At the beginning of the 20th century, Henry Ford found a way to maximize efficiency in factories. The key to success was rationalization, standardization and the introduction of mass production. The industrial model based on these factors functioned effectively for a long time. However, the 21st century brings new challenges for industry. They are:

• Rapid development of the industry

New challenges of the 21st century

In our “fast-paced” times, consumers’ desires and dreams change at lightning speed. As a result, every company must be able to anticipate its customers’ expectations. Also important here are factors we cannot control, e.g. a single inappropriate tweet can lead to a company’s bankruptcy.

• The need to address social responsibility

This concerns both social responsibility issues and legal regulations. Companies most often commit to reducing CO2 emissions and also emphasize the promotion of good practices.

Thanks to the Industrial Internet of Things, optimizing work and process efficiency becomes much easier. The industrial model in the digital era is based on connectivity, mobility, analytics and artificial intelligence. As can be seen, it differs significantly from the concept proposed by Ford.

• Industrial Internet of Things

What is the industrial IoT?

The Industrial Internet of Things offers a wide range of applications - from machines controlling processes and detecting risk, through monitoring the condition of an enterprise to prevent downtime or failures, to artificial intelligence that helps find a balance between energy and operational efficiency.

Tangible benefits of implementation

Using the capabilities of the Industrial Internet of Things results in a reduction in energy consumption by as much as one fifth, as well as a potential increase in employee productivity by as much as one quarter. Moreover, 63% of business and factory owners worldwide are convinced that with the help of the Internet of Things they are able to compete more effectively with others.

Summary

The Industrial Internet of Things is not only a technology, but a strategic response to the challenges of modern industry. It allows companies to anticipate customer expectations, meet environmental standards and build a competitive advantage.

As the data cited in the article show, implementing IoT can bring concrete savings – one fifth lower energy consumption and one quarter higher employee productivity. Importantly, as many as 63% of business owners worldwide believe that thanks to this technology they will compete more effectively in the market.