Middle East IoT conference closes with keynotes from McKinsey and PwC

22 February 2019 Consultancy-me.com 3 min. read

The sixth edition of the IoT Middle East conference has concluded, with speakers from McKinsey & Company and PwC having provided keynote addresses.

With a full house of cross-industry C-level executives and experts in attendance for a business-focused insight into digital transformation and the Internet of Things, the IoT Middle East conference at the Armani Hotel in Dubai has concluded for another year. The audience this year was treated to a variety of insights from guest speakers, including representatives from McKinsey and PwC.

Opening the first of day proceedings was a keynote highlighting lessons from global lighthouses led by McKinsey & Company and Digital McKinsey in Singapore, followed by an address from PwC Middle East advisory partner Anil Khurana and PwC Germany principal and Industry 4.0 lead Jochen-Thomas Morr on leveraging IoT as a strategic tool to advance business models leading to desired results.

“The Internet of Things (IoT) and the transformations made possible with the Fourth Industrial Revolution are radically reshaping traditional industries and business models. That is why today, the opportunity lies in the hands of the companies that are able to adapt, innovate and compete against this still unfolding and ever-changing backdrop,” said Khurana, who leads PwC’s Middle East Consumer and Industrial Products practice.

Middle East IoT conference closes with keynotes from McKinsey and PwC

 “Our research tells us that those who champion the use of IoT, in manufacturing for instance, are able to see revenue and cost gains of 20 to 25 percent. That is a twofold increase from what they could have expected only three years ago,” Khurana continued, setting up a one-two professional services punch – for while there are significant gains to be made, many companies – especially locally – have been slow to react.

“Despite (the Internet of Things) impact many companies are struggling to capitalise on its potential,” says Vinay Chandran, McKinsey partner and local analytics and IoT lead. “Our research has found that of the enterprises that have launched pilot projects to develop IoT-enabled products and services or use the IoT to achieve operational improvements, less than 30 percent have taken these beyond the pilot phase.”

Other speakers at this year’s event included Ani Bhalekar, Vice President of IoT from Digital McKinsey Singapore, along with; Careem Co-Founder and Chief Xperience Officer (and McKinsey alumnus) Magnus Olsson; Tom Allen, Lead Sport Scientist of Arsenal FC; Peter Grey, technical director of Tour de France, and; Yousef Al Hammadi, CIO of Abu Dhabi 2019 Special Olympics – which recently signed on KPMG as an official supplier.

“Having over 350 C-level cross industry attendees in one room addressing the latest developments in our industry has been stimulating for delegates and we look forward to further interactions in the workshops tomorrow,” said IoT Middle East 2019 CEO Johan Ehrstrom heading into the second and final day of the event.