We sat down with TrustPortal’s CRO, Alf Saggese to discuss how HyperAutomation can solve IoT enablement challenges, why it’s a big deal and why you should care.
Tell us more about the IoT opportunity?
IoT promises to transform every industry with billions of “smart” IoT devices including smartwatches, sensors on engines, or monitoring entire factories: all connecting, collecting and sharing data.
IoT can potentially enable new services and ways of working that identify and solve issues before they occur in homes, hospitals, offices, factories: in the field and across the seas.
We’re talking about reducing risks, cutting costs and increasing productivity on a huge scale. It’s why the global IoT market is valued at such a stratospheric figure.
Organisations are putting huge investments and efforts into combining their device data from IoT - with people, processes, and enterprise data. But this isn’t yet delivering benefits: the promise of IoT isn't happening, analysts report that over 70% of projects are failing, with 70% having problems integrating IoT with old IT systems.
The number 1 problem is the ability to immediately understand and react to IoT data insights is often constrained by integration challenges with multiple old systems and processes, or difficulty bringing instant human experience and AI insights into IoT-initiated processes.
For example, deploying IoT sensors enables operations experts to receive lots of important data that can prevent issues. But often the data is not simply understood, the context of the data is not obvious, or what “next best interactions” are available to address the issue. Therefore, it’s too difficult to make quick decisions and turn these decisions into positive actions.
What actions have been taken to solve these issues so far?
Traditional approaches to innovating in these complex environments often include replacing core systems or creating new, bespoke digital services from the ground up, but are hampered by the complexity, cost, time, and staff investment needed.
Address these constraints and there’s a huge opportunity for IoT-enabled, real-time, pre-emptive, and preventative services across all sectors. McKinsey advises that fixing the interoperability challenge will triple the returns from IoT. Fixing this issue is crucial to unlocking the potential of IoT.
How does TrustPortal solve these IoT enablement challenges?
For years, TrustPortal have been assisting global organisations to create real-time digital processes and services that seamlessly and securely work on top of old, complex, IT systems.
So, we’ve created a smarter way to fix the interoperability challenges of IoT enablement with ‘Connected Automation.’ This industry-first Software as a Service provides real-time orchestration of a digital workforce of software robots, AI and people.
The digital workforce delivers the high-speed, data-rich, end-to-end processes in real-time that enable IoT devices to instantly inter-communicate and securely work with physical and digital systems of all ages, sizes and complexities.
Where human experience and AI augmented insights are instantly required within IoT initiated processes, handoffs are made simple via TrustPortal created, intuitive digital user interfaces, in real-time.
We also solve IoT’s the number 2 problem of data security by triple encrypting all end-to end process data down to each user and device, with tamper-proof blockchain to ensure compliance.
The icing on the cake is that Connected Automation requires no coding or integration efforts to augment ways of IoT working across legacy and digital systems. So, results are achieved in weeks, not years: at 10% of the cost of traditional automation and digitisation approaches.
What type of use cases are expected?
Organisations can now offer new IoT services and ways of working that identify and solve issues before they occur across the industrial, consumer, commercial, and healthcare sectors. There are so many possibilities, here’s 3 scenarios:
1. Sensors detect failing heating components, so a new part is instantly ordered, and an SMS is sent to the customer to schedule the replacement.
2. For healthcare monitoring, an IoT device can drive early interventions - prompting a range of outcomes from a friendly call to an immediate ambulance.
3. For equipment monitoring in factories, on-condition predictive maintenance means less maintenance and less factory shutdowns.
Not surprisingly, we’ve already generated 20 opportunities in Telco, Utilities and Health. And that’s just the start. We’re collaborating with AWS and have 30 other global partners.
In fact, we’re the only Connected Automation platform on AWS Marketplace, that allows over 300,000 companies to buy our software-as-a-service with the click of a button. We’ll be making a big announcement about this exclusive capability with AWS very soon.