Consulting firm Accenture has acquired Boston-based Altitude, another consulting firm that aids in the product design and innovation for several global brands in healthcare, consumer goods and technology.
The acquisition could prove beneficial to Internet of Things (IoT) companies, as one of Accenture's purported goals is to make use of Altitude's engineering capabilities in the digital arena of cybersecurity, artificial intelligence (AI) and, of course, IoT.
To this end, Accenture will launch a Connected Products Studio in Altitude's hometown of Boston. While no further details have been released about this studio, Accenture has stated an interest in developing “an integrated set of connected-product services” with the help of its newly acquired friends at Altitude. This could mean some dedicated research into IoT product design, business models and markets to enhance the position of Accenture's IoT clients.
“Designing and building connected products requires entirely new competencies to redefine the business or product strategy, customer experience and ecosystem, along with the underlying technologies that Accenture has built, such as cybersecurity or machine learning,” said Accenture's managing director, Brian Doyle. “This acquisition will enhance our ability to help clients drive more successful innovation and create growth platforms that harness the Internet of Things.”
One of the reasons that Accenture feels its advice will be needed in this area is that its own research suggests that the majority of companies have yet to make any moves in the IoT domain. According to Accenture’s 2015 CEO briefing, 73 percent of businesses lack any sort of IoT strategy (see similar data here), and only 7 percent of companies have made strategic IoT investments with a corresponding IoT plan in place.
These numbers are consistent with a point we've made before: despite its numerous advantages, the IoT is still in its infancy. We're seeing a select crop of leaders moving forward into the IoT future, while the majority of executives are tentative about taking their first IoT steps.
If you and your company are interested in being one of these IoT leaders, seeking advice from the new combination of Accenture and Altitude is one option for finding your footing.One way or another, you might not want to go at it alone. For more information, read Don't Do IoT Yourself, Say Experts.