If you could look into the future and get information about when your car might break down, or your water heater leak, you would probably find it very helpful. The information would allow you to take care of any potential problems before they actually develop. Many industries are now taking advantage of this kind of predictive knowledge, made possible by sensor technology, which allows for remote monitoring of assets. Read More »
New Oil & Gas Study Reveals a Disrupted Industry Primed for Digital Transformation, Fueled by the Internet of Everything
If ever there was an industry and a time that epitomize “disruption,” it is the oil and gas industry today. Price declines of more than 50 percent since June 2014 have upended the sector, and dominate the agendas of industry executives. In fact, a new Cisco study identified “energy price volatility” as the external market force causing greatest concern for the industry today. The study, “A New Reality for Oil & Gas: Complex Market Dynamics Create Urgent Need for Digital Transformation,” shows an industry ripe for transformation by the Internet of Everything (IoE).
In the past, oil and gas (O&G) companies have attempted to address oil-price declines by resorting to short-term cost-cutting measures to see them through the slump. But this time is different. For one thing, it does not appear that prices will recover any time soon—if at all. Demand is down, and new production technologies are driving efficiencies that will increase production and keep prices low for the long term. This time, O&G firms will need to do more than cut costs – they’ll need to change their operating models through digital transformation.
For the study, we interviewed oil and gas executives, consultants, and analysts in 14 countries about the industry’s challenges, opportunities, and priorities. These experts identified intelligence from data as the key area needed to improve operational efficiency, and data analytics as the No. 1 driver of faster, better decision-making.
Additionally, the survey named faster problem resolution, better process control, and improved worker safety as the top three business benefits of IoE-powered technologies. The top three IoE-driven operational benefits were improved production efficiency, reduced downtime, and equipment performance optimization.
As an industry, oil and gas has been “digitized” for some time. True digital transformation, however, now requires adoption of the Internet of Everything — the networked connection of people, process, data, and things — throughout the value chain. Innovative firms are using today’s turbulent market landscape as an opportunity to grab competitive advantage by harnessing new IoE technologies. Read More »
Cisco’s recent survey of 7200 banking customers in 12 countries left me with a crystal-clear takeaway: consumers are ready for the Internet of Everything (IoE) — and they want it now.
But to meet that demand, banks need to assess their own capabilities as they begin to light up their own “dark assets” with network connectivity and embark on the journey to IoE readiness.
In our survey, we tested five key IoE-enabled banking concepts related to advice (virtual financial advice, virtual mortgage advice, and automated financial advice) and mobility (branch recognition and mobile payments). These concepts resonated with customers globally: 75 percent of all respondents would move their money to another provider for one or more of the five concepts. And while the interest is significant everywhere, in emerging markets, respondents are twice as likely to move their money. Read More »
In my role leading the development of Cisco’s IoT Systems and Software, I spend a fair amount of time speaking at industry events and talking with customers and partners. There is a lot of excitement about the Internet of Everything (IoE) – the intelligent connection of people, processes, data and things to the Internet – as it continues to take hold, bringing unprecedented economic opportunities to both the private and public sectors.
Cisco Demonstrates IoE, Telehealth, and Virtual Pediatric Networks related Business Impacts at HIMSS 2015
On April 13, 2015, Cisco kicked off day one of the annual HIMSS healthcare conference by hosting a media panel to discuss a range of healthcare technology topics impacting the U.S. as well as around the world including the Internet of Everything (IoE), telehealth, and the use of virtual pediatric networks (VPN).
Members of the media heard from leaders in the healthcare industry about how they are utilizing the latest technologies to provide enhanced healthcare to patients, the meaningful impact on patient-doctor interactions as well as the broader social impact on the community as a whole.
One such example discussed at HIMSS was the results of a program piloted by Cisco; the Federal University of Sergipe, Brazil; and other key partners in Sergipe to bring care via telehealth technology to underserved children who may not have convenient access to physicians given they’re located in such a remote north-east region of Brazil.
On April 13, Cisco released a report called Connecting Brazil’s Children to a Healthier Future, which includes results based on a survey conducted by Cisco. The results indicated that telehealth helps enhance the quality of care to patients, and also reduces travel time it takes to visit a medical specialist. So rather than traveling to a bigger city in Brazil to see a specialist, patients and their families can remain in Sergipe but meet with a specialist over video. Some of the key findings from the pilot illustrate how the technology is having a powerful impact on the patient care. For example, 93% of patients surveyed and who participated in virtual consultations found them effective and were satisfied with their experience.
The pilot, which is slated to go into full production later this month, utilizes Cisco collaboration technology, for example, to help with virtual patient-to-physician consultations. This connectivity allows for the patients located in Sergipe to receive consultations from medical experts residing outside the region – a method that allows patients to tap into a wider pool of medical expertise.
Additional supporting resources:
Virtual Pediatric Networks Connect Doctors with Doctors
As healthcare challenges are being addressed around the world, many healthcare challenges are actively being addressed inside the U.S. During the HIMSS event, media heard from CHOC (Children’s Hospital of Orange County) about the implementation of a virtual pediatric network.
This virtual pediatric network utilizes Cisco technology and creates a hub to connect leading pediatric oncologists from CHOC Children’s and five other leading hospital locations with one another to collaborate on how to treat children and teens with rare forms of cancer. The VPN consortium aspires to link to 200 cancer centers of excellence globally including 8,000 physicians through the Children’s Oncology Group (COG) http://www.childrensoncologygroup.org.
For more on how CHOC Children’s is utilizing the virtual pediatric network, watch the video here: https://www.youtube.com/watch?v=97LPNwSwXcg&feature=youtu.be
These are just couple of examples where we see the true impact of technology on the healthcare industry. Over the next few years, we are going to see increasing adoption of these types of technologies, which ultimately is going to result in improved quality of patient care. To say the least, we live in very exciting times and we are just at the tip of the iceberg!