We just wrapped up an amazing IoT Nordic event in Helsinki this past week. Over 500 Nordic industry leaders who leverage digitization gathered together to discuss success stories, insights and the challenges of adapting to the digital revolution. Symbio’s global CEO, Jacob Hsu and ABB’s Development Manager, Zhongliang (Ross) Hu spoke during the event, with a focus on why co-creation has been the success of ABB drives within the mobile space. Let’s have a closer look at where the digitization of the world is headed for almost every industry.
The opening speaker was Peter Hansen, the Regional Director of Tesla Motors. He focused on the development and success formula for Tesla. During this presentation, he noted that Tesla always wanted to build a car for the mass markets; including their first electric car (the Lotus). Why did they move forward with this strategy? According to Peter, Tesla’s plan was to package the electric car, which is not as naturally sexy as some other vehicles, and market it in a sporty and sexy way. This garnered the interest of media and the loyalty of the customers for the first production run of 2500 cars. He notes that consumers’ love for Tesla comes from multiple factors, including a well-planned customer journey from concept to engineering and into Tesla stores. Digital experience has always been the heart of Tesla, so customers are able to buy the car as effortlessly online as in stores. Through software updates, Tesla cars and the overall driving experience continues evolving to evolve. The Electric car has also proven to be much safer without the combusted engine in front that can dislocate on impact and crush the driver. The Tesla model 3 is coming to stores in 2017, with more than 300,000 cars sold in just one week. It’s fair to say Tesla’s strategy to disrupt the automotive industry and enter the mass market may have been a gem all along.
We also witnessed multiple interesting IoT solutions for traditional industries. One of the most interesting was the idea of smart windows, which ventilate and monitor room air quality. Based on the air quality, the window decides whether it should pull more fresh air though ventilation filters. This way, the room’s carbon dioxide level is always optimal. The solution saves energy, money and helps the environment. Another home related IoT solution was Flexim’s solution for keyless houses. Your mobile phone does the major part of the identification with little intelligence in the lock. Mobile identification brings effortlessness to living – entering the house without hands when carrying grocery bags or giving access to your property for maintenance, cleaning or renting your home through Airbnb. The solution has required open interfaces to multiple services like crime prevention, access control and fire safety.
In the industrial sector the IoT solutions vary from intelligence that is attached to cranes, containers, drives, factories and welding. The key message was to understand with acute knowledge, what your customer wants and what they value most, not what the company assumes they need. Automatic driving is not just pigeon-holed to cars, but also containers, cranes and ships. Customer value comes from the increase of productivity and efficiency. Intelligence does not only make machines work better, but brings efficiency to humans operating the machines. Many of the speakers from industrial companies also highlighted that the digitization of industries is so big; no company can manage it alone. This is why building a strong ecosystem with selected technology partners is the only way to stay competitive.
McKinsey presented their view of the global IoT opportunity. According to Michael Chui, the hype around IoT is bigger than we thought, but it takes longer to unlock the value. We can’t expect to see the results from IoT in one year, but results will be there long-term. IoT is estimated to be $3.9 – $11.1 trillion dollars in value by 2025. This can be segmented to different industries, and in different settings – human body, home, retail, office, factory, worksite, vehicle, city or outside. Operational efficiency also stands to gain from IoT – prediction and prevention – is the biggest area of evolvement via digitization. IoT allows us to rethink our decision-making process and understanding the customer journey utilizing better data-driven decisions.
Symbio and ABB have been collaborating in the digital services for the drives for several years. The key success has been building trust and open communication to speed the innovation from the start. We have used methods of fully integrated agile teams, rapid experimentation and design sprints to help elevate ABB and its products. ABB’s Zhongliang Hu highlighted how important communication, getting small daily wins, being accountable and tackling small problems quickly have been drivers for the success of the project. Trust + Over delivery = Partnership.
If you’re interested in learning more about industrial internet, IoT, software development, testing, and Connected everything, download our Symbio Overview Data Sheet or contact us at firstname.lastname@example.org. We’d love to learn what new innovation you’re bringing to market and how we can help bring it to life!