Biggest concerns are security and data privacy, followed by the cost and complexity of IIoT adoption and the need for new management and workforce skills and training. The vast majority of firms are unprepared for the Industrial Internet of Things (IIoT), with fewer than 2% of companies saying they have a clear vision for the technology, even though 52% of executives at large enterprises and 41% of executives at all companies expect a major impact from IIoT on their industry within the next three years, says a new study from the Business Performance Innovation Network. "We are experiencing the lull before the storm of IIoT transformation. We need to be ready when it comes," said John Kelly, CEO of the BPIN in an interview with CIO Journal.
The vast majority of firms are unprepared for the Industrial Internet of Things (IIoT), with fewer than 2% of companies saying they have a clear vision for the technology, even though 52% of executives at large enterprises and 41% of executives at all companies expect a major impact from IIoT on their industry within the next three years, says a new study from the Business Performance Innovation Network. "We are experiencing the lull before the storm of IIoT transformation. We need to be ready when it comes," said John Kelly, CEO of the BPIN in an interview with CIO Journal.