Ep 10. IoT for Business Leaders

Greetings everybody!

Today, we will talk about why people and experts coincide that IoT is a game-changer to build an augmented reality around the customer and inside your business.

Would you mind explaining IoT in simple words?

IoT (Internet of Things, or IIoT Industrial Internet of Things) is a family of sensors.

But, Jose, a sensor? That doesn’t seem like a cool thing; we’ve been using sensors for decades.

• Yes, indeed we have. In the past, many of these sensors were used for industrial remote monitoring or sensing, a.k.a. telemetry.

So why is this new IoT family of sensors so appealing?

Because these sensors send their information to a central site via the internet. Huge difference.

Now you can gather information about a remote asset via the internet and build an augmented reality in real-time due to the following improvements:?

• Sending information from ubiquitous locations (Cloud)
• Scalable computing processing power (IT Hosting model)
• Intelligent algorithms (Artificial Intelligence, Machine Learning) so you can detect and predict an outcome
• Sensor low energy consumption
• Sensor security

What is augmented reality in this context?

Many professionals recognize augmented reality as a virtual device that can build content to an image, i.e., augmented-reality glasses. Still, this term has a broader use related to an interactive experience of a real-world environment where the objects (or the event) are enriched or enhanced by computer-generated perceptual information.

In this context, each sensor provides additional information for the company to have a holistic understanding of the event:

Customer-related: Emotions, biometric information, timing processing information, reasons for rejecting an offering, location, etc.

Process-related: working conditions of legacy assets not capable of being monitored and managed by their legacy systems.

Have you realized that a robot is a physical device comprised of thousands of IoT Sensors and IoT Actuators that play together via centralized and distributed software?

What are some IoT and IIoT use-cases?

This is an area of constant innovation with hundreds of use-cases in many industries.

There are mainly two families of use-cases: User Customer-centric (IoT) or business process-centric (IIoT).

By having a real-time understanding of the event monitored, you will now be able to provide three categories of improvements:

• Identify and support customer preferences with personalized services adapted in real-time (Long-term Customer Loyalty).
• Identify, predict, and mitigate risk scenarios (Business continuous improvement).
• Identify areas subject to Operational efficiencies and cost reduction (Increase margin leveraging customer satisfaction).

A quick example of some use cases where IoT devices allow the creation of augmented reality:

• Financial Services: Fraud protection
• Banking: Smart Payment Contracts
• Food and Beverage: Improved Food Safety
• Manufacturing: ?Predictive maintenance

or even outer space.

Final comment?

There are many opportunities to learn using these technologies. It is a must to have a trial-error approach.

It is beneficial to have a reviewed and improved Application Quality Management approach.

If you want to know more about this topic, please let me know; I will be glad to assist.

Good enough?

As I said before, my goal in writing these episodes is to share a thought on areas of improvement and risks ahead among business leaders.?

I think it makes sense in this Newsletter to talk about business challenges and technology components of digital transformation.

Are you in agreement? Please let me know by sending your comments or direct messaging.

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