Is your business embracing the Internet of Things?

Internet of Things

Is your business embracing the Internet of Things?

The Internet of Things (IoT) is already impacting our everyday lives, whether you’re aware of it or not.

From smart lighting systems, to self-stocking fridges and intelligent thermostats. IoT is starting to define easy living in the modern home. But what value is it delivering to New Zealand businesses and the wider community?

This topic was explored at the latest PwC Herald Talks events, in Auckland, Wellington and soon to be Christchurch.

Keynote speaker Ulrich Frerk, is founder of Adroit, a Kiwi tech firm which enables everyday appliances to be controlled intelligently through Artificial Intelligence and machine learning.

Ulrich explained that IoT is the name given to the massive rise of connected devices that can communicate with each other via the internet. He sited PwC research which showed the number of internet-connected devices worldwide is predicted to hit 25 billion by 2020, from about 5 billion today.

Joining Ulrich on the PwC Herald Talks expert panel in Wellington was Adrian van Hest, PwC National Cyber Practice Leader. Adrian recognised the enormous potential of IoT, but also spoke of the need for businesses to develop a better understanding of the associated cyber risks, and being in a position to detect issues early and respond effectively when things go wrong.

“For clients who are working in this space, we’re helping them adopt a fundamentally different security model. Because IoT is bleeding edge and there’s not a lot of structure around how you secure connected devices, having a plan is key” said Adrian.

Samantha Ramlu, another panelist, is Co-founder of Method, an innovations agency that helped with the creation of Auckland’s first ‘smart’ precinct at Wynyard Quarter. Samantha spoke about IoT at a community level, explaining it could help enable smart cities by reducing waste and improving energy efficiency.

Also on the expert panel in Auckland was Stephen England-Hall, Tourism New Zealand Chief Executive. He said one of the key benefits of IoT was that it helped businesses better understand their customers, through recognising pain points and better adapting to their needs.

To find out more about PwC Herald Talks visit pwcheraldtalks.co.nz

Watch the PwC Herald Talks IoT hightlights video

Want to know more?