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Looking to deliver IoT value? Don’t go it alone

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By: John Gonsalves

According to Gartner, more than $440 billion will be spent on Internet of Things initiatives by 2020. Yet networking company Cisco recently found that only 26% of organizations so far have completed an IoT initiative they consider a success. That percentage isn’t pretty. And companies don’t have much time to climb a steep learning curve and thus avoid costly failures.

So what is preventing companies from getting IoT right? Much of the challenge derives from focusing on implementing technologies without a comprehensive, holistic plan. Sensors? Smart devices? Data analytics? Cloud-based processing? All necessary and helpful. But how will they operate together? How will they collectively transform data into usable information – delivered in time to act in real time? That takes thought. And the thinking must be in the C-suite.

Related:  How manufacturers can unlock value with IOT analytics

Today’s IoT industry is maturing from stand-alone point applications to integrated systems that capture and process data to derive business insights and even quality of life outcomes. Smart parking solutions, for example, now leverage IoT to analyze parking inventory and guide drivers to available spaces, an outcome with great potential value projected to save hours, miles and even gallons of gas.

A more complex IoT “system of systems,” however, might integrate that parking platform with other IoT-enabled systems, exchanging data that leads to actionable insights. An owner/operator of parking structures could then optimize lighting use in different spaces, control climate for peak and off-peak times and temperatures, assess risks and security needs, respond to staffing shortfalls quickly, and even adjust prices for a particular facility based on volume, previous usage patterns, scheduled local events and consumers’ real-time needs.

An optimal pace to value

Companies have been slow to take their IoT solutions to this next level because they face genuine challenges. How to quantify the potential value to justify the investment? How to stay ahead of security risks? How to understand and leverage multiple complex technologies? Or identify physical installation and support services? Or aggregate, synthesize, store, analyze, act on and monetize their data?

To many, the feasibility of bringing partners and service providers together to create an end-to-end ecosystem is not yet clear. There is the pressure to anticipate integration points and ensure components and people work together. as well as understand and plan for the potential disruptive impact on the organization, customers and business models.

[Download]:  How manufacturers can unlock value with IOT analytics

Nevertheless, developing an integrated IoT constellation of devices, sensors, actuators, gateways and network and cloud service providers, a new breed of IoT platform providers, along with analytics, specialty visualization and integration with enterprise applications – all designed to work together – is the best way to optimize results.

The IoT Value Chain

Components of the IoT value chain should include:

  • Data capture. Data originates from sensors, actuators, controllers, devices and hardware in the field, but companies quickly learn that implementing a transformational IoT solution involves far more than adding sensors to their packaging, products and the machines that manufacture, deliver and service them. Sensors must collect data spatially (i.e., throughout a space) and temporally (i.e., across time), and be instrumented in such a way that vital signs can be signaled, collected and analyzed for downstream action. Such massive amounts of data must be cloud- and network-agnostic to ensure compatibility with various platforms.
  • Data communication and storage. To maximize their value, cloud and network services platforms need to deliver operational insights by working with devices at the edge – that is, where the data is gathered. They must be multilingual (able to talk to any sensors using any communications protocol) and hardware agnostic, so that data can be integrated, synthesized and stored, making it available for future context-aware analysis.
  • Data analysis and insights. Making sense of vast amounts of data and taking action is key to unleashing the power of IoT. Predictive analytics providers identify patterns, network effects or anomalies so undesirable outcomes can be anticipated and prevented. Such analytics prompt prescriptive action: Companies can course-correct on the fly – replacing a part or stopping an engine from overheating, for example – to optimize operational efficiency through improved asset performance and employee productivity. World-class algorithms must be domain-sensitive and industry-aware so they can be meaningfully applied to unique use cases; advanced visualization of data may be required in certain situations.
  • Infrastructure & security. Beyond cloud and network service providers, IoT solutions at scale need end-to-end security from device to edge to the cloud (and the apps), distributed device management and distributed data management.
  • Coordination between IoT components and systems of engagement. Systems of engagement may vary from mobile devices to advanced augmented/virtual reality (AR/VR), mixed-reality or other user interfaces. The focus of IoT solutions is now migrating beyond operations optimization to enable new business models (e.g., pay per use), imagine new products and services (e.g., software-based services), monetize data, etc. Indeed, the opportunities are massive as we develop and benefit from “system of systems.”
  • Partners. The variety and range of technologies for the IoT is enormous, yet still immature. Each participant would do well to understand its role in the IoT ecosystem and get to know adjacent players to partner with to deliver smart, connected IoT solutions at scale. Scale implementations need physical deployment of sensors (and device instrumentation), the operations technology and the digital value chain. And they require a skilled system integrator that also knows the associated IT and heritage systems, to develop and orchestrate the combined ecosystem and, thereby, realize business value.

How to get started

A good systems integrator will start by asking the question, “What business problem do you want to solve?” From there, the company can help to create the business case for an IoT solution by articulating its value, be it cost reduction, revenue enhancement, asset optimization, customer experience transformation or increased safety.

Then it’s on to the heart of the engagement: defining new operational processes, recommending IoT-enabling information and operational technologies, identifying and classifying the right ecosystem players in the IoT value chain, and assembling and integrating them based on who plays best where.

[Download]:  How manufacturers can unlock value with IOT analytics

Challenges certainly remain, but the opportunities for new revenue streams, increased operational efficiency and improved customer engagement have never been greater for companies that leverage end-to-end IoT solutions in consumer, commercial or industrial settings.

This article originally appeared on the Digitally Cognizant Blog

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 Where is Canada with hydrogen?

It’s in the early stages, but it’s happening now, says clean tech expert Bryan Watson.

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Could the words “gas station” disappear any time soon, with the rising number of vehicles running on sources other than fossil fuels?

Whereas electric vehicles are all too familiar, various companies, experts, and think-tanks say the newest fuel on the block will be hydrogen. It’s been the focus lately of new government investment, research, and so far, small-scale adoption. Among its many benefits, hydrogen’s vehicle exhaust is just water. 

Clean tech expert Bryan Watson, Founding Director of OCTIA (Ontario Clean Technology Industry Association), says that hydrogen is the next ‘it’ fuel.

“It’s early, but it is happening now. There are trucking companies, bus companies, dump truck companies, all of these are being… retrofit and they’re sort of the early stages of it, but it’s happening now.”

For example, Canadian Pacific Railway has recently completed a trial run, powering a train with hydrogen fuel in Calgary. Routes in Vancouver, Edmonton, and Calgary, and through the Rockies will follow in coming months. 

And as part of a one-year pilot project two hydrogen buses will take passengers in Edmonton and nearby Strathcona County. Also in Edmonton, a hydrogen fuelling station is under construction for Alberta Motor Transport Association’s testing of semi-trucks on the highways.

The pace of innovation

A big question for the naysayers or cynics might be: What happens if hydrogen advances fast enough to replace the EV market, before that widespread adoption?

“I don’t think it’s an either-or argument,” said Watson. 

Hydrogen and batteries do similar things, he added, “but sometimes the way you’re using the asset makes a difference.” In mining, he explained, it’s better to have the higher energy output that hydrogen can sometimes produce, compared to some batteries. “Or maybe you don’t have the connectivity to the grid to be able to fast charge (electric vehicles) on a mine site. But you do have the ability to get hydrogen there.” 

He added that he has seen schematics for hybrids of hydrogen and battery to manage the different energy needs of a particular type of vehicle. “So we’re still calibrating the market to those technologies,” he said. “We’re literally redefining a whole part of our infrastructure.”

What about government support?

The Canadian government has stepped up to the plate in embracing this innovation, especially in what looks like a direct response to the passage of the Inflation Reduction Act in U.S. Congress last year, that provides incentives for clean energy projects — including hydrogen.

The Trudeau government announced its own plans, as outlined in Finance Minister Chrystia Freeland’s fall economic update. Previously, in 2020, the government released a hydrogen strategy. This 141-page document outlined, among several things, the intent to become a world-leading producer of hydrogen, with the goal of achieving zero-net emissions by 2050.

Watson, who is Vice President of Venbridge, said that there are some tax incentives for corporations to catch up to hydrogen. With the Canadian budget of 2022 came a variety of Clean Energy Incentives and Resource Sector Measures, like the Investment Tax Credit for Carbon Capture, Utilization, and Storage (CCUS Credit, up to 60%) as well as a clean tech tax credit (up to 30%). And in the fall economic statement, he added, the hydrogen production tax credit was announced, rebating 18.5 to 40 percent. As of 2023’s budget, he said it includes the clean technology, manufacturing tax credits, and the clean electricity tax credits. 

EVs vs. hydrogen

In an in-depth look at EVs vs hydrogen, HotCars.com found that hydrogen-powered vehicles have some benefits that EVs do not. For starters, they have a 300-mile range, while EVs have a range of roughly 200 miles. In cold conditions, the EV range decreases, but hydrogen-powered vehicles do not. A car powered by hydrogen could take up to 10 minutes to get completely fueled, while an electric one can take up to 45 minutes, the report also said. 

“I’ve actually seen in some cases with battery electric vehicles… the local grid is not stable enough, or (the charge) would be too much of a draw for that grid… because the grid itself isn’t robust enough in some areas. So having a portable (hydrogen) power source makes sense,” said Watson, who is also Managing Director of CleanTech North.

Another big selling point for hydrogen fuel cells, is that it takes up a small fraction of the space an EV battery might. 

There are already local filling stations for hydrogen-powered vehicles — just a handful so far. The Canadian Hydrogen and Fuel Cell Association says there’s one in the Greater Toronto Area, one in Quebec, three in Vancouver and one in Victoria

The latter two inspired British Columbia courier company, Geazone, to recently order 40 hydrogen-fueled Toyota Mirais. British Columbia’s government has committed $10 million to build more stations. 

Canada, for its part, is already one of the world’s top ten producers of hydrogen, a homegrown market of about $6 billion annually.

Scaling hydrogen production in Canada

Alberta has signaled that they want in on the action, issuing its 2021 Hydrogen Road Map. The province currently produces around 2.4 million tonnes of hydrogen per year, aiming to increase it to three million in the next six years. 

In 2021, Air Products Inc. — touted as the largest hydrogen producer in the world — signed a plan for a $1.3-billion net-zero hydrogen plant in Edmonton whose construction is “well underway” as of April, 2023. 

Nova Scotia, meanwhile, has a few plans in the works to produce more hydrogen fuel. 

Ultimately, all-natural fuels as a substitute for gasoline have been in use for some time. Hydrogen has a big head start, boosts from governments and corporations, and looks to be the answer — at least for now — to wean ourselves off fossil fuels.

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80% of electronic waste in Canada went “uncollected” and “unrecycled” in 2020

According to University of Waterloo researchers, the amount of electronic waste in Canada has more than tripled in the last 20 years.

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When you think of waste management and reduction, you might picture dump trucks of food waste, packaging, and of course — plastic straws. 

But a less discussed type of waste is building up in Canada: electronic waste, or e-waste, meaning electronics that no longer work or are needed. Examples include:

  • Computers
  • Televisions
  • Stereos
  • Fax and copy machines
  • Headphones and radios
  • Electric appliances
  • Other electronic products

The study reminds readers that electronic waste has a large number of hazardous materials in its composition, including: 

  • Mercury
  • Cadmium
  • Lead
  • Arsenic
  • Chlorofluorocarbons (CFCs)
  • Brominated flame retardants (BFRs)
  • Polybrominated diphenyl ethers (PBDEs)
  • Polychlorinated biphenyls (PCBs)

Now, Canada doesn’t show up in the top 10 countries with the biggest e-waste generation. We’re looking at China, the US, and India as the top three. 

Still, a study by researchers at the University of Waterloo found that Canada’s e-waste tripled in the last two decades. 

Canada doesn’t have many up-to-date studies on national e-waste

Released in May 2023, this University of Waterloo study is reasonably named the “first comprehensive estimate of e-waste in Canada.” 

Researchers estimated e-waste figures based on data from import and export statistics, as well as in-use stocks of electrical and electronic equipment from 1971 to 2030. 

E-waste has tripled in the last twenty years in Canada

The study mentions how society has dramatically advanced with digitization and technology, resulting in newer electronic equipment by the year. 

However, this increase resulted in the simultaneous decommissioning of older electronic equipment because they become irrelevant or unusable faster. The result?

“Faster stockpiling of waste electrical and electronic equipment.”

Just how much waste are we talking? The study’s 60-year historical and projected period suggests a total of 29.1 million tonnes of e-waste, with consistent growth each year at 0.5%. 

But how did Canada fare in the years we have solid data for? Researchers note: 

  • 252 kilo tonnes in 2000
  • 954 kilo tonnes in 2020

While businesses account for more significant outputs of e-waste, the study calculated a per-capita e-waste generation of: 

  • 8.3kg in 2000
  • 25.4 kg in 2020
  • Estimated 31.5 kg in 2030

How to move forward with e-waste

The study’s data presents an opportunity for policymakers to better understand: 

  • Life cycle of electronic products
  • Reasonable targets for waste reduction
  • Resource circularity potential for e-waste management

Read the full University of Waterloo study.

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 Leading insurance company Chubb goes all in on AI

A look at how the billion-dollar insurance company plans to embrace AI in all business areas.

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Insurance claims aren’t supposed to take longer than a few weeks to settle — but some can take as long as several months. This is just one business challenge that AI helps insurance companies overcome.

And Chubb, one of the world’s biggest insurance companies, has taken note. 

Founded in 1882, Chubb is a leading insurance company based in Switzerland with offices worldwide — including a new tech services center in Greece. 

CEO Evan Greenberg recently shared a company-wide adoption of artificial intelligence (AI) on a larger scale with investors. 

The company’s newest services center in Thessaloniki, Greece, is expected to spearhead AI initiatives to improve digital transformation, efficiency, and customer experience. The common denominator? AI, specifically automation, machine learning, and cybersecurity modernization. 

So, what can AI do for the average insurance company?

  • Fraud detection: Insurance companies lose over $40 billion per year due to fraudulent claims, a contributor to increased premiums. Machine learning overcomes human limitations when detecting fraudulent indicators. The algorithms continuously improve based on data, which can save insurance companies tons of money. 
  • Risk assessment: Every insurance underwriter uses customer-provided data to assess risk and determine coverage accordingly. But if customers fabricate information, or if underwriters make mistakes, risk could either be over- or under-accounted for. AI helps companies minimize the chance of dishonesty seeping through by catching human-crafted answers versus accurate ones. 
  • Customer service and overall efficiency: Indeed, most people have a negative perception of insurance companies. But quicker claims, risk assessments, policy purchases, and settlements will support better customer experiences in the insurance industry — all thanks to a customer-centric shift powered by AI. Some companies are already using AI-powered chatbots to support customers in finding the most suitable policies for their needs and income. 
  • Labour savings: A double-edged sword, AI development in the insurance field will allow companies to hire fewer underwriters and agents, which saves on labour costs. Still, McKinsey points out that this shift would result in transitioning the agent’s role from handling “busy” work and “data collection” to “process facilitation and product educators.” 

Greenberg attributed AI to improved operations like underwriting, customer experience and service, marketing, and more. The benefits are fuelling the company’s shift to wider-spread adoption. 

Read the full story here

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