Internet of Things

Internet of Things

While cloud computing was rapidly making strides worldwide, companies realised that there were certain applications that needed data to be processed right then and there. These applications were on the edge of the organisation’s network and weren’t always able to be connected to the company’s computing network. This led to the emergence of edge computing, which allowed organisations to capture, process and analyse data at the ‘edge’ of the enterprise’s network. This found use in situations where the data had to be rapidly processed for things to continue functioning, like an oil rig drilling in the middle of the ocean.21 The idea with edge computing was to make data processing capabilities available right where they were needed, especially in critical applications. Over time, this has found takers across sectors like healthcare (to process wearable device information) to autonomous vehicles and smart city projects.

An offshoot of the Internet of Things (IoT) was the emergence of the Industrial Internet of Things (IIoT). It refers to the use of this capability specifically in factory and industrial settings where equipment is enabled with sensors for real-time processing of data. IIoT is a convergence of sensors, internet-connected devices and advanced analytics in industrial operations. The main aim of using IIoT-enabled devices is to boost productivity and efficiency in fields like manufacturing, energy, transportation and healthcare, among others. Used primarily to drive operational efficiencies, IIoT has found application in functions like supply chain optimisation, predictive maintenance and automation. By using data collected by the sensors, the system processes and analyses it immediately to enable real-time decision-making.22

More recently though, there have been rising concerns about the potential for causing harm through internet-enabled devices. Instances of a city’s power grid or utilities network being shut down by cyber criminals have become increasingly common in the last few years. As more and more of the world goes digital, this has emerged as an important area of concern for individuals, enterprises and governments alike. Most of us live our lives online and store anything remotely important in the Cloud. What happens when the service provider is under threat or gets attacked is something many of us have experienced first-hand. What this requires now is greater investments and innovation in security architecture and awareness among users on common traps and how to bypass them.

During the Covid-19 pandemic, once the world started coming out of the lockdown, companies started investing more in IIoT devices for automation and remote monitoring of their assets. The increased investments in this space also generated a lot more data on machine health and usage, which companies have used to further boost efficiency. Another recent use case for technology in manufacturing has been the emergence of digital twins. These are virtual replicas of physical assets that are created to simulate actual operations to help with strategic decision-making. Digital twins are adept at predicting failures and breakdowns and also provide an accurate projection on the likely efficacy of an asset.23