McKinsey Digital
Impact Story

A new Internet of Things platform and business

A global telecoms company knew that the Internet of Things (IoT) is taking off in a big way. But since many ‘smart’ products only worked with their associated apps, it’s difficult to build a true ‘smart’ ecosystem.

Our client asked us to do just that—transform the way consumers interact with IoT. Together, we built a new IoT business from the ground up, including technical design and execution for the new platform, onboarding a network of partners and users, and scaling the talent and capabilities to make the new business a success.

IOT

The challenge: moving products from analog to the IoT is tough. Real consumer success stories are hard to find.

The journey: 9 months to revolutionize consumer IoT

  • founded the new IoT business, staffed with an interim McKinsey team
  • hired world-class IoT, digital and mechanical specialists into the business, drawing from well-known tech firms and startups
  • built a consumer IoT technology platform with a radical approach to data stewardship—unbundling IoT devices and apps
  • designed, engineered, and launched the first product to showcase the platform and attract new partners
  • built an ecosystem of partners, including design agencies, startups, and hardware manufacturers, with more on the way
  • signed up the platform’s first customers

Impact after 9 months

Capability spotlight

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We partner with established organizations to build and scale innovative new businesses—fast. Businesses that capitalize on what you do best, but with the tools and capabilities to survive and thrive on their own. Businesses that have the potential to transform your entire organization, and to carry on generating game-changing ideas for the long term.
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