What challenges do you see with IoT? Do you think customers understand the benefits of IoT and how they can use it?
Michael Grasley, Callisto
For the customers, there's a baby step there, where they say we can instrument everything and tie it together all around the world, but haven't even done it locally with the plant we've had for years. So there's that intermediate step that they are more comfortable with.
IoT, I would argue, is essentially a technological concept. It is not a solution, what we are trying to achieve is smart manufacturing, Industry 4.0 – that's the vision we're trying to achieve. IoT is just a means to the end. We've been trying to do smart manufacturing for 25 to 30 years. IoT now allows us to do more, but customers may not be ready. That's why I differentiate between IoT and smart manufacturing. I think IoT is another tool in our toolbox.