Majority of businesses lack clarity on IIoT adoption strategy, says survey

(c)iStock.com/Thomas Dernarczyk

The benefits of the Industrial Internet of Things (IIoT) are obvious – increased visibility and better insights into the performance of equipment and assets, process improvements, and better quality and productivity among others.

Yet a new study undertaken by the Genpact Research Institute and IndustryWeek, in collaboration with GE Digital and the Industrial Internet Consortium, has as a result found that 81% of business executives believe in the importance of adopting the IIoT for their company’s success, with only 25% boasting a clear IIoT strategy.

Richard Soley, executive director, Industrial Internet Consortium, said: “This survey shows just how critical the IIoT is for the future success of industries such as medical equipment, consumer packaged goods, manufacturing, and many others. The next hurdle for many companies is to develop a clear IIoT strategy, and one that includes protection for sensitive data from cybersecurity attacks. Successful IIoT adoption is expected to have a significant impact on business growth.”

Gianni Giacomelli, senior vice president and head of the Genpact Research Institute, said: “The why of Industrial Internet of Things seems clear and solid but the what and how aren't. This is not unusual with all new technologies that need interoperability with established operations and systems, and is particularly true where technologies use big data to make operations 'intelligent'—able to sense, act, and learn, at scale.

“Our research shows that success typically requires the ability to work cross-functionally – across IT, analytics, and business groups – to drive process transformation not just at the front end, such as in the field, but all the way across the middle and back office that support the front in scalable ways,” he added.

https://www.iottechexpo.com/wp-content/uploads/2018/09/iot-tech-expo-world-series.pngInterested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.

The show is co-located with the AI & Big Data Expo, Cyber Security & Cloud Expo and Blockchain Expo so you can explore the entire ecosystem in one place.

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