Pressroom

1
Apr
2016

Tech Innovators: Experts Discuss Their Views On The Age Of Disruption

by
Editorial Staff, Media Planet Industry and Business
| in
internet of things

INSIGHT Rogers Communication's Ignacio Paz, and other leading experts discuss their views on the age of disruption.

 

Ignacio Paz

Acting GM, M2M / IoT Products & Solutions at Rogers Communications

 

We believe that the Internet of Things is all about driving business outcomes. We’re focused on helping companies to adopt IoT solutions with a specific goal in mind. For example, solutions could be implemented to improve energy efficiency, increase employee productivity, or save on fuel costs.

As time goes on, more and more use cases for IoT technology become apparent. In the few years it has been on the market, IoT has already penetrated most industries, but we are still just scratching the surface. Researchers predict a dramatic growth in IoT over the next decade. As companies better understand the potential it has to solve business problems and drive outcomes, we believe adoption will rise. And, in my experience, there is always an opportunity for IoT technology to solve problems for any business.

In general, the adoption of any new technology always faces a certain pattern. You always have the early adopters who are eager to integrate it into their business. But, it takes more time for it to spread to the community at large — creating a chasm between the early market actively using IoT technology to benefit their business, and the vast majority of companies that have unsolved problems this technology could address. Once that chasm is bridged, IoT technology is going to become the definition of disruptive technology and its potential will be realized.

 

Keith Flynn

President & Founder, RtTech Software Inc.

 

To put it bluntly, IoT is the Industrial Revolution of our time. It’s really going to change the way society and industry operate — forever. It’s setting the stage for a new way of doing business. Industrial IoT is all about being on the edge. It’s about taking this cutting edge technology and integrating it seamlessly into business operations. Our factories and plants are generating so much raw data now, and we know there’s relevant and meaningful information in there. Industrial IoT technology and analytics lets us tap into that data to provide operational insight. The beauty of it is, while the amount of information available is increasing, we are reducing the amount of information managers need to process. We are able to streamline operations without being intrusive. Something as simple as having subject matter experts who can see and interact with machines without having to be on site, without having to even be in the same country, is huge. Canadian experts are now able to make remote operational decisions worldwide using mobile devices. And, that’s just the tip of the iceberg. It’s bigger than anyone could imagine. Ten years from now, industrial operations are going to be unrecognizable. Factories will be managing themselves. Truly, it’s science fiction in real life.

 

Duncan Stewart

Director of Tech, Media & Telecom Research, Deloitte Canada

 

The most remarkable shift in IoT over the last year has been the complete collapse of the hype around the consumer. At the 2015 Consumer Electronics Show in Vegas, everyone was talking about consumers buying and connecting drones, fitness bands, watches, 3D printers, appliances, wearable cameras, and smart home devices such as thermostats. The arm waving was enough to power a couple of wind farms. Don’t get me wrong — millions of devices in each of these categories have been sold, and money is being made. But, when we talk about 50-billion connected IoT devices by 2020, mere millions of units fail to move the needle. And, in literally every single one of the consumer IoT categories above, the last 12 months has seen unit sales range from not living up to the hype to actually declining year over year. However, the collapse of the hype bubble related to the consumer devices has obscured a more important story: the market for IoT enterprise and government devices and services is over $70-billion. Not in some far off science fiction future, but today. Whether smart cities or connected factories, IoT is already a massive market today. Businesses and governments are the ones who have the tools to extract the data and the analytics from all these devices —consumers don’t, nor do they want to.

 

Loreto Saccucci

CEO, blueRover

 

The IoT has captured the imagination of a lot of companies and a lot of people, but the concept is still sketchy. The industry speaks of speeds and feeds; however, they are still trying to figure out what it’s going to do for them. So far, in Canada, we are at a stage where it is primarily early adopters getting involved, but that is changing rapidly. IoT technology has proven to both decrease costs and increase revenues from their existing operations. However, the aspect that is drawing the most interest is the potential for IoT to open up entirely new revenue streams. Previously, for example, a manufacturer might sell a product and then never have contact with the customer or product again. But, if the product becomes IoT enabled, that manufacturer can receive real time analytics. Therefore, providing a value to their customers in monitoring and services that were not attainable previously. Having access to an inexpensive and ubiquitous network for constant contact with your product is going to have a profound effect on businesses. Looking 10 years down the road — when the generation that has grown up with smartphones are the business decision makers — it’s going to feel entirely natural to communicate to your product in the same manner you chat with natural language processing applications or artificial intelligence. I honestly believe the effect IoT is going to have on business will be more profound than the changes wrought by the Internet itself.

 

Kurtis McBride

CEO, Miovision Technologies

 

IoT is going to transform the modern definition of the city. If we look back 10 years from now, we’ll be amazed at the changes that have taken place. But,this transition to smart cities won’t happen overnight. It’s going to emerge incrementally just like the Internet did. My specialty is in traffic management, and a lot of the infrastructure we see running our current transportation network — from traffic sensors to intersection controllers — is based on technology that was installed in the 80s and 90s. That’s not just pre-IoT, that’s pre-Internet. We’re never going to succeed with a plan that involves ripping out and replacing that entire infrastructure. Cities can’t afford it; replacing everything is just too expensive and too time-consuming. Instead, there’s an emerging idea of going in with 21st century IoT devices and interfacing them with existing 20th century infrastructure. It’s a faster and lower-cost way to upgrade. It will allow all cities, whether budget rich or not, to become smarter. This model will extend across all types of city infrastructure — we’re going to see a steady propagation of IoT devices. And, each new device connected to the network will expand the capabilities of the entire system. Each new device will make the city smarter. In the decade ahead, every process, citizen touch point, and piece of infrastructure will undergo a renewal. At that point, I’m confident the innovation ecosystem will take over and extend city services in ways that are hard to imagine today. 

 

Tech Innovators: Experts Discuss Their Views On The Age Of Disruption

Staff

Media Planet, Industry and Business

http://www.industryandbusiness.ca/insight/tech-innovators-experts-discus...