IoT comes with a baggage of benefits and challenges. It’s time for business leaders to put aside their fears and embrace change.
The Internet of Things (IoT) is already here, changing the world as we know it. An explosion of mobility, cloud and big data, along with IoT is incessantly shaping the industry landscape.
While most of us are familiar with IoT in the consumer world of smart homes, wearable technology and connected cars, there’s much more brewing in the world of Industrial IoT – the blend of data, network and intelligent machines is creating a compelling impact on productivity, efficiency and operations in every vertical. Industries like healthcare and pharma, home automation, industrial automation and automobile have been quick to adopt and gain from IoT.
With new digital technologies like big data, mobility, 5G connectivity, analytics and automation, it won’t be long before everyone realises machines will communicate better and more efficiently over the Internet than us humans.
Given the speed at with IoT has been expanding – in both devices and application space – telcos will need a much faster network transformation to remain at the forefront. This defines a need to shift from physical networks to virtualization since it cost effective, ease of use and faster speed.
Connected devices and machine-to-machine communication will generate a lot of data, but data analysis is surprisingly not a big concern. The main issue lies in changing the business processes, using data insights and monetizing it.
Despite various concerns, enterprises will continue to invest in industrial IoT because it is the only way forward. Conditions need to be set in place properly so to identify and address potential challenges, including security threats, in advance. Once you overcome these challenges, opportunities for growth are endless. The irony here is that it is safer to disrupt and innovate
- CE Solutions Group