IoT, big data and blockchain demystified

In this video, Jai Tamhane, managing director of Capacilon, takes the Internet of Manufacturing audience back in time to before even the first industrial revolution, with a hypothetical IoT scenario.

Jai sheds new light on the products and solutions that are available in the market, through the metaphor of a connected horseshoe. He then goes on to illustrate the biases in big data analysis methods, using the analogy of a traffic light.

Murphy’s law helps describe the pain caused by exceptions to any ill-judged ‘one size fits all’ IoT approach, and Jai questions the conventional wisdom of expressing confidence in data analysis with percentages.

On the topic of AI, the Capacilon CEO then explores the concept of “explainable AI”. We are a long way away from achieving the three crucial requirements for AI to reach an “explainable” level, he says.

Jai also discusses the paradoxes of blockchain. Seemingly useful features and developments in this new technology are, in reality, trade-offs that customers need to weigh up.

Moving on, Jai highlights the subtle difference between a success story and true success. He blows the cover off clever marketing techniques that use superficial factors in glorifying projects and highlights the real identifiers that quantify success in a manufacturing environment.

Next, the concept of a ‘solution’ is put under the microscope: value to the customer will always be the primary factor driving the decisions for any investment, he says.

Jai explains Capacilon’s methodology for progressing a partnership with a customer, and describes how the IoT should be a process, instead of a project. He then lays out the essential steps for ensuring that the entire process brings value to the customer.

The video closes with Capacilon’s approach to bringing the full capacity of the customer into an effective formation – giving rise to the company’s name.

This is sponsored content from Internet of Manufacturing platinum sponsor Capacilon, and has not been provided by our independent editorial team.