How Industrial IoT & AI is fostering collaboration to deliver ROI

Virtual Conference sponsored by Siemens

Bridging the gap between AI and IIoT is key to the industrial future. Therefore, industrial companies must collaborate to forge vital collaboration and partnerships between Industrial Internet of Things (IIoT) developers and AI experts.

Data-intensive technologies such as VR / AR, AI, machine learning, etc., will require suitable connectivity technologies to provide time-critical, cost-efficient data collection from IoT across manufacturing environments and the supply chain.

According to our HBR pulse survey, 80% to 90% of respondents can’t accurately measure ROIs for their initiatives. (1) Some companies even start initiatives or projects without a proper business case. Unsurprisingly, failure rates of digital transformation initiatives lie in the range of 60% to 85%, according to a Siemens white paper. The good news is that those that measure returns are seeing relatively quick paybacks.

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