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Perhaps no technology trend has been more discussed over the past couple of years then the Internet of Things (IoT). While for many, the idea of IoT is primarily wearable technology like FitBits and Smart Watches, the real force behind IoT is the sensors that are embedded into devices across all types of industries that track far more than just our daily steps. For instance, the Industrial Internet of Things is bringing manufacturing plants online by creating intelligent devices and parts within them that can provide constant feedback to plant management to make sure that devices are operating correctly. Putting sensors in all of the machines most sensitive parts can give proactive notification to issues that may happen to that device several days or even weeks in advance. This means greater uptime and better performance. The industrial internet of things is the largest opportunity with IoT today. However, the data from these sensors may prove to even more invaluable in the future.
Speaking of how invaluable big data is to marketers, the IoT offers immeasurable insight into customer’s mind. It’s also changing how daily life operates by helping create more efficient cities and leaner enterprises. Businesses and customers alike will continue to benefit from the IoT. With an estimated 50 billion IoT Sensors by 2020 and more than 200 billion “Things” on the Internet by 2030, it is no question that IoT will be not only transformative, but disruptive to business models. The potential for personalizing content from cities and brands directly to consumers is infinite and the mass of data created by IoT will engage in a wonderful partnership with Artificial Intelligence and Machine Learning which will be key in maximizing the value of the data.
In this short video I discuss why the rapid growth of the Internet of Things is such a big key to digital transformation of the enterprise.
Daniel Newman is the Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Living his life at the intersection of people and technology, Daniel works with the world’s largest technology brands exploring Digital Transformation and how it is influencing the enterprise. Read Full Bio