Industrial internet enables new business models

Opportunities offered by the industrial internet were envisioned at an Industrial Internet partner seminar held on 16 June.

Pekka Lundmark, CEO of Konecranes said that whoever controls the critical information in the value chain, is in the position to succeed.

Gathered to hear about visions for the future were 270 participants. Half of those attending were corporate CEOs and technology and ICT leaders and the rest of the participants were experts of various fields. 

The industrial internet involves the efficient combining of smart devices and systems, the analysis of data systems, and work in business activities. It makes it possible to implement completely new kinds of flexible operating models.  In addition, the boundaries between different branches of industry are blurred.

Input is also needed into education in order to weather the upheaval.

'New kind of employment will emerge in the era of industrial internet. The biggest winners of this metamorphose are those who will actively participate in research and education, said Keijo Nikoskinen, Dean of the School of Electrical Engineering.

Aalto wants to be part of this change. According to Professor Martti Mäntylä  we will witness a great industrial revolution in the next 5-10 years.

The ”Aalto Industrial Internet Campus” project has been launched to respond to these challenges. Aims are to make Otaniemi the Silicon Valley of Finland's industrial internet.

'The aim is to be an interactive area, where students, researchers, and partners can work together, also in international networks.' 

Everything stems from a change in ways of thinking

The phenomenon is closely linked with the present efficiency of data processing, the speed of data networks, and availability of sensor technology.  The effect of these is a significant decline in price levels which, in turn, has helped to speed up the implementation of various applications considerably.

'The industrial internet is also an opportunity for traditional industry. When the price of sensors and data analysing, among other things, reduces, even large companies can benefit so that they are able to achieve massive production leaps,' said Pekka Lundmark, CEO of Konecranes. 

According to Lundmark, the industrial internet is more about a challenge for a change in a way of thinking than about technology.

'Everything that can be digitized will be digitized in the future', he explained.

A mass of information collected by sensors is not useful in itself.  Instead information must be actively analysed and utilised.  In addition, the way that the customer experiences the service will increase in importance.

Programme and presentations
Industrial internet research at Aalto University (aalto.fi)
See the seminar video
(youtube.com)

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The Partner seminar was held for the second time at Aalto University. About 270 people attended the event. Half of the participants were corporate CEOs as well as technology and ICT directors, and the rest were experts from various fields.  The event was organised by the School of Electrical Engineering, the School of Engineering, and the School of Science at Aalto University.

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