IoT from Vision to Action
July 10, 2017
Last week we attended the “Hong Kong Internet of Things Conference 2017” focusing on three areas of IoT technology innovation in our daily lives for a smart city development: Smart Living, Smart Healthcare and Smart Business. It was an action packed event with 2 keynote sessions, 3 plenary sessions, 2 panel discussions and 9 breakout sessions.
The conference theme was ‘IoT from Vision to Action’, with the main message focusing on “The Internet of Things (IoT) is key to achieving digital transformation”. Seven key industry leaders from a variety of organisations including, Accenture, HKSAR Govt and Microsoft, inaugurated the event and provided a variety of expertise and viewpoints on the topic.
Some of the key takeaways came from Robert Burton, President, Hong Kong IoT Industry Advisory Council mentioned during his welcome note that “plenty of challenges exist in IoT but it’s necessary to bring together the industry to facilitate interoperability between different applications and devices to truly realise the potential of IoT. Interoperability is the key” With Ivan Chan, Managing Director, Accenture China adding “The next 10 years is the golden age for consumers”. He later added that he believed there will be a redefined digital customer value, which will be assessed on the touchpoints of cost, choice, convenience, control and overall experience. It will be interesting to see how IoT business opportunities will provide automation, reduction in manual errors so less bottlenecks.
Another interesting quote came from Nicholas Yang, the Secretary for Innovation and Technology, HKSAR Govt as he discussed how “the government is most interested in putting IoT applications to popular use by the community, and stimulating further development of industries and our economy”. He further pointed out some of the actions the HK government has taken over years such as deploying sensors at strategic routes to collect real-time traffic data, in manholes of city storm drains to detect water levels, and inside the slopes to detect impending landslides.
The application and benefits of applied sensors was something that several of the speakers commented upon. Executive director of Hong Kong International Airport, Cissy Chan said there were already about 10,000 IoT sensors deployed at the terminal to help monitor and analyse passenger numbers, luggage handling, retail traffic, and even toilet usage. Whilst Shounak Mondal from Schneider Electric shared his experience of how sensors which were added onto the machines analysed the machine failure beforehand, saving the life of patients. This way predictive analysis will lead the predictive future in coming years.
Overall it was an interesting conference, which certainly provided some food for thought. It will no doubt be a time for change in the technology sector during the coming years as more organisations look to embrace IoT as the consumer demand becomes even greater across all sectors.
Some of the other key takeaways from the day were:
- Gartner predicts 8.4 billion connected devices by end of 2017
- IoT is nothing without Big Data or AI. These three trends need to be interconnected to deliver powerful results.
- Predictive future is the way forward
- Asia Pacific, excluding Japan, is projected to be the IoT investment leader among geographical markets, with annual expenditure expected to reach US$455 billion by 2021
- The largest IoT investments this year are in manufacturing industry with US$183 billion, transportation with US$85 billion and utilities with US$66 billion.
- Ecommerce penetration to rise from 10% to 40%
- Predictive Security is the next big thing
Did you attend? We would love to hear what you thought about the IoT discussions? Tweet us @adjunosolutions
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