{"id":4482,"date":"2018-05-02T16:09:02","date_gmt":"2018-05-02T16:09:02","guid":{"rendered":"https:\/\/www.pdsxchange.com\/?p=4482"},"modified":"2018-05-02T16:09:02","modified_gmt":"2018-05-02T16:09:02","slug":"ask-the-experts-iot-changing-the-way-value-and-profit-are-created","status":"publish","type":"post","link":"https:\/\/www.frost.com\/events\/innovation\/ask-the-experts-iot-changing-the-way-value-and-profit-are-created\/","title":{"rendered":"ASK THE EXPERTS! IoT: Changing the Way Value and Profit Are Created"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4483\" src=\"https:\/\/www.pdsxchange.com\/wp-content\/uploads\/2018\/05\/ThinkstockPhotos-851986820-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/p>\n<p>In this excerpt from the <strong>New Product Innovation &amp; Development Executive MindXchange Chronicles<\/strong>, panelists from a variety of industries discuss the state of IoT today, providing current business examples and separating the hype from real-world applications.<\/p>\n<p><strong>MODERATOR<\/strong><br \/>\nJeffrey Worsham, <em>Sector Lead, Innovation<\/em>, Northrop Grumman Corporation<\/p>\n<p><strong>PANELISTS<\/strong><br \/>\nApril Bertram, <em>Business Development Director,<\/em> Smartlink Solutions, GOJO Industries<br \/>\nAlex Goryachev, <em>Senior Director, Innovation Strategy and Programs<\/em>, Cisco<br \/>\nKyle Joseph, <em>Senior Innovation Strategist and IoT Catalyst<\/em>, Bosch North America<br \/>\nAsh Kulkarni, <em>Senior Vice President and General Manager, Web Performance and Security,<\/em> Akamai Technologies<br \/>\nBruce Wiatrak, <em>Senior Director \u2013 IoT Newell Brands<\/em> \u2013 First Alert<\/p>\n<p><strong>SESSION ABSTRACT<\/strong><br \/>\nIn the infant Internet of Things domain, companies are clamoring for differentiation in a rapidly morphing market space. Do you and your organization know the risks and opportunities? In this session, a panel of industry experts discussed what is working, and what isn&#8217;t, and how to capitalize on this $267B market.<\/p>\n<p><strong>KEY TAKE-AWAYS<\/strong><\/p>\n<ul>\n<li>Lessons learned? The (past) pitfalls and IoT security<\/li>\n<li>Examples of successful differentiation of IoT offerings<\/li>\n<li>Technology blueprints for compatibility, interoperability and interface centralization<\/li>\n<\/ul>\n<p><strong>INTRODUCTION<\/strong><\/p>\n<p><strong>Opening Thoughts about IoT\u2026<\/strong><\/p>\n<ul>\n<li>It\u2019s essential to know where customers are, what the emphasis is<\/li>\n<li>Some have begun to test IoT models within their organizations<\/li>\n<li>How do we connect workspace, devices, digital assets?<\/li>\n<li>How do we deploy IoT projects in-house?<\/li>\n<li>How do we get people passionate about IoT?<\/li>\n<li>IoT is more about connecting, making it intelligent, putting sensors on, feeding your brain \u2013 that\u2019s what IoT is<\/li>\n<li>But, how is IoT is going to affect your business, even on the industrial side?<\/li>\n<\/ul>\n<p><strong>KEY INSIGHTS<\/strong><\/p>\n<ul>\n<li>It comes down to making sure you\u2019re solving problems<\/li>\n<li>There is a cost and value to all these things (phones \u2013 can track us, but they also provide a lot of access)<\/li>\n<li>Ask: What is the solution it\u2019s providing?<\/li>\n<\/ul>\n<p><strong>Questions and Answers<\/strong><\/p>\n<p><strong><em>Question:<\/em> <em>How are we making sure devices are secure?<\/em><\/strong><br \/>\nDiscussion\/Answers:<\/p>\n<ul>\n<li>How do you protect the device from becoming vulnerable? Botnets were launching attacks on websites. People and companies are now realizing what it takes to make it safe<\/li>\n<li>In the future, you\u2019ll be able to authenticate communication between the device and the \u201cmother ship\u201d<\/li>\n<li>Hard to control, multiple layers to look at. Look at different layers of security. Do security protocols within layers when developing Iot<\/li>\n<li>We have to educate ourselves about security<\/li>\n<\/ul>\n<p><strong><em>IoT \u2013 How does it apply to legacy industries like manufacturing and agriculture?<\/em><\/strong><\/p>\n<ul>\n<li>When you connect it, you know the life cycle of the product. From when it leaves the floor to the end of its life \u2013 then you can feed it back into your business<\/li>\n<li>It\u2019s about making these businesses more efficient, predicting things, correcting problems. Now your business is a living organism. On the industrial side, it\u2019s about ROI<\/li>\n<\/ul>\n<p><strong><em>\u00a0What are some of the key success metrics for IoT?<\/em><\/strong><\/p>\n<ul>\n<li>IoT is a thing that harnesses communication and can assess performance. We need reasons for data, so we can see what we can discover<\/li>\n<\/ul>\n<p><strong><em>How do you use ecosystems to differentiate IoT?<\/em><\/strong><\/p>\n<ul>\n<li>Open ecosystems have different benefits. They can streamline costs. They can utilize existing systems to bring down cost with the add-ons. By partnering, you can better solve customer problems<\/li>\n<li>For example, a \u201csmart\u201d restroom \u2013 we\u2019re only one part of the equation, paper towels but with one goal of keeping bathroom clean. It\u2019s a better business model by opening yourself to partnerships<\/li>\n<li>Network business, enable start-ups to build on top of existing systems<\/li>\n<li>It\u2019s about re-imagining existing systems by connecting them<em>\u00a0<\/em><\/li>\n<\/ul>\n<p><strong><em>Can you share your thoughts about data transmission and data ownership? <\/em><\/strong><\/p>\n<ul>\n<li>It\u2019s an obstacle in our ecosystem, but it\u2019s actually the customer who owns the data. Connect end user to the whole data stream<\/li>\n<li>We try to say the brain belongs to you. We improve the brain to collect data<\/li>\n<li>This is not a new problem. Standards have evolved, not law, but standards that people adhere to<\/li>\n<li>A bigger issue might be data sovereignty. Data created in one country should not leave that country<\/li>\n<\/ul>\n<p><strong><em>How to get beyond the hype of IoT?<\/em><\/strong><\/p>\n<ul>\n<li>Standards need to be put in place. Costs have to come down. We need evidence that IoT is solving problems<\/li>\n<li>As consumers adopt IoT, they\u2019ll bring it to their workplace<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>In this excerpt from the New Product Innovation &amp; Development Executive MindXchange Chronicles, panelists from a variety of industries discuss the state of IoT today, providing current business examples and separating the hype from real-world applications. MODERATOR Jeffrey Worsham, Sector Lead, Innovation, Northrop Grumman Corporation PANELISTS April Bertram, Business Development Director, Smartlink Solutions, GOJO Industries [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":4483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[27],"tags":[],"coauthors":[],"class_list":["post-4482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pdslog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.4 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ASK THE EXPERTS! 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