Industrial Internet Consortium to help accelerate the IIoT

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“The industrial Internet or the Industrial Internet of Things (IIoT), which connects machines, devices and people into functioning, intelligent systems, is expected to increase operational efficiency and productivity, and lower operational costs and waste for businesses in virtually every industry,” says Dr Richard Soley, executive director, Industrial Internet Consortium (IIC). “In fact, the IIoT is expected to have an annual economic impact of up to $6,2 trillion by 2025, according to McKinsey Global Institute.”

Dr Richard Soley.

The IIoT is expected to disrupt industries such as energy, with wind turbine operators being able to predict when a gearbox is about to fail and then schedule maintenance. In healthcare, hospitals can integrate standalone systems, such as ultrasound devices, into the overall hospital system, improving the decision making capabilities of staff and the quality of care. In manufacturing, factories can extract value from a wide variety of data to boost efficiency, reduce downtime and improve product yields.

The Industrial Internet Consortium was formed to accelerate the market adoption of the IIoT by acting as a catalyst and by coordinating the priorities and enabling technologies of the industrial Internet. Founded by AT&T, Cisco, General Electric, IBM and Intel in 2014 and managed by the Object Management Group, the Industrial Internet Consortium is organised into 19 working groups in seven broad areas: Business Strategy and Solution Lifecycle, Legal, Marketing, Membership, Security, Technology and Testbeds.

The Working Groups are comprised of IIC member company representatives from small and large technology innovators, vertical market leaders, researchers, universities and government organisations. The IIC and its members are creating new industry use cases and testbeds for real-world applications, defining a reference architecture and frameworks for interoperability and influencing the global development standards process for the industrial Internet.

The IIoT will dramatically alter manufacturing, energy, agriculture, transportation, healthcare and many other sectors of the global economy. The Industrial Internet Consortium continues to foster the growth of the IIoT by bringing organisations and technologies together and by identifying, assembling and promoting best practices.

For further information on the IIC and membership thereof please visit www.iiconsortium.org or contact info@iiconsortium.org

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Industrial Internet Consortium to help accelerate the IIoT

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