IoT is trending. Companies invest in new tech...
It comes as no surprise that IoT is widely regarded as the cornerstone of successful Digital Transformation.
Although the Internet of Things’ potential economic impact could reach $4-11 trillion by 2025, the majority of enterprise IoT initiatives are still at the data acquisition or Proof of Concept (PoC) stages, which means companies see little to no ROI in their Internet of Things development investments.Previously restricted by the lack of skilled programmers and seemingly high implementation costs, today the Internet of Things’ adoption is challenged by three major factors: the growing security concerns, unclear standards of user to device mapping and data deluge.
What Steps Should Be Taken to Streamline Business IoT projects?
- The surge in IoT-triggered DDoS attacks stemming from device manufacturers’ failure to simplify firmware updates, as well as employee security negligence, will force companies to adopt the “continuous update” strategy and improve IoT security at the hardware level.
- In his recent interview to Clutch.co, Pavel Shylenok, CTO at R-Style Lab, admitted to not using any “smart features” of his smart TV because of complex configuration. While the integration with voice assistants can significantly improve IoT user experience, device manufactures and IoT software developers should create a consistent device-agnostic UX strategy and enhance connected systems’ cognitive capabilities at the infrastructure level to enable autonomous decision-making and minimize human-to-computer interactions.
- With less than 1% of IoT data analyzed and acted upon, businesses need powerful Artificial Intelligence-based data processing solutions to transform sensor readings into meaningful insights — and here’s where cloud-based analytics tools and pre-trained AI models come in useful.