Today, there are more mobile devices than there are people on the planet. By 2020 it is estimated that there will be 2.5 billion connected people on social networks, they will be using or have access to 50 billion connected things. This “hyper-connectivity”
will help to drive $65 trillion in global trade.
We have seen this begin to materialize over the past few years and have seen significant changes in how people and business connect. The internet has moved from a “push” network of 90’s, to one that provides peer-to-peer connections and real-time information today. This is highlighted in the hyper growth of social networks such as Twitter, Facebook, Tumblr, and LinkedIn in to name but a few.
With this in mind, I recently wrote a blog that posed the question “Are You Ready for the Internet of Everything?” where I discussed how the Internet of Things is effecting and (hopefully) improving our everyday lives (Check out How the Internet of things is raising your IQ). We have:
What about the Internet of Things for your business?
Not to be outdone business today is evolving into a Networked Economy, with millions of companies connecting their supplier, customer and partners to seamlessly engage in commerce and leveraging technologies that can connect 100’s of millions of
people and things together.
But this is just the beginning, and the internet of things is the catalyst for hyper-connectivity in the business world. With the Internet of Things, we can monitor, analyze, and automate in ways that will greatly improve processes and create new business models by linking processes to cyber-physical systems.
Connect, Transform and Reimagine your business
So what are companies doing to leverage the internet of things? How can you turn all of this information into business value and improve the bottom line? How do you leverage the internet of things for your business?
I see it as a 3 step process:
Where are the opportunities?
As I look around businesses, there are many areas which will benefit from the Internet of Things. Here are a few examples:
The Internet of Things is here and has endless opportunities from both a personal and business perspective.
Let me know where you think the Internet of Things will be used in your business.
Follow me on twitter @howellsrichard
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