IoT World Forum 2017 has just wrapped up and the biggest takeaway was the skills gap. Companies don’t have the expertise to fully implement and benefit from their IoT initiatives.
This was the fourth year of the event, with a theme of “taking IoT to the next level” and “bringing it all together.” The organizers were clear on their mission to help the audience with concrete “how to” sessions.
In a recent study sponsored by Cisco, 62% of respondents reported that the IoT opportunity was real, but that they had barely scratched the surface. The same study also found that only 26% of IoT initiatives were completely successful and 15% failed. That means that the rest are somewhere in the middle, potentially stalled – but with some hope remaining. The same survey asked about the challenges they faced in implementing IoT initiatives; the results are telling. The #1 challenge was lack of expertise, followed by integration complexity – challenges that each exacerbates the other.