The IoT is already changing the business world
The Internet of Things is already having a transformative impact on businesses, and it will continue its growth in the coming years. Recent trends have changed the trajectory experts anticipate when predicting the IoT’s impact across the business world. Here are a few changes to look for.
Overwhelming Data
Low-cost IoT devices enable companies to collect a tremendous volume of data, and the low cost of storage makes it easy to keep indefinitely. However, transforming this data into useful information is no trivial task, and investment in analytical tools will be high. Companies are likely to turn to custom programming and rely on the help of statisticians to separate the signal from the noise. The IoT and Big Data work hand-in-hand, and they’ll bolster each other going forward.
Increased Focus on Security
Companies have long claimed to take computer security seriously. The amount they invest in security, however, undermines this claim. With the IoT becoming a necessity for many businesses, those involved in cybersecurity can expect to see increased interest going forward. However, it’s worth noting that there’s already a shortage of people with necessary cybersecurity skills, and this gap is only expected to grow. The potential damage done by cyberattacks has risen over the years, and having IoT devices present another potential risk vector.
Voice Recognition
Voice recognition has long been a goal, but progress over the years has been slow. This has changed in recent years, and various voice assistant technologies now provide far more accurate recognition than ever available. Employees should expect to be able to issue commands without a keyboard, and various new technologies, including the smart desk, will begin changing day-to-day operations in the office.
Greater Energy Efficiency
Although the IoT is adding countless devices to networks, these devices typically use little power, and some even use integrated solar panels. Even more importantly, IoT devices allow systems to respond in a smarter manner; IoT-enabled HVAC systems, for example, can cut back on heating and cooling costs. In many cases, the improved resource allocation enabled by the IoT can quickly cover the initial investment.
Increased Focus on Collaboration
Collaboration has always been core to successful businesses, but the IoT and associated tools are enabling new ways for individuals to work as a team. The real-time data provided by IoT devices means employees’ jobs are likely to become more general, and automation could cause employees to shift to new roles within the company. These tools also have the potential to do away with the traditional concept of the office. If employees need only an internet-connected device, remote work is more attainable, making the concept of the virtual office more realistic.
The Internet of Things is already embedded in countless businesses of all sizes. Although the opportunities it presents are exciting, making the most of what the IoT has to offer can be a daunting task. Projecting which technologies should be receive the most investment can be difficult, yet failing to invest can cause companies to fall behind their competitors. It’s critical for upper-level employees to keep up with the IoT and what it can mean for their offices.
