The Internet of Everything Value Index – What does it mean for Australian business?
By Linda Horiuchi, senior manager, Australia and New Zealand PR
Last week, Cisco hosted an event in Sydney, Australia, to discuss the Internet of Everything – What is it? Are there early examples of the Internet of Everything in Australia? What does Australia need to do to take advantage of the opportunities it offers?
The event started with Ken Boal, managing director of Cisco Australia and New Zealand (ANZ), announcing the Australian specific results of Cisco’s first Internet of Everything Value Index:
- The Internet of Everything is expected to enable Australian private sector businesses to generate at least $36 billion in profits (compared with $613 billion globally).
- The value at stake or total potential bottom line value (by producing higher revenue and lower costs) that can be created among Australian businesses based on their abilities to harness the Internet of Everything is $74B for Australia (compared with $1.2 trillion globally).
- Australian businesses have a current Internet of Everything score of 48%. In other words, Australian businesses risk leaving about 50% “on the table”, and untapped by the end of 2013.
- Further results can be found in this Fact Sheet and at-a-glance in this Infographic.
Ken was joined by four esteemed panellists at the event, who discussed the early applications of the Internet of Everything and highlighted the potential impact greater uses could have on businesses and on our everyday lives. The panellists included:
- John Ansley, CIO & President Supply Chain Solutions and Implementations of Linfox, who discussed how Linfox is utilising the Internet of Everything and specifically, sensor data to better manage its fleet of 5,000+ vehicles across Asia-Pacific. John stated that this initiative has enabled Linfox to reduce the number of trailers on its vehicles by 25% by having a better grasp of where vehicles are and managing them better. This has also led to significant CO2 emission reductions. With a 42% reduction in 2013, Linfox is well on its way to achieving its corporate goal of 50% reduction of CO2e emissions rate by 2015 versus its 2007 baseline. See his presentation here.
- Dr Paul Gray, CEO of Cohda Wireless, discussed how the South Australian-based company is working to make the Internet of Everything a reality for the automotive industry locally and internationally, with the aim of creating a safer driving experience and improved traffic flow. See his presentation here.
- John Wall, Manager, Road Safety Technology, Centre for Road Safety, Transport for NSW discussed how the Internet of Everything can potentially impact road safety in as little as five years’ time, playing a similar role to the introduction of seatbelts and breath testing. With more systems connected, and more data available, vehicles will increasingly be able to prepare themselves, and the driver, about particular routes and even particular spots on the road. See his presentation here.
- Professor Mary-Anne Williams, Director, Innovation and Enterprise Research Lab, University of Technology in Sydney highlighted that at present, there is a significant skills gap among graduates which includes technical; management and business; creativity and innovation; and entrepreneurial gaps. She discussed how universities and other academic institutions need to be adequately preparing the future generations of workers for the Internet of Everything. See her presentation here.