Takeaways from the Dec 2017 Forbes State of the Internet Report
Almost two-thirds (64%) of companies believe the IoT is important to their current business, >90% believe IoT will be important to the future of their business, of all emerging technologies, executives believe IoT will be the most important, 51% of respondents say their company has significant IoT programs in operation or that these programs are a major contributor to their business
When building out IoT capabilities, companies say their greatest challenges are the inability to present a compelling return on investment (32%), keeping the IoT secure (32%), cross-department cooperation (31%), integration of disparate data (30%) and availability of skilled staff (29%).
First, unlike more specialized applications like drones, IoT is seen as part of the future of virtually every industry from healthcare to financial services to transportation. Second, by being integrated into legacy operational technologies, IoT costs less to implement compared to other technologies. And third, IoT generates substantial new data that feeds other advanced
technologies, like artificial intelligence or automation solutions, thereby accelerating transformation even faster.
Successful IoT teams include the CIO as the executive sponsor and the CTO as the manager of the day-to-day. Additionally, the teams include contributions from head of line of business, external IoT vendors, VP of information technology, product designers, security specialists, programmer, and
mobile communications specialists.
81% use a third-party IoT platform and 66% include partners as part of their IoT development team. The most commonly engaged partners in IoT programs include operational technology vendors, IoT specialist consultants, systems integrators, strategic consultants and IoT software/hardware vendors.
IoT is a force to be reckoned with and will continue to spike with ubiquitous Internet access and infrastructure-as-a-service. The time to engage is now, to keep your partners and customers ahead of the learning curve. TekEfficient can help. Schedule a time to speak with our consultants and maximize IoT success.
Read the full 21-page report on the Internet of Things prepared by Forbes and sponsored by Hitachi. There are charts, pull quotes from top IT executives, analytics and projections that will help you understand the past, present and future of one of our generation’s most transformative technologies.
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