Cisco Highlights Internet of Everything Potential in 2014
The Internet of Everything (IoE) is actively taking a role in solving some of the industry’s biggest infrastructure and economic challenges according to a new Cisco report.
Bringing together a panel of industry experts and IoE “watchers”, Cisco presented a combination of visionary thinking and practical applications at the launch of its new report at the CiscoCREATE Internet of Everything innovation centre in Greenwich, UK.
The report, titled “The Internet of Everything: Bringing the Future to Life”, examines the current realisation of the IoE and how this vision will play a key role in fuelling an economic upturn for years to come.
As uptake gathers pace, the IoE will radically transform and shape lives by connecting the unconnected, creating unprecedented value for organisations, individuals, communities, and countries.
From retailers to utility companies, manufacturing firms to healthcare, the IoE represents a huge opportunity for organisations, educators and people across the country. In an era when it's possible for everything to be given an Internet address and connected to the network, 50 billion “things” will be connected globally by 2020, creating $19 trillion worth of value at stake.
Speaking today at the event, Phil Smith, Chief Executive of Cisco UK & Ireland (UKI), said: “The Internet of Everything provides the platform from which an ever-increasing number of connections will ‘wake-up’ the world around us.
“With just one percent of the physical world connected at this time, this is just the beginning of an amazing future. As connections become smarter, faster and more insightful, we will only see more imaginative and ambitious applications of the IoE which will quite literally change the world.
“That is exciting for Cisco because there is no required roadmap, no single path ‑ just a platform that offers abundant opportunity and endless possibilities for everyone.”
From better, more sophisticated ways of selling to and engaging with customers, to increasingly efficient and slick supply chains and manufacturing processes, the Internet of Everything is being brought to life in a number of ways. In the report, Cisco identifies five areas that will see the biggest benefits first: healthcare, retail, transport, energy and especially manufacturing.
Consumers’ relationships with purchases are being transformed as sensors and monitoring devices are built into not only the production process but also products themselves.
“Cradle-to-grave” strategies tracking product lifecycles from the raw materials in the field through to refurbishment and renewal present manufacturers with major opportunities in the face of spiralling costs and dwindling resources.
There is a growing necessity for manufacturers to put the same efficiency into the manufacturing process as they do the sales, and seek to make disposable items the renewables of the future.
“Organisations, in both the public and private sectors, need to take a closer look at their current business models if they want to take advantage of the opportunities generated by the IoE,” said Ian Foddering, Chief Technology Officer, Cisco UKI.
“Three factors are key to tapping into these opportunities effectively. Firstly, an ambition and willingness to be open-minded and realise how the IoE applies to the business context. Second, to hire and invest in the right skills to manage connections, and thirdly to explore what new partnerships will allow new ground to be broken for everyone involved to benefit.”