IoT and other enabling technologies are transforming SMEs’ core business model and offering efficiency gains across all the value chain.

SME producers are innovating solutions and contributing to overall efforts of digital transformation.  IoT and other innovative technologies such as artificial intelligence, 5G, and blockchain have transformed the whole supply chain.

The adoption of IoT technologies allows for more effective data collection capability from the point of view of costs, speed, and scalability. With the
availability of devices having the required computing and communications capabilities, coupled by the availability of new software systems, it is possible to design and implement IoT systems that achieve increased efficiency at lower costs.

Blockchain and DLT can be useful for the IoT and SMEs can innovate their processes with simple solutions that can be immediately integrated into their customers’ production processes, with great economic and sustainability benefits.

Blockchain is a key application candidate for the Industrial IoT because it can be used to track billions of connected devices, enabling the processing and coordination of the transactions that these devices produce. This decentralised approach would eliminate the failure points of traditional networks, facilitating the creation of a more resilient ecosystem on which smart devices can operate.

For more information about how the IoT can benefit your business get in touch with Steve Kennington or Stephen Briney

Call: +44 (0) 23 8017 1244 or
Email: contactus@lumico.io