A new survey published by Genpact Research Institute found that 81 percent of enterprise executives believe that the industrial internet of things (IIoT) will be critical to their success. However, only 25 percent of them are deploying IIoT technology today.
Why haven't more companies jumped on board with IIoT? In the survey, 37 percent pointed to data security concerns, 35 percent said insufficient skills of technology staff, 34 percent cited legacy systems, 34 percent worried about data quality, and 33 percent pointed to privacy concerns.
“IIoT has the potential to transform traditional supply chain practices, saving companies valuable resources and time,” said Guy Yehiav, CEO of Profitect, an analytics vendor. “Yet, businesses are cautious to implement IIoT because it’s still relatively new. Since this form of IoT collects various data points it provides even more data, not less. Dealing with the data is what makes it valuable, but it can be a challenge for businesses to fully trust and whether or not anomalies are being picked-up.”