Reliance Group CEO of IoT Business Juergen Hase provides an insight into the IoT space, its background, driving forces, future, business models and many other facets during Sammantran 2016, the EPGP annual business conclave
24 October, 2016: “The IoT space needs people who are crazy -- people who want to do new things to change the world; people who say yes to innovation,” observed Juergen Hase, CEO - IoT Business, Reliance Group, during ‘Sammantran 2016’, organized by IIM Bangalore’s EPGP (Executive Post Graduate Programme in Management) batch of 2016-17, on October 23 (Sunday), on campus.
The theme of the EPGP annual business conclave was ‘Emerging India - Opportunities & Challenges’, and featured addresses by industry stalwarts and panel discussions among the CXOs/heads of top-notch companies and academia of the country. It had a diverse mix of corporates, policy advocates, academicians and business school students as participants.
This year’s conclave provided an in-depth perspective on India’s economic future by examining opportunities and challenges for the evolving Indian business ecosystem industries in three core areas - Next Generation Operations, Financial Inclusion and Human Capital Management.
Juergen Hase explained a lot about IoT with statistics, examples and business models, elaborating on why the customer should buy it, what benefit it holds for the customer and many other facets. He spoke of his company’s vision. “We have created a UIT unit. It is not hype. We are looking at 50 billion connected devices in the next five years, which implies 27 million devices connecting data points per day. A lot more developers will get involved in the process. IoT has a very wide scope. However, we need to associate IoT with reality. We also need to focus on the wellness effect,” he said.
He offered a word of advice to young managers in the audience. “Keep everything simple. You need focus on key verticals. You cannot change the world in one day.” Offering examples to explain how IoT is turning out to be the next big thing across the world, he said: “In the near future, all international cars coming to the Indian market will be connected cars -- there will be a security element (e-call or emergency call), maintenance (heating, cooling, etc.), fun element (entertainment).”
He offered other examples of IoT capturing the market – logistics, smart homes (like smart meter, etc.), smart cities (parking, public transport, weather information), industrial automation, etc. He pointed out that service and maintenance will be vital. He observed that industrial automation will be big not only in Europe, but also in China and India, because “you have so many manufacturers already”.
Talking about the importance of patrons, he said that, “Never create silos. Select patrons that you can use again and again. Scalability is important. Moreover, we need a blueprint architecture, hence identify core strengths. Segment expertise is necessary.”
Hailing India, he stated, “The power of start-ups in India is phenomenal. Today, India is Number 3 in the world in new start-ups in the IoT space.”
Highlighting the impact of IoT in the job market, he said, “IoT will kill jobs, but new jobs will also be born.”
Listing the driving forces for IoT, he said: “Value creation, real time, innovation, huge high potential market, unlimited application, execution methods…these will be the energy behind IoT. Hence focus, think about business models, make it simple and innovate. You need partnerships, you need change and you need people. The Internet of Things begins and ends with people, nothing else”.
In all these, he cautioned, we need to think about data privacy and data security as well.
The distinguished speakers at Sammantran 2016 included Shekar Viswanathan, Vice Chairman & Director, Toyota Kirloskar Motors; Dr. Jacob Crasta, Chairman CME Group, Co-Chairman ASSOCHAM (Southern Council), Member PM’s SME Council; Santhosh Jayaram, Partner - Sustainability & Climate Change, KPMG; D P Singh, VP and Head HR, IBM India and South Asia; Ajit Mishra, Chief Marketing Officer, Essar Oil; B Venkataramana, Group President - HR, Landmark Group India; Manish Kumar, MD & CEO, National Skill Development Corporation of India; Amrit Pandurangi, Partner, Deloitte Touche Tohmatsu India LLP; Aman Bhargava, Senior Vice President, Capital Float; Udaya Kumar, Managing Director & CEO, Grameen Koota Financial Services Pvt. Ltd; and Sampatkumar Aratti, Vice President, CHRO & CIO, Lapp India Pvt Ltd.
They addressed topics ranging from the role of sustainability and supply chain in India's growth story, human capital and upskilling, role of financial inclusion in sustainable economic growth, knowledge management and consultancy, human capital management, and many more.
Reliance Group CEO of IoT Business Juergen Hase provides an insight into the IoT space, its background, driving forces, future, business models and many other facets during Sammantran 2016, the EPGP annual business conclave
24 October, 2016: “The IoT space needs people who are crazy -- people who want to do new things to change the world; people who say yes to innovation,” observed Juergen Hase, CEO - IoT Business, Reliance Group, during ‘Sammantran 2016’, organized by IIM Bangalore’s EPGP (Executive Post Graduate Programme in Management) batch of 2016-17, on October 23 (Sunday), on campus.
The theme of the EPGP annual business conclave was ‘Emerging India - Opportunities & Challenges’, and featured addresses by industry stalwarts and panel discussions among the CXOs/heads of top-notch companies and academia of the country. It had a diverse mix of corporates, policy advocates, academicians and business school students as participants.
This year’s conclave provided an in-depth perspective on India’s economic future by examining opportunities and challenges for the evolving Indian business ecosystem industries in three core areas - Next Generation Operations, Financial Inclusion and Human Capital Management.
Juergen Hase explained a lot about IoT with statistics, examples and business models, elaborating on why the customer should buy it, what benefit it holds for the customer and many other facets. He spoke of his company’s vision. “We have created a UIT unit. It is not hype. We are looking at 50 billion connected devices in the next five years, which implies 27 million devices connecting data points per day. A lot more developers will get involved in the process. IoT has a very wide scope. However, we need to associate IoT with reality. We also need to focus on the wellness effect,” he said.
He offered a word of advice to young managers in the audience. “Keep everything simple. You need focus on key verticals. You cannot change the world in one day.” Offering examples to explain how IoT is turning out to be the next big thing across the world, he said: “In the near future, all international cars coming to the Indian market will be connected cars -- there will be a security element (e-call or emergency call), maintenance (heating, cooling, etc.), fun element (entertainment).”
He offered other examples of IoT capturing the market – logistics, smart homes (like smart meter, etc.), smart cities (parking, public transport, weather information), industrial automation, etc. He pointed out that service and maintenance will be vital. He observed that industrial automation will be big not only in Europe, but also in China and India, because “you have so many manufacturers already”.
Talking about the importance of patrons, he said that, “Never create silos. Select patrons that you can use again and again. Scalability is important. Moreover, we need a blueprint architecture, hence identify core strengths. Segment expertise is necessary.”
Hailing India, he stated, “The power of start-ups in India is phenomenal. Today, India is Number 3 in the world in new start-ups in the IoT space.”
Highlighting the impact of IoT in the job market, he said, “IoT will kill jobs, but new jobs will also be born.”
Listing the driving forces for IoT, he said: “Value creation, real time, innovation, huge high potential market, unlimited application, execution methods…these will be the energy behind IoT. Hence focus, think about business models, make it simple and innovate. You need partnerships, you need change and you need people. The Internet of Things begins and ends with people, nothing else”.
In all these, he cautioned, we need to think about data privacy and data security as well.
The distinguished speakers at Sammantran 2016 included Shekar Viswanathan, Vice Chairman & Director, Toyota Kirloskar Motors; Dr. Jacob Crasta, Chairman CME Group, Co-Chairman ASSOCHAM (Southern Council), Member PM’s SME Council; Santhosh Jayaram, Partner - Sustainability & Climate Change, KPMG; D P Singh, VP and Head HR, IBM India and South Asia; Ajit Mishra, Chief Marketing Officer, Essar Oil; B Venkataramana, Group President - HR, Landmark Group India; Manish Kumar, MD & CEO, National Skill Development Corporation of India; Amrit Pandurangi, Partner, Deloitte Touche Tohmatsu India LLP; Aman Bhargava, Senior Vice President, Capital Float; Udaya Kumar, Managing Director & CEO, Grameen Koota Financial Services Pvt. Ltd; and Sampatkumar Aratti, Vice President, CHRO & CIO, Lapp India Pvt Ltd.
They addressed topics ranging from the role of sustainability and supply chain in India's growth story, human capital and upskilling, role of financial inclusion in sustainable economic growth, knowledge management and consultancy, human capital management, and many more.