The web connected people, now the internet of things is about to do the same with the devices. This development has turned into a hype in media, but what is it really about? Gérald Santucci, Head of the Unit Knowledge Sharing at the European Commission Directorate General for Communications Networks wrote in 2011: “When objects can sense the environment and communicate, they become powerful tools for understanding complexity and responding to it effectively. Though such smart objects can interact with humans, they are likely to be interacting even more with each other automatically, without human intervention, updating themselves their daily schedules.” As Sam Ransbotham, associate professor of information systems at the Carroll School of Management at Boston College wrote in MIT Management Sloan Business Review December 2015: “We are attracted to, and ready for, the insights that will likely come. But being ready for the benefits isn’t the same as being ready for the associated changes.”
Four areas of change generated by IoT
Professor Sam Ransbotham identifies four areas of profound changes that the Internet of Things will generate.
1. Big data, IoT will provide more and more value from data, but who owns this data? Is it one or more companies in the chain of delivering the IoT application and service, or the end-user? This is very important since we know the accurate information means power, market power.
2. More companies have to transform into becoming both hardware and software providers, which will change their business models, how many of the companies are ready for this?
3. Security issues are already an enormous problem with information technology and with the increasing load of data, the IoT generate the proportion of the problem will grow extremely. When hackers take over your website or computer it causes a lot of damage, but what if they take over your self-driving car or medical equipment? IoT gives more physical control and in the wrong hands, it can be devastating.
4. IoT will change the decision-making process. The old process to gather information, analyze it, and then make decisions, will be dramatically faster and often turned upside down.
Benefits of IoT
The good news is that the problems and changes are manageable as long as organisations and individuals implementing the solutions before integrating the technology. Then we will be able to enjoy the benefits of self-driving cars, personalized and adapted learning environments, using one intelligent remote control to all devices wherever you are, automation of tasks that today takes time and efforts in the everyday life but with IoT can be done by connected devices etc. etc. etc. IoT is really delivering a 6th sense to people and a personalized assistant, so you can save time and efforts, so you can focus on what you want and need. One interesting source of information about IoT is Ericsson infographic about the subject and the IoT Comics Book
Ready or Not, Here IoT Comes
Also published on Medium.