The IIoT will change the way business is conducted and they way people do their jobs.

IIoT

The Industrial Internet of Things is complex. There are a lot of moving parts.

With the big structural changes of the IIoT, Cloud, Big Data & Analytics, and Mobile & Social, business models are turning upside-down. Equipment vendors are no longer selling equipment. They're still manufacturing the equipment, but selling services based upon the reliability of their equipment! Their revenue stream is based upon a guaranteed level of reliability.

To make guarantees and base a revenue stream on the reliability of assets, the vendor must be very sure they can monitor their equipment's condition and respond to the needs of the equipment in advance of failure. The IIoT enables the vendor to monitor their equipment remotely, analyze the data generated by its sensors, and respond immediately to the needs of the equipment.

The roles of maintainers will change. So will the roles in IT change as IT and OT (Operational Technology) platforms merge and the nature of monitoring equipment changes. But the management system for Asset Management as specified by ISO 55000 will not change. Check out FORTIG, ISO 55000's digital twin.

To make this shift, you'll need combined business and IT-OT leadership. A position some companies have already created for this purpose is the Chief Digital Officer. The CDO reports to the operations side of the business and is responsible for driving digital transformation and bridging the divide between IT and OT.

It's important to have a formal cross-functional team with the authority and mandate to implement change when driving projects like Smart Connected Assets using the IIoT. Such teams increase the possibility for successful outcomes!