You are in the year 2020 (not far off actually!) and your refrigerator ensures that you have a fresh supply of milk when you run out of it.
And you thought that IoT is just hype in the world of technology?
If you fear this unknown technology, here are some success stories that are inspirational to start thinking about using it in your industry.
1. ALEX AND ANI’s connected AppMost of you might own an Alex and Ani bracelet. What you did not know is that the Alex and Ani is not only awesome at jewelry but also in harnessing the power of IoT to increase sales. Utilizing iBeacon (location-sensing technology of Apple) they attract nearby users into their jewelry locations. Their new app tracks customer purchases and makes smart recommendations to them in store. It is also ensures increased revenue, since this technology tracks where shoppers are walking in a store and determines the best place to showcase certain products.
2. Healthsense’s eNeighbor
A senior care health service provider’s eNeighbor utilizes sensors integrated with remote monitoring capabilities. They can sense when seniors have wandered or had a fall or even forgotten to take medication. Additionally, the system includes an emergency call pendant, allowing patients to call for help if needed. This has been a boon to the senior health care market.
3. First Responder Apex Program
In this pilot program by Dept. of Homeland Security, sensors from smart devices like smart shirt, smartwatch, vehicles, cameras conveyed crucial situational awareness information to first responders (fire, law enforcement and emergency medical assistance). This would assist in expedited response at a disaster site.
4. Disney world Magicband
You have either heard of or used Disney’s Magicband. Guests use Magicband to access all amenities in the park, whether to check-in to their hotel or reserve rides or buy food. The Magicband is embedded with sensors that use RFID to track the actions of guests. This helps Disney to optimize their services according to the demand.
5. Schindler elevators’ smart systems
We have all ridden Schindler elevators. Used by a billion people in 100 countries, this 141 year old business is always ahead in innovation. Using IoT, their real-time maintenance system connects sensor technology with mobile applications, creating a "digital tool case" for the company's more than 20,000 field workers. This allows their service engineers to correct the issue before the customers can notice the problem.
6. King’s Hawaiian FactoryTalk
Manufacturing has always used sensors in their equipment. With the advent of IoT, these sensors are now connected to the Internet. King’s Hawaiian were able to double their food production in their connected facility in Georgia compared to a similar unconnected facility in Hawaii.
The machines were connected to a software platform called FactoryTalk, which allows managers to view real-time information, providing a production-wide overview of plant operations. The result was faster time to market, workforce efficiency, and smarter cost expenditures.
7. City of Dubuque’s Water Management System
A lot of cities are vying to become a smart city but only very few have implemented a tangible IoT solution. The City of Dubuque’s DBQ IQ Watermanagement system is an excellent example of the social use of IoT. Utilizing Neptune Technology’s radio frequency meter interface unit, the residents of the city were able to view their water consumption and leaks. This resulted in a 6.6% reduction in water usage and a 11-fold increase in the amount of reported leaks.
8. Airbus Factory of the Future
You can only imagine the number of parts that go into manufacturing an airplane. Aerospace industry has tons of automation in their assembly process but also has an abundance of manual processes. Hence, Airbus introduced smart tools that use visual algorithms to monitor complex functions like precision drilling as well as automated testing. This helps Airbus to deliver their airplanes faster to customers. With a nine-year backlog of orders this would be greatly appreciated,
“If I can get [the airplane] one day earlier to the customer, I would be very happy. I would receive my check one day earlier and the airline would be able to put the airplane into service one day earlier,”says Hentz, the Director of Innovation at Airbus.
9. Remy Martin’s Connected Bottle
A fun and successful example of IoT is Remy Martin’s (the French cognac producer) introduction of the “Connected Bottle”. By introducing a solution that detects bottle opening, they managed to reduce counterfeit alcohol in China. In addition, they have also had increase in their Club customers. These high-end customers are providedan app that includes loyalty membership and an interactive platform.
10. Port of Cartegena, Colombia
One of the busiest ports of Colombia engaged Cisco-IBM partnership to create aninterconnected hub of data. By installing thousands of IoT devices on cranes, vehicles, and shipping containers, data is sent for predictive analysis using IBM’s Watson platform. The port utilizes this solution to get ahead of equipment degradation, predicting maintenance and keeping machines running efficiently avoiding costly equipment failures.
11. Airport’s BlipTrack
Cincinnati’s regional airport (CVG) installed BlipTrack , a technology that utilizes wireless signal tracking that collects locations of passengers based on their smart devices. This is helpful in optimizing traffic flows and reduced wait times at check-ins and security. CVG has noticed a reduced security line wait time by about 33% after implementing this solution.
In conclusion, if you have been thinking of IoT, NOW is the time to act. To get a fundamental overview on this topic, check out our session next Wednesday, June 15th.
“15 minutes could save you 15% or more on car insurance” immediately makes you think of GEICO. By hearing this multiple times, the adage is stuck in your head and the next time you pay your car insurance, I’m sure you have thought about GEICO at least once to see if there are potential savings.
Most organizations today are challenged with justifying their IT budget due to poor user adoption of new software. This also leads to productivity loss, wastage of resources and a disrespectful outlook of the IT department.
You can learn from the world of commercial advertisements ‘rate of adoption’ technique very successfully when introducing new software applications in an organization. If there is a manual process being automated or new software replaces the old (think Oracle Sales being replaced by Salesforce.com), the ROI (return on investment) and the potential savings can only be achieved if more and more users start utilizing the newly introduced application.
The challenge is that old habits die hard and users would rather stick to their tried and tested methods.
Here are 4 tricks that can help you increase the rate of adoption:
What are you doing to increase your adoption rates?
Please share your thoughts in the comments or tweet me @SwathiSambhani.
There is always a tug-of-war between the Line of Business and IT departments. The LOB has a long list of projects for IT and the IT teams have limited bandwidth and resources. Does this story sound familiar?
Are you also challenged to bring about innovation to the forefront when there are burning issues to keep the lights on with your IT staff? The answer seems to lie in a team dedicated to Innovation.
Let us take a look at what successful non-technology companies are doing to bring tech innovation to their enterprises and hence, differentiating themselves far ahead of their competitors.
Case Study 1: Lowes Innovation Labs
When you think of innovation, have you ever imagined your local hardware store to be the first? Lowes has busted that myth by presenting the first in-store robotthat helps you locate any hardware part that you are looking for. They are also the first to introduce the Holoroom, where customers can visualize their designs using virtual and augmented reality. According to their chief of innovation, Kyle Nel, “while 99% of the company focuses on their daily routine, a small innovation team works with some partners to bring about these exponentially changing elements”.
Case Study 2: Banks – Capital one labs, Citi and Visa Labs
When it comes to innovation labs, the banks and financial institutions are a little behind Lowes. Their initiatives focus on incremental digital change rather than major disruptive and transformational technologies. Most of them are releasing better user interfaces on their tablet and mobile apps for the consumers. But, there has been an increased technology focus on their business clients.
For example, U.S. Bancorp earlier this year added "virtual cards" to its mobile corporate payments app, as a way to limit the number of physical cards it issues to employees.
Digital corporate payments can be more easily tracked and can be linked to an expense management system, eliminating the tediousness of expense reporting.said Dominic Venturo, chief innovation officer for this Minneapolis-based U.S. Bancorp.
Case Study 3: UNICEF Innovation Labs
If you thought only commercial organizations are investing in innovation, UNICEF proves us wrong. It’s innovation initiative has been running for the last couple of years but this year they triggered impact investment of $9 million towards startups that focus on empowering young people with technology. A successful example has been eLearning Sudan that helps nearly 2 million primary- school aged children in Sudan who have no access to education.They adopt a philosophy of rapid change “90 percent of our stuff fails, but that's okay. We just want it to fail quickly." says Chris Fabian, co-leader of the UNICEF Innovation Unit.
Case Study 4: Real estate Westfield Corp
Real estate has been a traditional business but we will take a look at how one established company, Westfield corp. is innovating to not only be financially successful but also attract millennials to their space. With the help of Westfield Labs, they recently announced one of their major new initiatives, Bespoke. Bespoke is an open-concept office space available inside a San Francisco mall. It also has a cool demo stage and a business theatre, which is very attractive to those who want to mix a little fun with work. They have also embraced technology by introducing innovative apps that allow Wifi and GPS tracking to enable easy parking for customers. Their apps also allow customers to buy something while at the mall and have it delivered at home and last of all, their “Dine on Time” app that allows for reservations at restaurants within their center or scheduling a pick-time.
Case Study 5: GE
I would not do justice if I do not mention one of the most admired companies in the world, GE. It is amazing that GE always manages to be at the forefront of innovation for the last 125 years. Their method of innovation involves their employees becoming intrapreneurs (entrepreneurs within their organization). GE Fast Works is the program where employees can take innovative ideas and pitch to their executives. They are then awarded funding to implement it in a 90-day sprint. Since starting the Fast Works, GE has seen increased productivity, product innovation as well as attracting millennials, who would get the same job satisfaction as working for a startup.
The success factors of these innovation centers are many. The four main critical factors are presented below.
Conclusion: There are ample examples of innovation in large enterprises that you can learn from. You can also look at your industry trends and see how you can disrupt your competition. If you are thinking about Innovation in your organization, it is not too late. Now or never should be your motto.