The companies said they would combine their technologies to create 5G solutions for the industrial internet of things (IoT)

IBM and Verizon yesterday announced a new partnership to collaborate on 5G-enabled industrial IoT.  The industrial IoT sector is expected to be worth $263.4 billion by 2027 and it seems that major collaboration is the best way to get a slice of that pie.
The focus of the partnership is to make use of Verizon’s 5G and multi-access edge computing (MEC) capabilities with IBM’s expertise in AI and hybrid multicloud. The initial solutions on offer include a combination of Verizon’s 5G network and IoT platform with IBM’s Maximo Monitor and attached analytics. According to Verizon, this should “help clients detect, locate, diagnose and respond to system anomalies, monitor asset health and help predict failures in near real-time”.
“This collaboration is all about enabling the future of industry in the Fourth Industrial Revolution,” said Tami Erwin, CEO of Verizon Business. “Combining the high speed and low latency of Verizon’s 5G UWB Network and MEC capabilities with IBM’s expertise in enterprise-grade AI and production automation can provide industrial innovation on a massive scale and can help companies increase automation, minimize waste, lower costs, and offer their own clients a better response time and customer experience.”
5G’s enabling of edge computing in the IoT is one of many things set to revolutionise industry in the coming decade, allowing for the potential development of remote control robotics, near real-time cognitive video analysis, and plant automation; all of which will contribute to billions of dollars saved for manufacturers.
Right now, with 5G’s limited coverage, such a future is still some way off, though some larger companies, such as Ford, are experimenting with their own private 5G networks to facilitate their specific needs.  
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