Most organizations should be much further ahead in digitization and automation undertakings but unfortunately are falling into same strategic boobie traps, effectively stalling progress or even worse, turning supposedly cost-saving, efficient exercises into sunk costs. At the same time, new automation concepts, business models are blitzkrieging through technology landscape, overwhelming small-mid sized businesses.
Key to success lies in striking a balance between identifying relevant automation undertakings and executing them with ‘two-steps ahead of the competitor’ mindset.
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IoT initiatives are unavoidably complex. Number of participants (data sources), security and data privacy issues add gravitas to even a bare bone project.
In this brief, we try to uncover device security vendor landscape for various critical touch points which generate most data, identify low maintenance, low cost alternatives to batteries (and identify key vendors) and conclude with the most progressive and secure way (currently in development) to compute and share data. We approach our research from Financial Services Institutions’ perspective but this information model could very well apply to other industries.
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