IoT is driving digital transformation. It could soon be as commonplace as electricity in the everyday lives of people in OECD countries. As such, it will play a fundamental role in economic and social development in ways that would have been challenging to predict as recently as two or three decades ago.
The incorporation of the IoT into people’s lives will require evaluating implications for their safety and privacy, including the security of their personal information and the development of appropriate safeguards. Appropriate legal privacy and consumer protection frameworks will be fundamental enablers of acceptance and trust.
“IoT has the power to create new revenue streams, cut costs and increase productivity by redesigning operations and simplifying processes” says Thierry Evangelista, global portfolio and roadmap director, Orange Business Services.
The majority of organizations have taken active steps to make their businesses digital and already have IoT on their roadmaps. But they need to become more agile and faster, maintains Peter Sondergaard, senior vice president and global head of research at Gartner. “This is a year in which we really need to take all the digital initiatives and pilots, and drive them into the mainstream of the business. We need to get off our horse of just piloting, and we have to get into the real stuff,” he says.
Companies are all too aware they need to put their digital roadmaps into action. But where do you start when you have no experience in creating a connected device and providing connected services? Digital transformation can’t happen without the components to make it work.
Building a connected device in an unchartered market is not an easy task. The set of technologies and how they will work together may not be clear. It is essential that you prototype your product and test it before you get to the proof of concept stage.
The IoT market opens up enormous opportunities for enterprises, but it is paramount that a detailed development strategy, including prototyping, is carried out before launching an IoT deployment.
Planning and feedback at every level of the development cycle puts you in the best possible position to succeed in this fast-emerging marketplace that is quite literally joining up societies.