TECH THURSDAY: The Internet of Things Offers Strong Economic Opportunity for Indiana


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In late September, I had the opportunity to attend the second annual Internet of Things (IoT) conference at the Launch Fishers co-working facility. It was an energetic afternoon with substantial knowledge and information exchange about the future – and it suggests vast economic potential for Indiana.

For those who don’t know what IoT is, Wikipedia defines it as “the internetworking of physical devices, vehicles (also referred to as “connected devices” and “smart devices”), buildings and other items – embedded with electronics, software, sensors, actuators and network connectivity that enable these objects to collect and exchange data.”

The IoT event started with a lunch and welcome by Fishers Mayor Scott Fadness who explained to guests – including legislators invited by the Indiana Chamber – the vision of how Indiana can be a global leader in the IoT field. Lunch was followed by a series of “TED talks” by Indiana industry leaders from manufacturing, agriculture, energy and logistics who shared how the connectivity of devices can improve how Indiana grows, makes and moves things.

Executives from Tom Farms, Delta Faucet, Cummins and other companies all talked about what the future looks like in their business, embellished by IoT technology.

John McDonald, president of CloudOne and chairman of the Chamber’s Tech Policy Committee, said IoT technology has “practical economic uses, ranging from farmers measuring soil samples in real time to logistics companies tracking their fleets and checking for mechanical or efficiency issues.” The Chamber believes IoT has the potential to bolster Indiana’s economic strengths in manufacturing, agriculture, life sciences and logistics.

The Chamber supports programs that advance the ability of Indiana companies to leverage technologies and skills that improve innovation in product development and facilitate manufacturing and production advancements, in order to offer superior products and services to the emerging IoT economy. This is especially true when these companies leverage other Indiana companies as the source for those technologies, skills and innovation.

Through the Indiana Technology and Innovation Council, managed by the Chamber, we will work to encourage the use of all available mechanisms, including tax policy, economic incentives, support for collaboration between Indiana companies and promotion of these efforts on national and international levels.

We believe Indiana has the potential be a national and potentially global leader in helping companies elevate their products for IoT. The impact affects both Hoosier companies that supply Internet of Things technologies and skills, such as data analytics, sensors, networks, software, technology consulting and cloud services, as well as those that consume them to make superior products and services for global markets.

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