their everyday lives) multi-factor authentication wherever possible.”
Considering the recent information security breaches, governments around the world are actively forming committees and taking measures to fight against cyber attacks. The governments of various nations have published some guidelines and measures to prevent cyber attacks.
The NIST Cybersecurity Framework, US, provides a policy framework of computer security guidance for organisations to assess and improve their ability to prevent, detect, and respond to cyber-attacks. The framework has been translated into many languages and is used by various governments and organisations across the world.
The Australian Government (via Australian Signals Directorate – part of Defence) has published some very good guidelines – called the ‘Essential 8’ and ‘Strategies to Mitigate Cyber Security Incidents’. The Essential 8 are a very user-friendly guide for businesses and provide protection against 80% of the most common cyber attacks
The UK Government has also come out with very useful information to help organisations.
Recently, Singapore opened a new cybersecurity school and the Ministry of Defence (MINDEF), is planning to hire security experts for their cyber defense strategy.
Cybersecurity is a challenging area and is a very broad discipline that requires skills across technology, forensics, business management, risk and compliance, education, communication, technical support, and others.
Negligence can impair reputation and lead to commercial losses but by understanding the security aspects, one can become aware of the potential threat and be in a better position to counteract it, or even preempt it.
This is just a glimpse to give you some insights into areas of cybersecurity and what goes under the surface. For specific details, you may get in touch with us or speak with a cybersecurity expert.
Winner MWC2019 – Deutsche Telekom – IoT Solution Optimiser
IoT and Network Infrastructure Vendors
This section is reserved for a few players – Ericsson, Huawei, and Nokia share most of the pie around the network infrastructure. A suspicion of Huawei security and doubts on the Operator’s role in election outcomes can delay 5G deployments in Europe. The Americans and the Chinese have already placed their decisions.
Only Huawei granted me an opportunity to meet their VP, a friend of mine.
I tried several times to reach Nokia whereas I did not even try to reach Ericsson this year, I already heard its strategy three times in the last year.
By far, Nokia has gained in terms of its connectivity offer with Nokia Wing, the ecosystem and the use cases (somewhat more advanced than those presented last year).
Winner MWC2019 – Nokia – Nokia Wing
IoT and IT Technology Vendors
The technology behemoth Microsoft revealed its second-generation HoloLens AR and all I can say is that it left a ridiculous gap for IoT. Other IT giants such as Dell-EMC-VMware, SAP, Cisco, Oracle, SAS or SAG-Cumulocity did not showcase anything new.
Moving towards the System Integrators, they are not even expected at this fair in relation to IoT. Neither the Cloud, nor the Edge IIoT, nor the IoT Platforms, nor the IoT applications had any new ideas that could have attracted the interest of veterans and novices. Where are the millions of dollars going in the industry, which they say are being spent on IoT?
Winner MWC2019 – No Conclusión
IoT and Countries
Finding an IoT gem among the many tiny cubicles of various countries was similar to finding a needle in a haystack. To me, there was hardly any interest to go through the dozens of small companies that used this event as a stage to make themselves visible to the world. The umbrella allows them to be here but attracting visitors between so much noise and variety to their booth was a big and miraculous task.
Every year, I get in touch with IoT companies and know companies from Israel, UK, Sweden, Canada or France. However, this year to my surprise, I found an interesting company in the pavilion of Belgium. They have developed another league of IoT platform and I liked what they have achieved with Orange. They are my winner of this year.
My special regards to the Colombia pavilion and my friend Edgar Salas.
Winner MWC2019 – AllThingsTalk
IoT and Start-ups
I could not visit 4YFN, but I went to IoT Stars. My friend Marc Pous and his colleagues always do a great job, who comes as a jury every year. It was a good time spent with them over a beer while sharing impressions of the IoT and discussing new ideas to accelerate this market once and for all.
In my opinion, there was no great achievement this year and I still notice a gap in the Industrial IoT start-up space. Most ideas are like “Déjà vu” applications for Consumer IoT which reminds me of the post-years after the Internet boom. Much remains to be done here and it will take time for Universities to train innovators and entrepreneurs of IoT.
Winner MWC2019 – No Conclusión
P.S. The IoT Stars jury awarded two prizes
It does not matter; this Congress was as soporific as the Oscars ceremony but for some strange reasons I keep coming back every year. Although after the fiasco of 2019, my expectations were set to find progress and opportunities in IoT but considering the after-effects, I think next year I will reduce my stay to only two days.
It has become clear that the MWC no longer holds anything interesting with respect to IoT to attract visitors, exhibitors, companies. Instead, IoT enthusiasts should probably look to other – more focussed – industry events.
If you want me to cover anything specific on IoT from MWC,19 then let me know in your comments.
The partnership agreement was signed at the annual Mobile World Congress (MWC) 2019, in Barcelona. The trials are projected to showcase what banking in the future might look like, and how 5G technology and edge computing can help to lower the requirements of the infrastructure presently required for banking operations.
Speaking on the subject, Ecosystm’s, Principal Advisor, Tim Sheedy, thinks that “this trial will help all parties better understand where the opportunities are for users of the mobile networks, and for the telco and equipment providers too. They will understand the potential demand for specific network slices and capabilities and get a better idea of what they need to deliver and whether or not there may be demand for these services”.
5G edge computing is still in nascent stages and there’s not much present in the market. Whether it minimises infrastructure or distributes it differently is yet to be seen. “The trials will likely determine what the shape of the new distributed architecture looks like (how close to the “edge” do the data centres need to be?)” says Tim, “There are unknowns of 5G at the moment – so the trials are invaluable to all parties to help them know where and what they need to invest in to make 5G services commercially viable.”
For a layman, 5G edge computing is all about delivering the reliability, speed, and latency that they need – or more likely – a sensor needs in order to get its job done. Once the technology becomes mainstream the end-users/banking customers will reap benefits from it. “5G is not just about delivering faster speed but it is about delivering them intelligently”, says Tim, “5G will help Telco’s to prioritise traffic AND network services – meaning that the end user can achieve their goals.”
While it’s too early to tell at this stage how will 5G benefit the banking sector, it should help banks offer their customers more reliable and relevant services – but what services need to be distributed at what times, and what can remain at the core are not yet understood.
However, let’s assume that the 5G hype is in the rear view mirror and we look to see what could be ahead of us in the mobile and telecom industry. At the end of the first day of this year’s MWC, I may have seen the future opportunity – and it is awesome! Pat Gelsinger asked the question “why can’t we build the telco networks like the clouds have been built for with scalability, flexibility, efficiency, and agility”? It’s a very fair question. After all, we do have Network Function Virtualization (NFV), and we will have new 5G services, so why not a new telco cloud?
I spent time with two companies that may show us a glimpse of the future network and cloud infrastructure. The first is the Israeli software startup, DriveNets with its solution “Network Cloud”. DriveNets is focused on helping service providers disaggregate proprietary routers from their networks as they move to 5G. DRiveNet’s Network Cloud solution aims to disrupt the current network business model by separating network costs (e.g. proprietary hardware functions) to create network functions from its software stack and two ‘white label’ hardware building blocks. The entire network infrastructure is software-centric allowing for agility, scalability, and normalizing costs with business growth.
However, Network DriveNets is an unusual startup in that it came out of stealth mode with $110 million in its first round of funding. The company was founded in 2015 by Ido Susan who should be familiar to Cisco watchers as he sold his first startup, Intucell (self-optimising network technology), to them for $475 million in 2013. DriveNets other co-founder, Hillel Kobrinsky founded Interwise (web conferencing) which was snapped up by AT&T for $121 million. To that end, the company is well funded and has the ability to sustain itself long enough to potentially disrupt the $50 billion network hardware business.
The second is Rakuten Mobile, a well-known name in Japan, but the first mobile virtual network operator (MVNO) to launch there in over 10 years. MNOs are not new so what makes Rakuten different? The company’s CTO, Tareq Amen explained to me that they are building the world’s first end-to-end fully virtualized cloud-native network running all of its workloads in the cloud. Being a fully virtualized network enables Network Function Virtualization to take advantage of cloud computing basis assets where a service delivery platform can be implemented, customized and scaled at speed. Finally, all of Rakuten’s core technology including its Radio Access Network (RAN – a topic that has been highly discussed at this year’s MWC) on 5G thus delivering immediate and actual 5G services. This compares to most of the rest of the industry who will have to build an uncomfortable transformation roadmap from 2/3G and LTE to 5G. While Amen’s strategy is compelling, there are a few technical hurdles to overcome. For example, enterprise-grade 5G indoor coverage isn’t fully there yet so Amen will have to rely on the operators that he is competing against who have that real estate.
So why highlight DriveNet and Rakuten in the same blog? In Rakuten’s case the CAPEX and OPEX business models for operators may be turned on their heads by the fact that its network is taking all of the competitive advantages of 5G while offering customers as disruptive pricing models and services. In a country such as Japan where traditional operators have struggled to modernize their networks, this could be a competitive threat. Equally, there could be a global rise in copy-cat pure 5G/cloud-based MVNOs spring up and fiercely compete against the incumbent local operators as well as give other MVNOs a tough time. As for DriveNets – it’s simple…it’s software and virtualization of the switch and router market which is very appealing to the service providers. It will commoditize the hardware, lowering their costs while allowing them to continue to focus on new 5G services.
The basic components that drive an IIoT system are:
Secure intelligent assets such as sensors and smart controllers – that can sense, communicate, store and transmit information
Communication and data storage infrastructure – often cloud-enabled
Data analytics and smart business apps that generate information from the data
How IIoT Can Revolutionise an Industry
IIoT is transforming the manufacturing industry and other supply chain intensive industries by maximising efficiency, reducing downtime and increasing the overall production. While IIoT adoption is still in a nascent stage, there are some industries that have taken the first mover advantage and have started demonstrating readiness use cases.
The Smart Factory
The adoption of IIoT has reshaped traditional factories to create smart factories. The systems work with interconnected machines and real-time data exchange that merge the departmental communications along with unified operations and information systems.
How is IIoT making factories ‘smart’?
IIoT has revamped how the traditional units worked. The slow and manual processes are now automated processes with M2M communication. This can be easily demonstrated through an example of how Smart Factories deal with preventive maintenance.
A smart factory has machines, sensors, databases, and humans all working in sync with each other. Sensors within machines can automatically notice a fault and the software logic sends an automatic alert to the right human to analyse the cause behind the fault. With Artificial Intelligence incorporated, machines determine the cause of the faults and go beyond predictive to prescriptive approach pre-empting problems before they exist. This in return reduces the maintenance cost and increases uptime of the factory by introducing parameters to fix machines with accuracy. In-return this leads to increased shelf-life of components and less-time involved in problem detection and rectification.
Energy & Utilities
The Oil & Gas industry is embracing IIoT with a multitude of benefits. Now the energy and utilities have an ability to easily sync data and simultaneously operate across multiple locations. This is made possible with the adoption of cloud, and installation of sensors that capture real-time data on the operating conditions of assets, monitor physical conditions such as temperature, pressure and humidity, and even environmental conditions. The practical scenario here is that Oil & Gas companies are remotely controlling their drills and monitoring the earth’s crust by remote control sensors and maintaining the flow of resources.
With so many moving parts in a logistics system, from factories, collection points, and the transport network, it was difficult to maintain and manage a single view of the entire process. Through an ecosystem of sensors on the machines and vehicles covering the entire supply chain, it is now possible to access real-time data. It allows advanced functionalities such as virtually positioning hundreds of vehicles and optimising their route. In the process saving energy and reducing the time for delivery. The consequence is reduced costs for fuel, vehicle maintenance, and staff, plus increased customer experience through shorter and more accurate delivery times.
Other Industries – Promising the change
The adoption of IIoT will go beyond the early adopters and revolutionise several other industries. The Transportation industry is ripe for transformation given that infrastructure is being strained and margins reduced. The challenges of demand and aging infrastructure can be best handled by IIoT.
Another industry that will benefit immensely from IIoT adoption is Healthcare. At the moment, asset management IoT systems have been adopted by several organisations, as in-patient remote monitoring systems that allow clinicians to monitor and analyse patient data remotely.
“The real value of IoT will be realised when clinicians have a clear workflow that allows them to monitor patients outside the hospitals,” says Sash Mukherjee, Principal Analyst, Ecosystm. “In the past, healthcare organisations have been influenced by the Manufacturing industry – by Lean and Six Sigma. They will benefit from implementing Industry 4.0 technologies, that will transform not just the provider organisations, but healthcare in general.”
Turning IIoT into a Profit Engine
Given all of this information about IIoT you may be thinking about the ROI, associated costs, benefits and the industry-wide exposure of the Industrial IoT. It is imperative that companies large & small are embracing Industry 4.0 change. IIoT is benefitting businesses through differentiated offerings, a creation of newer revenue streams and increased monetisation of existing offerings.
The Ecosystm IoT Study, 2019 looks at the drivers of IoT adoption across industries.
The data shows that the key drivers of IoT adoption can all affect the profit margin of an organisation.
Innovation. In today’s competitive world, innovation in product designing and service delivery is directly related to a positive impact on profit margins. Organisations are looking beyond cost savings through their investments in IoT and are using IIoT to bring new, innovative products and services to the market. They are looking at creating innovative businesses that can leverage technology and offer cost savings.
Workforce Optimisation. It is impossible to bring change without workforce optimisation. Organisations are working on the valuable insights offered by IIoT systems which further provide ways to optimise the workforce and accelerate productivity. Implementation of automated production units and the reduction of manual labour is bringing both productivity gains and increased profits. It is also boosting employee morale – happier employees impact the profitability of organisations, reduces turnover, improves customer interactions, and promotes more job ownership.
Customer Experience. Customer expectations have gone up and so have methods to improve customer experience. Organisations are taking IIoT seriously, as it’s unleashing capabilities to improve processes throughout the product life cycle while also improving product quality through better QCs. Feedback to product improvement time has reduced – customer features and product improvement requests can now be handled more efficiently, based on customer data.
Businesses that fully capitalise on IIoT systems are successfully building a competitive edge through their innovative products, optimised workforce, and differentiated products and service offerings to enhance customer experience.
What Lies Ahead?
As IIoT percolates into other industries, we will potentially see a new industrial revolution. This has obviously been attracting investment and technology companies quickly to offer related technology offerings that tech buyers would do well to consider along with IoT.
Data management will become an obvious challenge with IIoT-driven data proliferation. Already the industry has been talking about going beyond cloud to “fog” computing. The real value of IIoT will be realised when the solutions become able to operate on the Edge. This will see an increased uptake of SaaS offerings that will be required for quick and accurate data-driven decisions.
AI will eventually go further than basic machine learning and incorporate deep learning for better predictive and prescriptive analysis. IoT devices with embedded AI will truly revolutionise industries. This is another technology area that tech buyers should keep an eye on, irrespective of the industry.
Security and Risk Management
An explosion of IIoT devices and data will bring new risks. Cybersecurity experts and teams will be required to constantly monitor vulnerabilities, follow security best practices and eventually predict breaches.
Industry 4.0 is very much a buzzword in certain industries, with several advanced organisations already following the business and technology practices. Naturally, there are still many companies that do not see the need for new technology or would rather invest in other areas.
For organisations that are looking to modernise, innovate and remain competitive, Industry 4.0 is a good benchmark of how technology can be leveraged. IIoT is a key enabler of Industry 4.0 and has the potential to deliver benefits to majority industries through increased intelligence and curated data – the question is how soon we can witness it on a scale.
Which are the other industries that you think will benefit from IIoT? Leave your comments below
In the recent announcement, HCL Technologies and IBM stated that they were collaborating to assist organisations on their hybrid cloud journey. The joint services will offer seamless integration of their customers’ cloud across any private, public and on-premise environment. The hybrid cloud approach is aimed at eliminating the concerns of mixing the different cloud environments yet maintaining scalability and security. HCL will feature new refactoring and re-platforming services to allow organisations to migrate, integrate and manage apps and workloads on IBM’s cloud.
Speaking on the subject, Phil Hassey, Principal Advisor ,Ecosystm, thinks that “the most attractive aspect of this collaboration is that it will bring together the best of both vendors. IBM has such a long history in Infrastructure Management, whereas HCL has – most particularly in the past 5 years or so – built up capability in the space.”
The good news for tech buyers is that they will derive benefits from HCL’s customer knowledge and hands-on approach with the combination of IBM technology, cloud and – of course – Watson. HCL has acquired significant IBM assets that they could extract more value from. The infusion of AI into hybrid cloud will lead to increased automation, improved outcomes and effective investments by clients.
When we look at the individual benefits to IBM and HCL from this deal, Hassey says, “IBM needs new customer logos and HCL can provide that. Conversely, IBM can provide larger enterprise clients to HCL. However, it is not a straight customer swap, they will work to maintain relationships independently.”
IBM is pushing hard towards their plans to capture more market with many big deals announced recently – and undoubtedly many more yet to happen. It is well-documented that IBM has gone through many reinventions but is still deeply entrenched in many of the world’s largest organisations. “IBM is such a large machine that different aspects and offerings are always operating at different speeds”, says Phil. “It needs to accelerate the uptake of Watson, and Watson being available on any cloud will help this.”
The hybrid cloud is desperately looking for big scale integration and transformation capabilities, so this agreement between HCL and IBM will hopefully help kickstart that.