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They can be accessed and controlled remotely by computer or smartphone apps. Today’s smart home features appliances, entertainment systems, security cameras, and lighting, heating and cooling systems that are connected to each other and the internet.
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PwC’s report sets out a roadmap for IIoT transformation, prepping the experts – including CIOs from leading global manufacturers – to put together a vision for manufacturing that is based on the 4IR technologies” he explained.Houses have been getting progressively “smarter” for decades, but the next generation of smart homes may offer what two Case Western Reserve University scientists are calling an “Internet of Ears.” Their role is to ‘normalise’ innovation in large, complex organisations, drawing on a new capacity to intelligently connect people, processes and data through devices and sensors” ” For manufacturers, this creates the prospect of the digital factory where ‘smart’ manufacturing technologies are controlling energy, productivity and costs through real-time monitoring and application of data insights.
The next big thing on the internet driver#
As PwC points out in this report, the CIO is the key driver in helping organisations to adopt IIoT, aligning business strategy with technology transformation. Khurana added.Ĭommenting on the report, Badr Al-Olama, Chief Executive Officer, Strata Manufacturing, and Head of the Global Manufacturing and Industrialisation Summit Organising Committee, said: “For the manufacturing sector, the Industrial Internet of Things is at the heart of 4IR. PwC has facilitated the development of the pilot programmes being discussed and presented at GMIS,” Dr. “Supporting the GMIS vision to promote manufacturing and industrial innovation driving towards sustainable development and contributing to wealth generation and prosperity, PwC has facilitated connections between enterprises of all sizes that are now embracing the 4th Industrial Revolution, or 4IR, and embracing IIoT. These steps include key elements such as the development of a digital strategy, building capabilities and eventually, initiating pilot programmes.” Our research into the IIoT domain suggests that CIOs take six important steps towards their companies’ future digital transformation, which has been outlined at length in the report. First-mover status is critical to gaining a competitive edge as companies begin moving en masse to reap the benefit of digitization. It is indeed an opportunity that few will want to miss. Anil Khurana, Partner, Strategy & Innovation at PwC Middle East and the report’s lead author, said:”The IIoT will place huge demands on the CIO. The sheer size of the Industrial IoT opportunity, which PwC says far outweighs all expectations of the consumer oriented IoT, means that CIOs will have to take centre stage in leading a digital transformation that aligns strategy and technology with the manufacturing environment and the manufactured product.ĭr. Those companies expect $421 billion in cost reductions and $493 billion in increased revenues annually from the implementation of IIoT, with 55 percent expecting a payback within two years. That transformation to IIoT is materialising fast, cited a recent PwC Industry 4.0 Survey which found that industrial companies are planning to commit approximately $907 million annually to their IIoT initiatives.