Open Innovation Challenge 2016NGP partners with Nokia again this year in the search for the most innovative companies in IoT Nokia today launched the Open Innovation Challen...
NGP World of Connections
On December 6th, more than 250 leaders from the IoT industry gathered at NGP World of Connections in Palo Alto to dig deeper into the real value of IoT. McKinsey has said that the internet touched 10% of GDP and that the Internet of Things is going to touch the other 90%. Our speakers reinforced that the Internet of Things; is big, is real and is already here.
The agenda of the day covered several sectors that will be transformed by the IoT: transportation, health, energy, networks, home, consumer, utilities and cities. IoT will enliven the physical objects around us unlocking new sources of data, insight and value.
Marcus Weldon who leads Bell Labs summarized the prevailing view nicely: “This is not a normal era, IoT will touch all of us more profoundly than any of the technological advances previously and ultimately, it will generate more time”.
Nokia EVP Bhaskar Gorti reminded us: “We have a bunch of devices connected in M2M use cases. It’s very similar to the situation in the 90’s with the early Internet.“
We are at the precipice of a profound transformation, where the confluence of sensor, cloud and mobile technology will connect people and things impacting almost every human activity on earth.
Some insights shared during the day:
Implications for the entrepreneur
Entrepreneurs can approach the Internet of Things in two ways: as a business enabler or as a disruptor. An enabler is typically a horizontal solution applicable across industries while disruption is typically specific to a market vertical. In some senses, the Internet of Things is a misnomer for whichever approach you chose, it is less about the thing but than the service, data and people you enable. At the end of the day as in any business, it’s more about the people than the technology.