“The way to address that opportunity is not in an isolated fashion. You get the biggest bang for your buck by looking at the entire value chain.”
Smarter planet
Foster explained that organisations are in a position to measure information on a scale never seen before, and that the cost of measuring devices, mainly transistors, has dropped to almost nothing. “We can sense and see the exact condition of practically anything for very little cost.”
This is coupled with a world that is becoming increasingly interconnected, according to Foster, evidenced by the explosion in telecommunications and the growing number of mobile phone subscriptions, which stands at around four billion worldwide. “People, systems and objects can communicate and interact with each other in entirely new ways,” he explained.
“Once all the information is collected, and you've connected it all together, then you're producing vast amounts of information in real-time. This is where the third concept comes in – you can make intelligent decisions,” argued Foster.
He explained that intelligent decision-making involves using the information gathered to determine how to prevent problems from happening before they occur. “It's not about doing things at month-end, or after they have happened; if you can detect what's happening in real-time you can prevent power outages on the energy grid, and wastages in terms of energy and water consumption. We can do things fundamentally differently.
“With this amount of intelligence and processing power being embedded in devices you wouldn't have thought of as computers a while ago, there's no reason why any device, person, process, or organisation can't be digitally aware, connected, and smart,” Foster added.
“Then it's a case of how to use all of that to impact your green agenda, and how to reduce costs, improve operational efficiencies and bring new products to market quicker.”
Less is more
Foster outlined three considerations in moving towards a more sustainable and cost-effective business, the first being how to do more with less. “Don't just look at one aspect; look at everything in the organisation.” According to Foster, this includes applications and data, information technology, real estate and facilities, building infrastructure, and energy management.
Another consideration for businesses, said Foster, is the need to be more responsible. “Organisations are being challenged to account for the environmental and social impacts of their activities. It starts with a clear strategy in terms of what the green agenda is, and having a governance model that sits at the forefront of the organisation, to measure and monitor processes.”
He added that companies need to consider the implications of their suppliers' and manufacturing activities on overall costs. “You cannot just assume that your trading partners are green, you have to ask for green credentials and measure what they do if you claim greenness in terms of regulatory requirements and stakeholder expectations.”
Thirdly, said Foster, organisations need to be more efficient. “You need to look at building smart systems and practical applications. Intelligent systems gather, synthesise and apply information to change the way the entire industry operates.”
He cited US Department of Energy figures that show 67% of energy is lost in transmission. “Imagine if you could detect an error before it becomes critical, and send people out before the impact of the problem becomes consequential.”
Foster believes the possibilities have only just begun, with the vast amounts information being collected in real-time offering huge opportunities. “The implications of living in a socially, technologically, and economically connected world are being felt more profoundly now than ever before.”
Original article here
