ISME Magazine -Issue 39 webview (1)

The Changing Face of IoT
The IoT business processes we know today mostly occur either in on-premises
data centre or on cloud. Further developments in this process will give rise to
businesses that deploy processes that require a local data analysis connected to
devices that enable this process.
We are in the last
month of 2017
business year. This
year has seen a lot
of innovations, transformations
and developments in the
business world. Internet-of-Things
ranked as one of the highest
influencers in businesses and
have contributed effectively to
re-shape the world as we know
it. It has touched every aspect
of our world and plans on going
even further. Internet-of-Things is
here to stay and keep evolving the
world around us. As we wrap this
business year let’s take a look at
the possibilities that will open up
for IoT in the coming year based
on the developments that it has
seen till date.
Voice-Based Services for
Consumers:
Looking at how voice based
services influenced businesses
this year it is likely that it will
grow in the year 2018. The
already available services
will double in the coming
year. The financial or other
industrial services that require
authentication for tasks will
be seen to lag behind in this
context.
Commercialising IoT
Data:
Countries who understands
the benefit of IoT has already
started to commercialise IoT
data. However not every country
has adopted this process giving
rise to an extreme polarity
when it comes to assessing the
percentage of commercialised
IoT data globally. The
enterprises that are lagging
behind would naturally want to
keep pace with the others. This
in turn might lead to the European
Commission to issue guidelines
that would make people want to
use advanced technology. This
step will work to spark the IoT
economy.
Exploring IoT
Opportunity:
The intelligent agents like
Amazon’s Alexa or for that matter
Google Assistant hasW already set
a benchmark of a business world
driven by advanced technology.
This is just the basis of what’s to
come. In 2018, more and more
businesses will explore ways of
interacting with customers. The
trend of giving out more intimate
brand experience will be on the
rise. It is possible that businesses
will use mobile moment strategy
and start to include new interfaces
with the help of smart home
speakers etc.
A Rise in Deployment of
Edge Solutions:
The IoT business processes we
know today mostly occur either
in on-premises data centre or on
cloud. Further developments in this
process will give rise to businesses
that deploy processes that require
a local data analysis connected to
devices that enable this process.
The advantage of this technology
or the edge IoT devices as they are
known is that they can
Act locally on data that it
generates
Resort to Cloud for essential
features like Security, Configuration,
Scalability, deployment and
management
Exiting IaaS Business:
Ever since the emergence of IoT
it has caught up with businesses
globally very fast. The year 2017 has
seen that many companies mostly
the giant corporations have started
to focus on making their IoT specific
capabilities available to consumers
through cloud providers. These
hyper scale providers tends to break
through geographical boundaries
and acquire evidence for strict
regulatory environments. This will
help them strengthen their own IoT
capabilities. This trend will only be
on the rise in the future.
IoT in Design and
Operation:
There are product designers
who build IoT into products and
experiences. One can see an
increasing need among these
designers to develop capabilities for
remote product management and
control. These designers or any IoT
business operator feels a need to
develop an orchestration software
that would help them to integrate
their diverse IoT business assets
into one cohesive whole. This
would then help them to focus on
doing business smoothly rather
than manually while managing
every minute IoT part. Given this
situation it is possible that IoT
platform built to cater to certain
professional needs will emerge in
the future.
Precipitation of IoT
Platform:
One of the major drawback of
IoT is the high data ingestion
cost and network latency. An
increasing number of enterprises
are therefore pushing the
processing of data to the edge
of the network. Given this trend,
IoT platform will need to evolve
and go beyond having services
only at the core of a network. This
need to support both edge and
core networks with programming
and an analytical model will give
rise to an increased expense.
This expense in turn will make
IoTs reduce their ambition.
Popularity of Device
Integration via Public
Cloud:
With the evolution of the usage
of IoT developers would demand
for –
a. Low Adoption Costs
b. Quick Deployment for
Prototyping
c. Global Reach
d. Easy Integration for Record
and Engagement Systems
e. Low Maintenance
These new needs will result in
an increased adoption of IoT
platforms from public cloud
providers.
IoT and Cyberattacks:
The security system of IoT is still
developing. It leaves a lot of data
exposed for cyber-attacks. The
pace of security measures is still
lower than that of the adoption of
the IoT platform by consumers.
This will result in serious cyberattacks
in the future unless of
course security measures are
deployed at place.
A Rise in Block-chain
based IoT Adoption:
This year has seen promising
projects that revolve around a
development in the Blockchain
Technology. A maturation of
these two technologies namely
Blockchain and IoT if it happens
this year will see the business
world adopt Blockchain
Technology completely in the
future.
This had been an interesting
business year. The technological
developments that made itself
manifest has already laid the
foundation of more interesting
business years to come. The
world of business has changed
in the last few years. The coming
year will only boost the changes
in an already changing business
world. Keep yourself up to date
and in sync with the possible
ventures that might touch your
company. IoT and Blockchain
technology has revolutionised
the way the business world
works. It is important for people
in business to be aware of the
minutest development in these
technologies. The year 2018 will
see even more developments in
the way we understand business
technology. It is best to keep your
business ready.
48 Intelligent SME December 2017
IOT
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