THE LEASING FOUNDATION VISION WORKSHOP ON LEASING AND THE INTERNET OF THINGS
8 MAY 2015, LONDON
A collaboration between CultureLab at Newcastle University & The Leasing Foundation.
8 MAY 2015, LONDON
A collaboration between CultureLab at Newcastle University & The Leasing Foundation
Co-chairs
Prof. Patrick Olivier, Director, CultureLab
Prof. Peter Thomas, COO The Leasing Foundation
This workshop, a collaboration between with CultureLab at Newcastle University and the Leasing Foundation, will explore the dynamic and fast-changing Internet of Things (IoT) and identify opportunities for the Internet of Things in the leasing and asset finance industry.
A small group of industry professionals including lessors, manufacturers, finance companies and technology companies, along with academics and representatives of research funding organisations, will meet in London on May 8 at CHP Consulting.
The leasing and asset finance industry, with its deep connection between assets, customers and finance, can exploit and drive forward new IoT applications. The workshop will inform thinking at a national level and enable the industry to identify new opportunities for research, development and deployment of IoT technologies. The workshop will create a vision statement that will identify new business models and new revenue streams that can help create a more robust, modern and profitable leasing and asset finance industry.
About the Internet of Things (IoT)
“I see the Internet of Things as a huge transformative development, a way of boosting productivity, of keeping us healthier, making transport more efficient, reducing energy needs, tackling climate change.”
David Cameron, CeBIT Conference, March 2014
The Internet of Things (IoT) describes a proliferation of sensors and cloud computing that gives businesses access to unlimited amounts of data.
After a decade, the IoT is now poised to transform businesses that can harness this data, use it to act on key insights and so improve customer service, reduce time to market and enable new innovations in products and services.
A combination of cheaper semiconductors, wider network availability, changes in data management and storage, and the growth of powerful analytics and applications are driving the Internet of Things. In the three years to 2014 the annual increase in IoT patenting activity has been eight times larger than the general worldwide increase in patenting. UK patenting activity in IoT rose by over 150% between 2011 and 2012.
Cisco suggests that IoT could generate $4.6 trillion for the public sector and $14.4 trillion for the private sector globally over the next decade, and research firm IDC estimates that, in 2020, over 40% of all data in the world will be data resulting from Machine to Machine (M2M) technology. Arup estimated that the global market for Smart Cities applications would be $400 billion globally per annum by 2020.