The influence of the IoT in a global business world
“…the IoT promotes a heightened level of awareness about our world, and a platform from which to monitor the reactions to the changing conditions that said awareness exposes us to.” – Brendan O’Brien, Chief Architect and Co-Founder, Aria Systems
The IoT is undoubtedly experiencing an international market explosion. The current estimation for IoT-connected devices stands at 10 billion, with a colossal 1.5 trillion items holding the capacity to connect. With the widespread installation of connected smart devices and big data analytics, global enterprises have not missed the mark in terms of implementing IoT-enabled systems; in fact, a recent report notes that in Australia alone, 77 percent of corporations have already employed an IoT-focused strategy in one form or another.
According to an outlook from Boston Consulting Group, companies will be spending €250 billion, or around US$285 billion, on IoT services and products, with half of that total spend deriving from manufacturing, transport and utility industries.
“It’s a huge opportunity for all industrial companies,” says Bill Ruh, Chief Digital Officer of a respected US company. “Data analytics and machine connectivity are the way to get to the next level of productivity.”
Aiming to promote flawless connectivity between devices at any time in any place, the benefits of the IoT in a global business sense are worthwhile and expansive. On top of heightening levels of citizen protection, for example, the use of Big Data analytics and broadband communications is also great news for global employees. Not only will it drive a significant rise in situational awareness, it will also spur a more efficient decision-making process, all the while bolstering force multiplier and reducing the overall cost of company functions.
In-vehicle sensors will also soon transform the business of Fleet Management and Transportation, allowing managers to monitor repairs with intricate software taking fleet vehicles offline and arranging necessary mends in a time-effective manner. On top of all this, the IoT facilitates up-to-date alerts on things like traffic, road conditions and passenger demand, warranting a smooth and stress-free transport system from beginning through to end.
The IoT is set to empower business leaders round the globe, giving them an unmissable chance to improve asset utilization, reliability and productivity. On top of that, real-time connectivity means less risk and ultimately, an overall improvement of company operations through detailed analyses of factors like production, plant conditions, staff, customer demand, and unique market trends.
On top of this, the automated payment function of the IoT will reduce time spent in queues and thus reduce the use of energy, also freeing up consumer pockets by giving them a convenient means to pay via any connected device, significantly enhancing the modern customer experience.
Plus, with innovative functions like remote monitoring and control, IoT products support simplicity and flexibility in an often-competitive corporate world. Former studies have shown that a comfortable work environment can do much more than nurture the happiness of employees – it also poses a direct influence on company productivity. Alan Hedge, for example, found that when office temperatures dropped from a cosy 77 degrees right down to a chilling 68, typing mistakes went up by 74 percent, while output fell by 46 percent.
With this in mind, the benefit of a tool such as an IoT-enabled Air Conditioning (AC) system, which maintains the optimum corporate working environment, will significantly bolster your company’s daily productivity – which can also mean great things for your financial rewards.
And through the provision of a platform that allows you to keep track of light and heat levels, as well as monitor company security while away from your desk, the IoT represents a smooth and cost-effective way for business managers to maintain the prime professional environment. Not only will this lower both short- and long-term costs, it will also spur a considerable reduction in use of energy while also demonstrating great practice in CSR.
Here are three innovative companies that are reshaping the business world through the use of IoT:
AMBI LABS
Unlike many other smart-tech invested companies, Ambi Labs does not swamp consumers with unwanted clumps of data, warranting convenient, rule-based control through the application of Artificial Intelligence (AI). Ambi Climate – a fresh and innovative product direct from Ambi Labs – brilliantly leverages its AI function in line with user feedback and environmental aspects, allowing them to separate the insights from the data to offer customers the ultimate efficient smart facilities.
Already fully utilized in more than 40 global regions, Ambi Climate is known not only for enhancing general customer comfort, but also for helping them shed up to 30 percent of their monthly Air Conditioning (AC) electricity costs.
- Ambi App – Remote AC access and fine-grain AC control
- Ambi Cloud – Builds a tailored comfort profile of you and how your AC performs
- Ambi Climate – Learns about the characteristics of your home environment
- Your AC – Auto-adjusts your AC for better comfort and greater energy savings
“Ambi Climate provides fleet management, through which serviced apartments and other commercial users can operate and control hundreds of AC units at the same time, therefore enjoying greater operational efficiency with better monitor and maintenance of the AC units,” the company explains. “It does not only help improve the experience and comfort of their guests, but also saves energy which is a substantial component for building development in the long run.” Read their full profile…
INTEL
Recognizing that the IoT embodies a stable network of devices embedded with electronic, software and sensor features, Intel has fast-become a pioneer of responsive solutions and innovative products designed with the demands of IoT in mind.
“It is time to re-think the way we generate, transmit, distribute, and consume energy for the connected era,” the company explains. “New energy sources, environmental and regulatory drivers, and new consumer demands mean the electric grid must become a digitized, standards-based, automated, and interoperable infrastructure.
“Intel, along with McAfee and Wind River, is delivering integrated, scalable hardware and software solutions that integrate into existing energy infrastructure to bridge traditional IT and operations—turning data into knowledge and integrating intelligence across the grid to help solve the industry’s greatest challenges,” Intel concludes.
From digitizing power facilities, to supporting the development of global ‘smart’ cities, even to investigating the most efficient way to integrate IoT into the smart grid; Intel offers a reliable, connected and secure means of transmitting, distributing and consuming energy in a rapidly-changing world.
SIERRA WIRELESS
Acknowledging that both public and private organizations use IoT wireless access to lower power consumption, as well as to connect industrial assets and infrastructure, Sierra Wireless – a global IoT solutions company that’s ready and prepared to link international corporations to profitable business data – offers a range of powerful wireless solutions to innovate organizations in an increasingly digital world.
From Smart Metering to Building Automation, Connected Public Lighting to the Smart Grid, Pipeline Management to Industrial Equipment, Video Surveillance and beyond; Sierra Wireless is helping make way for a smarter world enriched by the IoT.
“Governments and utilities worldwide are transforming antiquated water and energy infrastructure into smarter, interconnected systems,” the company’s Smart Meter strategy notes.
“Using connected Smart Meters to track how resources are distributed and consumed, they are lowering operating costs, reducing theft and loss, and improving forecasting,” it adds. “These IoT solutions help them optimize resources and serve more customers efficiently.”
*Some of the companies featured in this article are commercial partners of Tech Wire Asia