Intelligent CIO Europe Issue 15 - Page 48

CIO opinion I think this ‘ability to act now’ element of how we interact with IoT data was brilliantly expressed by Chris Mazzei, in his role as EY Global Innovation Technologies Leader and Global Chief Analytics Officer. He said: “There is an acceptance that AI will change everything in 10 years’ time, but little appreciation of how it could and should, impact businesses right now.” Business model shake-up So, as we move forward and more and more devices become connected, we are seeing the same challenges that have been experienced across enterprise IT now appearing in the world of IoT, especially Industrial IoT. This reality is especially prevalent if we look at how we want to manage the functionality of IoT devices. We need to be able to 48 INTELLIGENTCIO understand how devices are performing relative to each other while also providing the requisite level of security for each device. This isn’t about just managing the break-fix elements of the IoT – it is about analysing the data to optimise business processes and drive new business models. There are huge data lakes created by IoT and we know that. As businesses become truly digital, they will discover that they know more clearly what they want to get from the universe of data that is being created, enabling them to more intelligently ask the right questions in the first place. They will know what the desired outcomes are and thus what questions to ask to drive their system of action into decision making, paving the way for a truly ‘consumable’ IoT from end to end. n “ AS BUSINESSES BECOME TRULY DIGITAL, THEY WILL DISCOVER THAT THEY KNOW MORE CLEARLY WHAT THEY WANT TO GET FROM THE UNIVERSE OF DATA THAT IS BEING CREATED.