Technology-Finance

4 ideas about the effects of the Internet of Things

4 ideas about the effects of the Internet of Things

The technology industry is preparing for the Internet of Things, a computing that is installed in small devices that detect and transmit data of all kinds without the need to be tied to objects.

4 ideas about the effects of the Internet of Things:

1. According to Marshall Van Alstyne, a professor at Boston University, “As ordinary products connect, manufacturers will have access to a very valuable information capable of generating new services“.

2. Gordon Bell, a researcher at Microsoft, believes that “no one knows exactly what form computing will take on the Internet of Things. The true importance of the PC or the smart phone became evident after its development. The Internet of Things will make the world part of the web and people will have to assimilate that our universe is housed in a team ”.

3. In the jargon of this new technology, it is called network effect when each new user contributes to increase the value of the products and platform business to systems that create value outside the company that makes a product. For example, users have combined the functions of the iPhone into thousands of applications that Apple could not even imagine.

4. The design must motivate users to add value to the products, so that the characteristics of the same are combined and adopt forms impossible to anticipate. The Internet of things allows the creation of these platform business if the product design is correct. Thus, while an independent product has its traditional growth curve until it reaches maturity and its decline, a suitable design that allows other people to add value to the product generates a much faster and more profitable innovation curve.

In short, the Internet of Things offers enormous possibilities for reinvent the entire economic system (sectors, products ...). For this reason, we must be prepared for the effects on the network as everyday objects begin to connect.

Source: MIT Technology Review

Related Reading:

  • The 10 technologies of the Internet of Things that every company should know

Video: Life Simplified with Connected Devices (September 2020).