Industry 4.0 and IIoT (Industrial Internet of things) are the primary trends affecting industrial businesses today. However, these are much more than just flashy catchphrases. IIoT is considered to be the path for future success – most of the industries leaders do have a common understanding here.
Over 170 manufacturing decision makers around the globe were recently gathered by Genpact Research Institute and IndustryWeek to get some real insight about transformation in industrial business with IoT – adaption, challenges, and potential. Adopting any new technology and getting it accepted widely means getting the clear return on investment examples from peers and competitors. Few companies have fully implemented IIoT and most of the more practical applications have not yet been developed.
Research confirms that the top challenge of IIoT remains to be data security. But it also comes out that followers are dealing with legacy system challenges, insufficient IT staff skills and an inability to experiment with new technology. Solid expertise is something which cannot be underestimated while adopting any new technology or approach. Whether it is integrating existing solutions with IIoT or new ideas that need a practical and working solution – if necessary competences are missing in-house, outside expertise might be the best way to get you going.