Intel's Bet on the `Internet of Things'

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Oct. 8 (Bloomberg) -- Intel's Ton Steenman discusses the company's plan to roll out products aimed at connecting everything from industrial equipment to household appliances. He speaks with Cory Johnson on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

What is your day-to-day?

We really try to enable the internet of things for many of our customers, and for them, it is really about, how do unleashed business transformation with these new devices they are connecting up?

What does it mean on a day- to-day basis?

How are you trying to jumpstart a market that is only beginning to exist?

The market has existed for a long time.

Think about farm street all of these farms -- think about wind farms.

You can monitor multiple wind farms across the state.

If you look at all the data, bring the data into the cloud, and big data analytics is what it is about.

It is not just about chips.

It is about lots of things monitoring lots of things and putting that data into a place where it can be used.

Exactly.

The power is really about how people distribute analytics.

Analytics in the cloud has really driven business transformations.

It is interesting.

Most of the companies and businesses that can use the internet of things, they spend about $36 trillion in operating expenses.

Yes, but on things like how to run a commissary.

Operations.

Do you have to think about ideas they are not thinking of because they do not know it is possible, or do you walk into a customer's door and say, we have tried to make this thing happen?

We really make new things happen for them.

Very often, these companies do not know how to harvest big data and how to leverage that into business transformation.

If you think about the energy field, how can you get data out of substations and homes and use that to optimize energy flow?

These are huge transformations for those types of companies.

Are these more software questions then commoditized chip questions?

The software is incredibly important to make this happen.

As an example, 85% of the devices we are talking about actually sit in legacy infrastructure.

What does that mean?

It means these devices are all out there.

How do deliver the benefits -- for example, windmills.

Water supply, the existing grids.

It is really about, how do bring the benefits of that to those companies?

That is the business transformation.

We have designed and introduced this morning a number of different products that help these companies do that.

Really interesting stuff.

Thank you very much.

I appreciate it.

Emily?

I want to get back to this

This text has been automatically generated. It may not be 100% accurate.

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