Thursday, March 24, 2016

Incumbents don't create disruptions

I have long held the belief that incumbents in a sector never disrupt themselves and actively fight the breakthroughs to their detriment.  The automotive industry would have remained delightfully stagnant in its innovation, or at best incremental, until Tesla showed up on the seen.  Plethora of other examples abound.  For example, do you still book hotels?  Really?  What is a hotel?  Do you still call of a cab or a taxi?  Really?  What is a taxi?

While the Digital Oil Field (DOF) has been a dream being had for the last 30 years, new, innovative, and entrepreneurial players a making inroads to deliver the solutions.

"Predicting failures and changing operations in real-time are now table-stakes for an industry that is already stressed by low oil prices. ARC expects the survivors in the oil and gas industry to follow the lead of Henry-Pump and make use of IoT Analytics Platforms. In fact, according to Meshify representatives, the Industrial IoT platform is fully commercialized, and other customers now include Sierra Resources, Tyco Gas & Flame Detection and Lubrizol, to name a few."

I spoke with Meshify in their infancy and I am delighted to see the progress they have made.  Henry-Pump is just a small example of what is possible.  Question remains, why have the companies in Oil Field Services, who have had resources on hand, could not build something like Meshify 10 years ago?

Read the article here on the Industrial IOT blog.

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