The Internet of Things (IoT) is a disruptive technology that is changing the way physical things interact with each other. The rich data collected by these interconnected devices have allowed digital companies to transform their products and services. The new generation of IoT systems is built with inherent embedded intelligence, connectivity, and data processing capabilities that have the power to perform real-time analysis for edge devices. The next-generation IoT is moving away from centralized cloud computing solutions to distributed intelligent edge computing solutions. The advantage of intelligent edge computing is that computations take place at the edge of the network which allows real-time and ultra-fast data analytics processing. The deviation to edge computing systems has also enabled enhanced privacy of user privacy because no personal information is stored in traditional centralized cloud servers as the collection, processing, and storage of data happens at the edge of the network in a distributed manner.
Next-generation IoT not only has the potential to enrich our daily lives but also the ability to reduce the digital divide. It will have a massive impact on the future digital landscape especially in spheres of privacy and security management. The ever-growing number of interconnected devices and increasing dependency on AI will definitely complicate security issues and open up systems to vulnerability. The next-generation IoT combines emerging technologies such as AI, DLTs, end-to-end distributed systems, distributed edge computing, robotics, etc in its design and deployment, which require vigilant human intervention to prioritize and safeguard ethical considerations.
Attributes of the next generation IoT
IoT advancements are characterised by the 6 A’s. These A’s represent:
- Anything= Any device
- Anyone= Any person
- Any place= Anywhere
- Any time= Any context
- Any network= Any path between sender and recipient
- Any service= Any business
The entire IoT ecosystem is built on the interconnected elements called the 6 C’s. They represent:
- Collect= Hyper-Connected devices that collect real-time data
- Connected= Network of heterogeneous devices where connections form the fundamental basis of IoT
- Cache= Stored information and data in the distributed IoT processing systems
- Compute= Ultra-fast processing and computation of data and information
- Cognise= Information processing, data insights, data extraction, and real-time AI processing
- Create= Creation of new connections, services, business models, and digital solutions.
The opportunities in next-generation IoT
In the context of business, IoT is bringing about digital transformation for organizations through the integration of NGI technology (Next Generation Internet technology) which creates a global network of physical devices with control, sensing, actuating, and computing capabilities. The superior abilities of NGI technologies are being used to make buildings and cities smarter, and our lives easier. We are surrounded by devices with embedded systems like sensors that measure light, heat, humidity, temperature, and sound in our homes and offices, and communicate with each other to create the most comfortable environment for humans, all with little to no human interference. The complex logic behind these innovative technologies offer creative solutions on how to collect, store, and process vast amounts of information and how to take necessary steps. Technologies like swarm logic and AI are enabling devices to mimic human-like behavior.
Security is another sector that faces huge implications due to the advent of IoT. Advancements in visualization techniques are helping firms and governments to better stimulate and anticipate security threats. The timely transfer of information, identification of impending threats, isolation protocols, and traceability is important part of the security landscape. The security strategies are evolving alongside the IoT ecosystems, which cyber-attacks are growing more diverse, whether it be software, hardware, or physical tampering of systems.
The 5G implementation in developing countries like China and India is a step forward to close the social and economic divide through the prudent applicant of IoT technology. A fully-interconnected IoT ecosystem in developing countries can have an exponential impact on several areas of life like transportation, energy, agriculture, etc. IoT can help economies to better manage their natural resources and ensure equal access to these resources.
Companies like Dell have a dedicated IoT division that works to provide IoT infrastructure to its customers across multiple industries. Dell’s IoT services rangers from consultation, solution creation, infrastructure implementation, and project management. Tata Communications is another company that is implementing dedicated LP-WAN for IoT applications in cities across India. Upon completion, it will become the largest IoT network deployment in the world, one which uses LoRa (Long Range) wireless technology.
IoT as a driver for digital business development
IoT and accompanying technologies like AI will act as a central driver for the growth of digital businesses. These technologies will be used to design and implement processes of digital development. They will help businesses to develop enhanced processes and value chains through analysis and insights into rich data. Business strategies like marketing will move away from traditional methods and focus more on mobile, online and social channels, creating a strong database of customer information. The sheer volume of data will enable companies to enhance their logistics, ultimately driving competitive delivery of services and products and superior customer value at a lower cost.
Our business models will change to adapt to the disruptive technology of IoT. If businesses fail to accommodate their strategies then will be left behind in the race. More importantly, next-gen IoT can truly help transform developing nations and help them catch up to advanced nations while reducing the digital and technological divide. At Alkye, we help clients to digitally transform their business through AI and automation, and get them prepared for the next disruptive digital revolution.