Chris Herbert will be live blogging at the McRock IIoT Symposium Montreal 2017 event today. Stay tuned! Follow the event hashtag: #IIoTSymp17.

RELATED: Interested in learning firsthand what Angels and VCs, including McRock’s Whitney Rockley, look for in a startup? Download Chris’ 7 Question Series ebook.

Welcome and Opening Remarks

DRAFT/WORK IN PROGRESS: as of 10:52 am

Periscoped!

Updated in progress. As of 10:40 am: Follow the event hashtag: #IIoTSymp17

Keynote: Innovation Titan

DRAFT/WORK IN PROGRESS: as of 10:52 am

  • McRock and their exclusive focus on IIoT  is a first and important for Canada given our focus on resources, utilities and manufacturing
  • Michael recently in Asia speaking with Family Offices about Canada and focus on IIoT and the important role it plays both in Canada and internationally.
  • BDC is focused on entrepreneurs create companies in emerging technologies including: IIoT, Artificial Intelligence/Machine learning especially in resources and utilities.

 

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Keynote: IIoT Titan - The Digital Industrial

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Panel: Corporate Venture Capital - Focused on the IIoT

DRAFT/WORK IN PROGRESS: as of 10:52 am

  • Caterpillar: Money: $100M fund | Likes: Applications that provide customers greater productivity; getting information off of machines via connectivity
  • GE: Initial cheque size is around $5M | Likes: Digitization of any industry and looks at full tech stack and embedded technologies and applications using Predix; applications that drive customer outcomes in value train transformation
  • Cisco: IoT $100M  fund focused on industrial; seed and follow on rounds $2 to $5M
  • Aster Capital: Energy, Mobility, Resources. Cheque $1 to $5M. Does provide seed rounds.
  • BASF: Cheque size $1 to $5M

Follow the event hashtag: #IIoTSymp17

RELATED: Interested in learning firsthand what Angels and VCs, including McRock’s Whitney Rockley, look for in a startup? Download Chris’ 7 Question Series ebook.

Panel: Smart Farming - Growing with Data

DRAFT/WORK IN PROGRESS: as of 10:52 am

  • Fastest growing markets for IIoT adoption: Farming and Cities
    • Farmers want to get more value from data being gathered in order to generate better returns
    • they need to comply with key regulations and prove that they are
    • better utilization of assets (iron) and transparency
    • farmers think tech might attract younger generation to take over the farm
    • Equipment resellers, like Titan Machinery, are partnering with technology companies to evolve their business models in order to deliver more value to farmers and not be disrupted
  • Keys to good partnerships
    • Titan interested in delivering more value and not being disrupted. Keen to work with a company that understood farming. Remi, CEO of Decisive Farming is a farmer and has credible domain expertise in farming and technology. Ray, Titan’s VP of Strategy Implication is a farmer as well. Remi and Ray speak the same language. Both companies need each other to grow and evolve to meet the needs of their mutual customers.
    • Good chemistry matters!
    • If you can make things happen for your partner faster than if they can do it themselves your chances are better.
  • Key issues
    • Lack of talent in tech and in farming. This stressed the importance of partnerships. Titan has market reach, access to large customer base and customer facing employees in sales and support. Decisive farming leverages this strength. Titan leverages Decisive Farming’s technical expertise.
    • Farmers want to own and control their data and concerned about it being in the cloud and who else accesses and uses it.
    • IP ownership is a challenge and security.

Follow the event hashtag: #IIoTSymp17

Stay tuned! Follow the event hashtag: #IIoTSymp17

Keynote: The Connected & Intelligent City

DRAFT/WORK IN PROGRESS: as of 11:20 am

  • Details about Innocite, Montreal and virtual VC fund.
  • Dr. Rick Huijbregts, Cisco Canada
    • Smart Cities is not about technology it’s about what citizens will be doing in our cities in the not too distant future
    • Five key realities Municipalities need to embrace:
      • Mobile & Apps – 90% of internet traffic is mobile based. Cities must be mobile centric.
      • Video: 70% of internet traffic is video. Cities must embrace video.
      • Internet of Things: “the train has left the station”
      • Cloud and Edge: architecture a key factor
      • Data Analytics: getting value from your digital strategy and data.
    • Emerging technologies (get later)
    • Digital Business is Creating the Digital Economy (picture coming)
    • Digital Transformation is for Everyone (picture coming)
      • Ellis Don, Digital Building
      • Barrick, Autonomous Mine using Joy Sticks thousands of miles away
      • London Hydro, Smart Grid goes beyond “smart meters”. Evolving from selling power to selling data… doing both.
      • TD Bank, Customer Experience.
    • By 2020, 75% of organizastions will be digital or will be preparing to become digital.
    • Municipalities need to focus on evolving via these phases:
      • Enable: Productivity, Cost Reduction, Faster Response times
      • Differentiate: New experiences, process innovation, distributed intelligence
      • Define: industry transformation, constant innovation, new growth
    • With focus on:
      • Citizen Experience
      • Workforce Productivity
      • Economic Growth
      • Business Process
      • Security + Green

 

 

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Panel: The Growth of Smart Cities

DRAFT/WORK IN PROGRESS: as of 11:55 am

  • There is no one company that can create the “smart city”. It’s a system of systems of technologies, partners.
  • Cities see three main challenges: 1) Improve communications within the municipalities departments; 2) Maintain control of their infrastructure, systems and tools 3) Connecting better with citizens. And, to do it cost effectively.
  • Ask your Mayor, what’s going on now within your municipality when it comes to technology today and how they are moving towards a connected city?
  • Lighting is a key access point for connecting cities because they can be used as “towers” for sensors, public wifi and input source for data. “It’s floating to the top” but it speaks to the silos in municipalities. The utility responsible for lighting needs to collaborate with other municipal departments and leverage intelligent lighting initiatives.
  • Montreal created a department focused on Digital Transformation
  • Municipalities must see smart cities as an enabler of next generation of services offered by them AND local entrepreneurs as well. They need to drive an innovation economy and community around innovation.
  • Lighting, garbage collection and traffic management are the key “low hanging” fruit in order to improve productivity.  Intelligent lighting is helping municipalities save money and divert those savings to emerging technologies and smart city initiatives
  • Key reasons why cities aren’t embracing newer technologies?: they must in order to attract talent and people to work and live there.
  • How are they monetizing smart city initiatives?: San Francisco partnered with University of Berkely to monetize Open Data initiatives.
  • Ericsson taking with citizens in Montreal to find out what they are looking for in a smart city.

Follow the event hashtag: #IIoTSymp17

Stay tuned! Follow the event hashtag: #IIoTSymp17

Keynote: Macroscopes - The Invisible Made Visible

DRAFT/WORK IN PROGRESS: as of 1:34 pm

Slide titles below. He was covering so much so fast it was hard catch up!

  • With AI, our words will be a window into our mental health
  • Hyperimaging and AI will give us superhero vision
  • Macroscopes will help us understand Earth’s complexity in infinite detail
  • Medical labs “on a chip” will serve as health detectives for tracing disease at the nanoscale
    • He had 50 blood tests at a hospital but when he asked surgeon what his blood type was he didn’t know
  • Smart sensors will detect environmental pollution at the speed of light
    • Getting methane gas detection “on a chip”. We need to know when methane is leaking from pipes and in our air

 

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Panel: Biggest Concern of 2017 - Cybersecurity

DRAFT/WORK IN PROGRESS: as of 2:09 pm

  • WannaCry impacted utilities and manufacturing lines in Europe
  • IIoT may result in opening up utilities to adversaries who hack into power grid and figure out how it works
  • Ransomware hackers using cloud computing to find vulnerable systems. If a manufacturers product line is hacked or a utility how much would the hackers ask in ransom? More than $300!
  • Hackers are starting to learn industrial networks and protocols but don’t pose as much a threat … yet
  • Single biggest risk to U.S. is the financial services systems. U.S. Government forced financial services organizations to fill out forms to prove they had security measures in place. If they didn’t fill them out on time they were to be fined $5M and/or be imprisoned for up to 20 years. Canadian regulators like OSFI are less forceful
  • Gas pipeline industry being scrutinized in the U.S.. There is risk that the industry will be more regulated because Congress can’t get answers on how secure pipelines are
  • Early startups are promising the moon and then don’t deliver. This negative experience can create negative perceptions for other startups. Don’t promote and sell things you can’t deliver!
  • Most developed and advanced industry in cybersecurity practices is the financial services industry. Look to this industry when considering what your security posture will/should be for your organization
  • Strongest cybersecurity regulatory requirements will focus in two areas: 1) Critical infrastructure and 2) Systems that have PII (personally identifiable information)
  • An interesting story about Iran hacking into a dam and how it was blown out of proportion. I’m looking for another one because it was not a major security risk and that President Obama shouldn’t have been briefed.

 

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Keynote: Man and Machine - The New IIoT Experience

DRAFT/WORK IN PROGRESS: as of 2:29 pm

  • 34% of companies expects strong or fundamental change to its business model by 2020
  • 60% of management expect new competitors from at leas one of six sectors studied
  • Arrow helps companies make products and they get paid if their customers are successful
  • Have 750 companies in their technology portfolio
  • Serious started partnership with Arrow about seven years ago. Good example of how small startup working with a large 24B company to bring mutual value to the market.
  • “Metal benders can’t see the forest from the metal”. A metal ice cream dispenser is an IIoT device and company can/is selling data to customers.
  • Mentions narrow band networks but I ask Rogers, Bell and Telus where are they?
  • “We’re in the cooperation economy” where together, as partners, we work together to deliver mutual value
  • Companies with recurring revenue are valuated 8x greater than transactional ones

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Panel: Man and Machine - A More Intimate Connection

DRAFT/WORK IN PROGRESS: as of 2:55 pm

  • Three amazing entrepreneurs on this panel. What’s interesting is that they’re talking about the relationships they’ve developed with each other, Scott and Whitney. Relationships matter!
  • Imagine an app that you can look at via your phone that takes your blood pressure! It’s in the works!
  • Amazon is obsessed with what customers want and are guided by how customers think, act and engage with products like Alexa
  • Can emotional intelligence be integrated into Alexa, Siri and Cortana so they can respond with emotional context
  • Funniest justification for not allowing iPhone to use your fingerprint to sign into phone. “I don’t want the police to get my fingerprint and find out that I took some gum from Zellers”.

 

Follow the event hashtag: #IIoTSymp17

Stay tuned! Follow the event hashtag: #IIoTSymp17

Discussion: Celebrities and Entrepreneurs - Passion, Perseverance and Grit

DRAFT/WORK IN PROGRESS: as of 3:47 pm

  • William Baldwin was working on the hill and taking law school. He was watching what Alec was doing on Soap Operas and said “man if  that putz (Alec) can do it, then I can do this acting thing”!
  • Acting career is similar to being an entrepreneur. You take risk and put everything on the line to make it in acting. Not unlike the life of an entrepreneur
  • Freedom is what attracted Chynna to a singing vs. acting. A key goal for being an entrepreneur is the ability to have freedom of choice and being a master of your own destiny.
  • Billy and Chynna have been married for 26 years. It’s very clear that Billy is proud of Chynna and loves her dearly
  • Billy talks about how fast he ascended over a 2 year period; the competitive nature of acting and the importance of having a solid foundation. I assuming he’s talking about friends, family and his own belief in himself.
  • Best quote from Chynna: “I ain’t no dependent”
  • Interesting parallel to being an actor/singer and an entrepreneur. Big question: “how do you keep going”. Whitney’s daughter gave her two mementos with words: “believe” and “success”
  • Billy talks about being present, being focused and having gratitude. “It’s so important”. You have to have a curiosity to grow, evolve and learn. That you have the ability to change. Good advice for an entrepreneur. Best quote: “They say a Cheetah can change it’s spots, bullshit”.

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Special Performance: Chynna Phillips

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Keynote: Caterpillar Connect - Crossing the Digital Divide

DRAFT/WORK IN PROGRESS: as of 4:49 pm

  • If we can’t connect all assets (not just Caterpillar iron) and people we’re not going to be relevant to our customers.
  • It’s all about the customer. Mentions Hewitt being a world class remote monitoring dealer
  • Construction industry productivity has gone down or stayed flat
  • Construction projects experiencing $2.4 trillion in cost over-runs based on $10.5 trillion annual spend
  • Cat’s Vision: Transforming the Construction Industry with Digital Insights
  • Cat’s connect fleet is 500,000 and has largest autonomous fleet in the mining industry
  • Virtual superintendent: getting real time access to the construction site and information.
  • Get their vision 20 video. Cat connect technologies.
  • UAV, Virtual/Augmented reality (training and for equipment troubleshooting; send less experienced mechanic on-site an have senior mechanic available remotely) and Additive Manufacturing

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Keynote: Smart Equipment - The Pitney Bowes Journey

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Awards: McRock IIoT Awards Ceremony

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Event Recap

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Acknowledgements