Segment 1

Peggy Smedley, IoT Industry Expert, Specialty Publishing Media
Peggy says two combined factors—global population growth and urbanization—could result in another 2.5 billion people living in urban areas by 2050. She asks the question: What exactly is going to happen when more than half of the global population resettles in urban centers? She suggests smart-city services are going to be an important part of how we solve the urbanization puzzle, from smart buildings and smart grid, to connected transportation and connected infrastructure.

Segment 2

Chris Smith, vice president, service innovation, Otis Elevator Co.

Peggy and Chris Smith, vice president, service innovation, Otis Elevator Co., talk about how big-data analytics are changing how it provides services. He says it is a transition and it is learning as it goes, but the first thing it did was collect a lot of data. When he looks at what customers want, they want elevators up and running, so it looked at data and how to solve customers’ problems. The company also identified how to create a predictive model and turn it into a proactive scheduled maintenance visit, and still do the maintenance, but during a time that the customer wants to do it. Otis has built an algorithm around predictive door maintenance, and Smith explains the IoT helps because it can provide data to the customer about how the elevator is declining in health and how it can move the needle back to a healthy state.

Segment 3

Dan Miklovic, research fellow, LNS Research

Peggy and Dan Miklovic, research fellow, LNS Research, explains why companies struggle to get past the proof of concept on the industrial IoT side. He says too often companies pick a technology they think will be useful and implement it, but they haven’t thought about how they are going to change business. On the other hand, there are companies that know exactly what they want to do and then they try to do a proof of concept, but the technology is not yet economical or it is too fragile. The tips to be successful is to find that sweet spot where you are using technology that is ripe and ready for deployment and using it to solve a business challenge.