technology Archives - rinf.tech https://www.rinf.tech/tag/technology/ Tue, 06 Feb 2024 16:40:38 +0000 en-US hourly 1 https://www.rinf.tech/wp-content/uploads/2020/05/favicon-150x150.png technology Archives - rinf.tech https://www.rinf.tech/tag/technology/ 32 32 Building a Circular Future, Brick by Byte https://www.rinf.tech/building-a-circular-future-brick-by-byte/ Mon, 22 Jan 2024 13:46:13 +0000 https://www.rinf.tech/?p=26900 Examining the pivotal role that technology plays in fostering a circular economy.

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Building a Circular Future, Brick by Byte

As we face the harsh truth of our environmental impact, the concept of a circular economy is emerging as a viable solution and a necessary evolution from our current practices. This approach rethinks how we use resources, ensuring that every material is valued and nothing goes to waste.

This is a significant departure from the traditional linear economy, which has resulted in alarming levels of environmental damage. Adopting a circular approach is more than just being sustainable. It’s about building a resilient economy that can handle future challenges. A recent study found that moving to a circular economy could bring $4.5 trillion in economic benefits by 2030. 

In a time when environmental issues are urgent, the idea of a circular economy stands out as a promising alternative to the old “take-make-dispose” model. This outdated approach has pushed us towards resource exhaustion, uncontrollable waste, and a climate crisis that endangers our planet’s health. The circular economy offers a restorative model that aims to minimize waste and reuse resources, creating a sustainable cycle that benefits both the economy and the environment. 

This article explores technology’s crucial role in creating this sustainable, innovative future. 

Contents

Tech as Circular Economy's Catalyst

In the transformative move towards a circular economy, technology plays a crucial role as a catalyst, connecting forward-thinking environmental ideas with practical, real-world uses. 

Digital Product Passports 

The rise of blockchain technology has opened the door for secure, transparent digital product passports. These passports act as an extensive digital record, showing a product’s materials, its entire lifecycle, and who has owned it. This advancement in technology offers numerous benefits. For instance, it improves how easily products can be tracked, making them more straightforward to reuse, repair, and recycle.

A Gartner report suggests blockchain technology in supply chain management could create $3.1 trillion in new business value by 2030. 

Digital product passports are more than just monitoring products. They change how consumers interact and take responsibility. With access to detailed information, consumers can make better choices about what they buy, how they maintain it, and how they dispose of it, leading to more sustainable consumption habits. The European Commission has seen the value of this technology, proposing to include it in the EU’s Circular Economy Action Plan. 

AI-powered Design for Disassembly 

Artificial Intelligence is transforming product design, focusing on ease of disassembly and recovery of components. AI algorithms create modular products made with standardized materials designed for long-term use. This new approach to design is vital for sustainability, ensuring products can be easily broken down and their parts reused or recycled. A study by Accenture indicates that AI’s role in circular economy initiatives could contribute to a $4.5 trillion increase in global economic growth by 2030. 

Beyond just disassembly, AI is essential in prolonging the life of products. AI can suggest design improvements to make products last longer by analyzing how products are used and identifying stress areas. This proactive design strategy reduces waste and enhances economic efficiency by maximizing each product’s lifespan.  

Automated Sorting and Processing 

Traditional sorting methods struggle with the complexity of modern waste, but robotic sorting systems with AI-powered vision are changing this. These systems can accurately identify and separate different materials, making recycling more efficient. 

Using AI and robotics in waste management also has significant environmental benefits. These technologies make sorting more precise and efficient, reducing the need for landfills and incineration and thus decreasing greenhouse gas emissions. The United Nations Environment Programme emphasizes technology’s role in meeting Sustainable Development Goals, especially in responsible consumption and production. 

Remanufacturing and Upcycling Platforms 

The emergence of online platforms for remanufacturing and upcycling demonstrates technology’s role in promoting circular economy efforts. These platforms use AI to connect products with remanufacturing partners, handle transactions, and track products’ circular journeys. Several businesses have started using blockchain technology to increase transparency in their supply chains. In 2019, Ford began experimenting with blockchain tracking solutions to confirm that the cobalt used in its electric vehicles is sourced ethically. 

These platforms also educate about remanufacturing and upcycling, connecting conscious consumers with sustainable practices. They show how technology can make the circular economy a practical reality. The Global Recycling Foundation notes the growing impact of digital platforms in encouraging recycling and upcycling. 

Gamification and Incentives 

Gamification methods like points, badges, and rewards effectively encourage consumers towards circular practices. These interactive techniques make responsible consumption and resource conservation more engaging, setting a new standard in environmental responsibility. Gamification is also used in corporate settings to promote sustainability through employee engagement and rewards. This approach builds a sustainability-focused culture and contributes to broader corporate social responsibility efforts. 

what is circular economy
Circular Economy Conceptualization

Beyond the Obvious: Tech Trends Driving Circular Economy Evolution

The role of technology in fostering a circular economy goes much further than what’s immediately apparent. New technologies are reshaping sustainable practices with innovative and efficient solutions. 

Blockchain-based Marketplaces 

Blockchain is changing how we view sustainable marketplaces. These decentralized platforms provide unmatched transparency and security, making trading recycled materials and sustainably made goods easier. They ensure that every step from production to sale is traceable, giving consumers confidence in the sustainability of their purchases. Gartner predicts that by 2024, 20% of large enterprises will use digital currencies in blockchain-based marketplaces for payments, rewards, or assets. 

AI-driven Repair Guides 

Artificial Intelligence is vital in prolonging product lifespans. AI-powered repair guides offer detailed, customized instructions, making repairs more approachable and promoting a maintenance-over-disposal mindset. The potential of AI-driven repair guides extends into predictive maintenance, fundamentally altering how we manage product lifespans. By analyzing usage data and wear patterns, these intelligent systems can forecast potential failures and suggest preemptive maintenance, effectively preventing breakdowns before they occur. 

3D Printing for Spare Parts 

3D printing is revolutionizing the production of spare parts. It allows manufacturers and consumers to print parts on demand, significantly reducing inventory needs and waste. This technology also supports repairing and refurbishing older products, especially those with parts no longer in production. The versatility of 3D printing in producing spare parts opens up new possibilities for customizing and enhancing existing products. This flexibility helps extend the utility and lifespan of products, aligning perfectly with the principles of a circular economy. 3D printing promotes a more sustainable and efficient manufacturing approach by facilitating the creation of parts tailored to meet unique requirements. It reduces the need for mass-producing spare parts, lowering the environmental impact of overproduction and surplus inventory. 

Supply Chain Transparency Tools 

Tools for supply chain transparency, often powered by blockchain and IoT, are crucial for verifying product authenticity and sustainability. They enable the tracking of materials and products through the supply chain, upholding ethical and environmental standards. These transparency tools are crucial in promoting responsible sourcing and ethical manufacturing practices. By offering a clear view of the supply chain, companies can spot and tackle potential issues related to labor rights, environmental impact, and ethical sourcing. This transparency improves a brand’s reputation and allows consumers to make choices that align with their values.  

IoT for Resource Management 

The Internet of Things is increasingly used for more effective resource management. IoT sensors monitor resource use in real time, producing more efficient material and energy. This is particularly impactful in agriculture and manufacturing. The widespread use of the Internet of Things in resource management is about more than just efficiency; it marks the beginning of a new era in precise and sustainable resource use. By embedding IoT sensors at different points in the production process, businesses can get detailed insights into how materials are used, energy is consumed, and waste is generated. This instant data allows companies to make well-informed decisions, fine-tune their processes, and significantly reduce their environmental impact. 

Circular Economy Model
Circular Economy Model

Building Together: Collaboration and Challenges in Achieving a Circular Economy

Collaborative efforts and complex challenges mark the journey towards a circular economy. An integrated approach is required, bringing together the strengths of different sectors and stakeholders. 

Cross-Sector Collaboration 

The success of a circular economy relies heavily on collaboration across various sectors. This includes partnerships among technology companies, manufacturers, policymakers, and consumers. Each group contributes uniquely: 

  • Technology companies create innovative solutions. 
  • Manufacturers incorporate these technologies. 
  • Policymakers establish supportive regulations. 
  • Consumers drive sustainable product demand. 

 

The World Business Council for Sustainable Development (WBCSD) stresses the importance of collaborative innovation in circularity, suggesting that cross-sector partnerships could speed up the transition by up to 50%. 

Standardization and Regulation 

A significant hurdle in circular economy implementation is more standardization and regulation. Consistent standards are necessary to ensure that materials and products are designed and managed to support circularity. Governments and international bodies play a vital role in setting these standards and regulations. The European Union’s Circular Economy Action Plan is an example, with ambitious waste reduction and recycling goals. 

Infrastructure Development 

Another significant challenge is developing the proper infrastructure, including recycling facilities, remanufacturing centers, and digital platforms for circular goods. These developments require substantial investment and coordination. Developing infrastructure is fundamental to realizing a circular economy. This infrastructure is the backbone for circular activities, enabling material collection, processing, and redistribution. For instance, advanced recycling facilities with modern technologies can significantly enhance material recovery rates. Digital platforms are also vital in this system, offering the necessary connection and transparency for tracking materials and products.  

Data Privacy and Security 

Data privacy and security concerns arise as digital technologies become essential in circular economy strategies. Technologies like IoT, blockchain, and AI involve handling vast data amounts, raising privacy and protection issues. Compliance with regulations like GDPR is critical for companies in this area. KPMG’s survey shows that data privacy is a top concern for 70% of technology leaders adopting new technologies. 

Adapting to Technological Changes 

Adapting to technological changes within the framework of a circular economy goes beyond just keeping up. It’s about adopting a culture of ongoing innovation and adaptability. As new technologies emerge and evolve, they open fresh opportunities for sustainable practices and innovative business models. For businesses, this entails maintaining agility and being receptive to incorporating new technologies into their operations. Such integration can increase efficiency, cost savings, and environmental benefits. 

Policymakers, however, are tasked with devising regulations supporting technological advancements while safeguarding environmental and consumer interests. This dynamic setting calls for a culture of continuous learning and a readiness to experiment and refine approaches. It’s about fostering ecosystems where businesses, academic institutions, and governments can collaborate, exchange ideas, and jointly develop solutions that adhere to the principles of circularity. Successfully navigating these technological shifts is crucial for establishing a resilient and sustainable economy capable of enduring and flourishing amidst future challenges. 

Wrapping Up

The transition to a circular economy, powered by innovative technologies, presents a transformative solution to the pressing environmental challenges of our time. This new economic model, which pivots away from the traditional linear “take-make-dispose” approach, offers a sustainable and efficient system where materials are reused, waste is minimized, and resources are conserved.

The emergence of digital product passports, AI-powered design for disassembly, automated sorting, and advanced manufacturing technologies like 3D printing, are not just innovative developments; they are essential components in building a circular economy. These technologies enable more efficient resource management, enhance product lifespans, and promote sustainable consumption and production patterns. The incorporation of blockchain and IoT in supply chain transparency and resource management further underscores the role of digital innovation in achieving circularity.

However, the shift to a circular economy is not without its challenges. It requires a holistic approach, involving cross-sector collaboration, standardization, and regulatory support. The development of a robust infrastructure, addressing data privacy and security concerns, and adapting to rapid technological changes are crucial steps in this transition. Policymakers, manufacturers, technology companies, and consumers must all play their part in this collaborative effort.

As we look towards the future, it is evident that embracing a circular economy is more than an environmental imperative; it is an economic and social opportunity that holds the potential for significant benefits. By leveraging technological advancements and fostering a culture of sustainability and innovation, we can build a more resilient and prosperous future, ensuring a healthier planet for generations to come.

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]]> 2024 Technology Trends Across Industries and Verticals https://www.rinf.tech/2024-technology-trends-across-industries-and-verticals/ Thu, 07 Dec 2023 12:53:44 +0000 https://www.rinf.tech/?p=26394 Exploring 2024's primary technology trends through the lenses of the world's most vibrant and essential industries.

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2024 Technology Trends Across Industries and Verticals

2023 has been an action-packed year, and there are a lot of technological advancements to be excited about just beyond the horizon. 2024 is likely to be a seminal year for numerous technologies across some of the most important and influential industries worldwide. Enterprises often find themselves confronted with hundreds of technological trends, and knowing which technologies might impact their respective industries can be difficult. This article explores 2024's primary technology trends through the lenses of the world's most vibrant and essential industries.

The industries that we will explore in this article are fintech, retail, supply chain and logistics, healthcare, energy and utilities, semiconductors, manufacturing, and transportation. Each of these sectors is likely to face transformational change due to new technologies. The technologies most likely to facilitate change include artificial intelligence (AI), machine learning (ML), automation capabilities, and embedded systems development. 

According to Gartner, 2024 will witness an 8% increase in global IT expenditure, and more than $5 trillion will be spent on exciting new technologies. It’s important to remember that spending on the wrong technologies or investing in specific technologies at the wrong time can slow down operations and even cause financial ruin. That’s why it’s important to know exactly what technology trends will arise in 2024 and how they might impact your sector.

Contents

A Look Into 2024's Biggest Technology Trends: Top 8 Industries

The following section focuses on technology trends in 8 of the world’s most important sectors.

1. Fintech

We have heard about decentralized finance (DeFi) for years, but 2024 will see it becoming a more widespread phenomenon. Various convening factors will result in centralized institutions like banks becoming an option rather than the norm.

Furthermore, AI and ML will play a significant role in fintech. The ability to process and analyze vast amounts of customer activity and data at sub-second speeds means that financial companies can provide their customers with a more customized range of products and services. There will also be a dramatic increase in embedded finance, where more and more companies integrate banking capabilities into their applications.

Another significant trend in the world of fintech is embedded finance and how it’s expected to revolutionize the way businesses integrate financial services. Embedded finance allows companies to seamlessly incorporate banking services, such as payments, lending, and insurance, directly into their non-financial platforms. This trend is projected to gain considerable traction in 2024, creating a more integrated and user-friendly experience for customers. Businesses across various sectors will be able to offer tailored financial solutions, enhancing customer engagement and unlocking new revenue streams.

2. Retail

Like numerous other industries, ML capabilities will profoundly transform how retail businesses serve their customers. The volume of customer data that’s collected around the clock means that companies will know every intricacy of their customers’ buying behaviors. This means shopping experiences will become highly personalized, especially online. AI and ML capabilities will also help companies position their products in the most lucrative markets.

Another major trend in the retail sector is represented by Large Language Models. Large Language Models (LLMs) have the potential to significantly improve business operations and customer experiences in the retail industry in 2024. These advanced AI models can analyze vast amounts of data to provide insights into customer preferences, enabling retailers to offer highly personalized shopping experiences. LLMs can also be employed for inventory management, trend forecasting, and customer service through intelligent chatbots. Their ability to understand and generate human-like text will revolutionize how retailers interact with customers, offering more engaging and responsive communication. This integration of LLMs in retail will streamline operations and transform how customers shop and interact with brands.

The most significant change that retail will witness in 2024 is the rise in seamless multimodal shopping experiences. For example, a customer can window-shop online, use digital technologies to “try on” a product, find retail outlets nearby, and make a purchase quickly and without complications.

3. Supply Chain and Logistics

Constant supply chain automation is essential to surviving in today’s volatile markets. The most prominent technologies set to influence this sector in 2024 are Electronic Data Interchange (EDI) and Application Programming Interface (API)-driven visibility and transparency tools. Customers expect complete visibility across their supply chain, meaning the entire supply chain lifecycle needs to be accessible with the click of a mouse.

In 2024, advanced analytics and AI are expected to further optimize supply chain and logistics operations. Predictive analytics will enable more precise demand forecasting, reducing inventory costs and improving delivery times. Real-time tracking technologies, coupled with IoT devices, will offer greater transparency and efficiency in logistics operations. These advancements will lead to smarter, more agile supply chains capable of adapting to changing market demands and disruptions, thus ensuring continuous and efficient delivery of goods and services.

4. Healthcare

It’s impossible to talk about technology trends in 2024 without mentioning healthcare. The healthcare industry is always at the forefront of technological innovations but never as much as in current times. Generative AI is increasingly significant in healthcare, especially in backend administrative functions, medical contexts, and customer-facing tools like virtual chatbots and digital assistants. The future potential of generative AI in healthcare contexts will become more pronounced in the coming year.

Digital twins are another exciting technology that will come to fruition soon. Digital twins involve creating a virtual copy of a real-world entity (which can include human bodies as well as hospital infrastructure for training simulations). Other digital innovations will come in the form of VR (Virtual Reality) and AR (Augmented Reality) technologies with diverse use cases ranging from mental health to surgery. Additionally, the quality and usability of 3D models will reach a high level in 2024, meaning that everything from medical instruments to human organs can be custom-created. 

The healthcare industry will also see a significant push towards personalized medicine in 2024, driven by advancements in genomics and AI. Telemedicine, augmented by AI for more accurate diagnostics and treatment recommendations, will become more prevalent. Wearable health devices will provide real-time health monitoring, allowing for proactive management of chronic diseases. These technologies will not only enhance patient care but also streamline healthcare administration, leading to a more efficient healthcare system focused on patient-centric care.

5. Energy and Utilities

The energy and utilities sector’s main technology trends in 2024 include IoT integrations and AI-powered automation. There will be a measurable rise in smart grids and energy-adjacent IoT machinery. This will help optimize performance and provide enterprises with complete real-time visibility into their energy and utilities infrastructure. Vast amounts of data will be collected from these environments so that companies can make informed, data-driven business decisions to optimize their operations.

When we think of a dangerous environment for human workers, we usually think about the energy and utilities sector. Technology can help make these environments a safer place. The introduction of automation can ensure that machines rather than humans can handle repetitive and unsafe tasks. This can improve efficiency and safety and free up workforces to do more human-centric tasks. Other technology trends in energy will include the acceptance of blockchain architectures, the adoption of DeFi services, and the maturing of sustainability initiatives.

The energy sector will also focus on sustainable and smart energy solutions in 2024. AI and IoT will be crucial in optimizing energy usage and managing resources efficiently. Integrating renewable energy sources into the grid, supported by advanced battery storage technologies, will accelerate the transition to cleaner energy. Smart grids, enabled by AI, will facilitate real-time energy management and distribution, ensuring reliability and sustainability in energy supply.

6. Semiconductors

The semiconductor industry will be a prominent recipient of new and advancing technologies in 2024. According to Gartner, the revenue of semiconductors that are made to deploy AI workloads will rise by more than 25% in 2024 and total more than $67 billion. In the next three years, this revenue will likely reach almost $120 billion, making 2024 a crucial juncture in the growth journey of this mammoth industry.

The primary technologies that will benefit the semiconductor industry include AI, ML, and IIoT (Industrial Internet-of-Things) machinery. Parallel advancements in other industries will have significant implications for the semiconductor sector. For instance, the booming automotive, healthcare, manufacturing, and smart agriculture industries will create a massive demand for semiconductors, catalyzing many technological shifts in the next year. 

We will also see continuous innovations, focusing on developing more powerful and energy-efficient chips. With the increasing demand for high-performance computing and AI applications, advancements in semiconductor technology will be critical. Integrating AI in chip design will lead to faster and more efficient production processes. These developments will drive the next wave of technological advancements in various fields, including consumer electronics, automotive, and industrial applications.

7. Manufacturing

2024 will see an increase in smart factories, which is no surprise considering the smart factory market will likely reach a value of more than $140 million by 2027. The technologies associated with smart factories include edge computing, cloud services, AI-powered ML capabilities and analytics, and the rise in IIoT equipment. These technologies will help manufacturing enterprises improve efficiency, increase uptime, optimize costs, leverage their data to its fullest potential, and nurture transparent and seamless factory environments.

Remember that embedded systems development will power this next chapter in the manufacturing story. Embedded development, the secret behind Industry 4.0, involves the seamless amalgamation of software and hardware to serve a particular context – in this case, manufacturing. Embedded systems development can help enhance smart factories, optimize data pipelines, drive sustainability initiatives, and harden cybersecurity posture. Embedded systems development can help organizations edge past competitors and dominate incredibly crowded sectors like manufacturing. 

Another major trend in the manufacturing sector in 2024 will be towards increased automation and intelligent manufacturing. AI and robotics will be extensively used to enhance production efficiency and flexibility. Implementing digital twins – virtual replicas of physical systems – will enable real-time monitoring and predictive maintenance, reducing downtime and improving product quality. These technologies will transform traditional manufacturing processes, leading to more resilient and adaptive manufacturing systems that respond quickly to market changes.

8. Transportation

In 2024, the transportation industry will witness significant fleet automation and management advancements. Integrating AI and IoT technologies in fleet operations will enable more efficient route planning, vehicle maintenance, and fuel management. Automated fleet management systems will reduce operational costs and enhance safety and reliability. These systems will provide real-time data analytics, allowing for swift decision-making and fleet performance optimization. This trend represents a shift towards smarter, more connected, and automated fleet operations, crucial for meeting the increasing demands of modern transportation logistics.

Another trend, Cloud CCTV surveillance in transportation is set to redefine security and monitoring operations. This technology enables remote and real-time monitoring of vehicles and infrastructure, ensuring enhanced safety and security. Cloud-based surveillance systems offer scalable storage, more accessible access to footage, and advanced analytics capabilities. In 2024, these systems will become integral in monitoring traffic patterns, detecting anomalies, and preventing potential security threats. The shift to cloud-based surveillance represents a move towards more proactive and data-driven transportation safety and security management approaches.

Conclusion

As we approach 2024, the technological landscape is on the cusp of transformative change, impacting various key industries. This article has highlighted the pivotal role of technologies like AI, ML, automation, and embedded systems development across sectors such as fintech, retail, supply chain and logistics, healthcare, energy and utilities, semiconductors, and manufacturing.

Each industry is facing its own set of transformative changes. Fintech is evolving with decentralized finance and embedded, retail is becoming more personalized through AI, supply chains are seeking transparency with AI-driven automation, and healthcare is advancing with AI, digital twins, and VR applications. Similarly, energy and utilities are focusing on smarter and sustainable operations, while the semiconductor and manufacturing sectors are preparing for significant growth with advanced technologies.

The key takeaway for 2024 is the strategic and informed application of technology. With an 8% increase in global IT expenditure, the emphasis is on investing wisely. Companies like rinf.tech are crucial in guiding enterprises through this technological evolution, ensuring investments are effective and aligned with long-term goals.

In conclusion, 2024 is set to be a transformative year for technology across industries. Enterprises that embrace these changes with strategic planning and expert partnership will be well-positioned to thrive in this new era of digital transformation. The future holds exciting prospects, and with a thoughtful approach, businesses can harness this wave of technological advancement for growth and success.

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]]> 4 Tech Trends Reshaping Business Landscape In 2023 and Beyond https://www.rinf.tech/4-tech-trends-reshaping-the-future-of-it-and-business-in-2023/ Wed, 18 Jan 2023 15:38:25 +0000 https://www.rinf.tech/?p=21412 This article recaps the findings of the recent McKinsey Report on the 4 tech trends reshaping the future business landscape.

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4 Tech Trends Reshaping Business Landscape In 2023 and Beyond

In 2023, technology will continue to be one of the world's most critical catalysts for change. All the advances in the tech sector allow businesses and other institutions to increase their productivity, revamp their offers, and increase humanity's general well-being.

According to a recent McKinsey report, something significant is happening in the tech world now that would impact how we perceive and use technology in the future. More meaningful trends are emerging and promising more accelerating characteristics in granularity, speed, and scale.

From the rise of the Cloud and 5G to the developments in the metaverse of AR and VR, it’s becoming clear that technology is on the verge of even greater innovation, bringing along new ranges of services and products well within reach. The same report identified and analyzed four major interconnected trends that will shape and define the IT industry shortly.

Contents

Technology trends reshaping the future of business

Innovation at the edge

The acceleration in innovation is bringing forward new technological capabilities, from unlimited computer power and massive data sets to considerable leaps in bandwidth at much lower costs. This trend predicts that this year, more than 70% of companies will employ hybrid or multi-cloud-management technologies, tools, and practices which are essential for a distributed IT infrastructure.

AI algorithms are expected to train machines to recognize, interpret and act on specific patterns. They help computers make sense of real-world data by analyzing images, videos, audio, and text using computer vision, NLP, and speech technology. By 2024, it is estimated that more than 50% of user touches will be augmented by AI-driven speech, written word, or computer-vision algorithms, while a billion connected cameras will be gathering and sharing data.

An IT organization of the future should focus its capabilities on scaling and ensuring that innovation will work for the business. 

We already see enterprise innovation cases in many industries, which are just starting to emerge. For example, one of our customers – an AI technology company – has built a Cognitive Automation Platform that uses deep learning and user feedback to automate security alerts, triage, and management. It allows cybersecurity teams to manage the flow of alerts in an automated way and triage them to identify the most critical ones requiring immediate attention. With the global AI market on a continuous growth path, it is predicted to reach $500 billion by 2024, which makes a reason to have a deeper look at this trend.

IT-as-a-Service

Cloud and edge computing are coming together to support companies in moving their computer power further toward the edge of their networks, enabling them to reach devices with far less latency in a more significant number of locations. The global cloud microservices architecture market is estimated to generate more than $4.2 billion in revenue by 2028. The rising software 2.0 is easing the way of software development by reducing its complexity.

The IT-as-a-service approach positions the product at the project model’s center, ensuring that the organization is committed and shifting its operations around product management. Some companies have been moving in this direction already.

Hanhaa, a global IoT supply chain visibility and cargo tracking company, was feeling the pressure of the industry’s lack of digitization and decided to build and scale a cloud-agnostic CRM solution that quickly became a key market differentiator for them.

When innovation is pushed to the edge, and a perpetual learning culture invades an organization, the role of IT changes drastically. It cannot support this newly formed dynamic culture just by sticking to its traditional roles, and it needs a breeding ground to allow innovation to happen.

Top cloud challenges 2023
Sources: Synergy Research Group, Checkpoint

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Perpetual Learning

By 2025, more than 70% of new applications will use LC/NC technologies, while digital twins are predicted to be developed regularly by 70% of the manufacturers. Moreover, the Industrial Internet of Things (IIoT) will connect more than 50 billion devices by 2025.

According to Peter Diamandis, entrepreneur and futurist, the next decade will bring more progress than in the past 100 years combined. The implications for companies are vast as technology reshapes health, science, energy, transportation, and other industries. It all comes down to the organization’s ability to navigate disruptions, its level of maturity, and its willingness to pursue the latest trends to achieve rapid innovation and improved performance.

To achieve this level of innovation, organizations need to start building a learning culture that makes continuous learning expected and easy to do. The engineers of the future will need to shift to a mindset that welcomes innovation and entrepreneurship and can work effectively with all business functions to move towards a fast-to-market, try-and-fail approach.

This new breed of engineers is expected to possess multidisciplinary tech specialization plus related technical disciplines and a good understanding of business functions and innovation challenges. They are knowns as π-shaped engineers and typically work at the intersection of technology, business, and society and understand the key performance indicators and functions such as sales, marketing, and HR to deliver actual value and drive modern research.

Enterprises will be pressured to acquire the help of relevant talent that can sustain a fast and smooth journey toward innovation.

π-shaped engineering culture
π-shaped Engineering Culture

Expanded trust boundaries

These massive shifts in technology power and capacity are pushing the trust to become an enterprise-wide responsibility. These developments are raising some unease between technology and consumers.

This year, it is estimated that 100% of biometrics-capable devices, such as smartphones, will use biometrics for transactions. These technologies have advanced drastically, and facial recognition algorithms are constantly improving.

Such advancements bring forward the most apparent concern – cybersecurity. It is an ongoing issue that enterprises have already considered. The need to manage and secure trust through an entire ecosystem of technologies adds more pressure across industries.

In the automotive sector, actions are taken to enforce cybersecurity-related activities. The Automotive Open System Architecture already uses existing cryptography mechanisms grouped in what engineers typically call the Crypto stack of the AUTOSAR.

One of our Solution Architects conducted thorough research on the current landscape of the Automotive Cybersecurity, who sets the demands, and a plausible path for future developments.

Check out our Automotive Cybersecurity Study findings in this blog post.

The optimal strategy for supporting cybersecurity in the auto industry would be to partner with technology firms that can handle such challenges.

zero trust security
Source: TechTarget

Conclusion

Technology will change at a rapid pace. It is inevitable. An organization can navigate these changes smoothly if they adopt a mindset focused on innovation, absorb everything that comes with this continuous technological shift, and harness it as a competitive advantage.

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]]> IIoT and the 4th Industrial Revolution https://www.rinf.tech/iiot-and-the-4th-industrial-revolution/ Fri, 03 Jul 2020 11:53:00 +0000 https://www.rinftech.com/?p=6310 The evolution of industrial production. How IoT and Robotics will be the main characters in the story

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IIoT and the 4th industrial revolution ​

Connected devices and sensors, robotics, immersive reality and artificial intelligence are changing the world at an unprecedented speed, bringing a new level of technological sophistication.

Analysts regard the IoT tidal wave as the 4th industrial revolution and for a good reason: after the birth and rise of the internet, IoT looks like the hottest thing for enterprises.

Last year’s predictions showed that in 2020 more than 20 billion devices will be on the IoT and the IoT product and service suppliers will surpass the $320 billion mark in revenue. The presumption is that IIoT will continue to have a big impact on industrial productivity and cost savings in the years to come, a study by Capgemini Digital Transformation Institute showing that more than 60% of the industrial-manufacturing sector is using IoT technology in operations (pdf download) and that number is almost sure to rise in the coming months. So IIoT is on everybody’s lips for a good reason right now. But also for a bad one.

It’s not only the hype of a new El Dorado for enterprises but the fact that the promised potential, in the internal operational sphere, is often going unrealized. “At many organizations, IoT initiatives designed to optimize operations do not achieve their goals or reach meaningful scale” found  the Capgemini study, with “six out of ten organizations failing to take operational IoT initiatives past proof-of-concept stage or beyond implementation at one or two sites.”

The causes for all these are: the security concerns, no clear business case for the investment, a lack of analytical capabilities and uncertainty about IoT standards and protocols.

A few 2020 trends

Reaping the fruits of AI, robotics, and other revolutionary technologies requires means bringing together sensors, connectivity, cloud storage, processing, analytics and machine learning to transform business models and processes. Of course, all these require careful planning and significant effort across key areas of business processes and strategy.

One of the issues that arose in the last years is that the IT infrastructures needed to support the IIoT systems are obsolete. Assuming otherwise puts businesses at risk.

This brings us to the first trend we can identify for 2020 and that is the continuing importance of Edge Computing. With more IIoT devices in service on the factory floor, traditional cloud computing just can’t keep up so working with data at the device level performance is maximized, costs minimized and also the overall latency is improved. 5g speed will make edge computing even more valuable to the industry.

Manufacturing is at the forefront of this technology, as it allows businesses to differentiate their products and services from competitors while establishing new revenue streams. This brings us to the next trend, the Digital Twins. As more factories adopt IIoT, AI and machine learning, a virtual representation of a physical device or object is used to simulate processes and streamline production. The digital twin allows research-and-development teams to gather data to simulate physical objects in real-time situation and today 75% of organizations are taking advantage of IoT by using digital twins or are in the process of deploying it, according to Gartner.

IIoT also needs a robust cloud, which is leading to more reliance on managed cloud services in manufacturing, which can be named as the 3rd trend for 2020. These managed cloud services can be designated for specific device and data management, generating valuable and useful insights about connected products in manufacturing environments. 

AWS, Google Cloud and Microsoft Azure are supporting this trend and IoT data platforms are quickly connecting, too.

Machine learning and AI have been trending upwards in the past couple of years and it’s certain we’ll see a greater connection between AI and IIoT. AI will drive and improve the IoT’s decision-making process by pushing computationally intensive analytics to the edge for scale and performance.

Finally, the 5th trend regards the human resource. While automation will continue to shift plant personnel roles away from dull, repetitive tasks, employees will move on to decision-making roles based on data support.

No need to worry though: machines aren’t replacing humans yet. Instead, there’s a new synergy between human and machines streamlining production and processes.

Human workers need to think differently on the job and that will require an on-going effort to train employees for often high-tech tasks in order to have successful IoT deployments. And that, of course, means investing time, money and energy to ensure that things go smoothly.

Applications and challenges

IoT applications in healthcare, autonomous vehicles and the intelligent enterprise continued to be the hot topics in the past years, industry leaders argue.

We already have success stories of agro-tech companies shifting models and specializing in post-harvest shelf-life and freshness management, improving product margins and profitability, from growers to retailers, all along the supply chain, not to mention reducing food waste, costing only the US $218 billions per year.

The suppliers and retailers are helped to manage the freshness and quality as well as the tracking and the traceability by use of sensor-based technologies.

The healthcare system is an important beneficiary of these new technologies, too; advances in IoT-connected biotechnology will take healthcare to the next level, with around-the-clock monitoring, targeted treatment and even automated doses of medication. Then, in the intelligent enterprise, “the IoT will connect the global supply chain from end-to-end, enabling pervasive visibility, proactive replenishment, and predictive maintenance”, says Mark J. Barrenechea, CEO and CTO at OpenText.

All these will bring us to the point where IoT will become the new standard in decision making around industries and in our everyday life. 

 A successful implementation comes from Harley Davidson, the leading global motorcycle manufacturer. It invested in a fully IoT-enabled plant, connecting key processes and devices in their production process on a single network. The impact was significant: operating costs dropped by $200 million, downtime reduced, and production efficiency went up. The company was also able to reduce its build-to-order cycle by a factor of 36, and grow overall profitability by 3% to 4%. Overall, the company became more operationally efficient and was able to respond to customers’ needs faster. While the IoT can bring these sorts of transformational benefits, many businesses are still grappling with how IoT applications can reach the scale required to maximize ROI.

But beware, because where lies the opportunity also lies the peril. Infrastructure automation specialists warn that the staggering rate that companies are deploying IoT sensors brings vast amounts of data when tracking things in real-time. This ensues that companies need to implement technology that can handle the constant stream of data in addition to looking at more effective ways to analyze that data in order to get actionable insight.

Analysts also believe that IoT will move from still being seen as a massive security risk for an enterprise, to a critical part of its success.

Industry 4.0 revolves around advances in technology. AI, edge computing, virtual testing and IIoT are all important drivers of the new manufacturing plant. Once the security issues that could undermine IoT progress will be dealt with, companies will be on track to take full advantage of this revolutionary technology.

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