The Internet of Things is transforming how we work and live in more ways than many of us could have imagined. Connecting things with unique IP addresses has been possible for over a decade, but the commoditization of sensors and processors and emerging technologies that further enable IoT possibilities are making it viable to move beyond being just connected, into an intelligent Internet of Things. We’re seeing a myriad of enterprises come up with new ways to leverage the IoT to drive business advantage. Almost every industry is either actively using IoT technologies to innovate or considering how to quickly start reaping the outcomes of IoT solutions.
Enterprises Are Driving IoT Transformation
The Internet of Things transformation is being driven by enterprises. Consumer products such as wearables and connected electronics certainly garner a large part of the market, but IDC estimates more than 80 percent of IoT spend through 2020 will be on B2B applications and use cases. The Internet of Things will be one of the primary drivers of the digital transformation that enterprises will undergo in the coming years, creating a self-learning environment that will drive digital disruption in the physical world. IoT will be a critical piece of this transformation as it allows new business models to emerge and enables changes in work processes, productivity improvements, cost containment, and enhanced customer experiences.
We work with thousands of clients around the world and are seeing consistent patterns in how businesses are taking advantage of these changes. The three key ways we see enterprises harness the IoT is through:
- Improving operations
- Transforming business models
- Deepening client engagements
Cognitive IoT, AI, and machine learning are further enabling enterprises to unlock IoT value. An exploding amount of IoT data requires a new approach to gather, analyze, and makes sense out of all that data. Such a massive amount of information from sensors and devices can be used to enhance existing data and knowledge, uncovering insights capable of transforming industries. But although making sense out of dark data and edge data is paving our way to revolutionary ideas and technologies, it requires a new approach.
Cognitive IoT: Keeping Pace With Complexity
Cognitive IoT is just such an approach — a way of deciphering IoT data that can effectively handle increasingly large inputs while generating meaningful output. Programmable systems thrive on prescribed scenarios using predictable data, and their rigidity can limit their usefulness when addressing the ambiguity and uncertainty of IoT data. Cognitive systems, however, are not explicitly programmed. Rather, they learn from interactions with people and from experiences with their environment. In doing so, they become able to keep pace with the complexity of the Internet of things, identifying data correlations that would otherwise go unnoticed.
We’re already seeing enterprises around the world take advantage of cognitive IoT. Here are a few great examples of clients and partners we are working with to realize the vision of the new IoT.
- ISS, a global leader in facilities management is tapping the IoT to transform the work environment.
- Aerialtronics has created the first commercial drones featuring cognitive computing capabilities.
- Local Motors, has created the world’s first cognitive self-driving vehicle.
- North Star Bluescope Steel developed a cognitive IoT platform that taps into wearable safety technology to help employees stay safer in dangerous environments
- Cisco and IBM are enabling a hybrid approach to IoT analytics at the network edge or in the cloud through IBM’s Watson IoT Platform.
I recently covered these ideas and more at IoT Grand Slam. I invite you to watch the replay of my session driving exceptional outcomes with the Internet of Things for a more in-depth look into how enterprises harnessing the IoT.