There is one thing that many consider as the backbone of a smart city and we should discuss first – the Internet of Things (IoT). It refers to a huge network of things which are connected to the internet. Along with the wide availability of high-speed internet access and the growing number of Wi-Fi-enabled devices and sensors, IoT technology has become increasingly sophisticated, allowing connected things not only to link to the internet but also talk to each other.
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.
The dynamic and interactive characteristics of these technologies demand more elasticity than today’s legacy backbone networks can deliver, as well as more flexible, agile and cost-effective low-latency and high-bandwidth connections to handle the digital deluge. In fact, the Global Interconnection Index predicts that by 2020, digital business will require over 5,000 terabits of Interconnection Bandwidth capacity to privately exchange data between businesses, outpacing the overall global growth of IP traffic, the internet and MPLS networks.
The recent rise of artificial intelligence (AI)/machine learning (ML) in the cloud — and related capabilities such as predictive analytics — has started to push DevOps organizations to explore the implementation of a new data analysis model that relies on mathematical algorithms.
Data exchanges are where IoT-generated data sets are combined and then refined through data analytics, and all this information takes on real value. These exchanges are places where organizations partner to identify patterns and draw conclusions about the information or see ways they can monetize the data.
Together, telematics and IoT technologies are changing the entire landscape of the commercial transportation industry, as well as every industry that is reliant on its vehicles to do business.
AI, VR/AR and IoT all have something else in common besides their recently accelerated development– they all have the same set of dependencies: Each requires relatively sophisticated devices, excellent network connectivity and robust cloud infrastructures. And none of it works as well as it should without interconnection.
The digital manufacturing revolution is being powered by advancements such as smart manufacturing, robotics, artificial intelligence, automation and the Internet of Things (IoT). In fact, the World Economic Forum expects manufacturers to invest $267 billion in the IoT by 2020.
This year’s Pacific Telecommunications Council’s (PTC) 40th anniversary theme, “Connecting Worlds,” spoke to the global nature of communications that is launching a new decade of connections in our industry. And I’m not just talking about the physical and virtual connections that carry the massive amounts of data being transported all over the world, but the interconnection between service providers and their customers that enable private data exchange, which is essential for global digital business to flourish in the decades to come.
The insurance industry is well-known for its conservative nature, but that’s a characteristic that’s now having to evolve as the industry faces the digital age. For these reasons, trending tech topics such as artificial intelligence (AI), IoT and blockchain are rapidly becoming hot topics in these most traditional of boardrooms.