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For manufacturers, the Internet of Things (IoT) appears as a shiny new opportunity, full of promise and possibilities. For others, the IoT seems more like a dangerous sinkhole - a vast, untested realm waiting to suck up precious investments.
In truth, both beliefs can be true. That's because manufacturers today face two seemingly conflicting priorities when contemplating the IoT:
- Keeping costs low and retaining margins
- Adding IoT connectivity and new functionality to products, when doing this will certainly mean additional costs