The dawn of artificial intelligence (AI) is leading a digitization revolution where everything is going smart. A significant offshoot of AI is the internet of things (IoT) technology where physical devices are interconnected. Notably, this machine-to-machine (M2M) communication is gaining popularity at the enterprise level in what could lead to massive disruptions in industry.
Understanding IIoT
For starters, AI entails teaching of machines to perform at the intelligence level of human beings. The AI revolution has led to the development of a smart wave where machines. In particular, through machine learning, bots are able to perform human functions without being programmed for predetermined conclusions.
On the other hand, the concept of IoT is an extension of AI where machines are able to communicate and perform their functions with unprecedented levels of efficiency. At the core of the IoT concept is the internet. Notably, the internet is the medium through which machines communicate. However, humans are also part of the IoT ecosystem. A lot of data is collected and analyzed with a view on making the machines smarter.
IIoT is an enterprise application of IoT. Basically, this is a convergence of operational technology (OT) and information technology (IT). The technology focuses on M2M communication in the context of machine learning and big data. Application of IIoT boils down to the use of robots, smart medical devices, smart construction equipment and so on. The use of IIoT specifically targets more efficiency and, hence, cost cutting in day to day operations.
The significance of IIoT is apparent in the amount of money companies are spending on the technology. An IDC analysis found that manufacturers are likely to spend $197 billion in 2019 on IIoT. Transport companies and utilities will each spend $71 billion and $61 billion respectively. On the contrary, projected spending on IoT for 2019 is $108 billion. Clearly, IIoT is a huge market.
What experts are saying about IIoT
Obviously, IIoT will revolutionize industry. However, data will play a pivotal role in the unfolding of the revolution. According to Kevin Lewis, Vice President, Siemens Digital Factory Division in Washington, US, data is quite significant in IIoT. He said, “The IIoT is reshaping preventive and predictive maintenance, and data is the new currency. Data available through IIoT takes the traditional value chain and transforms it into an integrated product with a production lifecycle.”
However, implementation of IIoT is critical for companies to realize its full potential. Organizations will have to acknowledge that there is no a one-size-fits-all solution on how to incorporate the technology in their operations. Instead, this is a journey which involves a lot of adjustments and modifications. Importantly, organizations must ensure that the technology is complementary in that it will plug the efficiency gaps identified prior to employing the technology.
Echoing this perspective, Ray Kharawala, Lead Solutions Advisor for the North Carolina-based Dude Solutions Inc. said, “When starting to apply IIoT technology on the floor, it’s important to understand that it’s a process. The first step starts with assessing your current infrastructure, especially the critical assets and those that are IIoT capable.”
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