In this podcast, Erik hosts Ron Konezny from Digi, a company with a long-standing history in providing reliable hardware but has evolved to become a solutions provider focusing on IoT. Ron details his journey from his initial steps in the wireless communications industry to his role in integrating technology and business models at Digi, aiming to transform it into a solutions provider with a significant portion of its revenue being recurring. They discuss how IoT has evolved, the importance of considering a holistic system rather than fragmented pieces, and the challenges of managing IoT solutions. Ron emphasizes the shift towards hardware-enabled recurring revenue models and the integration of software and services to create more resilient and adaptable solutions. The conversation covers the role of AI in refining IoT data analysis, the potential and limitations of technologies like 5G and LoRa, and the strategic movement towards offering more comprehensive IoT solutions that allow customers to focus on leveraging data insights. Additionally, Ron reflects on Digi's venture into vertical integration with SmartSense, offering a turnkey IoT solution for condition monitoring, underlining the importance of domain expertise in developing impactful IoT applications. 00:11 The Evolution of IoT and Digi's Journey 01:32 The Transformation from Hardware to Solutions Provider 02:29 Navigating the IoT Landscape: Challenges and Opportunities 04:30 The Role of Services in IoT Solutions 16:27 Exploring Use Cases and the Impact of IoT 31:53 The Future of IoT: Technologies and Trends 36:24 Digi's Strategic Focus and Vision for IoT