Manufacturers are challenged with how to start digitizing their factories. Many have told me it is not inertia or budget holding them back, but being overwhelmed or unsure of where to start. Yet the value that awaits them is great – connected factories can boost profits by up to 19 percent (according to our latest Manufacturing Thought Leadership Study).
To help manufacturers navigate the complexity, I hosted a #CiscoChat with Brandon Lackey, Manufacturing Vertical Business Development Manager at Cisco, and Lorenzo Veronesi, Analyst at IDC. We discussed the benefits of a connected factory, the roadblocks manufacturers face, and how to take the first step. Many industry thought leaders and luminaries joined us and it made for an animated discussion.
If you missed the chat, the full recap is here, and I will share with you a few of the highlights:
We kicked off the chat by asking: How are manufacturers making factories more connected and intelligent?
We are embarking on a new technological journey that will fundamentally change forever the economy, society and the way that we live. The Internet of Things (IoT) is a world where up to 50 billion things (or devices) will be connected to the Internet by 2020; or, the equivalent of 6 devices for every person on the planet.
The clear winners in this revolution will be those companies that, not only embrace the Internet of Things, but use it to transform their businesses. Those winning companies will be the ones that integrate IoT into their operations, products and customer interactions to create new business models and sources of value. In fact, McKinsey estimates that there could be as much as $11 trillion per year by 2025 in new economic value created by adopting IoT.
Technology innovations fueling the mass digitization of countries, cities and companies are reignited today with the highly anticipated opening of Cisco Innovation Centre Toronto – the first in North America and ninth worldwide.
Yes, the opening created a Big Bang in our expanding universe of Innovation Centers made possible by the Internet of Things (IoT). Toronto – North America’s fourth largest city – is the perfect catalyst for innovation.
Why? There are multiple calculations, proof points and experiences that help determine the right hubs for incubating, co-creating and prototyping innovations that can be applied locally and scaled globally. All the complex ingredients seem to converge quite neatly in Toronto.
Having grown up in Denver, I’m a big fan of the Denver Broncos. Although I currently live in San Diego, I really enjoy the opportunity to see at game at Mile High Stadium any chance I get. Sure, I could always upgrade my TV services to include a NFL package or subscribe to the Bronco’s fan club for updates, but nothing can replace the experience of attending a game in person. Delivering a truly unique, unforgettable fan experience is a goal that is transforming the way stadiums and venues interact with fans today.
Enhance the Fan Experience
In fact, most sports fans report that they want a more connected, personal experience. According to Gartner, in 2016, 89% of companies will compete on the basis of customer experience as compared to just 36% four years ago. Companies will differentiate themselves, attract new customers and identify new sources of revenue using customer experiences as a driver. To create truly personalized customer experiences, companies are turning to technology—a trend that is typically referred to as digital transformation. In my last blog, I wrote about how new mobile engagements are improving the guest experiences in Hospitality. Sports and entertainment provide another example of how mobile experiences are enhancing the fan experience.
2015 will be remembered as the year of the Internet of things. The tipping point when IoT went from the back rooms of the technology world to become mainstream.
The consultancy McKinsey estimates that the Internet of Things – a world where up to 50 billion things (or devices) will be connected to the Internet – could create up to $11 trillion per year of new economic value to business and society. The term Internet of Things traces its origins to 1999, but it is only over the last year or so that the realization of its transformational potential has reached the business community and the general population. The number of research reports, conferences and media articles devoted to the topic has exploded. With the media making the connection between the smart home and the connected automobile IoT has begun to become part of the popular parlance.
In fact, a Google search for Internet of Things reveals 725 billion results.
Google Trends also reveals that Read More »