Making The IoT Vision A Reality

manish

I have never seen technology evolve as rapidly as it is today. The pace is exciting, but it is also daunting. In a world where social, mobile, and big data technology trends are rapidly evolving and converging on open platforms, all companies are challenged to invest in the right “technology waves.”  

Every company in the world, large or small, is dependent on customer analytics, social and mobile trends and data - lots of data - to drive revenues and improve efficiencies. The beauty of the Internet of Things is that it takes existing disparate trends and a convergence of physical and digital worlds to deliver incredible value to companies and clients.  As with most technological tidal waves, with this revolution, comes a great global responsibility.

Kevin Ashton, who coined the term Internet of Things, also invented the concept of using RFID tags to track inventory.  The now ubiquitous use of the RFID chip among apparel retailers did not happen overnight.  Ashton, executive director at MIT, led a global initiative to standardize RFID. He knows that great technological developments come with great responsibility.

Also read: Taking The Big Leap With Big Data

We are now facing the challenge of how to responsibly build out the power of the Internet of Things.  We all want to leverage big data while maintaining privacy and security, and we all want an open environment for developers to rapidly advance our vision of the Internet of Things.The Industrial Internet will help us get there.

The “Industrial Internet” is a new, global technology and industry initiative that is swiftly gaining momentum. It has tremendous potential for all companies.

How is the Industrial Internet different from the more commonly used term, the Internet of Things? While the Internet of Things is a vision for the future, the Industrial Internet is the nuts and bolts that will help make that vision a reality.

While the Internet of Things is a concept that every physical thing will one day be connected, and that you can use that connectivity to collect data, analyze that data, and then make changes to better serve customers, improve businesses, and/or enhance people’s lives, the Industrial Internet comprises all of the protocols, security and privacy decisions, and interconnectivity across different types of devices, sensors, and software.

These will enable the collection of operational data, advanced analytics, and adjustments in system performance that will ultimately drive the outcomes imagined for the Internet of Things. The Industrial Internet is also referred to as M2M, or “machine-to-machine.”

Organizations that wish to gain customer credibility and succeed with IoT should use data diligently to help clients drive greater operational productivity, increase marketing precision, and achieve regulatory compliance, provide useful analytics and accounting information to clients to help them improve their businesses. IoT companies should also create analytics capabilities for niche services that will help customers accelerate their businesses.

Toward this end, I would like to mention about the Industrial Internet Consortium (IIC) a recently formed group to catalyze, coordinate and manage the collaborative efforts of industry, academia and government to accelerate growth of the Industrial Internet. As an IIC member we also strive to define requirements for open interoperability standards and develop common architectures to connect smart devices, machines, people, processes and data.