Tencent has been working on the development of industrial internet in a bid to help integrate upgrades to various industries but CEO Pony Ma believes the automobile industry will benefit most significantly from the new tech trend.
According to Panda Daily, Ma explained that through industrial internet developments, carmakers can transform into advanced service providers instead of just focusing on creating vehicles for the global market.
"Industrial internet is a general term that includes the transformation and upgrades in services, agriculture, and manufacturing industry. Many automobile companies can become an integrated service provider, rather than a simple manufacturer, with the help of the Internet," he said.
Ma shared his insights during the IT Summit 2019 held in Shenzhen wherein technology experts and companies gathered to discuss potential innovations and development points for the massive and booming tech industry.
During his speech, Ma further stressed the importance of brick-and-mortar firms adopting advanced technologies to better serve customers and improve efficiency in the workplace. He added that since industrial internet will now mold the future of manufacturing and auto sectors, cybersecurity is a must.
In Tencent, the battle against cybersecurity rages on but the Chinese tech behemoth has established seven security labs to prevent potential security threats from hackers and counterfeiters of Tencent products and apps.
Ericsson recommended in a recent post that companies indulging in industrial internet developments should also enhance their systems through multiple cybersecurity measures to ensure that connectivity and applications, as well as central domains, are protected against potential threats.
5G is another technology that Ma mentioned in his speech as one that will help facilitate connections between artificial intelligence (AI) and the industrial internet. He said 5G integrations will help empower corporate initiatives of digitization and AI systems.
The latest data on industrial internet echoed Ma's statements during the summit. The global industrial internet of things (IIoT) market is expected to expand further until 2026 as more companies adopt big data analysis and blockchain technologies that help improve workflow efficiency.
Aside from Tencent, other tech companies have collaborated to present scenarios that will showcase the benefits of industrial internet technologies in corporate settings. Qualcomm and Nokia have teamed up with nine other firms to demonstrate live 5G industrial IIoT use in various industries.
The demonstration will roll out this week in Germany at the Hannover Messe 2019 conference. Qualcomm, Festo, Bosch Rexroth, and other firms will be testing devices that will use IIoT technology while Nokia will demonstrate the use of a live over-the-air 5G network.
