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© 2015, Fiatech The Internet of Things as the Antidote for Risk IoT In Case of Risk.

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Presentation on theme: "© 2015, Fiatech The Internet of Things as the Antidote for Risk IoT In Case of Risk."— Presentation transcript:

1 © 2015, Fiatech The Internet of Things as the Antidote for Risk IoT In Case of Risk

2 © 2015, Fiatech Wonders of the Ancient World 23 years to construct 5.9 M tons of material Still in existence Would data have saved these?

3 © 2015, Fiatech The IoT Antidote Do Lead; Don’t React Walk Then Run Find Some Friends Tell the World

4 © 2015, Fiatech Risk Is Still Inherent Project Data in Silos Business Decisions Isolated Data

5 © 2015, Fiatech Scientia potentia est “You cannot manage what you cannot measure.” Peter Drucker

6 © 2015, Fiatech Internet of Things (IoT)

7 © 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 – $15T to Global GDP Auto Industry Savings $100B Cities investing $41T IoT $1.9T

8 © 2015, Fiatech 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

9 © 2015, Fiatech The IoT Big 3 1. Make Money New revenue streams, products & services 2. Save Money Efficiencies, productivity & cost savings 3. Regulatory Compliance

10 © 2015, Fiatech The IoT Solution Gap Device ReportingAnalytics Data Store Device Management ApplicationsSharing Hosting Historical Data Scripting CustomerData Services CAUTION Mind the Gap

11 © 2015, Fiatech Pain Points in the IoT Solution Gap ReportingAnalytics Data Store Device Management ApplicationsSharing Hosting Historical Data Scripting CustomerData Services Device

12 © 2015, Fiatech Data Service Exchange™ for Connected Device Platforms Reporting Analytics Data Store Device Management Applications Sharing Device Management Device Scripting Hosting Historical Data Device Device Management Device Connected Device Platform (CDP) Device Gateway

13 © 2015, Fiatech 6 categories illustrate the breadth of potential IoT applications… McKinsey. Internet of things: a perspective. Dec 2014. Tracking behavior Enhanced situational awareness Sensor-driven decision analytics Process optimization Optimized resource consumption Complex autonomous systems

14 © 2015, Fiatech Example – The Smart City McKinsey. Internet of things: a perspective. Dec 2014. Citizens benefit from a reduction in travel time, better emergency services, less frequent electricity outages, etc. Direct citizen savings (e.g., fuel cost, water bill)

15 © 2015, Fiatech Example – Elevator Servicing McKinsey. Internet of things: a perspective. Dec 2014. 2-3% reduction in call- backs 2-3% increase in revenues from lower attrition 3-5% reduction in maintenance labor costs

16 © 2015, Fiatech Example – Lime Kiln Mining McKinsey. Internet of things: a perspective. Dec 2014.

17 © 2015, Fiatech Three Examples Health & Safety Wearables Enclosed space data GPS location Vitals monitoring PPE deployment Disaster Prevention Vibration Pressure Tension Temperature Real-Time Work Analysis Thickness of asphalt Compaction or density of materials

18 © 2015, Fiatech The IoT Antidote Do Lead; Don’t React Walk Then Run Find Some Friends Tell the World

19 © 2015, Fiatech Thank You Allen Proithis President & Founder allen@wot.io allen@wot.io


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