How Will IOT Benefit Organizations In The Coming Years?

Apac CIOOutlook | Monday, May 04, 2020

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Internet of Things (IoT) has permeated all walks of the digital life—from smart homes and factories to wearables and smart supply chains. Connecting objects with the IoT is just one thing, the true potential of IoT is to realize when sensors, networks, and platforms are designed to come together to discuss and correlate with delivering connected operations and experiences.

The convergence of digital technologies like AI, 5G, and IoT amongst many others will help the enterprises to arrive at a futuristic world where the systems and devices are not just integrated, but arranged to priest the superior end-user experiences. The future will be all about a seamlessly connected world, with limitless possibilities.

It's amusing to even imagine that the IoT didn't exist a decade ago, but today the enterprises are able to completely transformation because of it. Whether it is the changing customer demands or the need for staying connected, the tipping point of IoT is finally here. Implementing IoT solutions will play a major role in business applications completely across industries and societies. The IoT edge is close than ever before. At the same time, the top tech organizations around the world are on board with it. Enterprises of all sizes are still struggling and trying to find a middle ground between the market chaos.

The vision of an IoT world will come alive with 5G, and there will witness a change from Wi-Fi to Long Term Evolution (LTE) to 5G hotspots and then to full-blown 5G. Having benefits like the increased bandwidth and lower latency, 5G will enable real-time monitoring, quality improvement, and logistics with mobile edge computing in smart factories.

IoT will retrieve information about a patient before the actual treatment procedures. Taking a second opinion, or about ensuring safety through real-time process monitoring in the mining industry, IoT will unleash a new wave of intelligent discovery, operational efficiency, and accuracy in businesses across industries.