“To accommodate the development and support of smart devices, companies will need to update existing IT architectures and operating models,” say Johannes Deichmann, Matthias Roggendorf, and Dominik Wee, authors of ‘Preparing IT systems and organizations for the Internet of Things’ article for McKinsey Company.
Once again, Internet of Things is taking over not only personal belongings, homes, offices, and so on, but is also starting to become a real key factor in the future of companies’ existing IT architectures and operating systems.
All companies that strive to become more and more successful in an emerging world that lives on technology and innovation, pay a lot of attention on how to keep up not only with every new technology that becomes a trend, but also benefit from great ideas, innovations, and any new technology that if implemented as soon as possible will take their business further and achieve great successes.
The Internet of Things, is the new technology of the moment, and while companies and organizations are still trying to figure out how to implement it in their business as effectively as possible, their existing IT architectures and operations need to be updated.
“According to a recent McKinsey Global Institute report, the networking efficiencies and opportunities created by the Internet of Things may have a global economic impact of as much as $11 trillion per year by 2025 across multiple sectors. The report also suggests that, although consumer applications seem to be on the leading edge of adoption, nearly 70 percent of the projected economic value will eventually come from the use of sensor technology and swarm intelligence among B2B users,” according to the article.
Companies and organisations have a lot to earn for implementing IoT but a considerable amount of uncertainty and “fear” of becoming a victim of security theft still exists.
“The opportunity is huge, but there is a lot of uncertainty for companies, as there is with any emerging trend. Questions remain about how to accurately assess the business opportunities in the Internet of Things, how to build a technology stack to support current and future Internet of Things applications and devices, and whether companies should invest in open or proprietary technologies.”
In an article we wrote a few days ago entitled IoT - The devil and the angel rolled into one, we mentioned how IoT can be both improving a company and exposing it to security theft including data profiling and illegal monitoring.
Nevertheless, based on a survey of 779 senior business leaders from 19 different industries around the world, a report by The Economist concluded that 75% of businesses are already using and exploring the field of the Internet of Things. According to technology market intelligence company ABI Research, there are more than 10 billion wirelessly connected devices in the market today and that number is expected to reach 30 billion wirelessly connected devices by 2020.
You can read the full article on Preparing IT systems and organizations for the Internet of Things here.
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