Daniel Elizalde hosted Soledad Alborno, Jessica Groopman, and Teresa Tung last night at Ericsson D-Fifteen in Santa Clara, CA. The experts and practitioners on Artificial Intelligence and Machine Learning, this all-women (yay!) panel discussed “Unlocking the Value: ML and IoT.” The exchange, as expected, was very informative and thought-provoking. The panel covered a range of topics. Here are the three things that stood out for me.
Three Key Takeaways
1) Business Outcome: Technologists find it easy to dive into the technical specs and the fascinating world of sensors and devices. Have a clearly defined, agreed-upon “business outcome” for the overall success of the IoT initiatives. Calling it a “product mindset,” Teresa articulated that one must have a business problem to solve post the data-collection. Efforts throwing technology without a clear business objective usually do not deliver optimal results.
2) IoT is an Ecosystem Play: Daniel says that customers demand an integrated solution. However, there is inherent complexity in manufacturing, deploying, implementing, collecting, and processing required for a single player. Some have tried, nonetheless, but have not been very successful. Customers need a tighter integration model, and a healthy ecosystem to achieve value. Jessica stated that IoT and other heterogeneous technologies (such as Blockchain) need multiple players to work together for an excellent end-to-end solution. “It takes a village,” she said, to panel’s agreement.
3) Data Security: Sensor integration into everyday products leads to massive data collection. Companies making simple household devices such as garage door openers can suddenly capture and store this data. “Having a Data Strategy from the get-go is critical,” said Soledad. “Collect only the data that you need,” said Jessica, “and stay away from the mentality to collect everything.”
We are observing an increasing number of devices becoming operational. The onus of protecting and inquiring about data lies with the consumers. Type of data captured, its storage location and method, and awareness of people with access to it are some of the questions users should ask.
Thank you, Daniel, and the panel for an excellent exchange.
PS: The D-Fifteen name is a tribute to Ericsson founder Lars-Magnus Ericsson, his wife Hilda, and their partner Carl Johan Andersson, who created the company’s first products in a kitchen workshop at Drottninggatan 15 in Stockholm. Read more.