Piers Hogarth-Scott, KPMG Australia's National IoT Practice Leader, interviews Bosch Australia President, Gavin Smith as part of our IoT Innovation Network Series.
As one of the world’s largest industrial companies, Bosch is embracing the IoT opportunity by bringing device connectivity capability to their wide range of products and services. In Australia, Bosch is particularly focused on IoT in agriculture and Gavin shares insights on the opportunities this market brings.
Let’s hear what Gavin has to say.
“Bosch is a company that has been around for 130 years, best known for making things, and for most consumers they will recognise our power tools, they will recognise our appliances, they might know us for car parts, but they don’t know us for lots of other things. The opportunity for Bosch from IoT is, as one of the world’s largest industrial companies – who is closely connected to factories, to consumers, to industry – to bring capability to connect all of those devices to generate new business opportunities, not only for our company, but for those of our customers, our suppliers and other industry stakeholders.
Bosch’s IoT products and services are far-ranging as you might expect. So our products range from the toolkits that are used to build systems and connect devices, through to a cloud-services platform, through to software as a service, platform as a service, the process connectivity suite, which allows you to connect the devices and manage devices in an IoT environment, but also goes right into the heart of the products that we design and develop and bring in to different sectors. We have a wide range of connected components already in cars. We have a wide range of connected components in our consumer goods, be it power tools or appliances. So it is a very broad based approach to IoT in our firm.
So the Bosch approach to IoT is one where across all of our product groups we will enable connectivity by 2020. We don’t look at Australia as a market in isolation, we look at how we can apply the technology in all markets. In Australia however we see there are some particular ‘sweet points’ for us to pursue. Australia is recognised as a powerhouse in agriculture. We are a very challenging market because it is poorly protected or not protected, there’s high labour costs, it needs high rates of innovation, and we see that bringing IoT into agriculture can help drive yield, reduce risk and help farmers make better decisions that improve outcomes. So we will be developing solutions and systems and approaches for IoT in Australia, more for agriculture than perhaps in other areas, because we see it being a particular strength here.
It is what we would describe as an enormous leap of faith, but it is not one that is unique to us, most industrial companies are doing the same. It is a little bit like the movie with Kevin Costner, Field of Dreams – ‘if we build it, they will come’. If we put connectivity in, smart people will find applications for it. They will develop new business models, that today we can’t even imagine because we are not mentally creative enough to even think it through fully. So we would expect that we will be surprised literally day by day, week by week about the things we can do in the future because we have enabled connectivity for all these things that in the past have just been standalone assets.”