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The Lucrative IoT Opportunity for Communications Service Providers Post COVID-19

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Illustration: © IoT For All

As we entered 2020, many Communications Service Providers (CSPs) were optimistic about finally fulfilling the early promise of IoT by harnessing the potential of 5G and Mobile Edge Computing (MEC) to offer a rich source of future growth. Many CSPs understood that to realize this opportunity, they needed to change. Enterprises wanted fuller solutions that would drive their digital transformation faster and that were simple to buy, fast to implement, and simple to consume.

In a recent Analysys Mason study, 59% of enterprise customers would only buy MEC as part of a solution. Solutions require a much fuller set of capabilities that typically come from partners. So, are CSPs successfully managing to offer compelling solutions that accelerate digital transformation for their customers?

The answer: not entirely. Omdia’s quarterly 5G innovation tracker reveals that so far, 32% of enterprises have chosen DIY (to go it alone and build their own 5G solutions), 40% looked to others like systems integrators for solutions, whilst only 21% purchased directly from CSPs. Although it is early days, CSPs must drive this ratio above 50% to make sense of their 5G investments.

The ‘Positive’ Impact of Covid-19

Regardless of Covid-19, the fact that only one in five early enterprise 5G solution deals are CSP-led, proves that the way CSPs want to sell is deeply at odds with the way in which their enterprise and SMB customers want to buy. What’s more concerning is that some of these early large enterprise deals, such as the ones we see in automotive with VW and BMW, cut out CSPs entirely – even for connectivity. Businesses want to buy complete solutions that meet their needs and help them solve business problems, rather than connectivity and separate technology products they need to integrate. This is a multi-billion-dollar opportunity that requires CSPs to collaborate and better understand their customers’ needs, becoming ecosystem-enabled solution providers to satisfy them.

The global pandemic is causing many enterprises to hit the ‘fast-forward’ button on IoT/5G technology solutions. Indeed, 5G investment in China is already recovering because enterprises there recognize the importance of automating processes to guard against a second wave of the pandemic. We expect this trend to unfold globally as Covid-19 makes digitalizing physical assets, automating through industry 4.0, and securing supply chains more relevant than ever.

As Covid-19 resets how enterprises use technology, major verticals including automotive, manufacturing, and logistics will look to rebuild differently. Within this is an opportunity to test the mettle of solutions that harness IoT, 5G, and MEC with AI. In the U.S. for example, 67% of businesses believe that 5G use cases can deliver 11%+ cost reductions over the next three years. Nearly a quarter (23%), believe that 5G use cases could deliver revenue growth of 11% or more. Now is a very good time for CSPs to change their approach to selling 5G and non-5G driven IoT propositions. But are enterprises willing to buy from CSPs?

Enterprise IoT & 5G Market

CSPs are pushing at an ‘open door’: 98% of European, 92% of Asian, and 87% of North American businesses are willing to buy advanced solutions from CSPs. In particular, North American businesses are most positive about the role CSPs will play in 5G, with 96% believing they will do more than provide connectivity. Large North American enterprises say they want to work with CSPs as they can orchestrate ecosystems of partners, manage complex programs, and are perceived to be more flexible than other potential 5G solution providers.

Enterprises, more than CSPs, recognize that building effective IoT solutions is a team sport. They don’t expect one organization to have all of the answers. But they do expect industry players to collaborate to provide solutions to their business challenges. This is where the problem currently sits. Enterprises are looking to buy solutions, CSPs want to sell products – in effect, to organize themselves in a way that best suits how they want to structure their business internally rather than how best to meet customer needs.

Businesses want to find the ‘perfect’ solution to their problem, rather than invent one by integrating multiple products – which is too slow and costly. Instead, they want to buy complete IoT solutions ready to be consumed in a bite-sized way, with no upfront investment and/or risk. It’s not about buying a network slice or MEC product. For businesses, it’s about finding pre-integrated solutions and the best available technologies to quickly drive efficiencies for customers or help them grow revenue as part of their digital transformation. For CSP, it’s about retaining customer relationships and growing revenue.

Even the larger enterprises don’t have the knowledge or capabilities to deal with the integration of new standalone technologies. So, they look to partners that understand their challenges, orchestrate the right ecosystem of technologies and players to deliver solutions that perfectly solve their problems. Covid-19 will only accelerate this trend as it renews pressure to digitally transform faster.

Ecosystems

Historically, CSPs have tended not to work in this way. Now, they really need to. One key step is to adopt a more open and collaborative mindset. This includes taking the lead in setting up and managing ecosystems with third-party partners.

Ecosystems are an effective way for CSPs to plug their knowledge and technology gaps, broaden their portfolio of services and solutions, and importantly encourage fresh ideas and new ways of thinking.

For CSPs to monetize IoT throughout the process of enterprise renewal during Covid-19, it will require having industry-specific solutions underpinned by an enabling technology layer that is massively scalable. Strong partner ecosystems will generate powerful network effects around a digital business platform that provides massive economies, frictionless process execution, and zero-touch operation for customers. These architectures and solutions need to be capable of being converted into technology wrappers and services.

IoT Innovation Requires Collaboration

Solving customer problems requires a broader set of perspectives and the exchange of customer insights and ideas for new products or services, as this rarely happens effectively and sustainably in silo. This is the concept behind an ecosystem-enabled solution provider. They bring together a broader set of capabilities around a digital business platform to prototype and test those new ideas with customers. In these new multi-sided business models, a partner ecosystem is key for generating new ideas, bringing new data sources, driving innovation, expanding offerings, and extending into the white space between old industry verticals and growing revenue.

The pandemic we’re experiencing is hastening change. There isn’t a single entity that hasn’t been affected by it. Our global economy is in a holding pattern and budgets are tightening. This laser focus on how to spend carefully will lead both enterprises and SMBs to accelerate investments in automation, remote business operation, and remote working in the short term. While this is process is in motion without a hard timeline, the CSPs that will prevail will be the ones that harness a powerful ecosystem to provide full solutions to problems and in so doing, build much strong and closer customer relationships.

CSPs are poised as ecosystem-enabled solution providers that can foster growth by combining 5G with technology – if they embrace platform-based business models and orchestrate partner ecosystems to satisfy the needs of their enterprise customers. This requires a change in mindset, experimenting with business models, accelerating innovation, and speed to test and monetize new offerings that are co-created with an ecosystem of partners and underpinned by the right IT platform to support these new ways of working.

Source: https://www.iotforall.com/the-lucrative-iot-opportunity-for-csps-post-covid-19

Cyber Security

2021 Healthcare Cybersecurity Priorities: Experts Weigh In

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The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

Source: https://threatpost.com/2021-healthcare-cybersecurity-priorities/161596/

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Cyber Security

Cybersecurity Predictions for 2021: Robot Overlords No, Connected Car Hacks Yes

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The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

Source: https://threatpost.com/cybersecurity-predictions-2021-robot-overlords-connected-car/161594/

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Blockchain News

IOTA Launches Austria State-Backed Christian Doppler Laboratory for Blockchain Research

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The IOTA Foundation, a non-profit distributed ledger technology-focused foundation has announced that it is joining a new research project, which is expected to run for seven years. The IOTA Foundation is joining the new research laboratory for blockchain technologies for the Internet of Things (IoT) as an industrial partner. 

Webp.net-resizeimage - 2020-11-26T172433.733.jpg

The research lab, the Christian Doppler Laboratory (CDL-BOT), will provide “cutting-edge research on DLT interoperability, the intersection of DLT with the Internet of Things and developer support offerings.” 

The Federal Minister for Digital Economic Affairs in Austria has officially opened the laboratory in a digital ceremony, joined by the co-founder and co-chair of the IOTA Board of Directors, Dominik Schiener. The IOTA Foundation continues to strive for developing open source technologies and infrastructure for trusted IoT.

For the IOTA Foundation, this project would allow more development and research on the IOTA Tangle as well as applications in the Internet of Things. The project would also look beyond the IOTA protocol to further develop the European DLT ecosystem. In an official press release shared with Blockchain.News, IOTA explained:

“This requires novel mechanisms to enable DLT interoperability ranging from cross-blockchain token transfers or atomic swaps to cross-blockchain smart contract invocation and interaction, as well as providing client-side blockchain interoperability through developer support.”

Pantos, a scientific research project aiming to solve the key technical barriers in the crypto and digital asset space, as well as Bitpanda, a leading European neobroker has also joined the research project. Prof. Stefan Schulte, the lead for the new lab said:

“With the rising number of potential application areas for DLT-based payments and data exchange in the Internet of Things, new DLTs have to be integrated, and interoperability between different DLTs becomes necessary. I am looking forward to doing joint research with the IOTA Foundation and Pantos in order to find novel solutions to this highly topical topic.”

The press release also mentioned that postdoctoral and doctoral students would also be employed for the research project, under the supervision of Prof.Stefan Schulte. 

Image source: Shutterstock Source: https://Blockchain.News/news/iota-austrian-state-christian-doppler-laboratory-blockchain-research

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Fintech

inAtlas en el Top Ten de las principales empresas en Location Intelligence

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inAtlas en el Top Ten de las principales empresas en Location Intelligence
  • La revista IndustryWired sitúa a inAtlas entre las diez principales empresas de Inteligencia de Localización con herramientas efectivas para el éxito empresarial

–   inAtlas ha desarrollado Geomarketing, una aplicación eficaz y útil basada en la Location Inteligente que detecta las zonas de mayor rentabilidad y optimiza las acciones de captaciones de nuevos clientes y retenerlos

La Location Intelligence o Inteligencia de Localización se ha convertido en una tecnologia ágil y eficiente que recopila, analiza datos geoespaciales con aplicación práctica en los diferentes sectores económicos y permite lograr el éxito de las empresas.

La revista IndustryWired, conocida por su gran impacto en el sector tecnológico, en su reciente artículo Top 10 Location Intelligence Companies Redefining usiness Success, sitúa a inAtlas, empresa especializada en Location Analytics que ofrece soluciones estratégicas de negocios basadas en la ubicación, en el ranking de las diez mejores empresas de Inteligencia de Localización que utilizan esta metodología para optimizar los éxitos ante los desafíos empresariales al detectar tendencias, adelantarse a sus competidores y tomar decisiones más inteligentes.

 La publicación realiza un análisis acerca de la efectividad de utilizar herramientas de Location Intelligence para conseguir éxito en el desarrollo de estrategias empresariales y toma de decisiones eficaces mediante la integración de datos de ubicación generados a partir de diferentes fuentes como comportamientos del consumidor, factores ambientales, IoT o sistemas GPS entre otros. La aplicación de Geoanalitica online de inAtlas, apunta la revista, ayuda a los clientes a realizar planes de negocios, diseñar campañas de marketing, encontrar nuevos clientes, implementar estrategias de geo-marketing o encontrar lugares ideales para nuevos puntos de venta y franquicias.

Además, recoge los diferentes servicios de la compañía, sus soluciones comerciales sectoriales, servicios de geolocalización, generación de leads, geomarketing, monitoreo de la competencia, análisis predictivo y prescriptivo, mapas de expansión y los modelos de propensión a compra.

 inAtlas, ha desarrollado Geomarketing, una herramienta que relaciona contextos geográficos con datos de los mercados empresariales y sociodemográficos para negocios B2B y B2C. Esta aplicación se fundamenta en la Inteligencia de Localización y ofrece un amplio abanico de soluciones y utilidades, para bancos, empresas de seguros, inmobiliarias, retails, empresas de sector telecom y energía,cadenas de franquicias, redes de negocios, aportando valor añadido, para simplificar el proceso de toma de decisiones de negocios.

Geomarketing, permite sincronizar de forma continua la información interna del negocio, gestionadas por CRM, Softwares de Business Intelligence y ERP con información actualizadas de los mercados de empresas y hogares, oferta inmobiliaria, catastro y bases de datos sectoriales en la totalidad del territorio de España y Portugal.

Gracias a la Inteligencia de LocalizacióninAtlas, detecta cuáles son las zonas de mayor rentabilidad, hecho que permite optimizar las acciones de captaciones de nuevos clientes y retenerlos. “Conocer la monitorización del comportamiento de los clientes, competidores y proveedores de un área elegida, junto con la localización y el comportamiento de una empresa en el mapa aumenta la competitividad de las empresas al ser capaces de actuar con diligencia, anticiparse y encontrar oportunidades de negocio”, asevera Silvia Banchini.

Source: https://www.fintechnews.org/inatlas-en-el-top-ten-de-las-principales-empresas-en-location-intelligence/

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