This document summarizes an IoT business development workshop on industrial automation. It discusses opportunities in industrial automation projects but also challenges, such as long lead times and an overreliance on system integrators and customization. The document analyzes Microsoft's IoT portfolio and services and proposes that the business model evolve from licensing to a SaaS/PaaS model. It recommends rationalizing investments, prioritizing go-to-market strategies, recruiting more system integrator partners, and balancing project value and lead times.