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How the IoT is changing industry

The Internet of Things (IoT), smart services, and platform economics are the topics of a handbook written by authors from business and science. The Trend Report is publishing the work under the public domain Creative Commons license.

13 Dec. 2018

The IoT handbook principally addresses entrepreneurs, presenting business models and their effects on industry and society as well as innovative developments and their application potential. For example, Dr. Welf Wawers from the University of Bonn-Rhein-Sieg writes that 3D printing could make the production of some consumer goods profitable once again in high-wage countries. In his article, Industry 4.0 expert Johann Hofmann explains why digital assistance systems have become indispensable for production.

In his computerwoche.de article, Jan Rodig, CEO of the IoT experts at Tresmo from Augsburg, sums up what requires special attention when it comes to IoT projects. Companies should focus on customer needs and choose their IoT platform with care. In doing so, companies should not only look at the costs, but also design the IT architecture to protect competition-related aspects. Rodig also suggests "taking cybersecurity seriously". Last but not least, according to the expert, new ideas require courage. Investment decisions determined by business cases rarely lead to groundbreaking new business models.