IoT Slam Keynote: The Rise of the IoT Application with Chris O'Connor
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Chris O’Connor discusses the significant growth and economic potential of the Internet of Things (IoT), highlighting its expected $11.1 trillion impact by 2025 and widespread adoption across industries. Key transformations include enhanced operational efficiency, improved customer experiences, and the creation of new revenue streams, driven by connected devices and predictive analytics. Various case studies, such as Whirlpool and DTE Energy, illustrate successful implementations of IoT solutions that optimize costs and increase safety.
IoT Slam Keynote: The Rise of the IoT Application with Chris O'Connor
- 1. Chris O’Connor General Manager of IBM Watson IoT Offerings The Rise of the IoT Application IoT Slam June 21, 2017
- 2. The Rise of the IoT Application1 The Internet of Things has taken hold $11.1 trillion IoT economic benefit by 2025 McKinsey 22 billion IoT devices installed by 2018 IDC 7 million Twitter mentions YTD Twitter IoT is making a big impact… 130+ VC financings in 2015 (up 100% YTY) CB Insights $3 bn Invested by IBM …and garnering major investment. 60% increase in M&A activity in 2016 with $40 million in total value TechTarget IoT Agenda
- 3. The Rise of the IoT Application2 Improve operations and lower cost Enhance customer experience Organizations are looking to the IoT for three primary outcomes Transform and generate new revenue streams
- 4. The Rise of the IoT Application3 IoT transformation is being driven across industries InsuranceAutomotive BuildingsIndustrial products Travel & Transport Electronics Retail Energy and Utilities Aerospace & Defense Manufacturing
- 5. The Rise of the IoT Application4 But it’s no longer a big deal to just hook something up We’re entering the era of the IoT application InsuranceAutomotive BuildingsIndustrial products Travel & Transport Electronics Retail Energy and Utilities Aerospace & Defense Manufacturing Connected Car Predictive Maintenance Connected Fleet Connected Elevators Wearables for Worker Safety Digital Twin for Maintenance Intelligent Equipment for Manufacturing Quality Connected Appliances Store Wellness Smart Grid Asset Health
- 6. Connected appliances reduce Whirlpool’s IT costs with cloud-based hosting and solution as a service delivery. Additional value is being driven through a new link from customers to warrantee services, product design and automated retail replenishment. Connected Appliances Whirlpool is seeing a 70% decrease in customer service calls, and a 50% reduction projected in service and parts provision costs
- 7. Wearables are enabling identification of potentially problematic conditions by data from wearables to alert workers of hazardous conditions in real time. Wearables for Worker Safety North Star BlueScope Steel is using wearables to protect workers in extreme environments
- 8. Store wellness A large international retailer drove 18-38% lower store operational costs 90% reduction in alarm volume 100% automated work order generation 2-3 weeks advance notice of failures 10-12% energy consumption reduction Additionally, shopper insights drove a 7-14% Increase in sales
- 9. 8 AssetHealth DTE Energy is leveraging an IoT for Energy solution to implement an analytics roadmap in support of asset health and reliability DTE is responsible for delivering electricity reliably to over 2 million customers in SE Michigan. They ensure the power is always on with predictive analytics and maintenance from Watson IoT for Energy.
- 10. With over 24,000 buildings to manage, it became a cumbersome task for Sodexho, a French food services and facilities management company, to manage over 1.2 million assets, 7,000 technical users, and 100,000 self-service portals for clients to request services. FacilitiesManagement Sodexo shifted to a facilities management solution and saw a 20% reduction in total cost of ownership 12
- 11. Predictive Maintenance GKN Driveline has moved to 100% of production assets handled by preventative maintenance GKN is using this asset management solution to analyze years of maintenance, usage and failure data to spot points of potential vulnerability within production lines.
- 12. SmartGrid Fingrid Oyj has seen 99% faster fault analysis using real-time data from grid management systems 12 Spatial analytics enable instant issue location across a 14,000 km network, leading to Smarter investments with a modern, future- proof grid management solution
- 13. Digital Twin DAQRI is gaining predictive insights with AR Digital Twin This augmented reality helmet allows workers to ask questions and control the digital twin with voice. Digital twin provides current status and predicted failure date.
- 14. Transforming into a Services Company KONE is using the IoT to intelligently service over 1 Million elevators and escalators that move 1 Billion people a day. KONE is leveraging its position as a single point of control of people flow to transform into a services company by capitalizing on IoT data.
- 15. Thank you Find out how we’re innovating with clients and partners at: IBM.com/IoT IBM.co/digitaltwin