Tuesday, January 14, 2014

Intersection of All Things: MassTLC Internet of Things Kickoff

Last Thursday over 200 people came together for MassTLC’s first program on the Internet of Things. With a keynote discussion given by Peter Coffee, VP for Strategic Research at Salesforce.com and follow up Q&A moderated by Christopher Rezendes at INEX Advisors, attendees were given a glimpse into what IoT REALLY means and the abundance of opportunities that exist. You can see Peter’s presentation here.

A main take-away was that IoT is all about creating new value, not necessarily new products.  Companies must recognize in the end they are selling profitability and their products are just the vehicle to obtain that.

Given the projection of 50 billion connected devices by 2020, the winners in the IoT space will be those that provide the best experience for the customer. People expect more from services than they have in the past and they respond much quicker to displeasure.  Thus, creating a true need for faster response time from the provider. Or even still, acting ahead of the customer and ensuring a seamless experience.

So how does it all begin? There is a need re-think many things, first how we network. Today we focus on where we are going and what do we have? This needs to shift to where we were?; when?; and how long will it be useful?

Next is the need to enable negotiation, not just transactions. Devices must be connected to people and their behaviors, not just other devices. This creates a need for people to trust software, to have the ability to only interact with the thing they want to interact with and not worry about how or why it works.

The program concluded with our attendees participating in an exercise to map out the region’s IoT industry, adding their companies to the four main buckets we identified: Sensor Technologies, Software, Platforms, Networks & Connections. Check out the map here and make sure to email Sara at sara@masstlc.org if you want to add your company name.

No comments: