September 20178 The world transitioned significantly during the first 20-years of the internet. A uniquely new transition took hold in 2015. This was a transition into the digital economic era which has taken over the world's growth mantle. In this new era, national economies are being commoditized and traditional markets are being disrupted. This era is being driven by possibilities from innovative digital technologies. While there is commoditization and disruption, there is also a significant upside in new markets, new wealth, and new levels of social wellbeing. Nations and businesses, which take advantage of the transition, will benefit the most. A race of nations is already underway to implement Industry 4.0. Industry 4.0 utilizes automated robotic production and integrated logistics to modernize manufacturing for mass customization, consistent quality, and competitive unit cost structures.Internet of Things (IoT) terminology encapsulates Industry 4.0 but more broadly the concept of digital automation. Key principle behind IoT is the collection of measurement data and then use of advanced data analytics to augment decision making. IoT is not new and has been used by industry for decades to manage output quality and production. The difference now is that IoT can cost-effectively scale to benefit all of humanity and not just some sectoral industries. This scale is unprecedented in world history, enabled by discrete technologies which have emerged and converged over the last 10 years. These are device, network, and cloud processing technologies. Smart sensor devices have been miniaturized and can be easily deployed with batteries that might last up to 10 years. Networks can connect tens of billions of devices, each with a defined service type. Cloud in my viewBY WARREN LEMMENS, CTO, OCEANIA REGION, NOKIAInternet of ThingsWarren Lemmens
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