“One thing that’s clear is its massive impact on society, and obviously the effect it has on companies, business models, the way we work, and the way we lead and manage people.”
Rainer Kallenbach, CEO Bosch Software Innovations
Things are merging with the digital world
The physical essence of the Internet of Things (IoT) is billions of connected devices providing data – in many cases in real-time – and sending it back to businesses that can remotely and automatically control this physical infrastructure.
The magic quality of the IoT is the connected world it makes possible: a world that’s getting bigger as the technologies linking devices become smaller, cheaper and faster.
Much more than a technological transformation, the IoT is creating new types of businesses, centred around services and user experience. These will have a massive impact on the structure of our organizations and the way we work together. While these changes will only happen in small steps, they will come quickly and have a huge and lasting effect.
devices will be connected to the internet by 2020, the analyst firm Machina Research predicts.
Top IoT benefits at a glance
- Make lives of customers, citizens, or employees safer, easier and more comfortable
- Generate value through new business models and revenue streams
- Improve the way of running a business through streamlining and automating processes