“Internet of Things,” – IoT is the buzz word of the last few years in innovation and technology research. IoT is focused on intelligent devices, equipped with RFID tags, wireless sensors connected via wireless network, or over the internet. Understanding how it effects industries and ensures economic growth is essential in the new era of industrial internet. Marco Annunziata at TEDx demonstrates how technology is transforming the industrial sector; how intelligent machines that can provide better cheaper and faster services and can work more efficiently. The most affected industries are energy, healthcare, aviation, transportation and automotive.
Intelligent machines are equipped with sensors and software intelligence embedded into devices. This intelligence generates a lot of data and ensures better analysis leading to increased machine effectiveness, which in turn helps to optimize the use of machine capacity. Internet connected, self-aware devices are able to communicate each other, send notification regarding their malfunctions for preventive actions, and organize themselves to achieve better performance. Sensors, intelligent tags, and wireless communication capabilities allow remote, preventive management better maintenance, and helps to achieve zero unplanned downtimes.
Why is it important?
- In the aviation industry, yearly 10% of flight delays are due to unscheduled maintenance that generates 8$ billion additional cost (loss) for the industry worldwide. AS a solution aircrafts are equipped with sensors, that sends signal after landing to ground technicians for preventive maintenance. Due to this intelligence 7 million passengers are freed from delay, preventing 60.000 cancellations and delays, just in the US over a period of one year.
- In the healthcare industry everyday nurses spend an average 21 minutes per shift to look for medical equipment. IoT system for medical device tracking led to 1 hour less turnaround time and increased efficiency and overall healthcare performance. The economic scale of efficiency in healthcare means that 1% increase can provide 60$ billion saving in the healthcare industry worldwide.
- In the renewable energy sector intelligent wind turbines communicate with each other via wireless sensors, and automatically set their pitch of their blades according to the wind blow. They intelligently manage their performance, and therefore they generate more electricity, which cause cheaper energy production. It is an average of 5 cent per KWH, which was previously 30 cent per KWH.
Industrial Internet and connected innovation creates more new creative jobs, requires more high skilled people specialized for technology, increasing creativity and the standard of life. At economic scale it can generate 10$-15$ trillion GDP in growth.