There’s an even split between Canadian businesses when it comes to their plans for Internet of Things technology, which means half of Canadian businesses could soon have a competitive advantage over the rest.
According to a new study commissioned by Telus, 52 per cent of Canadian businesses are considering, planning, piloting or deploying an Internet of Things solution, while 48 per cent indicated that they have no plans at all to adopt the technology. For those who are not considering IoT, 64 per cent feel that there is no business need.
“By embracing IoT technology, Canadian businesses have a huge opportunity to reap the benefits of digital transformation, yet we’re seeing that some are much further along the adoption curve than others,” said Jim Senko, senior vice-president of Small Business and Emerging Markets at Telus. “From streamlining business processes to creating entirely new business models, IoT solutions have tremendous potential to generate efficiencies, increase cost savings and quite literally, revolutionize how businesses operate. If companies aren’t already looking into the technology, they’re at risk of falling behind those that are.”
The study revealed that the vast majority (86 per cent) of Canadian businesses who have piloted or deployed an IoT solution are seeing its value and 83 per cent are planning or already implementing additional solutions.
“The vast majority of businesses that are piloting IoT solutions are realizing that small changes can have a big impact and that, with the right partner, the technology can be deployed safely and securely,” said Senko. “A business can start with something simple like remotely tracking vehicles or high-value assets and then evolve their IoT strategy and build their business case as they gain experience with the technology.”
The most common solutions currently being piloted or deployed are security (53 per cent) and remote monitoring (47 per cent).