23 Jan Digitizing Physical Assets for Top-Line Growth
Episode 12
Accenture identified IoT as a bona fide trend in its 2014 Technology Vision Report, with the thesis, the digital-physical blur is extending intelligence to the edge. So why has it taken 10 years for IoT to get its due respect?
According to Prith, it’s only now that companies are seeing the value. This comes down to three trends:
- Sensor technology costs are dropping. Can’t have the projected 50 billion sensors if they cost $100 and energy consumption is starting to be realistic.
- Storage costs have dropped. Prices that used to be $15-$20 per terabyte are now down to almost no cost and it’s now practical to do real time/big data analytics on this data – something that wasn’t really possible in the past.
- Communications infrastructure is now here and ubiquitous. Cost effective connectivity at any place, any time has arrived.
Watch this video to hear Prith Banerjee explain why Accenture thinks the real opportunity in IoT is in unconventional growth – top line growth. How new services/apps can be created when physical assets are digitized and how journey from a product company to a platform company is transformational.
Find out more at Accenture Industrial Internet
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