“anytime you’re dealing with IoT, you know, the first thing one has to realize is you’re working at a systems level, at a very high systems level. And the key to good systems engineering and systems design is don’t build what you should buy… Basically, you have to build, only that which really differentiates you in the marketplace, and that really solves the problem that you’re trying to solve. And then the follow on to that is the biggest miss in IoT right now, particularly industrial IoT, is the developers forget about one extremely important thing, and that’s deployment.”-Scott A. Nelson, Reuleaux Technology, LLC
What is the Internet of Things?
Scott explains it is the digitization of the physical world and connecting that to the internet where you can apply unlimited computing resources to convert that data into useful information. He discusses the evolution and future of IoT. He identifies the smartphone to have the most profound impact on the current health tech industry. Scott discusses the financial mistakes startup companies make when creating a new IoT product. He also stresses that security is not something you buy, it’s something you get through your development. It must be core to everything you do. Scott thinks AI systems will continue to learn if the system is built right, if more data keeps coming into the system, and as long as it’s parameterized broadly.
“for me, the biggest kind of issue with AI, particularly in healthcare right now, is what is the definition of true AI? A lot of what’s called AI, in my opinion, is actually machine learning because it’s deterministic. It’s the deployment of algorithms with known outcomes based on unknown inputs… You know, the outcome is determined and then the system remembers it so that it can do it faster the next time … A true AI system is nondeterministic. You give the system a general direction and a general desired outcome, but you don’t know exactly how it’s going to get there … I think there’s a lot of opportunity when one starts looking at behavior modification and one starts … learning from data and allowing, you know, agents to do experiments on big data, intrinsic experiments, where I have a parameterize data set from, that’s statistically relevant and I can effectively run clinical trials without touching patients a second time because I have enough data. You can cut loose AI bots on that situation because if you fail there’s still kind of a human in the loop at some point to not impact lives with that failure. You’ll, basically, be a checks and balances.”
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Today’s Podcast Topics:
- Scott provides his perspective on how Internet of Things (IoT) has advanced today vs 5 years ago, and what is the future of IoT in 2025?
- What one key technology Scott believes will have the most profound IoT impact in the Med Tech industry?
- What financial “headwinds” that should be avoided in developing an IoT platform?
- What advice Scott would offer to the Med Tech industry to protect against various strains of malware?
- Will Artificial Intelligence continue to “learn” about the learning process?
- Finally, Scott’s perspective to people who are newly entering the Med Tech Industry?
Links and Resources Mentioned in this Podcast:
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About the Host:
Jon has more than 25 years of experience in the medical device industry with progressive senior level experience with both public and private medical device companies. Prior to Spineway USA, Inc., he was EVP of Prosidyan, Inc., focused on synthetic bone graft materials for optimal healing, exclusive rights were acquired by DePuy Synthes, part of the Johnson & Johnson Medical Devices Companies in June, 2018. Jon has successful commercialization and revenue generation with Zimmer Spine, Centinel Spine and Wenzel Spine. Jon received a BS from Ball State University and is an active Board Member (Advisory) at ZygoFix, Ltd.