The article concludes by advising enterprises on how to implement IoT into their existing strategies. It suggests an internal process that includes an exploration phase, development of a proof of concept, implementation, and scaling. Each phase is designed to create value and accelerate the various stages of IoT adoption, ultimately leading to increased efficiency and employee satisfaction.
Key takeaways:
- The Internet of Things (IoT) adoption has six distinct stages of maturity: embedded devices, cloud computing, full connectivity, predictive analytics, prescriptive analytics and integrated generative artificial intelligence (GenAI).
- Predictive analytics uses historical data and statistical algorithms to forecast future behavior and improve efficiency, while prescriptive analytics goes a step further to guide decision-making and execution in real time.
- The final stage in the IoT adoption maturity curve is Generative AI, which can create new standard operating procedures on the fly based on real-time data and aggregated history.
- Enterprises should engage in a four-phase internal process to implement IoT into their existing strategies: exploration, proof of concept, implementation, and scaling.