Advantech is planning to establish an internal department called IoT.SENSE to focus on developing the company's co-creation model, and the company also plans to develop Solution-Ready Packages (SRPs). In a later phase of IoT growth, Advantech will place special emphasis on its co-creation business model and accelerate the development of a business model with truly high potential for this phase, namely, the introduction of industrial cloud computing service providers. Advantech will thus continue co-creating as a platform provider.
Co-President Eric Chen (current CFO and CIO) stated that accepting the position presented both a learning opportunity and a challenge, and that he would continue to lead the staff, contributing to the company not only in finance and IT but also in management, governance, profit, and sustainability. He also looks forward to accelerating the development of Advantech's smart manufacturing and smart city solutions alongside the other two co-presidents, in order to achieve the company's brand vision of enabling a smart planet.
Vice President Miller Chang (current Vice President of the Advantech Embedded Core Computing Group) believes his primary mission is to maintain Advantech's position as a leader in the hardware platform industry during the first phase of IoT. Advantech's future business model will focus on two areas: core embedded computing and allied design and manufacturing services, with the primary objectives of strengthening IoT devices and platforms and developing cutting-edge intelligence platforms.
Vice President Linda Tsai (current Vice President of the Intelligent System Group) noted that the Industrial IoT Group will focus on the local market, with an emphasis on specific verticals, and the group aims to develop Service Level Plans (SRPs) for the second phase. The group will also establish a co-creation business model for partners in the third phase. In addition to overseeing these developments, it will also assume additional responsibilities and support Advantech on its path to sustainable development.
Chaney Ho, CEO of Advantech, stated that he has completed his mission for this phase since assuming the role of Chairman in 2009, and in his capacity as CEO, he will continue to expand the boundaries of Advantech's global business to achieve a more stable position in each market. His focus will be on realizing the full potential of the IoT industry in Taiwan. Furthermore, to help Advantech successfully implement the co-chair model, he will serve as a mentor to the three co-chairmen and other junior executives, assisting them with any decision-making concerns they may have. He will become a key figure in Advantech's operations.
Finally, KC Liu, president of Advantech, emphasized that the main orientations of the IoT business model focus on a sharing economy and interdisciplinary integration. Advantech must innovate its organizational structure and operations to capitalize on the considerable IoT opportunities over the next 15 years. First, the holacratic model makes horizontal communication and talent succession more effective while accelerating IoT innovation. Furthermore, Advantech is already actively involved in co-creation and plans to invite organizations (such as the Industrial Technology Research Institute and the Institute for Information Industry) and leaders from various industries to collaborate on co-creating industrial cloud computing service providers, with plans to co-create at least 10 companies within three years for full deployment in the IoT industry.
