It’s been 15 years since the term “Internet of things” was coined by Kevin Ashton, a technologist specializing in sensors and RFID.1 Since then, various applications of IoT have evolved in industries such as automotive, healthcare and consumer goods, among others. The various technological developments in the IoT space can be explained through the information value loop (IVL), which serves as a linchpin for evaluating these advancements, and linking them in order to create value for companies as well as customers. Refer to the paper, “The more things change: Value creation, value capture, and the Internet of Things” for detailed discussion of the value loop.
Posted by Mark Cotteleer
I can’t help but think the future of manufacturing is already here. The robots, artificial intelligence and 3D printers found only in the science fiction movies and books of my childhood are now, or at least increasingly, a reality. Not only that, it also looks like they are becoming a differentiating factor for those manufacturing companies that will take the lead. As waves of change from multiple technologies continue to impact manufacturing processes and supply chains, manufacturers must decide which of these technologies to invest in and where to deploy them in order to drive the most benefit for their organizations.
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