Whether it’s the third digital revolution or Industry 4.0, the Internet of Things (IoT) is a crucial element of the world’s ongoing technological transformation.
Hundreds of industry leaders gathered at the 2019 Industry of Things World in Berlin in September to explore IoT’s present and future and to put its “hype into action.” The fifth edition of this conference — Europe’s top industrial IoT event — featured two days of networking, workshops, a boot camp, an innovation lab, and speakers ranging from top academics to global business leaders. The conference provided a platform to share ideas, learn and exchange knowledge with the experts who play an active role in the industrial internet of things scene. It brought together the largest European community of high-level cross-industry executives and 650 registered attendees.
The keynote speakers highlighted the challenges of the strategic realignment of information technology and the need to take digital transformation to the next level. Conference organizers emphasized collaboration across job functions and with different stakeholders.
With billions of devices worldwide, IoT has permeated all parts of our lives. Our homes, cars, watches and factories are all connected. This revolution is creating unprecedented amounts of data that organizations must try to understand and integrate with other technologies, including artificial intelligence and 3D printing. However, IoT success will be judged on its worth in making better decisions.
The low-hanging fruit has already been picked. Now organizations are under pressure to find newer, more powerful ways to use IoT. That could include efficiencies that save millions of dollars or creating entirely new business models.
The solutions could combat climate change, disrupt global supply chains or open the world up to greater cyberthreats. Despite its status as a massive industry with the attention of world leaders, IoT’s future impact is still uncertain and the technology’s promise still evolving.
During the 2019 Industry of Things World Berlin conference, Infosys and the Industry of Things World organizers from we.CONECT conducted a flash survey on adoption trends in Industry 4.0 and the internet of things (IoT). The short online survey was designed and launched for participating business leaders to share their views during the event. It was an anonymous survey which provided valuable insights.
The study confirmed there is significant awareness among business leaders of Industry 4.0, specific initiatives such as IoT and how to go about implementing them. The biggest challenge is in scaling up proof of concepts and pilots into enterprise-level, large-scale implementations. Technology does not seem to be a showstopper. Use case identification and more importantly business cases at an enterprise level, was identified as the biggest challenge impeding the adoption of Industry 4.0.
The full report with the most important key take-aways, contributions and survey findings is now available for download.
Topics covered in this report:
- Industry 4.0 investment priorities
- Taking digital transformation to the next level: Challenges and barriers in adopting IoT
- Prospects for the internet of things — Energy efficiency
- Leveraging the internet of things to create smart buildings that unlock value – cost and benefits
- The internet of things, used by people: IoT in the workplace
- Catalyzing the industrial internet of things ecosystem and accelerating innovation: The role and impact of 5G
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