Internet of Things: Changing the Concept of Industrial Business

The hit of this year’s International Consumer Electronics Show were driverless cars. However, in nowadays reality they are nothing more than toys for elite. And what has real potential in the future is called Industrial Internet of Things (IIoT) – a network, made of interconnected machines and devices in the industrial sectors. According to the Accenture’s explorations, the development of this network could enrich global economy by 2030 by adding 14,2 trillion to it. Still, only the most progressive companies pay attention to the possibilities of the Industrial Internet of Things – or those, who work in the field of consumer electronics, of course.

By now, the companies which plucked up their courage and modified their business models and working processes, did so to increase the level of worker safety, to decrease the operational expenses and to enhance their productivity – and none of them showed regrets afterwards. What stops other entrepreneurs from getting obvious profit? Different causes.

First – the inevitable consequences for the workforce. Though people tend to complain about dangerous or hard jobs, they will resist the digitizing of such jobs in order not to lose their positions. On the other hand, what most companies don’t understand, it is that IIoT will, after all, create many new places and occupations.

Second – the expenses. Even with the realization that smart technologies will save them a lot of money later, entrepreneurs find it hard to buy expensive equipment. However, cheapest is the dearest – it is more reasonable to pay once than to lose certain amount of money every month.

Third – some entrepreneurs find it hard to believe that their particular field can be somehow involved into the Industrial Internet of Things. The thing is – absolutely every industrial field can be equipped with smart technologies that will simplify the manufacturing process. If one doesn’t put enough efforts into developing his business, getting contacts with new partners which can provide him with necessary software and technologies, he may be sure that in the nearest future his company will become uncompetitive. It would be smart not to push one’s luck and to use the logical thinking.

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