Internet Of Things – Challenges And Opportunities

Internet of Things (IoT) is the next revolution, and we are only at the beginning… the challenges are: How to make a smart use of the huge amount of data collected, enable a seamless use and a compelling User Experience (UX) ; The technology and solutions vendors need to make sure that both the digital service providers and the end users will not drown in the big data; Guarantee privacy and that all the IoT applications will live in harmony as elements of holistic UX. One of the opportunities is to make an open platform, user and context aware system that make a smart use of the data and information. Not simple, yet doable.

Background

IoT is one of the newest industry trends and any technology company has something to say about it if they want to keep being relevant and on the cutting edge:

Peter Diamandis summarized it well in his post $19 Trillion Opportunity:

  • The IoT describes the networked connections between devices, people, processes and data.
  • By 2020, the IoT has the potential to connect 50 billion people, devices and things.
  • In the next 10 years, Cisco is projecting IoT will generate $19 trillion of value – $14 trillion from the private sector, and $5 trillion from governments and public sectors (initiatives like smart cities and infrastructure).
  • Imagine a world in which everything is connected and packed with sensors.
  • 50+ billion connected devices, loaded with a dozen or more sensors, will create a trillion-sensor ecosystem.
  • These devices will create what I call a state of perfect knowledge, where we’ll be able to know what we want, where we want, when we want.
  • Combined with the power of data mining and machine learning, the value that you can create and the capabilities you will have as an individual and as a business will be extraordinary.

Business Insider put some numbers around it:

IoT and Owning the Chasms

In “Owning the Chasms” and “Owning the Chasms – So Now What?” I discussed the ecosystem of the digital world, which consists of 4 pillars:

For the sake of this discussion, let’s assume that the chasms described in that post are taken care of and that there are no cracks. In other words, each specific service related to IoT is flawless end to end.

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