As technologies such as cloud computing and big data analysis are gradually improving, their costs have also decreased significantly. The next big thing for the industry, Internet of Things (IoT), is also expected to flourish. To facilitate the formulation of an IoT ecosystem in Taiwan as well as to help companies grasp the next wave of business opportunities, Microsoft Taiwan will host the world's first "Microsoft IoT Expo" in Taipei on October 13 and 14.
This will be another one of Microsoft Taiwan's significant first endeavors since its first "DevDays Asia", which featured latest technologies in big data and IoT as well as established the world's first IoT Industry Development Center. Taiwan currently controls two major concepts with respect to the IoT industry: "mobile devices" and "cloud computing" were the main reasons for Microsoft Taiwan's breakout success in the intense internal competition. Cathy Yeh, Principal PM Manager, Cloud + Enterprise Product Group, Internet of Things Development Center of Microsoft Taiwan, stated that although production centers of the IT industry are gradually moving to areas with lower production costs, Taiwan it still a main R&D base for mobile devices due to its superior research and design talents.
Cloud Computing Injecting Value into "Things"
Microsoft is a premier supplier of cloud software, and many IoT products on the market already make use of Microsoft Azure due to its advantages in structural stability, openness, and global reach. Therefore, with the combined strengths and experiences from Taiwan's IT industry as well as Microsoft's cloud computing technologies, Taiwan is absolutely the ideal place for cultivating the development of IoT technologies. However, despite its advantages in R&D and innovation, Taiwan still faces substantial challenges brought on by the impact of IoT with respect to corporate business models and cooperation methods. Companies must expand their capabilities in adapting to the latest trends in order to evolve into the IoT era.
Cathy Yeh used the User Base Insurance (UBI) vehicle insurance that is full of market potential as an example. The most innovative design of the vehicle insurance is to determine the insurance rate based on the driving behavior of the insured. If data uploaded by an on-board device to the cloud indicate that the insured often drives recklessly, the insurance company would impose a higher insurance premium, and vice versa. This example fully illustrates the subversive effects of the "Internet of Things". Prior to the Internet of Vehicles era, the business model of automobile manufacturers was relatively simple: Procure raw materials, produce hardware, sell (to end consumers) for profit, and the end user pays for everything.
The Microsoft IoT Expo is Connecting Elite Talents with Demand
With the arrival of the IoT era, cloud computing capabilities transform concepts that were once only imaginable into reality as "Things" have become omnipotent, and the most urgent demands for vehicles are no longer just coming from vehicle owners, but from insurance companies which were not a part of the equation in the past; this is due to the fact that on-board devices which can analyze driving behavior of the insured match the demands of the insurance industry.
In the IoT era where imagination runs unhindered, the market winner is someone who can come up with unprecedented business models and collaboration options, and turn creativity into products or services contained in precise solutions. The winner must possess the ability to integrate "supply" (manufacture) and "demand" (applications) in order to create best selling products that are in high demand.
Business Opportunities Come from Integration
Taiwan has long depended on production orders and lacks strategic evaluation related to business models, or the necessary experience and channels in collaborating with the outside world. Microsoft has close to 200 branches across the world servicing over 330,000 clients; it has rich project execution experience for large scale enterprises and a deep understanding of the ecosphere of the software/hardware industry, as well as the capability to identify the requirements of corporate clients. Therefore, the "Microsoft IoT Expo" will fully showcase Microsoft's crucial role as an integrator as it invites software/hardware manufacturers, system suppliers, corporate clients, IoT experts, and opinion leaders from home and abroad. Through the two-day event, both sides can be connected to create business models with a high market value. Cathy Yeh emphasized that cross-domain and cross-border integration is the key to winning in the IoT era, and "business opportunities will come from integration".
The World's First Microsoft IoT Expo will take place on October 13-14, please visit website: http://iotexpo.azurewebsites.net/ for more information.
DIGITIMES' editorial team was not involved in the creation or production of this content. Companies looking to contribute commercial news or press releases are welcome to contact us.