How often have we heard someone say the sentence, ‘the world is becoming smaller everyday’? There is a lot of truth to the statement given how internet has been able to connect different parts of the world into a single unified entity.
The proliferation and brilliance of search engines and social media means that you can connect with, get access from, and secure information from any entity placed in any part of the globe. The use of technology and advancements in software also mean that the connectedness is now extending from people and platforms to amongst devices themselves.
What is Internet of Things (IoT) and how is shaping our future?
IoT can be defined as rapid advancements in data transmission and network technologies, which enable smart devices to transmit data among them and produce an output for the user.
For example, smart automobiles can be turned on from an app on your smart phone. Through IoT, you can command the car to turn on the air conditioner, so that your car is cool and comfortable by the time you reach there. This is just one of the many examples, which can be given to present an effective demonstration of IoT.
For businesses, this presents a unique opportunity to make human lives easier and their products smarter. Imagine tech companies, who manufacture everything from laptops, smart watches, cell phones, tablets, security systems and ten other different things.
In a world dominated by IoT, you could link and synchronize all your tech products and devices and allow them to share information between themselves to make life convenient and easier.
5 major ways IoT is going to impact businesses in 2020: The List
- Brands would have to improve networking and communications-
Having access to the right network and working with the best communications solutions providers like ipx definitely comes with its own sets of benefits. You can say that without the right networks, an IoT enabled product and service line can fall flat on its face. This is why brands who are looking to tap into IoT, are working hard to set up networking and communications in the best manner possible.
- Creating Product Lines in an interconnected manner-
Any business looking to tap into the IoT cannot expect to do so with just one product. This is why brands are looking to create multiple product lines and create an interconnected experience between them. You will notice how some brands have been very fast in launching new products and creating their line of smart home appliances and products. They know that in order to get the most out of IoT, they would need to create a complete line of products.
- Brands would need to improve Tech Support and Customer Experiences-
IoT places the customer left, right and centre of any experience. Brands create smart products with the aim of making the lives of customers easier. If the same is too complicated, then the customer is not going to use it. This is why brands are investing heavily in tech support, helping customers to use the product efficiently. Brands who have aced the customer experience in IoT are the ones who are capturing the market share.
- Giving rise to the use of Data and Artificial Intelligence-
If there are three things, which major brands and businesses are concentrating on in 2020, it is IoT, AI and Big Data Management. In many ways, these technologies are connected and applicable in creating a streamlined structure for product development. This is not only great for promoting a comprehensive user experience, but also well for brands, looking to optimize organizations with data usage.
Whether businesses like it or not, they will have to adopt to the changing reality of doing business. Small brands think Internet of Things (IoT) are too complicated and require heavy investments. However, in reality, they do not require major investments, thanks to the emergence of nifty startups.