TechExGlobal hosted IoT Tech Expo 2021, an enterprise technology exhibition, at London’s Business Design Center. The core focus of the exhibition and subsequent symposia was how to optimize the potential of the technology.
IoT: a long road to penetrating society
Since Kevin Ashton of Proctor & Gamble claims to have developed the concept of the Internet of Things in 1999, a lot has happened in this technology. From the comparatively simple idea of optimizing supply chains using RFID, IoT has evolved in many ways. Estimates currently put the number of IoT-enabled devices communicating with each other in real time, i.e. constantly exchanging data, at around 35 billion. For 2025, industry experts predict an increase to 75 billion. This includes certain apps as well as connected vehicles, buildings, industrial and private devices, and sensors that can connect them all. A year-on-year increase of up to 80% in the use of such applications is no longer uncommon for many companies.
IoT Tech Expo 2021: intelligent building management
One of the discussion points at the conferences was the issue of energy efficiency in buildings. Everyone was clear about the need to comply with the requirements adopted by many governments for potential savings. But many were also aware that this would not be unproblematic for all types of property. In addition to the high costs to be expected, there are often many hurdles in the way of implementing the requirements. This is especially true for facilities that are half privately and half publicly owned. But technical aspects can also play a major role if, for example, very old buildings are to be modernized in terms of energy efficiency. However, energy savings of between 10 and 15 percent through the simple sealing of windows and insulation of facades promise a worthwhile use of IoT platforms and control modules.
IoT Tech Expo 2021: Optimizing Business with IoT
Many of the attendees at the Expo could well relate to Palantir keynote speaker Harry Tayler’s thesis about inefficient operations from their own experience. Each of them makes countless decisions each year that can be objectively inefficient to the overall process. The speaker is convinced that IoT solutions could provide answers to the question of how company KPIs can be optimized here with the smallest of changes. After all, the smallest adjustments in production lines and supply chains can lead to considerable improvements.
IoT Tech Expo 2021: Success through measurement
The important thing is to start small when making changes and not to set up huge projects that no one will know what they are actually needed for afterwards. An example of this was the Microsoft world map, which, after a six-month development process, no one had a rough idea of future areas of application. On the one hand, the speaker recommends using the expertise of service providers who have already proven themselves in this area in order to save time during development. On the other hand, all measures taken must be measurable. Companies will only be able to hold their own in the market in the future if they can prove that they have been successful. When measuring their IT performance, many business sectors often only look at their sales figures, but increasingly neglect their savings potential and the adaptation of their rules and regulations. However, according to Sylwia Kechiche, Principal Analyst, IoT at GSMA Intelligence, it is the interplay of all three components that makes for sustainably successful operations.