Episode 11

The Internet of Things is making available a variety of new business models. One that has the biggest potential to radically change the competitive landscape is the outcome-based business model.

Don’t pay for the drill (product-based), or even the hole (service-based), pay for hanging the picture on the wall. However to get to this point, ecosystems of different companies must come together to solve the bigger problem, together. The Internet of Things enable platforms to support these ecosystems. The real-world example discussed in this interview is precision agriculture.

Outcome-based business models will start emerging in industry after industry with the dominant player in the overall solution having the best chance to consolidate the other solution companies onto their IoT platform.

Watch this video to also hear Edy Liongosari’s thoughts on the similarities and differences between the RFID industry and that of IoT, one of the biggest issues in IoT security and the place of the Cloud in Iot.

Find out more at Accenture Industrial Internet.