Increasing IoT Investment for Supply Chain

At the beginning of 2017, IDC published its forecast for worldwide spending on the Internet of Things (IoT). It came up with the figure of $737 billion for spending on IoT in 2016 to cover organizational investments “in the hardware, software, services, and connectivity” it requires. That amount would continue to grow based at “a compound annual growth rate (CAGR) of 15.6% over the 2015-2020 forecast period, reaching $1.29 trillion in 2020,” the firm projected.

A huge chunk of that is to come from industry. In fact, IDC’s estimates allocate the lion’s share of IoT investments in 2016 to that sector and found that it involved several large investment amounts. For the 2016, investment in IoT for manufacturing operations would have amounted to $102.5 billion. It also involved a chunk of investment in logistics, specifically freight monitoring  to the tune of $55.9 billion.

The motivation for such hefty investment at this time, according to IoT World’s report Manufacturing IoT & Supply Chain Transformation in 2017 (registration required) “is simple: a compelling ROI through increased efficiency, productivity, reliability and safety.”

Indeed, that fits “the formula for the Industrial Internet” that GE set forth in its 2015 Industrial Internet Report. It described the IoT for industry “as a source of both operational efficiency and innovation that is the outcome of a compelling recipe of technology developments,” which are composed of the following parts.

• Data: both from the standard forms of Big Data and the additional streams coming through the sensors that track “equipment, products, factories, supply chains.”
• Analytics that can assess the status of the connected things.
• The definitive core of the business that defines the desired outcomes

Read more in 

Investment in Supply Chain IoT Grows

Google Glass Comeback

Success is not just a matter of timing but if also finding the right context. That’s the story behind Google Glass reception. Its first foray ended in failure, but it has found a new context in which it could thrive.

I remember when Google Glass was launched in 2013 as the ultimate wearable with a sticker price of $1,500. I recall reading one review that conceded that it had some problems but still thought that it was to be embraced as “the future” of tech. Just about every other reviewer rejected them, among them one who went on to list the reasons why people hate it. 

As it turns out, both sides were right. People did have major issues with Google Glass as a personal device. However, the hands-free convenience combined with smartphone capability proved very valuable in an industrial setting.

That’s why Alphabet X stopped trying to sell Google Glass directly as a consumer item and it up into the Enterprise Edition of the wearable.  Its current tagline is: “Glass is a hands-free device, for hands-on workers.” The product is no longer sold by Google directly but through partners who have customized the device for industrial purposes.

Read more in 

Raise Your (Google) Glass to the Enterprise Edition

The trust factor for IoT

pic from https://farm8.staticflickr.com/7296/15768208714_9f9376cc7d_o_d.jpg

We talk a lot about IoT, referring of course, to the Internet of Things. But perhaps we should be thinking of making the T stand for trust. That’s what some are working on now in establishing industry standards to be worth of trust by committing to adopt best practices.

Essentially the OTA's best practices and standards boil down to two overarching considerations. One: Device manufacturers have to consider how they will secure the data collected on their devices. Two: The consumer has to be clearly informed about the nature and extent of the data collected. Having that information allows the potential purchaser to know exactly what they would be getting into with the Internet of Things (IoT) device, and whether or not they consider the gains are worth the risk. Having a universal standard also makes it clear how one company compares to another with respect to data privacy and security.

Read more in

Setting the IoT Standards