It is estimated that there will be 50 billion IoT devices on the market within the next five years, and most businesses are already jumping on the bandwagon. But what do these devices mean for the future of businesses?
Larry Dignan, ZDNet’s Editor-in-Chief, shared his thoughts on the matter. According to him, IoT is the most important thing in the entire digital transformation process. He believes these devices are paramount when it comes to:
– Inventory tracking and supply chain
– Providing additional analytical data
– Gaining more knowledge overall
He sees IoT as being especially important in smart cities. Furthermore, certain areas such as traffic and water supplies will also benefit greatly from this technology.
As with most new technologies, IoT will certainly bring its own set of challenges. Dignan believes that the challenges will come in the form of having to decide which data is important and which is not. However, since storage tends to be quite affordable these days, companies can afford to keep it lying around.
Just as Dignan has said, companies will put a lot of sensors on things, but they may not have a clear idea on what to do with the gathered data. Another potential problem is that unattended data can become vulnerable to attacks, which means that company’s cyber security measures should include IoT devices as well.
According to Dignan’s views, businesses will need to treat securing data that rests on these devices in the same way as they would when it comes to securing