© 2015, Fiatech
The Internet of Things as the Antidote for Risk
IoT
In Case of Risk
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Wonders of the Ancient World
23 years to construct
5.9 M tons of material
Still in existence
Would data have saved these?
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The IoT Antidote
Do Lead; Don’t React
Walk Then Run
Find Some Friends
Tell the World
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Risk Is Still Inherent
Project Data in Silos
Business Decisions
Isolated Data
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Scientia potentia est
“You cannot manage what you cannot measure.”
Peter Drucker
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Internet of Things (IoT)
© 2015, Fiatech
Estimated Value of IoT?• Total economic value-add from IoT across industries = $1.9 trillion worldwide in 2020
(Gartner)
• 50 billion devices will be connected to the Internet by 2020 (Cisco)
• Remote patient monitoring market doubled 2007–2011, and is projected to double again by 2016.
• Utility smart grid transformation will almost double the customer information system market, from $2.5 billion in 2013 to $5.5 billion in 2020 (Navigant Research)
• Wide deployment of IoT technologies in the auto industry could save $100 billion annually in accident reductions (McKinsey)
• Industrial Internet could add $10-15 trillion to global GDP (GE)
• 75% of global business leaders are exploring the economic opportunities of IoT (The Economist)
• UK recently approved 45 million pounds (US $76.26 MM) in research funding for IoT technologies.
• Cities will spend $41 trillion in the next 20 years on infrastructure upgrades for IoT (Intel)
• Number of developers in IoT activities will reach 1.7 MM globally by the end of 2014, (ABI Research)
$10T–$15Tto
Global GDP
AutoIndustry Savings$100B
Cities investing
$41TIoT
$1.9T
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Myths and Truths About IoT
McKinsey. Internet of things: a perspective. Dec 2014.
Myth
IoT is mostly about wearables and connected homes
IoT is a futuristic technology
IoT is an expensive and highly speculative undertaking
Most of IoT value will be captured by solution providers in the high-tech sector
Truth
70% – 80% of total value lies in enterprise applications
In many industries (eg, GE aircraft engines), IoT concepts have been used for 20 years
Most IoT business cases are driven by cost savings and investment is relatively limited
The vast majority of value (80% – 90%) will be captured by users across other verticals
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The IoT Big 3
1. Make Money• New revenue streams, products & services
2. Save Money• Efficiencies, productivity & cost savings
3. Regulatory Compliance
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The IoT Solution Gap
Device
Reporting Analytics
Data Store
Device Management
Applications Sharing
Hosting
HistoricalData
Scripting
Customer Data Services
CAUTIONMind the Gap
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Pain Points in the IoT Solution Gap
Reporting Analytics
Data Store
Device Management
Applications Sharing
Hosting
HistoricalData
Scripting
Customer Data Services
Device
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Data Service Exchange™ for Connected Device Platforms
Reporting AnalyticsData Store
Device Management
Applications
Sharing
Device Management
Device
ScriptingHostingHistorical Data
Device
Device
Device
Device Management
Device
Connected Device Platform (CDP)
Device
Gateway
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6 categories illustrate the breadth of potential IoT applications…
McKinsey. Internet of things: a perspective. Dec 2014.
Tracking behaviorEnhanced situational awareness
Sensor-driven decisionanalytics
Process optimizationOptimized resource consumption
Complex autonomoussystems
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Example – The Smart City
McKinsey. Internet of things: a perspective. Dec 2014.
• Citizens benefit froma reduction in traveltime, betteremergency services,less frequentelectricity outages,etc.
• Direct citizen savings (e.g., fuel cost, water bill)
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Example – Elevator Servicing
McKinsey. Internet of things: a perspective. Dec 2014.
2-3% reduction in call-backs
2-3% increase in revenues from lowerattrition
3-5% reduction inmaintenance labor costs
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Example – Lime Kiln Mining
McKinsey. Internet of things: a perspective. Dec 2014.
© 2015, Fiatech
Three ExamplesH
ealth
& S
afet
y W
eara
bles • Enclosed
space data• GPS location • Vitals
monitoring• PPE
deployment Dis
aste
r Pre
venti
on • Vibration• Pressure• Tension• Temperature
Real
-Tim
e W
ork
Anal
ysis • Thickness of
asphalt• Compaction
or density of materials
© 2015, Fiatech
The IoT Antidote
Do Lead; Don’t React
Walk Then Run
Find Some Friends
Tell the World
© 2015, Fiatech
Thank You
Allen ProithisPresident & Founder
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