Enabling a Connected and Smarter World
The Internet of Things (IoT) has rapidly become one of the most familiar — and perhaps, most hyped — expressions across business and technology. That hype, however, is entirely justified and is backed by the numbers.
We expect to see 25 billion Internet-connected things by 2020, and close to $2 trillion of economic benefit globally. These things are not general-purpose devices, such as smartphones and PCs, but dedicated objects, such as vending machines, jet engines, connected soap dispensers and a myriad of other examples.
The way that the IoT is leveraged by enterprises varies substantially by industry. Retailers are incorporating RFID tags within their anti-theft tags to help manage inventory and help keep costs down. Within mining, some companies are using IoT to expand on “driverless trucks” or the autonomous haul trucks that can work round the clock, have lower costs, increased output, and reduced maintenance. Enterprises need to understand how IoT can enable the transformation of their business and industry.