IoT is Transforming Business Models and Industries
Hey guys, as you know I have been quite busy co-founding of a brand new revolutionary product, modoola. The business concept is about designing smart furniture with embedded tech. I caught up with Robert Scoble at the IOT or Internet of Things conference in London and asked him some questions regarding new technologies coming up in the near future.
Robert’s talk at the IOT conference was inspirational and mind opening. I asked him what he could see becoming revolutionary devices in the next 3-5 years, to which he said: “The Meta (httpss://www.metavision.com) and the Argument reality (AR) glasses is simply the most important demo I’ve had since Steve Jobs showed us the iPhone. I think it’s as big a deal as even the Macintosh. Either way, this is one hell of a demo, most interesting demo of my life. I’m still saying “wow” five days later.”
Internet of Things (IOT) devices are able to collect and transmit data via the Internet, which can then be received by super smart computers in the cloud. We have seen over 50 exhibitors at the conference focused on developing platforms more than hardware products, which now seems to be the trend as hardware is pretty much being developed.
Forbes forecasts that by 2020, it’s expected that the number of Internet-connected things will reach or even exceed 50 billion, Robert has been used to being invited by people like Mark Zuckerberg to test and try new products. He told us that Snapchat is bringing a new camera with interesting applications this year.
As Ray Wang is stating, 52% of the fortune of 500 firms since 200 are gone and digital creators take all markets. IOT, AR and VR are today’s technologies and companies are already using them to gain insights into their customers and internal processes. For instance, Caterpillar is using AR Glasses to help staff fix 2 million dollars tractor real time. AR glasses are showing the technician on site what to fix and how to fix, saving hundreds of thousand dollars in product recalls.
Robert mentions a company in San Francisco that is using IOT sensors inside vending machines to improve the supply chain. They have replaced their trucks fleet with smaller trucks, as they only need to carry drinks that are actually missing from the vending machine. Before, every truck had to have a while selection of drinks as there was a lack of intelligence.
Robert is UploadVR’s entrepreneur in Residence, a website dedicated to bringing virtual reality technology to consumer masses. He told us that “Cisco’s new Wi-Fi router will tell you where you are, Fancam, a-hi res camera can spot you in a stadium and it will know your age within a 5 years approximation, tell sentiment, and understand which team you support as well as knowing if you have been to another stadium”.
Products are becoming more accessible, sensors cost only dollars and can be fitted anywhere. Internet of things, AR and VR aren’t technologies that are going to take off in 10 years, they are already here! In 2015 we had 4.9 billion connected things; companies and consumers are going to witness a data and content explosion as adoption goes viral.
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