12 Jul
2018

3 Lessons from the 2018 McRock IIoT Symposium

A summary of the 2018 McRock IIoT Symposium in Montreal and three take-away lessons on industry 4.0.

Food Manufacturing IIoT
Industry 4.0
IIoT
3 Lessons from the 2018 McRock IIoT Symposium


On June 20, McRock Capital hosted its 2018 IIoT Symposium in Montreal. The annual event brought together leading founders, engineers, investors, CEOs, and partners from BASF Ventures, Cisco Investments, Caterpillar Ventures, GM Ventures, Pitney Bowes, the Toronto Argonauts, and others for a day of exchange on the Industrial Internet of Things. Topics included building the internet of things, global investment trends, market leadership, AI and autonomous systems, and case studies on about the transition to IIoT. 

Here are three take-aways from the symposium. 

1. IIoT: An explosion of connected possibility 


"Devices play are driving the digital economy forward, the Internet of things (IoT) will account for a significant part of this growth. Research firm Business Insider predicts there will be 34 billion devices connected to the internet by 2020, up from 10 billion in 2015." -Shawn Rogers, Senior Director of Analytics Strategy, TIBCO 




 

3 Lessons from the 2018 McRock IIoT Symposium

2. The new economy is a collaborative economy 


IoT guru Maciej Kranz of Cisco describes the new economy as a co-economy—shared and collaborative. The co-economy is inclusive and interconnected and made up of vertical and horizontal partnerships. It features players from other enterprises, regional specialists, start-up companies and employees. Client needs are at the centre.  


 

3 Lessons from the 2018 McRock IIoT Symposium


Infographic source: Maciej Kranz  

 

3. IIoT Recipe for Success: Predictive and Prescriptive


Antonio Pietri, President and CEO of AspenTech says the key inputs for IIoT success are data management, analytics solutions, and domain knowledge and expertise. This cocktail of the predictive and the prescriptive will make for actionable results.      

3 Lessons from the 2018 McRock IIoT Symposium

Infographic source: Aspen Technology

Want to learn more?
Download the ebook
Related blog articles

Related articles

Back to the blog
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
24
Jul 2018

4 Reasons to Monitor Your Downtime

English
16
Apr 2019

How to Avoid Costly IIoT Related Mistakes

English
2
Apr 2019

Smart Factory Strategies to Manage Risk During Industry 4.0 Deployment

English

Related articles

Back to the blog
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
23
Jan 2024

Optimizing Company-wide Operations: Data Analytics in the Manufacturing Industry With Worximity

Explore how Worximity is reshaping manufacturing by harnessing real-time data analytics, bringing efficiency and innovation to Industry 4.0 while empowering departments beyond production management.

English
9
Jan 2024

Manufacturing Trends to Lookout for in 2024

As we look at manufacturing trends for 2024, pressure to stay on top of current trends and maintain competitiveness are at an all-time high

English
21
Dec 2023

Les coûts multiples liés aux problèmes de contrôle de la qualité

Mesurer les rejets et les défauts de qualité est essentiel dans un contexte d’initiatives de production Lean et d'amélioration continue. Découvrez les principaux coûts liés aux rejets de qualité en lisant cet article.

French