IIoT allows industry to remain safe and environmentally friendly while remaining profitable.
Global markets have responded to a surge in demand for oil & gas over the past few decades. Driving this demand is an exponential growth of the global population; we are quickly approaching 8 billion people worldwide, and formerly low-income countries are rapidly industrializing and their population is increasing in wealth and energy consumption. As much of the world population expands their use of energy to converge with OECD countries, we are seeing energy demand skyrocket.
IoT technology is beginning to live up to its promise of driving efficiency as well as sustainability.
Not a day goes by, it seems, without a depressing news story emerging about the environment. At the same time, there have been a plethora of stories about technology gone awry in recent years — whether it is the Cambridge Analytica scandal, an autonomous vehicle killing a pedestrian or machine vision systems categorizing minorities as “gorillas.” The past 10 years represents “The Decade Tech Lost Its Way,” according to The New York Times.