Executives lack confidence when it comes to Industry 4.0, says Deloitte

Executives lack confidence when it comes to Industry 4.0, says Deloitte

Recruitment and training at every level in the corporate hierarchy may need a rethink, if companies are to reap the full benefits of industrial IoT, says a new report from Deloitte. 

Senior business executives are optimistic about the potential offered by Industry 4.0, but lack confidence when it comes to investing in the industrial IoT. 

That’s according to a new report from Deloitte, The Fourth Industrial Revolution is Here – Are You Ready? Released to coincide with the World Economic Forum this week in Davos, Switzerland, this explores the business world’s readiness to  harness the opportunities offered by the Industry 4.0 trend that sees machines increasingly become connected and able to report on their status and performance, as well as the environment around them.

Sometimes referred to as ‘the fourth industrial revolution’, it is set to define the business world over the next few years, as technologies such as sensors, analytics, AI, cognitive computing are increasingly applied to industrial processes. 

Deloitte Global, part of the management consultancy firm, surveyed 1,600 C-level executives from 19 countries for its report, quizzing them on their ability to leverage these technologies. 

Read more: Survey shows IIoT has “crossed the chasm”, claims Zebra

Lack of confidence

Almost nine out of ten respondents (87 percent) said that they expect Industry 4.0 to create social and economic equality and stability for their companies. But regardless of this, many firms feel that they’re not ready to harness these changes. Only one in three said they’re highly confident about stewarding their organisations in the connected world and just 14 percent said they were ready to implement Industry 4.0 technologies. Because of these attitudes, says Deloitte, businesses and executives risk falling behind.

At the same time, executives don’t feel that their organizations have the right talent to succeed in the fourth industrial revolution, either – but they’re trying their best to build more suitable teams. Again, more than four out five respondents (86 percent) said they’re working to hire people with the right skillsets for technologies such as artificial intelligence (AI) and IoT. 

And companies that are already focused on Industry 4.0 are exploring roles that allow staff to leverage “greater innovation, alternative work environments and new approaches to learning and development”.

Overall, key decision-makers are aware that they must invest in technology to succeed in an increasingly connected world. But many of them are struggling to make a business case due to a lack of comprehensive strategies.

Read more: IIoT adoption increases, but projects still early-stage, says Bsquare

A unique opportunity

Punit Renjen, CEO of Deloitte Global, has claimed that the fourth industrial revolution will have huge impact on the world as a whole, and not just the workplace. “The rapidly advancing technologies driving Industry 4.0 are bringing about social and economic change rapidly in an environment of unparalleled global connectivity and demographic change,” he said. 

“It’s a time of great opportunity, but also risk. We developed this research to better understand how executives are navigating the pervasive shift and to uncover areas where they can more effectively influence how the Fourth Industrial Revolution impacts their organisations and society.”

Our Internet of Manufacturing event is coming to Munich on 6-8 February 2018. Attendees will get the chance to learn more about how connected technologies open up new paths to increased productivity and profitability for industrial companies. 

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Gemalto survey confirms that Consumers lack confidence in IoT device security

Gemalto survey confirms that Consumers lack confidence in IoT device security

Gemalto survey confirms that Consumers lack confidence in IoT device security

Businesses and consumers support government-mandated IoT security regulations.

  • Most organizations (96%) and consumers (90%) believe there is a need for IoT security regulations – and want government involvement
  • A hacker controlling IoT devices is the most common concern for consumers (65%), while six in ten (60%) worry about their data being stolen
  • More than two-thirds (67%) of businesses encrypt all data captured or stored via IoT devices
  • Gemalto, today reveal that 90% of consumers lack confidence in the security of Internet of Things (IoT) devices.

    This comes as more than two-thirds of consumers and almost 80% of organizations support governments getting involved in setting IoT security.

    “It’s clear that both consumers and businesses have serious concerns around IoT security and little confidence that IoT service providers and device manufacturers will be able to protect IoT devices and more importantly the integrity of the data created, stored and transmitted by these devices,” said Jason Hart, CTO, Data Protection at Gemalto.

    “With legislation like GDPR showing that governments are beginning to recognize the threats and long-lasting damage cyber-attacks can have on everyday lives, they now need to step up when it comes to IoT security. Until there is confidence in IoT amongst businesses and consumers, it won’t see mainstream adoption.”

    The current state of play in IoT security

    Consumers’ main fear (cited by two thirds of respondents) is hackers taking control of their device. In fact, this was more of a concern than their data being leaked (60%) and hackers accessing their personal information (54%). Despite more than half (54%) of consumers owning an IoT device (on average two), just 14% believe that they are extremely knowledgeable when it comes to the security of these devices, showing education is needed among both consumers and businesses.

    In terms of the level of investment in security, the survey found that IoT device manufacturers and service providers spend just 11% of their total IoT budget on securing their IoT devices. The study found that these companies do recognize the importance of protecting devices and the data they generate or transfer with 50% of companies adopting a security by design approach. Two-thirds (67%) of organizations report encryption as their main method of securing IoT assets with 62% encrypting the data as soon as it reaches their IoT device, while 59% as it leaves the device. Ninety two percent of companies also see an increase in sales or product usage after implementing IoT security measures.

    Support for IoT security regulations gains traction

    According to the survey, businesses are in favor of regulations to make it clear who is responsible for securing IoT devices and data at each stage of its journey (61%) and the implications of non- compliance (55%). In fact, almost every organization (96%) and consumer (90%) is looking for government-enforced IoT security regulation.

    Lack of end-to-end capabilities leading to partnerships

    Encouragingly, businesses are realizing that they need support in understanding IoT technology and are turning to partners to help, with cloud service providers (52%) and IoT service providers (50%) the favored options. When asked why, the top reason was a lack of expertise and skills (47%), followed by help in facilitating and speeding up their IoT deployment (46%).

    While these partnerships may be benefiting businesses in adopting IoT, organizations admitted they don’t have complete control over the data that IoT products or services collect as it moves from partner to partner, potentially leaving it unprotected.

    “The lack of knowledge among both the business and consumer worlds is quite worrying and it’s leading to gaps in the IoT ecosystem that hackers will exploit,” Hart continues.

    “Within this ecosystem, there are four groups involved – consumers, manufacturers, cloud service providers and third parties – all of which have a responsibility to protect the data. ‘Security by design’ is the most effective approach to mitigate against a breach. Furthermore, IoT devices are a portal to the wider network and failing to protect them is like leaving your door wide open for hackers to walk in. Until both sides increase their knowledge of how to protect themselves and adopt industry standard approaches, IoT will continue to be a treasure trove of opportunity for hackers.”

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    Intel’s big bets on autonomous driving unveiled: “Unwavering confidence” in success

    Intel has opened the doors to its Silicon Valley Innovation Center for Autonomous Driving and, with a slew of partners in tow, gave further insight into its push towards the connected car space.

    Among the announcements was a reveal of one of the first highly automated vehicles developed in partnership with BMW and Mobileye, which Intel acquired for $ 15.3 billion in March, alongside demonstrating with Ericsson. over the air data moving across a 5G network between the car and the cloud.

    The company also opened its Advanced Vehicle Lab, which alongside labs in Arizona, Germany, and Oregon will research the requirements and technologies needed to power self-driving vehicles, from artificial intelligence (AI) to supporting cloud services, while the Autonomous Garage Labs will focus more on the tools and testing side.

    Doug Davis, senior vice president and general manager of the automated driving group at Intel, penned an editorial outlining his passion for the project, saying he postponed his retirement to lead the initiative.

    “The chance to solve one of the most complex technology challenges of our time, the opportunity to help the auto industry reinvent transportation, the potential to save a million lives every year – those things are unlike anything I’ve done before,” he wrote.

    “I have unwavering confidence that Intel will succeed in autonomous driving”, he added. “We have an astounding breadth and depth of experience and the world’s finest technology toolkit to apply to this challenge. We have tapped resources from across the company and have added experienced talent from the automotive industry. Our teams are operating in high gear and will deliver the necessary technology breakthroughs.”

    In July last year, BMW, Intel and Mobileye announced plans to bring self-driving vehicles onto the road by 2021 through a common platform. The companies outlined their strategy to come up with solutions which continually went up the scale of automation, from level 3 (‘eyes off’), to level 4 (‘mind off’) and then eventually to level 5, ‘driver off’, when a human is not required inside the vehicle. Davis added that plans were afoot to bring the platform to market for other OEMs and tier one suppliers.

    Davis also riffed on the importance of AI in autonomous vehicle development. “Mastering AI both inside the car and in the data centre will be essential to the autonomous driving data challenge,” he wrote. “Here it’s important to remember that autonomous driving isn’t a game. When cars are thinking and acting without human intervention, they must be able to do so in a safe and trustworthy way.”

    Plenty of research is taking place, and plenty of data is being collected to gauge what autonomous cars should do in certain situations. The MIT’s ‘moral machine’ program, which gives participants the choice between “the lesser of two evils”, such as killing two passengers or five pedestrians, is an example of this. As Davis noted: “If all we needed was a supercomputer to handle the autonomous driving data challenge, our work would be done.”

    Intel’s acquisition of Mobileye showed how seriously the firm was taking this sector, particularly, as this publication pointed out, the difference in price compared to the $ 8.9bn Samsung is paying for Harman. “The faster we can deliver autonomous driving technology and take humans out of the driver’s seat, the faster we can save lives,” wrote Davis. “It’s that’s simple – and that important…and I am confident Intel will not only succeed in helping our partners put self-driving cars on the roads, we will do so in the fastest, smartest way possible.”

    You can take a look at the full list of announcements here.

    Picture credits: Intel

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    Telensa moves IoT manufacturing to UK after review of world facilities – a vote of confidence as Brexit is triggered

    Telensa is moving its manufacturing of IoT products to the UK from Asia after a ‘strategic review’ of world facilities – offering a vote of confidence on the day the country notifies the EU of its decision to leave the bloc.

    Operations will move to the Sony UK Technology Centre in Pencoed, Wales. Telensa currently has a global footprint of over one million devices across the world, including wireless controls for one in ten of the UK’s street lights. Last year, the company raised over £14 million and the company has grown its revenues by more than 50 percent in each of the last two years, 45 percent of which from exports.

    Secretary of State for Business and Energy Greg Clark, said:

    “Telensa’s strategic decision to transfer manufacturing from Asia back to the UK further strengthens our position as a world leader in innovation and underlines our role as a global technology hub. Its new base at Sony’s Technology Centre in Wales will boost our advanced manufacturing sector, creating the type of new high-skilled, well-paying jobs we are supporting through our Industrial Strategy.”

    “As we prepare to leave the EU, this Government is committed through the Industrial Strategy to ensuring the UK remains one of the best places in the world to do business and this announcement is another significant vote of confidence in the UK economy, sending a clear signal that companies are continuing to invest in Britain’s future.”

    Telensa’s decision to move production to the UK is a testament of local talent and will bring more jobs to the country, in particular to Wales.

    “The fact that Telensa, a global leader in this highly specialised field, has decided to move its manufacturing back to the UK and chose Sony’s Technology Centre in Pencoed is a powerful endorsement of the expertise we have in Wales,” said Welsh Government Economy Secretary, Ken Skates. “It sends out a strong message internationally that Wales is the location of choice for electronics manufacturing. It’s great news for Sony UK TEC, great news for Wales, and I am delighted it will result in new jobs for skilled workers.”

    Sony UK’s technology centre in Wales currently produces thousands of professional camera systems along with manufacturing products for external businesses. One of the most notable devices produced at the centre is the UK’s best-selling computer of all time, the Raspberry Pi.

    The facility in Pencoed has built a reputation for quality and innovation which has attracted Telensa when carrying out their facility review and continues a trend of a significant increase in UK-based manufacturing – now at its highest point since June 2014 according to the Purchasing Managers Index (PDF).

    What are your thoughts on Telensa’s decision? Let us know in the comments.

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