Everyone is talking about the Internet of Thing (IoT) – and rightly so as it is on the rise and part of digital transformation across all sectors. However, we are only seeing the tip of what is a greater hyperconnected machine, below the surface; and while many of us are already riding the waves of this burgeoning hyperconnected era, it is important to remember that IoT is not just about ‘things’ or ‘machines,’ but a balance between people and processes.
At last week’s Wearable Technology show in London, the biggest of its kind in Europe so far, everyone was talking about wearables (of course) but the wider topic of the IoT was never far behind.
To corroborate this, let me share some fascinating statistics: Fujitsu predicts that there will be over 50 billion connected devices by 2020 (Source: Fujitsu Technology and Service Vision 2015), which means almost seven devices per human! Furthermore, a study conducted by market research firm IDC in 2014 found that by 2020, the total data generated will exceed 44 zettabytes: When you think about the financial impact this will have, McKinsey Global Institute estimates 11 trillion a year by 2025 (Source: McKinsey Global Institute “The Internet of Things: Mapping the Value Beyond the Hype” – June 2015).
IoT is bigger than we can imagine, yet the fundamentals are to ensure that your people and processes are in place. We must remember that innovation starts with people and this is where ideas grow from, which is why we take our motto Human Centric Innovation in Action very seriously. From there we can create and manage Business Innovation for the transformative enterprise and Social Innovation for improving public services.
So what drives IoT? A demand for increase productivity, time to market and process automation coupled with improved human experience are the main contributors to developing the premise of IoT. IoT does not just ‘happen’ – the foundations must be in place for it to work and with the lowering costs to manufacture devices and sensors as well as increased capabilities for maximizing online storage through private and hybrid (cloud) infrastructures, industries can get ‘smarter’ and more fruitful with their services/products.
For example, Human Centric Innovation in Action can be seen with enterprise wearables for field service workers (such as telecommunication employees). Enterprise wearables will surpass that of lifestyle wearables in the next five years – reaching $6.3bn in demand. At Fujitsu, we are leading the foray with our hyperconnected van and Ubiquitousware which enables both workers and the company they work for to become more efficient, effective and productive. An example of this can be seen by CNET journalist Richard Trenholm at Mobile World Congress this year who had an immersive experience of what enterprise wearables and the hyperconnected van can achieve under the premise of IoT.
Another example of IoT is Social Innovation in action from Smart Agriculture: Fujitsu’s Daisy the Cow demonstrates how wearing a wearable band helps dairy farmers know when she is in heat, as well as producing more than 200 MB of data a year that is essential to better understanding and analyzing bovine fertility. IN another example, manufacturers in the industrial sector predict that IoT initiatives will increase revenue by 27.1 percent over the next three years while smart cities will drive 25 per cent of government spending on IoT.
It is clear to see that people and processes are driving IoT and we must remember to keep this balanced innovation in order to successfully adapt to the hyperconnected era. Even with success stories under our belt, we are constantly striving to develop prototypes into scalable platforms to realize the vision of our customers.
For more information on Fujitsu’s drive to Digital Transformation, please click here.