How is the industrial IoT benefiting industry?

Industry 4.0 is here and it means that everything is digitised - or will shortly become so - and that the Industrial Internet of Things (IIOT) is expanding at a pace. A key driver of this transformation is the usage of IPv6 - the latest enabling internet protocol. This allows key systems such as Operational Technologies to be deployed, along with SCADA (Supervisory Control and Data Acquisition) systems for better management, safety, efficiencies and overall enhanced outcomes for business.

The IIoT in industry brings together all networked sensors, connected devices and intelligent devices. Together, this provides a level of connectivity that has never been seen in industrial businesses before. The net result is that traditional linear processes can be replaced by interconnected, dynamic supply chains.

Companies that use these technologies and systems can become:

- more efficient, through less waste

- more profitable, through enhanced productivity and innovation and by reducing costs

- safer, by more effectively managing risks

- greener, by better implementing environmental management systems.

As an example, SCADA systems can automatically detect system or process downtime. If a process has fallen down and work has ceased, it uses sensors to alert staff. This cuts downtime and maximises productivity. More crucially, the same systems help to keep workers safe. For example, take an oil rig. An IIoT system will use its sensors to assess if pressure levels are high and alert engineers to begin emergency protocols. The same applies to railways, with sensors added to train systems to assess wear and tear or failing parts.

Cyberattacks

The security issue is a huge benefit on its own. For example, on an individual level, the theft of credit card details can be stressful and inconvenient, but modern financial security protocols mean that the risk will be picked up quickly, and the card will be frozen. The potential impacts are highly limited. But, if a hacker decides to break into an industrial body, the threats are great indeed. Take the same oil rig example. A hacker could completely cease oil production or affect security protocols. In an engineering business, a hacker could steal sensitive IP and sell it to a competitor. These are just two standalone examples in a sea of risks.

Luckily, businesses across all industries are waking up to the risks that cyberattacks pose to their operations. Software needs to be kept updated, managers need to understand the need for investment and in-house security teams need to be fully resourced. Decision-makers must stay alert and appreciate the risks. Figures show that more than half of SMEs that have experienced a cyber attack have gone out of business entirely afterwards. And look at a large business at the other end of the scale, such as Equifax, whose data breach has cost the firm more than $1.4 billion - with more costs to come.

Companies must be vigilant, systems must be kept updated, employees must be trained and the topic of digital transformation - which will only become more integrated in our lives - must remain at the heart of all business decisions, with the associated question of security constantly considered. Then, all industrial businesses can continue to reap the rewards of the IIoT, and enjoy the full gains.