The Internet of Things was recently big news, thanks to the unprecedented rise in Internet adoption and data usage around the world. The US government confirmed that they would issue a green paper on this rising phenomenon. There’s no doubt that this has the potential to change life as we know it. Companies have already begun providing on-demand services, so now you can maintain your home without the need to get off your sofa.
But there’s a dark side to the Internet of Things. A lot of people believe in the power this technology can bring, but experts are advising caution. It could be making society vulnerable.
The Vulnerability in the System
It should come as no surprise that the numbers of cyber-attacks are rising. As more and more of our ordinary services move into the online world, it’s only natural that hackers will follow. The good thing is that most people are not linked together. They are not connected.
The Internet of Things would change that because the point of it is that everything is connected via the Internet. Every function in your home is connected to the online world.
It would lead to huge holes in defense, and that is one of the reasons why the government is so worried about defense.
These vulnerabilities are a major barrier to mass adoption. And they will need to be overcome before the Internet of Things is allowed to roll out.
The Impact on the Economy
Like with all technological advancements, there are concerns regarding its impact on the economy. The US economy is filled with unskilled roles filled by millions of people. Some skilled positions also have the potential to be entirely replaced by this new development.
The Internet of Things could make truck drivers and burger flippers a thing of the past. In theory, this is a good thing because it represents a major step forward. The problem is that these people are going to be out of a job and they are going to have nowhere to go.
The US government has to act carefully or this saving grace could turn into their worst nightmare. Companies like StarOfService are already making adjustments to their business models to compensate. The CEO of the company said, “We have converted our French business model for the purposes of adapting it to other countries, while taking into account issues like the Internet of Things.”
But It Could Change Business for the Better
The two main threats presented by the Internet of Things are the risk of hacking and the risk of major job loss. But it could change business for the better. The Internet of Things can be secured individually, and there’s no reason why much of it cannot be cornered off if a hacker does manage to make their way inside.
Ordinary devices have the potential to vastly improve the customer experience. Think about the humble shop window as an example.
You used to look through the window and see whatever item was available. But now that has changed because with this new technology you can look through the window and see whatever you want to see. Based on your shopping preferences, you can see items that are relevant to you.
Such functionality could provide customers with a better experience and alter the way businesses do things.
How Business Should Prepare for the Internet of Things
Successful brands are innovating to take advantage of this new technology. The Internet of Things is set to make the shopping experience far more convenient.
For now, businesses need to be simply aware of this new technology and what it’s capable of. Later on, you may want to begin limited experiments within your company. Gather feedback and see how you can integrate this brand new retail experience.
Businesses should also consider how ordinary devices, such as Internet-enabled thermostats, are protected in the work environment. Invest in an independent security audit to ensure there are no holes in your defenses.
The Internet of Things is going to change the way the world works. But for now, it’s something you just need to be aware of. You need to prepare for the coming of it and you may need to completely change the way you do business. It may be a hassle, but by preparing now you are not going to be surprised when it eventually breaks into the mainstream.
What are your views on the Internet of Things?