Every year IoT brings new things to biotechnology, manufacturing, home living and every aspect of our daily lives. We’ve seen it disrupt traditional industries, transform our cities and contribute to the autonomous transport of the future.
It sits in an ecosystem where machine learning, AI and data analytics help us understand our world more than ever before. At the beginning of each year, it’s tempting to make expansive predictions for the 12 months ahead.
This year we decided to do something different and asked some of those working across our IoT verticals. Here’s what they told us, exclusive to ReadWrite:
1. Smart tech will transform how we shop
“Smart tech will quickly become the backbone of retail, although it may be in ways the customer doesn’t always see. While there will invariably be beautiful, innovative experiences that involve products and fixtures with instrumentation that make the store “come alive” around the shopper in a highly visible and explicit way, the real revolution on the horizon is around “implicit” smart technology. The instrumentation in the stores that constantly assess products, people, and productivity and directs staff on how to optimize the store so the customer finds less and less friction in their shopping journey. Things like high-fidelity IR arrays and UHF RFID will quickly prove data in physical stores is far better than online… once smart tech is at the helm.”
-Healey Cypher, Cofounder and CEO, OakLabs
2. IoT and wearables create a higher level of personalization
“Wearables are poised to become important participants in the Internet of Things, interacting seamlessly with other screens and devices and creating ever-more personalized experiences for their owners. Imagine a scenario in which someone with a wearable device goes to their local gym, and can log onto a treadmill that has stored their content preferences- -including the fact that they like to watch the news in the morning and their favorite OTT series in the evening. That’s is a level of personalization that may be just around the corner!”
-Kevin Westcott, media and entertainment sector leader, Deloitte
3. Consumer-facing industries will be changed by IoT
“In 2017, the IoT and connectivity will continue to drive a fundamental shift in the way consumer-facing industries engage with their customers. Data from devices will continue to drive a shift in focus from manufacturing for margin as consumer interest in connected devices, apps, and services increases. This will be a game changer for some traditional consumer industries, in particular, retail and insurance.
In retail, Amazon will continue to drive disruption with Alexa spearheading their entry into the consumer IoT. Traditional retailers will see pressure grow on their revenues and we will see them invest more in a shift from products into services to compete against Amazon and new entrants.
Similarly, insurance companies will start to invest more in a move to adapt to the IoT. The IoT is going to generate data that will fundamentally redefine the way they can calculate and mitigate risk. This year will be critical for them as they work to embrace the IoT with early consumer offerings in an effort to avoid the fate of retailers who ignored the internet and allowed Amazon to get a foothold in their market.”
Kevin Meagher, SVP for ROC-Connect
4. IoT gets accountable
“The focus will be on the operationalization of IoT – how to monitor, manage and secure the IoT infrastructure.2
Pilots and concepts have to be operationalized. By the end of the year, vendors will be under pressure to show profitable revenue streams. It is time to move from talk to action.
Mainstream IT will be forced to get involved with IoT programs to provide assurance and scalability. CIOs will have to either learn about operational technology (manufacturing execution systems, SCADA, building management systems, Robotics, etc.) or hire leaders with hands-on domain knowledge.2
Boards, and especially audit committees, will ask about safety and security as it relates to IoT.
New business models based on Things-as-a-Service will evolve.”