Reflections from Tele 2 IoT Talks
Untapped digital potential of today
In front of a suspenseful crowd at the start of IOT Talks the keynote speaker, an executive from analyst firm Gartner, tells us to have a strategic perspective about managing your IT potential. But what is that potential about? Does it include taking IoT initiatives to the next level? Today 50% of companies are in planning mode for IoT according to the Cisco survey. And 10% of companies, from Gartners own report, are still analogue. And of those who are digital, how many realize their potential to include IoT at a level on which they can scale and harvest data?
The Gartner analyst mean, that the reason for this untapped potential is by 46% related to cultural aspects. Combined with the fact that over 85% of IoT projects are in proof-of-concept mode. Which means that 15% needs to show the way going forward. What are they doing right?
What is the reason for this process and what can be done about this? The analyst gives an example from the municipality of Copenhagen where 5 million USD was invested in a brave new-thinking IoT project but it was revealed to have 0:- in customer value. It is clear to him and to me that IoT needs to be aligned with business goals. The best use of IoT should improve service quality and act as an accelerator for business, not to be the end-goal of itself. Most IoT companies are actually service enablers and the best use of IoT comes from seeing that rather than a potential rebranding.
The bright future of IoT is already here
Even though it is apparent for anyone that AI will underpin the next decade of the world and most of all IOT, to fully ride that wave one needs to plan ahead and see possibilities to scale their solutions properly. Everyone can and should optimize their own operations with IoT which is only done by a proper routine of observation of one’s own operation and as earlier mentioned, align it with customer quality improvement. The analyst finishes his keynote with some predictions. He believes 95% of new electronics will be designed to be connected to the internet by 2020. This is already happening around the globe, so it is more of a reminder that it’s 80% of electronic design today. Most of you who have a chance to read this are probably already a part of that change.
As a reflection to the presentation, it is clear that we have to speak up about the challenges we face but also raise awareness of the multitude of opportunity we can act upon. Everything from cameras to cellphones are able to gather data. It’s a matter what we do with available data and having that strategic perspective. For the IoT to really be of full use, focus needs to shift from technology towards creating user benefit by acting and reacting to the information that is available already.
Rasmus Storkamp, Marketing coordinator at Skyresponse
More reading on how to make your IT approach more cost effective here.