IoT ‘top priority’ for business digital transformations

The IoT is the top priority for business digital transformations [Image: gilaxia via iStock]

The Internet of Things (IoT) has become the leading technology for organisational digital transformation and is the top priority for 92 per cent of companies, according to global research findings published by Inmarsat.

The Inmarsat Research Programme study, which focused on the enterprise application of the IoT, revealed that machine learning (38 per cent), robotics (35 per cent), and 3D printing (31 per cent) were also key requirements for an effective digital transformation for businesses.

According to the report, 97 per cent of respondents said they are currently experiencing, or expect to experience, significant benefits from the deployment of IoT technologies. The top three benefits to be gained from the deployment of IoT solutions are improved service delivery capabilities (47 per cent), better health and safety across the organisation (46 per cent), and greater workforce productivity (45 per cent).

However, the research has also highlighted a number of key challenges that have to be addressed in order to see the full potential. These include security concerns, a lack of skills (particularly in the deployment of IoT) and connectivity.

Almost half of respondents (47 per cent) said they believe that their organisations will need to rethink how they address data security and therefore make heavy investments to meet IoT security requirements.

Some 45 per cent of those taking part in the study said a lack of skills was a particular challenge for their organisation in deploying the IoT, while 29 per cent reported that connectivity issues threaten to derail their IoT deployments before they have even begun.

Paul Gudonis, president of Inmarsat Enterprise, said: “[The] IoT acts as the eyes and ears of organisations and its value comes from how the data it collects is used to improve effectiveness across an organisation. As such, it is unsurprising that so many organisations are deploying IoT to propel their digital transformation initiatives.”

He added that the increasing interconnectivity of devices combined with a heightened cybersecurity landscape and a skills shortage “brings an array of issues”. He explained that collaboration is key to overcoming these challenges.