Self-parking cars, drones that can monitor the weather and automated irrigation systems were once the stuff of science fiction but now they are science fact. The fourth industrial revolution – the Internet of Things (IoT) is already upon us, bringing with it a new standard in automation that will change the way we work forever.
Forget steam-punk and the industrial revolution, the IoT is set to have the biggest impact on the world in centuries as digital disruption and technological transformation make way for advances across sectors as diverse as healthcare and agriculture.
Eitan Bienstock founder and CEO of Everything IoT told Kochie’s Business Builders (KBB) it’s time for businesses to ask smart questions. According to Bienstock, a ‘head in the sand’ approach just won’t cut it. The IoT is here to stay. While scaremongers are already touting the figure – ‘two in five jobs at risk’ – Bienstock believes the IoT will bring more benefits than drawbacks.
Still, Bienstock is hesitant to deliver quick-fix solutions for industries impacted by the IoT. He suggests formulating an IoT strategy should be your first step.
Bienstock says the so-called fourth industrial revolution is being driven by four pillars: the cloud, the internet of things, AI and mobile anywhere access. According to Bienstock businesses need to take control of their transformation or be forced into change.
Tech-savvy businesses and entrepreneurs ready to innovate will be the first to benefit from growing automation, but Bienstock insists Australia needs to keep pace or risk falling behind.
“Historically in every industrial revolution we have had loss of jobs. And yes, the IoT will bring a loss of jobs but the challenge is in reskilling people. We don’t need to drive the tractors anymore – we can have automation of so many processes. We need to reskill people in more digital disciplines and also in more human enterprises.”
Bienstock says the arts and humanities will be the real winners of the IoT.
“Jobs that have distinctly human disciplines, that are on the soft side – the human side – that involve empathy and creativity, will rise and we will invent new jobs as we go along,” Bienstock says.
Already Bienstock can cite Australian advances in technology such as AR and VR that have benefited healthcare and the agriculture tech changing the way people farm their land. He suggests Australia could lead the way in this innovation age.
“We have great research and good universities and places like the CSIRO but we always struggle on commercialisation,” Bienstock says. “That is the challenge for Australia…”
This week Bienstock will be bringing leaders from around the globe together for the Everything IoT Summit with an aim to inform and celebrate the coming wave of innovation. The summit will bring together over 600 representatives from industry, government, universities and the entrepreneur community to discuss the challenges and opportunities of the IoT.
He says this year’s summit will have “something in it for everyone”.
“The agenda this year is to bring executives, directors and start–ups together to understand why IoT is good for them and have a strategy moving forward. We need to focus on implementation. We already have case studies of IoT happening now and with this year’s summit, we hope to spotlight the impact IoT innovation can have across industries and businesses. There is a real opportunity to promote change.”
Everything IoT summit takes place in Sydney at Australian Technology Park from October 11-12. Go to everythingiot.com.au for more.