IoT Summit Highlights Transformation of Business

by Poonam Mondal    May 13, 2016

IoT

Microsoft, in association with The Economic Times, brought together ‘Internet of Things’ Summit 2016 which deliberated on the transformation of business enabled through Internet of Things. The summit was organized in association with Microsoft which saw speakers from various discipline viz. KPMG, Greaves Cotton, Bajaj Allianz General Insurance Company, Essar Steel India, Godrej among others.

In his opening remark, Takeshi Numoto, Corporate Vice President, Cloud and Enterprise Marketing, Microsoft said, “One of things IOT enables customers to do is to gain new insights beyond the transactional. IOT offers key insights not only into business, but in consumer behavior. It offers real time impact to drive business. Perhaps the most important thing in IOT is not the devices we use, but the data and the insights it generates. You should leverage your devices to get untapped insights and data. This can enable fast solution development.”

The summit brought together industry stalwarts like Kiran DB, Director, Solution Sales, Microsoft; Sourabh Chatterjee, Senior Vice President and Head – Technology, Digital Sales and Marketing, Bajaj Allianz General Insurance Company Limited; Krishnan Raman, Co-Founder and CEO, Flutura Decision Sciences & Analytics; Srikanth Karnakota, Director- Server and Cloud Business, Microsoft; Sanjeev Kumar, Plant Head, Godrej; Puneet Bhatia, Director and Practice Leader, Internet of Things and Emerging Technologies, KPMG India, among others.

The summit facilitated a panel discussion on ‘Towards a connected world – driving innovation and transforming business models’ which deliberated on how Internet of Things will remake the industry, the ways that IOT can improve efficiency and how the technologies will evolve.

Succeeding the discussion, another panel sat and emphasized on Internet of Things Today - Does IoT lead to a good Return on Investment? It deliberated on the resources that it requires to develop IOT products and services, the challenges faced and the return of investment by it.

Sourabh Chatterjee, Senior Vice President and Head – Technology, Digital Sales and Marketing, Bajaj Allianz General Insurance Company Limited said, “Fundamentally, the product is evolving from hardware to software based. Look at Tesla, they’re pushing a software update to allow for driverless cars. It’s an update over the air. It’s not just about technology. You have to look at the design and the way technology works. Technology for technology’s sake won’t work.”

Explaining and demystifying the nuances of Internet of Things, Rakesh Vasal, Vice President – Security and Fire, Essar Steel India Ltd. said, “To start with, today’s world is a very competitive one. In this, it is very important that those working feel safe and secure. This can be done only by doing something to improve their situation. This will improve their efficiency too. With real one information, a CEO can plan better and take more informed decisions since information no longer resides in pockets.”