The Four Pillars of Opportunity

Prith Banerjee, EVP & CTO, Schneider Electric

I had the opportunity to present at IoT Solutions World Congress in Barcelona. During my keynote presentation “Leading in IoT with Innovation at Every Level” I discussed how the Internet of Things (IoT) and the convergence of Operational Technology (OT) and Information Technology (IT) are enabling companies to deliver more innovation at every level, from connected products to edge control, from services to software, both on premise and in the cloud.
Already in 2016, the Internet of Things is delivering value – and has the potential to create greater value over time through ongoing innovation – in the following areas:

1. Maximum energy efficiency and sustainability

Energy and sustainability professionals as well as leaders in IT and operations management must maximize efficiency at every level of their operations – of a building, multiple buildings, factories, a global supply chain or even an entire city. To do so, they must connect multiple forms of data, including energy use, utility costs, water consumption, and building occupancy, from multiple sites and sources. Today, the ability to gather precise data from systems around the world and turn it into operational intelligence through IoT and data analytics is enabling sustainability solutions to solve strategic business problems and drive profitability and performance.

2. Asset availability and performance

IoT is also delivering value in asset availability and performance. Through predictive analytics, mission-critical machinery can operate continuously, avoiding costly shutdowns. It can also run more efficiently, using less power and performing within specifications, which can extend product life.

3. Smart, productive, profitable operations

By giving “a voice” to every asset in a production line, manufacturing process, building, or grid,” IoT breaks down the long-standing barriers between the worlds of OT and IT, opening up dramatically better ways to operate a business. With OT “chiming in” on environmental conditions and performance in real time, every machine, person and information system from the shop floor to the top floor has a chance to improve the overall process by leveraging accurate operational data.

4. Mobile insight and proactive risk mitigation

IoT is helping businesses unlock value and get more out of their existing systems, bringing "things" to the forefront of their strategies without having to "rip and replace." This holds true, too, for another area deriving value from IoT solutions: mobile insight and proactive risk mitigation.
One of the toughest jobs in a plant is troubleshooting and fixing machine problems. By tagging all machines with sensors and loading an augmented reality mobile application, a plant operator can simply hold up a tablet in front of the plant environment, the machine, or even the outside of the building to view real-time data that pinpoints what needs attention or service.
At Schneider Electric, we believe that the connectivity of everything is accelerating the convergence of energy, automation and software, allowing us to deliver more advanced technology and innovation at every level. At the end of the day, we all share the common goal of making the industry more connected, safe, reliable, efficient and sustainable for today and for future the generations.