Consolidating failing businesses
Those who have read my articles know that there is no company in the world, no matter how great it is, that can do everything in Io T.
Creating an Io T ecosystem either horizontal (technology) or vertical (industry) requires a lot of talent managers able to maintain win-win transactions over time.
News such as the merging of the Open Process Automation Forum (OPAF) is defining the next generation edge computing standards for industrial operators.
The Babel tower of alliance and consortia is consolidating, but people still get lost in the acronyms.
Businesses are estimated to be spending USD 426 Billion worldwide on Io T hardware and software in 2019 alone.
Yet, three out of every four Io T implementations are reported to be failing.
Perhaps it is not surprising that 30% of respondents say their Io T projects failed in the proof-of-concept (Po C) stage, often because the implementation became too expensive or the bottom-line benefits were unclear.
There are technical reasons – for example the use of Rasberry Pi or Arduino boards in the Po C and then later realising that more expensive hardware is needed for the actual project.