The Internet is no longer just a global network for people to communicate with one another using computers, but it is also a platform for devices to communicate electronically with the world around them. The result is a world that is alive with information as data flows from one device to another and is shared and reused for a multitude of purposes. Harnessing the potential of all of this data for economic and social good is one of the primary challenges and opportunities. Technologies such as artificial intelligence, augmented and virtual reality and the internet of things are rapidly reshaping our world and evolving at breakneck speed, empowering businesses to take advantage of their transformative impact. Each company capable of exploiting these technologies will have a chance to radically streamline and enhance existing processes, create entirely new business models, and develop innovative products and services.
IoT is transforming a world of things into a world of data. More products are natively built with embedded capability to collect, select, analyze and transfer data becoming in this “smart” way. In the domains where TVH Group offers maintenance and repair related services as material handling, industrial and agricultural equipment the machines are gradually evolving toward smart mobile machines, including AGVs, with cognitive computing systems on the board that can make decisions and solve problems with limited human intervention. IoT enabled data driven predictive maintenance is becoming relevant in all these industries as it can drive efficiency by providing higher levels of safety and quality at a fraction of the current costs. Thanks to Advanced data analytics and IoT devices, predicting potential failures is gradually becoming a real capability.
In order to boost the performance of mobile machines used by TVH customers, we have decided to build a new company called GEMone, running a digital business supported by a technology platform. GEMone is using a subscription-based business model, bundling physical and digital products and offering services in four key domains: Track and Trace, Security and Safety, Operational efficiency and Service and Maintenance.
An IoT and data driven digital business requires much more than technology for example: organization, culture, leadership, talent and skills, and a new business model, but the IoT technology platform supporting the business is one of the major components. There are multiple often overlapping definitions of IoT platforms. I have simplified and applied it to our business case, looking to it as a set of integrated hardware, software and data capabilities which allow the collection, transfer, storage and analytics of data generated by our connected machines.
