csuite Podcast, SHOW 71 – INTERNET OF THINGS 201

As published on csuitepodcast.com

"Produced in partnership with the European PR agency Tyto, in this episode, we Tyto’s Hype Report on the Internet of Things (IoT), hearing from a number of experts who contributed to it.

For the main part of the show, Russell Goldsmith spoke to Practical Futurist, Andrew Grill and Abraham Joseph, Founder of IOT insights, plus Stephanie Atkinson, CEO of Compass Intelligence also joined the discussion in the studio via Skype from her offices in San Antonio in Texas.

We also hear from two more IoT experts from the US, Dan Yarmoluk, Director of Business Development for IoT and Data Science at ATEK Access Technologies and Rich Rogers, who at the time of recording, was Senior Vice President for IoT Product & Engineering at Hitachi Vantara.  Finally, Tyto’s Managing Partner Brendon Craigie explains why he put this report together.

To download the full report, go to www.tytopr.com/iot

To begin with, Brendon explained that this was the first in a series of reports that Tyto intend to publish, looking at the hottest technology, science and innovation trends. He said that they picked IoT first because it’s one of the top five technology discussions that’s been going on over the past five years. It’s at the top of the Gartner Hype Cycle, with around a quarter of a million articles in 2017 focused on IoT, which is more than double the 100,000 there were in 2015.
Brendon added that IoT is very much a rising trend and the objective of Tyto’s reports is to cut beneath the hype to understand what’s really going on to understand the positive success stories as well as some of the barriers and challenges.

Data Collection
Given that making sense of data is a key part of Stephanie’s business, we went to her with the first question on whether we are set up to cope with all of the data that’s about to be thrown at us?
Stephanie had written in the report that “connected devices and assets alone are not what is revolutionary but what we can do with the information data and analysis of things that are connected is where we expect progress” and in fact, a lot of the comments made in the report naturally talked about the amount of data that’s being generated, which course is the bedrock of which IoT is built.  Also, according to IHS Markit, a global business research analytics provider, there will be more than 31 billion IoT connected devices in 2018 and just looking at the Automotive Industry as one example, Intel had previously put out a stat that said just one autonomous car will create 4000 gigabytes of data a day.

Stephanie said that one of the big things that we have to think about is that we can’t be in a position just to collect all of this data and it really not do anything, so that definitely is an issue from a carrier perspective as we have too much data being collected. She added that we have to really think about this systematically – we have to look through each and every component. First of all, how often are we collecting the data, is it monthly, is it weekly, is it hourly, is it ongoing? We also have to think about the priority, is this something that could take down our network? Is this something that could take down our supply chain, our business operations? Will this affect our customers? So those are other things that Stephanie said you have to think about.  And the last piece, she said, is, as we start to look through the data, some data might need to be combined with other pieces of information to really bring that level of intelligence to the business and really make it actionable. So, all these things are what’s really driving the data collection piece. But right now there’s a concern in the industry because we can’t be in a position where we’re collecting everything, we have to think about this in a systematic approach." READ MORE

Listen to the podcast: http://www.csuitepodcast.com/podcasts/show-71-internet-of-things-2018/ or
https://soundcloud.com/thecsuitepodcasts/show-71-internet-of-things-2018