Of the total potential economic value that IoT enables ($11.1 trillion by 2025), interoperability is key and required for 40% on average and for nearly 60% in some businesses. However research by Mckinsey estimates that just 1% of IoT data finds an actionable purpose—largely because tech makers use sensor data to capture anomalies in the system, not to optimize or advance their technology.
In this session we will discuss:
· The value potential of IoT and the economic impact
· How IoT applications create value in different settings--for example within cities/factories/homes
· What are the key enablers and barriers that lead to varying levels of impact?
· What are the implications for policy makers, users, and B2B organizations?
We will look at real-world examples to bring the subject to life. For example, Google unveiled two new initiatives, its Brillo IoT operating system and its Weave communications protocol, which trod new ground by branching out into industrial applications, connected agriculture and remote infrastructure. The market may not wait around for open-source standards to get everyone on the same command line. With as much as $11 trillion at stake, it could just take the fastest route and rely on those companies who succeed first in delivering IoT products.