Growth for the Industrial Internet
According to a recent report by the global market and business intelligence firm Infiniti Research, we should expect some major growth for the Industrial Internet in the next few years.
In fact, researchers expect the Industrial Internet of Things (IIoT) to grow at a compound annual growth rate (CAGR) of 26.56% over the next four years– taking us into the year 2019.
The report separates the IIoT industry into four end-user segments including manufacturing, energy and utilities, automotive and transportation, and healthcare.
As the report confirms, the growing demand of big data analytics emerges from “interoperability issues among existing systems” while the market driver is the “realization of industrial IoT benefits by businesses and governments.”
Drones and Data in the Digital Oilfield
Rhiannon Meyers of FuelFix, a blog from the Houston Chronicle, paints a picture of what the future oilfield could look like in a recent post.
“A pump collects data about the oil it is hauling to the surface and re-configures its operations to handle the crude more efficiently. A roughneck tripped up by a repair job logs into a mobile device from the rig and downloads a training video. Drones fly out to remote locations to inspect oil field equipment and scour the best places for new well pads,” Meyers wrote.
These days, oil and gas companies are hunting for new, innovative ideas to increase operational efficiency and ultimately, save money. Meyers suggests that despite falling oil prices that may be “battering exploration and production companies, forcing industry-wide cutbacks,” oil and gas professionals are beginning to turn to the tech industry.
Could drones be sent to do the risky parts of the job, such as exploring remote areas for the best drilling spots? That may be unclear, but the need for technology and innovation in the oil and gas industry is evident.
In fact, on Friday, September 18, Gray Matter Systems is hosting an oil and gas executive breakfast discussing how to achieve operational efficiency in the digital oilfield.
Interested in attending the event? Click here to learn more.
WiFi, Hot Tubs & Big Data
Have you noticed how popular the peer-to-peer economy is becoming? The car service, Uber, for example, is a hot topic. Airbnb is another one– the “community marketplace for people to list, discover, and book unique accommodations around the world, online or from a mobile phone or tablet.”
But how do users of the website charge for one? Emily Badger of The Washington Post asked the same question yesterday.
Airbnb, however, an apparent “lover of big data,” wants to offer a more precise guidance to hosts trying to establish a price– which means adding all these questions into an algorithm.
To read more about Airbnb and their plan to incorporate big data into the peer-to-peer community, click here.
This app knows how you feel — from the look on your face
“Our emotions influence every aspect of our lives — how we learn, how we communicate, how we make decisions. Yet they’re absent from our digital lives; the devices and apps we interact with have no way of knowing how we feel. ”
Scientist Rana el Kaliouby aims to change that. She demos a powerful new technology that reads your facial expressions and matches them to corresponding emotions. This “emotion engine” has big implications, she says, and could “change not just how we interact with machines — but with each other.”
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