IIoT Top News: Oil and Gas Early Adopters
The Industrial Internet of Things (IIoT) is not just a means for organizations to harvest and analyze vast amounts of data to drive better business decisions. It is driving innovative ways for companies to keep their employees safe and out of harm’s way. In the latest IIoT Top News, we’ll take a look at some trending stories from the oil and gas industry, a quickly growing user of the Industrial Internet of Things to help power data-driven decisions, business operation optimization, and employee safety. The possibility of an industrial wireless oilfield is now not just a pipe dream, but a reality. Wearable Technology and the IoT Improving Safety for Oil and Gas Workers For many folks, wearable technology is viewed as a simple fad of smart watches and health tracking hardware. In the grand scheme of things, we’re just beginning to scratch the surface of wearable tech, with biotechnology, embedded smart tracking hardware, and much more right on the horizon. As noted in this article from the EconoTimes, one of the industries beginning to leverage the power of wearable technology is oil and gas. Looking back at 2014, occupational fatalities nationally were 3 per 100,000 workers. In oil and gas, that number skyrockets to 15. That’s why some organizations in this hazardous industry are turning towards the IIoT and wearable tech to keep their employees safe. From fall risk mitigation, to toxin and fume inhalation prevention and diagnosis, the applications for wearable technology for oil and gas employees in the field are many. One of the current limitations for wearable tech in the field is the ruggedness of the technology, but as new devices are designed that can withstand harsh environments, you can expect to see more adoption of this potentially life-saving tech. The IIoT and Operationalizing Excellence For the oil and gas industry, the advent of the Industrial Internet of Things (sometimes referred to as Industry 4.0) holds massive promise. From reacting to changing global trade conditions in real-time, to instantaneous equipment feedback, there are myriad uses for connected tech. This recent article from IoT Business News cautions us to heed the warnings of the dot.com era and take a strategic approach. The article argues that expecting the IIoT to be a silver bullet for business decisions will only lead to more confusion. It notes that Industry 4.0 is an incredibly powerful tool, one with the ability to fundamentally change the way oil and gas organizations do business, but it is important to go “back to the basics” and understand business needs and objectives before trying to dive into the data. In the Oil Industry, IoT is Booming Oil and gas is not always known for its agility, but when it comes to the Internet of Things, the industry is moving at a decidedly rapid pace. This article from Offshore Engineer asserts that the IoT is not only increasingly becoming part of many organization’s strategies, but is fundamentally becoming embedded in the “oil psyche.” Dave Mackinnon, head of Technology Innovation at Total E&P UK, provides quite a bit of color around this assertion, and he believes that oil and gas is moving towards a “digital supply chain” that was fundamentally revolutionize the sector. Mackinnon also believes that when it comes to the IoT train, it’s either get on, or get left behind. “In an IoT world, many companies will discover that being just a manufacturing company or just an Internet company will no longer be sufficient; they will need to become both – or become subsumed in an ecosystem in which they play a smaller role,” Mackinnon said. Cyberattack Concerns Loom for Oil and Gas While the highest profile cyberattacks have been in the commerce and financial sectors, industrial targets remain at high risk. A recent article from Hydrocarbon Engineering notes that “because of its complex layers of supply chains, processes and industrial controls, makes [the oil and gas industry] a high value target for hackers.” As oil and gas organizations look to leverage the Internet of Things to bring increased value to their companies, it will become more and more important to build extra layers of security into their systems. Enabling the Connected Worker While the IIoT is indeed changing the way oil and gas companies make decisions, it is also changing the way employees perform their jobs. This article from Gas Today notes some of the ways the IoT is changing the roles of workers in the field. From AI planning and scheduling, to predictive maintenance on equipment, the connected worker faces a vastly different workplace landscape than even a few years in the past. Ultimately, oil and gas companies will look to leverage the IoT to help their employees make better decisions, as well as to stay safer and work more efficiently. Final Thoughts The Industrial Internet of Things is growing with rapid adoption across many verticals, but oil and gas is already reaping outstanding benefits from this next phase of industry. Lowering costs, optimizing oil production, and increasing worker safety are just a few of the ways oil and gas is leveraging this technological revolution.
Industry 4.0 Top News Roundup
Industry 4.0, another term being batted around for the Industrial Internet of Things (IIoT) to explain the next-generation of industrial manufacturing and a new data exchange paradigm, is bleeding into multiple industry dialogues to describe the new landscape of how things are being made. With all the hype surrounding the idea of a “smart factory,” it seemed fitting to turn our attention towards highlighting our top news being reported on Industry 4.0. Industry 4.0: the urgency of data standardization By @Antoine_Rizk1 | Published on @ManufacturingGL “Sometimes presented as the new industrial revolution, Industry 4.0, primarily represents an advance in production means and practices. Characterized by interconnected machines and systems, it involves making production and supply chains smarter in order to improve efficiency in resource allocation and increase agility in production processes.” Industrial Analytics Based On Internet Of Things Will Revolutionize Manufacturing By @LouisColumbus | Published on @Forbes “Industrial Analytics (IA) describes the collection, analysis and usage of data generated in industrial operations and throughout the entire product lifecycle, applicable to any company that is manufacturing and selling physical products. It involves traditional methods of data capture and statistical modeling. However, most of its future value will be enabled by advancements in connectivity (IoT) and improved methods for analyzing and interpreting data (Machine Learning).” Drones will transform the way food is grown next year By @Harri8t | Published on @CNBC “Drones are transforming agriculture — giving farmers new tools to supervise crops and check on fields from the air — and 2017 will be be a pivotal year for adoption, say industry experts.” US Manufacturers Too Slow to Adopt Industry 4.0: BCG Study By IW Staff | Published on @IndustryWeek “Nearly 90% of manufacturing leaders surveyed by BCG regarded adopting Industry 4.0 technologies as a way to improve productivity, but only about one in four see opportunities to use these advances to build new revenue streams. Many are pursuing isolated initiatives scattered throughout the company, BCG found in its new report, “Sprinting to Value in Industry 4.0,” without a clear vision and coordination from the top.” Embracing ‘Industry 4.0’ By @alansmurray | Published on @FortuneMagazine “There’s a interesting new report out from BCG this morning on “Industry 4.0” – the German’s preferred term for how big data, cloud computing, sensors, advanced analytics, augmented reality and improved robotics are dramatically changing the world of manufacturing (known in GE-land as the “Industrial Internet”).” As we conclude another round of top news, we hope you were inspired and informed about the latest in Industry 4.0. It’s clear that business digitalization will only continue to add more technology, whether that be IoT, sensors, cloud computing and other solutions. Our job is to be ready and informed about how tomorrow’s technology could help enterprise digital transformation today.
App Development for the Industrial IoT
According to sources, a staggering 5.5 million new devices are connected daily to an increasingly crowded IoT space with an estimated 6.4 billion devices currently “connected.” By 2020, Gartner is predicting as much as 25 billion things will be connected. A lot of the value that both people and companies will derive from these devices heavily depends upon interoperability, which places an emphasis on app development. When we say IoT , the term”things,” generally focuses on a group of devices large or small that can be connected wirelessly by sensors to the internet, each other and or the main base station. Chunka Mui with Forbes believes that, “The Industrial Internet of Things (IoT) is a network of physical objects imbued with information and communications technologies. It brings together many of the key technologies that will make or break every information intensive company.” App development for the Industrial IoT vs. consumer IoT We are use to finding new apps for our phones, smart homes and cars, but what about industrial applications? Contrary to what you might think, Industrial IoT app development surpasses the consumer side when it comes to compensation. In fact the Industrial IoT global market is projected to reach $319 billion dollars by 2020. Unlike their consumer counterparts, Industrial IoT may not come with out-of-the-box, ready to launch applications, and may require various modifications depending on the industry. The focus for Industrial development has been in translating big data in real-time with the use of Sensor-2-Server solutions. More reasons developers should jump on the Industrial IoT app train A few of the top reasons to develop applications for Industrial IoT are as follows: A chance to change your town–by assisting municipalities in becoming smarter cities; allowing you to create your vision–along with 18.5 million professional developers around the globe designing data capture analytics that can be translated in the digital ecosystem; and finally to open up the channel of revenues with the $235 billion dollars annually spent on IoT services. Today, a developer wanting to dive into this untapped market can start by leveraging the developer community sites with Github, Predix, or Intel’s hub to name a few. Jennifer Riggins with Programmable Web reminds us that, “The most important way to prepare yourself for the Industrial Internet of Things is to stay inquisitive.” After understanding the need for these complex industrial applications, the next challenge lies in cultivating best practices to replicate success within industry 4.0. Although the market is primed for the developer picking, it will still take trial and error, as it does with any new technology to fine tune more of an industrial application engine. As more resources (and opportunities) become available to the app development community, scalability is going to be the linchpin for enterprise deployments. Think of the value created if a municipality or energy company, for example, could deploy applications to hundreds of devices that reside at the outermost layer of an IT network.
