Unsurprisingly, markets in Asia-Pacific are investing heavily in research and development to support the rollout of IoT. Various governments in the region, e.g. Hong Kong and Australia, are earmarking substantial amounts to build out accelerators and innovation hubs. Meanwhile, Asia-Pacific’s longstanding roots as a manufacturing hotbed have caused the region to witness the rollout of IoT firsthand in its production lines and factories, showcasing efficiencies and vertical integrations.
The confluence of various technologies such as artificial intelligence (AI), 5G networks, blockchain and billions of internet of things (IoT) devices is creating the perfect storm that can totally change the daily lives of people all over the world. Many of these technologies are being packaged together into applications that focus on different areas of daily life such as home, work, healthcare and more. “Smart city” is the umbrella term that’s often used to describe a set of applications that focus on ways to make our cities safer, more environmentally friendly and sustainable, and more efficient with respect to transportation. But what is a smart city?
The same characteristics that make blockchain essential for cryptocurrencies are what make it so valuable for the IoT. Blockchain gives users confidence that sensitive and valuable data can fly around global networks and remain completely safe and unalterable. Blockchain enables trust. And it can be more efficient with interconnection.
What does it mean to be connected? Is it your Smartphone in your hand? An augmented reality helmet on your head? Or the wireless sensors that surround us everywhere we go? We now have multiple ways to be plugged into both the physical and virtual worlds. But would it surprise you to know that today’s businesses that bring you the Internet of Things (IoT) technologies and those connected products, could be more connected to you as a consumer? Or to the IoT and digital supply chain partners that enable them to develop and distribute those connected devices on a worldwide basis?
Data from multiple sources and various associated data services/applications all need to come together in real-time. As a result of orchestration, data policies and service levels can be better defined through automated workflows, provisioning, and change management. Critical data management processes can also be automated, including data creation, cleansing, enrichment and propagation across systems.
Now that companies are getting a better handle on extracting value from mountains of customer data for their own business operations and marketing purposes, they are taking the next steps in learning how to capitalize on that very same data as a resalable asset. According to Accenture, “…payment providers have a treasure trove of customer data at their fingertips,” and to monetize that data will require that they take “advantage of distinctive data sets and apply advanced analytics techniques” from multiple sources.
Trying to predict how many Internet of Things (IoT) devices will go online over the next decade is like trying to predict the growth rate of rabbits in the wild. It suffices to say that 2017 could be the year in which IoT devices exceed the total human population, based on a Gartner forecast of 8.4 billion IoT connected devices, or one device for each of the 7.5 billion people, plus just under a billion more to spare.
Like all industry sectors, retail is undergoing a dramatic transformation. It started years ago with the emergence of what we then called e-commerce, and the trend is now accelerating with massive disruption in the way consumers are shopping. It’s requiring traditional retailers to adapt to digital and pure internet players to connect with physical stores.
The forces compelling digital businesses to place more of their data at the edge are real, however, the transition requires careful design. The perception is that moving large datasets out to the edge can create management and accountability problems that would not occur if the data were managed centrally.
Enterprise security has become infinitely more difficult to achieve. Cybercrime is growing at the same pace and sophistication as evolving technologies within digital business, including those undisclosed computer-software (“Zero-day”) vulnerabilities in systems, applications, data and networks that hackers love to exploit.