Last week marked the second annual Internet of Things World event. Leaders in IoT from around the world convened in San Francisco to participate in what the event’s website calls “the world’s largest and most comprehensive IoT event.”
I had the opportunity to speak with PrismTech’s SVP Corporate Development Steve Jennis fresh off the heels of Internet of Things World, where he participated in a panel discussion. The panel, called “Increasing Productivity and Output for Manufacturers through IoT Applications,” was part of the Manufacturing, Supply Chain and Logistics aspect of the event.
Jennis reflected upon his experience at the event offered three takeaways about the status of Industrial IoT.
Industrial IoT is becoming mainstream.
Jennis presented alongside executives from Cisco Systems and Microsoft, which he said shows that some of the biggest players in IT are entering the IoT world.
“The giants of the industry are coming in quite aggressively to a space that has been traditionally inhabited by startups and smaller companies,” Jennis said. “That tells us something about the expectation for the size and importance of the market.”
IoT is becoming a priority for more than just major IT and OT companies. Jennis pointed out that even Facebook has announced an IoT strategy. “That tells you that everybody is getting involved,” Jennis said. “The nature of the market over the next year or two is going to switch from smaller vendors and niche applications toward the mainstream.”
Jennis thinks the massive growth forecast for the IoT is driving this shift. To remain competitive and relevant, it is essential for major companies to get involved. These companies, in turn, “validate the space just by their presence.”
The manufacturing community is still learning.
Jennis also reflected on the nature of the questions asked by the panel’s audience. He said the manufacturing community still isn’t sure how Industrial IoT stands out compared to other technologies and solutions.
For Jennis, the difference comes down to connectivity and additional business value. “If you don’t have system-wide connectivity, then you are just left with a number of self-contained banded systems,” Jennis said. “You’re only in the IoT world when those things start sharing data, when you can generate new value across domains and when your data can flow uninhibited by boundaries.”
However, many manufacturers aren’t aware of this distinction and are still in the process of learning about IoT.
It’s all about security.
In any discussion with manufacturers about Industrial IoT, security is bound to come up. On the Internet of Things World panel, Jennis approached security questions in a manner that he called “a little bit provocative.”
He said that although many people talk about security in binary terms, it isn’t about being completely secure or not having security at all.
Rather, your level of security is going to come down to your willingness to pay for it. “People have got to understand that they will get the level of security they are prepared to pay for,” Jennis said. “No one can afford 100 percent security, but if you can’t afford what you need you can always get insurance.”
How do Jennis’ observations at IoT World match up with your IoT experience? Comment below or tweet @MNetBridget.
