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Jargons demystified

IoT (Internet of Things) is referred to connected
network of things – (where things could be objects,
appliances, handsets or even people).

Industry 4.0: Various industrial revolutions have
brought about disruptive trends. Industry 1.0
caused disruption with mechanisation, steam
power & hydro power; Industry 2.0 brought
in electricity, mass production, assembly line
etc; Industry 3.0 was all about automated and
computerised systems; Industry 4.0 is bringing
about disruption through cyber physical systems
connected to the internet and using big data to
bring about greater efficiencies.

The IIoT Bogey Man Development Bank Report, The Institute of Electrical and
Electronics Engineers (IEEE) defines IoT as “a network that
Nothing has confounded human kind more than the new connects uniquely identifiable ‘Things’ to the Internet”.
buzzwords in the industry – Industry 4.0 and Industrial The ‘Things’ have sensing/actuation and potential
Internet of Things (IIoT). There is ‘smartness’ all around us – programmability capabilities. Through the exploitation of
smart grids, smart sensors, smart meters, smart cities and unique identification and sensing, information about the
many more. Indeed the Internet of Things (IoT) has touched ‘Thing’ can be collected and the state of the ‘Thing’ can be
every aspect of our lives, including the industrial sector. changed from anywhere, anytime, by anything.”
IIoT is a reality today. With industrial automation, a large A ‘thing’ or an asset can be made ‘smart’ with sensors and
amount of data is generated from the operational process. actuators that send out data and information. ‘Things’ can
Can the data be made to work to optimise production be connected to the internet or the cloud with its unique
processes, enhance productivity, streamline logistics, predict identity and data it emits. The data can be programed to
events and asset management? Is it all about plugging in IT perform certain tasks with respect to the performance
technologies and taking it to the cloud, and waiting for the of the ‘thing’. In response, the ‘thing’ performs actions as
operational benefits to kick in? Clearly; there is more to this per the algorithm to favourably impact the operation or
than just IT application and process automation. process. In essence, Enterprise IT architecture has moved
to an advanced stage to converge OT with the assistance
We stand on the threshold of Industry 4.0 when increasingly, of sensors and actuators, communication infrastructure,
machines are smart and embedded with artificial artificial intelligence and cloud computing.
intelligence such that industrial assets are capable of
proactively taking decisions based on pre-programed/ Thus, the industrial revolution is now in the 4.0 stage where
predictive events. This is happening due to the convergence cyber physical systems converge to provide collaboration
of technologies in manufacturing/operations, persuasive between machines and humans. An ADB report cites a
network, big data analytics and cloud computing. The huge McKinsey paper stating, ‘The total IoT market size in 2015
transformation arising from the marriage of Operational was $900 billion and is projected to grow to $3.7 trillion in
Technologies (OT) and IT infrastructure is the tipping 2020. It also states that IoT is projected to have a potential
point for industries to adopt IIoT. According to an Asian economic impact of $3.9 to 11.1 trillion per year in 2025.’