Industrial IoT: How IoT Has Evolved and Moved into the IoT 2.0 Era

 

Adam Livesay, Co-Founder of Elevat-IoT, remembers back a decade or more to hearing lots of people speculating about how the Internet of Things would change business and seeing competitors allocate resources to marketing rather than infrastructure or development.

Now, in the midst of what he calls the era of IoT 2.0, the companies that spent time on products are seeing big results and serving their customers in a superior way.

For several years, Livesay was explaining to customers how the company’s IoT systems would actually work and the technology that powered them. Now, the customers have faith that companies like Elevat will be able to pull off the futuristic-sounding projects they’re laying out – they simply want to get results.

“The customers don’t even want to talk IoT. What they’re looking to do is, ‘Hey, I need to know the productivity of my fleet of machines,’ or ‘I want to get better at the maintenance of my machines,’ or ‘I have an initiative to sell more parts and services,’” Livesay said. “We talk to them about what their business objectives are, and then the general consensus is the technology companies have figured out how to do this.

“We’re not worried about the technology any more. We were 10 years ago. We’re not any more. We know it’s going to get powered by however you guys are going to do it, but the end result is we want to produce this economic impact for our company.”

Elevat is doing that by improving uptime and increasing productivity, helping companies track devices, make sure vehicles are arriving on schedule and staying well-maintained, and even making sure mixtures are being assembled properly in places like the cement industry.

So what will IoT 3.0 bring?

“The next wave is going to be threaded in to how their entire business operations run. It’s going to be this next major wave. It will just be part of the DNA,” Livesay said. “I don’t even know if it will be called IoT. I think we’ll be fully into a digital transformation at that point, and we’ll just be a feature in that larger ecosystem.”

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