New study reveals that nearly half of Canadian businesses have no plans to implement Internet of Things technology, while the other half is ready to reap the benefits

Toronto - Half of Canadian businesses could soon have a competitive advantage over the rest: according to a new study commissioned by TELUS, there's an even split between Canadian businesses when it comes to their plans for Internet of Things (IoT) technology.

The study found that 52 per cent of Canadian businesses are considering, planning, piloting or deploying an Internet of Things (IoT) solution, while 48 per cent indicated that they have no plans at all to adopt the technology. For those who are not considering IoT, 64 per cent feel that there is no business need.

'By embracing IoT technology, Canadian businesses have a huge opportunity to reap the benefits of digital transformation, yet we're seeing that some are much further along the adoption curve than others,' said Jim Senko, senior vice-president of Small Business and Emerging Markets at TELUS. 'From streamlining business processes to creating entirely new business models, IoT solutions have tremendous potential to generate efficiencies, increase cost savings and quite literally, revolutionize how businesses operate. If companies aren't already looking into the technology, they're at risk of falling behind those that are.'

Organizations that have embraced IoT are seeing the results that the technology can deliver - and they want more. The study revealed that the vast majority (86 per cent) of Canadian businesses who have piloted or deployed an IoT solution are seeing its value and 83 per cent are planning or already implementing additional solutions. There's a sense of urgency amongst these adopters as well, as more than 50 per cent wish they were further along in their deployments.

According to the study, Canadian businesses are sharply polarized when it comes to the impact they think IoT will have on their industry. Nearly two-thirds of businesses who are in the piloting and deployment stages predict that they will see a transformational impact on their business over the next five years, while only seven per cent of non-adopters feel the same way.

'The vast majority of businesses that are piloting IoT solutions are realizing that small changes can have a big impact and that, with the right partner, the technology can be deployed safely and securely,' said Senko. 'A business can start with something simple like remotely tracking vehicles or high-value assets and then evolve their IoT strategy and build their business case as they gain experience with the technology. There are IoT solutions for nearly every industry, and it's important that businesses 'test the waters' to fully understand what IoT can and can't do for them.'

Other key findings in the study include:

  • Of the 52 per cent of IT decision makers who are interested in IoT:
    • 23 per cent are considering
    • 11 per cent are planning
    • 9 per cent are piloting
    • 9 per cent have deployed at least one solution
  • The most common solutions currently being piloted or deployed are security (53 per cent) and remote monitoring (47 per cent)
  • The biggest barriers to adoption for IT leaders, regardless of development stage, are budget (51 per cent), security (41 per cent), privacy (36 per cent) and demonstrating ROI/building a business case (33 per cent)
  • More than half (55 per cent) of Canadian businesses do not feel they have the necessary IT expertise within their organizations to develop IoT solutions and require external partners

  • The study was conducted by MARU/VR&C (formerly the Research & Consulting Division of Vision Critical) and surveyed 506 IT decision makers from businesses across Canada in March 2016.

    To learn more about the IoT solutions TELUS offers, please visit telus.com/iot

    About TELUS

    TELUS (TSX: T, NYSE: TU) is Canada's fastest-growing national telecommunications company, with $12.5 billion of annual revenue and 12.5 million customer connections, including 8.5 million wireless subscribers, 1.5 million residential network access lines, 1.6 million high-speed Internet subscribers and 1.0 million TELUS TV customers. TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video, and is Canada's largest healthcare IT provider.

    In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed $440 million to charitable and not-for-profit organizations and volunteered more than 6.8 million hours of service to local communities since 2000. Created in 2005 by President and CEO Darren Entwistle, TELUS' 11 Canadian community boards and 4 International boards have led the Company's support of grassroots charities and have contributed more than $54 million in support of over 4,900 local charitable projects, enriching the lives of more than 2 million children and youth, annually. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition.

    For more information about TELUS, please visit telus.com.

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    For more information, please contact:

    Ryan Bazeley

    TELUS Media Relations

    604-230-3268

    ryan.bazeley@telus.com

TELUS Corporation issued this content on 27 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 04:48:53 UTC

Original Document: http://about.telus.com/community/english/news_centre/news_releases/blog/2016/04/27/canadian-businesses-face-a-digital-divide-when-it-comes-to-the-internet-of-things