I recently had the pleasure of talking to Tony Shakib and Navdeep Johar at a recent Cisco Live event, and asked both to talk about The Internet of Things and what it means for business, particularly industrial businesses.
Tony Shakib, Vice President, Business Solutions, Cisco
“Internet of things is the foundation; how do you make the sensors a lot smarter; how do you generate a lot more data from it; and how do you monetize and control the data so that you could put it into interesting applications….the next step is we’re trying to put all these technologies in the context of vertical [industry] applications”
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It’s probably no surprise to you that my favorite part of Cisco Live is discussing future technology. This year, there are so many ways the Internet of Everything (IoE) is connecting people, process, data and things.
For example, we are looking at a world where our clothes, our glasses, even the pills we swallow, will be connected. In the business arena, IoE enables new processes and creates new value. The data we consume and create is providing new insights. And we are connecting things at record rates. Today there are about 10 billion things connected to the Internet, a little more than one for each person on the planet. By 2023, there will be five times as many—50 billion things—connected. And there is $14.4 trillion of potential economic “value at stake” for global private-sector businesses over the next decade, as a result of the emergence of the Internet of Everything.
Last week I went to one of my favorite restaurants in San Francisco…. Swan Oyster. It’s an old school “dive” with the authentic rustic ambience you would expect from a 100 year old SF oyster bar. I waited in line for 2 HOURS for four reasons……well 3.8 reasons. First, you can’t find fresher oysters anywhere, second; the smoked salmon on rye melts in your mouth and the 3.8th reason…. well, my mother in law loves it (that deserves more weight than 1 reason, so I gave 1.8)
So, why I’m a being a food critic at an event dedicated to IT, industrial and manufacturing professionals. Well, I know you are constantly analyzing reasons to make the right decisions whether for your family, business or career. Even if they’re as mundane as determining if you should stand in line for 2 hours with you dear mother in law for a dozen oysters and a generous helping of smoked salmon on rye. So, I thought I would give you $14.4 Trillion (reasons!!!) to visit the IoT Pavilion (booth #1558) June 23-27 at Cisco Live in Orlando this year.
The Internet of Everything (IoE) will create opportunities to capture $14.4 trillion of value between 2013 – 2022. Of which, $3.88 trillion (reasons!!) worth of value can be obtained from manufacturing and industrial industries. That’s $3.88 trillion (reasons!!) of cost savings and revenue generation that can be realized by taking advantage of the IoE revolution!!!
What is IoE anyway? Is it like the Y2000 hype…. absolutely not.
The Internet of Everything (IoE) connects people, processes, data, and things (IoT) to make networked connections more relevant and valuable than ever before creating new capabilities, richer experiences, and unprecedented economic opportunity. IoE will be a disruptive force that radically transforms they way we create, build, deliver and experience every product and service we use today.
Every manufacturer will need to connect existing devices to the Internet for control monitoring, and intelligent decision analysis. Previously unconnected devices will become smart objects and sensors connected seamlessly and securely throughout the enterprise. Applications that haven’t been identified will be created and enabled to drive operational excellence, improved asset utilization, supply chain agility, innovation, workforce productivity and increased customer satisfaction and acquisition.
The $14.4 trillion (reasons!!!) dwindle fairly quickly over time. Manufacturers and industrial producers do not have long to develop and deploy the infrastructure required to take ADVANTAGE of the IoE revolution. The challenge is that many of the things (IoT) deployed in industrial environments were built for very specific purposes, and due to lack of standards were developed with their own proprietary protocols.
These approaches and strategies produce highly complex and costly infrastructures that do not scale or provide the flexibility to capture the $14.4 trillion value form IoE.
Next week I’ll join Chairman and CEO John Chambers and Chief Technology and Strategy Officer Padmasree Warrior to officially kick off Cisco Live 2013 in Orlando, Florida. We’ll be sharing our vision for the new opportunities and amazing things that can happen when you connect the previously unconnected.
The Internet of the future – the Internet of Everything (IoE) – is changing how we work, live, play and learn. During our opening address, my colleagues and I will share our predictions about how the intersection of the four elements of the IoE – people, process, data and things – creates new capabilities and experiences that are more relevant and valuable than ever before.
As Global Industry Director for Manufacturing at Cisco, Chet Namboodri is looking forward to joining you and more than 20,000 of your colleagues at our 2013 Cisco Live event in Orlando, Florida, during June 23-27.
As part of this year’s Cisco Live on Tuesday afternoon, June 25, I’ll be hosting a one hour break-out session (number BRKIND-1229) titled “Cisco Industrial Solutions and Best Practices for Manufacturing”. This session is for manufacturers, their suppliers and their partners who are looking for transparent integration and secure real-time visibility between business networks with control and automation systems—and want to find out the business value that will give them.
In that session I’ll be talking about how you can unify the different kinds of networks – those that utilize information technologies, or IT and those that utilize operational technology, or OT. Just think of the ease of management, support and expansion with an open-standards based architecture that not only reduces total cost of ownership (TCO), but is already providing Cisco customers with real business returns. I’ll talk more about that and give you customer names and use cases at Cisco Live.
One of the key ways Cisco can help you get there is with “Cisco Smart Solutions,” which provide the open-standard, IP-based communication and control I mentioned to reduce costs, improve up-time, increase asset utilization, and lock-down on end-to-end security. During the session, I’ll not only talk about case studies, but even have a live business demonstration over TelePresence to showcase different business capabilities and value achieved with these converged IT/OT solutions. Read More »