EAST Session: Equipment manufacturers face rising competition, hardware commoditization, and shrinking margins. The solution? Innovating with IoT, AI, and cloud services to enhance equipment value and create new revenue streams. By connecting hardware to the cloud via wireless sensors, manufacturers can collect real-time data on health and usage. This enables value-added services like condition monitoring, asset tracking, and predictive maintenance—paving the way for Equipment as a Service (EaaS). While full servitization is a long-term goal, the journey brings immediate benefits: competitive differentiation, stronger customer relationships, and recurring revenue. However, 75% of these projects fail or face long delays, and many manufacturers struggle to sell software-based solutions. In this talk, we’ll break down the challenges of integrating IoT and AI—and how to overcome them. With over a decade of experience, we’ll highlight common pitfalls and share success stories from industry leaders using a “Buy and Build” approach. You’ll leave with actionable strategies to accelerate your servitization journey and maximize equipment value. Significance/Importance: If you're standing still, you're falling behind. And staying ahead means innovating. Unfortunately, 75% of IoT projects fail, or drag on for years. Don't be another statistic. This talk will leave you with actionable strategies to accelerate and succeed on your servitization journey.
