We’ve been saying and listening for some time that The Internet of Things has the potential to transform industries. In the Industrial Internet Consortium® (IIC®), the job is not to develop and invent technology, but to apply IoT in industrial settings to provide transformational business outcomes and find new disruptive products and services that change the way business is done. IIC brings together companies, research organizations, government agencies and industrial users (i.e. manufacturers, miners, banks, healthcare organizations, agriculture concerns, etc.) that either want to make an IoT product or make use of IoT technologies in the industrial space.
IIC helps them build testbeds, prototypes and/or demonstration systems to find those disruptive products and services to create transformational business outcomes. The testbeds also point to practical experiences in applying IoT. Who do you need to hire? How do you train your people? How do you find the right partners?
There are many IoT success stories in manufacturing, energy, transportation, smart cities, etc. We are going to see many, many more IoT success stories in the next couple of years. However, some of the innovations will fail; I am a real believer in failing. The IIC will have some testbeds that will not have successful outcomes but it will be extremely important to learn what failed.
The IIC is not a standards organization itself. It hands over standards requirements and priorities to standards organizations to officially formulize solutions that will make Industrial IoT solutions reliable, repeatable and secure. One such organization, of course, is the Object Management Group®, which focuses on semantic integration standards. One of the challenges facing IoT is the meaning of data moving around the network. Semantic integration is a difficult problem, and exactly what OMG has been focusing on for the past 15 or 20 years.
One great example is the Financial Industry Business Ontology (FIBO®) standard for capturing and communicating, in an unambiguous way, information about financial instruments that are traded around the globe. Developed with the EDM Council, FIBO is rapidly becoming the way that large financial institutions capture, communicate and integrate financial data so that it can be understood across vast chasms between systems.
I’ll be speaking about the current and future states of the IoT, and the IIC and OMG’s roles in both, at the IoT Evolution Expo from February 7-10 in Fort Lauderdale, Florida. I will deliver a keynote about the IIC, join a panel to discuss how companies can work together to gain the advantages of IoT and present what the future holds for IoT and how we will judge our future successes on Wednesday, February 8th. Register here and use the code IIC for a 20% discount.
I hope you can join me then.
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