While IIoT is more demanding than consumer IoT - with data security requirements, physical security, long life-cycles, and significant CapEx - the ROI is relatively massive potentially saving millions of dollars in operational efficiency from better data, better decisions, and faster responsiveness. That's why industrial users are willing to invest $500B on Industrial IoT (IIoT) solutions by 2020. Join this month to meet startups, demos, case studies, and experts in the IIoT segment.
Kicking off the year with a packed house at our host GE Ventures, the inaugural 2018 IoT Forum meeting on Industrial IoT Applications introduced eight companies all across the Industrial IoT Ecosystem. Agenda, attendee list, and photos now available in the online archive and presentations available to members in the online library.
The agenda included:
This month’s case study in Industrial IoT by Jim Rynne, GM of Vigilent, introduced their work with NTT in Japan. Vigilent solves a critical issue for data centers by optimizing their climate control. Leveraging proprietary influence mapping of how HVAC and equipment racks battle for temperature control in data centers, Vigilent was able save NTT over 30% in cooling cost in the first year of deployment and provide a complete ROI within two years of deployment.
Over lunch, IoT Forum members and guests participated in an unpanel discussion on Industrial IoT with Kevin Duffy, VP of Business Development at FogHorn and Rob Massoudi, Global Head of Digital Transformation at ABB, and moderated by Dr. John Feland of Argus Insights. The audience wanted data on use cases driving adoption of IIoT. While both ABB and FogHorn have been successful in deploying solutions into clients, we learned that details of use cases tend to be trade secrets, with both clients and vendors alike a bit cagey as to how awesome these IIoT deployments have been.
For takeaways, the panel and the audience agreed that Industrial IoT should focus on bringing value to operations (OT) over IT, that the targets are more COOs than CIOs. Rob described a vision where Industrial firms look forward to understanding and optimizing the systems within their plants, beyond the short term focus of controlling and understanding individual components. Kevin articulated the need to consider both Cloud to Edge as well as Edge to Cloud deployments because of how much knowledge persists at the edge in these legacy systems and workflows, that not all the data needs to come back to the Cloud once the analytics models understand what at the Edge is critical to feeding the systems view. Robotics potential to drive eventual autonomous operation of industrial facilities was echoed as the dream for both panelists but realizing that much work exists in both Security and Automation before that dream comes true.
Overall, it was a winning way to start 2018 and provided more hunger for the conversations at our next meeting on 15 February where the focus topic will be Robotics within the Internet of Things market. We look forward to seeing you there!