Industry of Things World is an international knowledge exchange platform bringing together more than 1000 high-level executives who play an active role in the Industrial Internet of Things scene and the leading Industrial IoT conference in Europe. StartupValley sat down with Industry of Things World event director Maria Relaki and talked about the current state of IIoT, the role of startups within the IoT ecosystem and what to expect from this year’s event.
StartupValley: What is the state of the Industrial IoT in 2017?
Maria Relaki: In 2017 the industrial IoT is still gaining momentum, but it already has a big impact on business strategies and IT infrastructure. McKinsey predicts the potential value that could be unleashed with IoT applications in the manufacturing space to be as much as $3.7 trillion in 2025 or about one-third of all potential economic value estimated.
The Internet of Things has been in the media as the next big thing for years. But implementing new technology in an enterprise needs time. So, 2017 is the year for big deployments, more use cases and monetisation. However, let’s not forget that IoT doesn’t stand alone in this digital transformation journey that companies are going through. The big question now is how do machine learning, AI, smart data and autonomous systems all work together in this field.