NEW YORK, Aug. 14, 2014 /PRNewswire/ -- Deloitte today announced it has joined the Industrial Internet Consortium (IIC), an independently-run organization that was founded in 2014 to further the development, adoption and wide-spread use of interconnected machines, intelligent analytics and people at work. Joining the IIC is a sign of Deloitte's continued commitment to helping companies - both enterprise adopters and Internet of Things (IoT) providers - to unlock the value of the Industrial Internet.
"IoT has the potential to offer business value that goes beyond operational cost savings," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "The IoT revolution will play out within and across enterprises, offering opportunities for sustained value creation and even disruption for those who can imagine possibilities beyond the incremental."
Deloitte is uniquely poised to add value to the IIC, representing a diverse set of perspectives from across the IoT ecosystem and within a variety of market sectors, from technology providers to industrial adopters. This experience brings insight into not only how businesses can harness IoT to create innovative products and services, but also how they can use it to transform internal processes for increased efficiencies and reduced costs. As a member of the Deloitte Touche Tohmatsu Limited global organization, Deloitte also offers insight on how best to advance and harness the business value of these technologies across markets, while navigating ecosystem relationships, standards and security hurdles.
"We're pleased to welcome Deloitte as our newest member," said Dr. Richard Soley, executive director of the Industrial Internet Consortium. "With their commitment to the Industrial Internet space and the tremendous value they bring to the marketplace, we look forward to their contributions in IIC Working Committees."
Deloitte's extensive depth within industry verticals and strategic capabilities in digital, analytics, cyber risk services, and its newly launched Greenhouse initiative (designed to help accelerate innovative breakthroughs), are all highly accretive to the mission of the IIC. Together these strategic capabilities offer unique insight into efficient and effective adoption and implementation of unchartered technologies, a goal that is at the core of the IoT movement in modern business.
"As connected devices proliferate and communication networks penetrate across the globe, the potential for IoT solutions and growth in the IoT ecosystem has increased. However, sustained economic value will come from the business model shifts which must take place across numerous industry sectors, from health care to retail to automotive and agriculture, to name a few," added Dave Couture, principal, U.S. technology leader, Deloitte Consulting LLP. "We are excited about helping advance IoT by bringing Deloitte's understanding of the transformative shifts taking place and the underlying operations, technology, security and risks that must be addressed."
Deloitte continues to collaborate closely with numerous business executives across multiple industries, including academia and think tanks such as the MIT Media Lab to advance the future of IoT. Deloitte has also recently launched a paper, The Internet of Things Ecosystem: Unlocking the Business Value of Connected Devices that outlines six strategies that organizations can use to unlock the value of connected devices.
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About Deloitte's Technology, Media & Telecommunications Practice
Deloitte's technology, media and telecommunications practice is composed of more than 1,400 clients in the U.S., including the vast majority of market category leaders across all sector segments. Deloitte practitioners, many with direct industry experience, deliver a breadth of services including professional audit, consulting, enterprise risk management, financial advisory and tax. The practice is also home to the Deloitte Center for the Edge, which conducts original research and develops substantive points of view for new corporate growth. The Silicon Valley-based Center helps senior executives make sense of and profit from emerging opportunities on the edge of business and technology.
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About The Industrial Internet Consortium
The Industrial Internet Consortium is an open membership organization formed to accelerate the development, adoption and wide-spread use of interconnected machines and devices, intelligent analytics, and people at work. Founded by AT&T, Cisco, General Electric, IBM and Intel in March 2014, the IIC catalyzes and coordinates the priorities and enabling technologies of the Industrial Internet. For more information, visit www.iiconsortium.org.