SEOUL, Oct. 15 (Korea Bizwire) – IBM has announced that it will concentrate on Internet-of-Things (IoT) businesses in the B2B (business to business) sector, and strengthen cooperation with Korea.
At an IoT strategy briefing, Jack Desjardins, who is the vice-president at IBM in charge of the global business development of IoT, talked about possibilities in the B2B market, commenting, “Seventy percent of the industrial value created by IoT technology comes from B2B industries, and the economic effects will reach over 11 trillion dollars.”
He also suggested that Korean companies should focus on the B2B field rather than the B2C (business to consumer) field they are currently concentrating on.
IBM is planning to build an IoT center (COC; Center of Competency) in Korea, after the establishment of similar centers in the U.S., Germany, Brazil, China and Japan. With the support of the center, the company plans to help domestic clients, who are strong in the equipment and manufacturing industries, innovate their businesses.
IBM has suggested the concept of ‘Cognitive Business’ as a different characteristic from other IoT businesses. Through big data and cognition computing technologies, cognitive processes such as understanding, deduction and learning can be realized, leading to innovation in each field of the industry.
IBM is picking up speed in attacking the market by establishing a new operating division. The company also announced in March that it will be investing three billion dollars in IoT-related technology over the next four years.
By Kevin Lee (email@example.com)