On February 27, 2020 I was honoured to speak at the TEDx Bligh Street event to share my passion for how mass Internet of Things (IoT) solutions can contribute to a better, more efficient and carbon neutral world without negative societal impact. Unknown to all, the world was mere weeks away from being enveloped by the global COVID-19 pandemic. It rapidly created a whole range of unforeseen “new normals” ranging from new business models, a spike in remote working and an insatiable demand for technology to enable efficiency and productivity. Now, six weeks after the TEDx event, as we all adjust to these new normals, I’m even more convinced that mass IoT applications are critical to create a better, more efficient and carbon neutral world.
There is one equation I have dedicated my life to solving: the equation of intrinsic sustainability whilst thoughtfully balancing human, planetary and commercial considerations.
Intrinsic Sustainability derives from a fairly simple analysis: energy consumed by humans over a period closely equals the energy produced by humans for that same period. Since it is a fact that energy comes from only two source types, renewable and non-renewable, it is clear that non-renewable energy will be exhausted at some point because the planet’s resources are finite.
When that happens, we need to have reached the point where 100% of our energy requirements come from renewable sources. That is what I describe as ‘Intrinsic Sustainability’.
Why we need IoT-enabled business efficiencies today
Today, 20 percent of global electricity comes from renewable energy sources. There are many levers to help bridge the 80 percent gap to ‘Intrinsic Sustainability’. Each lever with different degrees of difficulty and societal impact. One lever I am a strong promoter of is the pursuit of more efficiencies in the way we live, and do business, to cut collective energy consumption.
Creating greater efficiencies will significantly influence future intrinsic sustainability. How? Through widespread application and adoption of mass Internet of Things (IoT) solutions. Mass IoT enables businesses to connect their assets, and other things, to the internet and let them do the ‘talking’ so businesses can work smarter and more efficientlyLoic Barancourt, CEO and Co-Founder, Thinxtra
I’m convinced connected assets ‘thinking’ for themselves will create up to as much as 15 per cent additional efficiencies simply by enabling us to work smarter and to make things work harder. Globally, that represents 15 per cent less energy needed.
#Justconnectit: The Internet of Things is ready to deliver real returns
The IoT has taken 20 years and billions of dollars of investment in R&D and new telecom infrastructure to take shape. Today, the IoT is proven to be capable of delivering real business efficiencies.
And because the world is in a race against time to achieve intrinsic sustainability, and implement post COVID-19 recovery strategies, I’m convinced we all have a moral duty to accelerate the harvest of those vital 15 per cent efficiencies.
Leadership teams inherently know that answering two simple questions about their business’ assets can deliver greater business efficiency. These questions are “where are you?” and “how are you feeling?”
Not taking action to answer these questions through IoT solutions is a lost opportunity to improve business performance and, more importantly, it is a crime against the planet.
Mass IoT has the power to make the world a better, more efficient, more carbon neutral place, without negative societal impact.
What we need to do
We all have a role to play to achieve intrinsic sustainability. And we do not have to wait for other businesses or governments to take steps. There has been enough talking, thinking and planning. Now it is time to act.
Taking a zero tolerance stance against inefficiencies, we need to collectively demand smarter business practices in a connected world.
I am privileged to know many courageous leaders, who are committed to making such change inside their organisations, and creating a better future through improving efficiencies. They lead the way in their own industries, going where no-one has been before. This is inspiring and the planet needs more of that.
It is time to launch the ‘#JustConnectit’ movement for like-minded leaders and decision-makers. If this resonates with you, and you want to take action, get in touch and let’s make it happen.
To explore more thinking on the potential of mass IoT to solve global efficiency challenges, watch my recent Sydney TEDx talk.