IoT “biggest disruption to business since Internet” | Smart Highways Magazine: Industry News

IoT “biggest disruption to business since Internet”

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The business analysts Innovia Technology is warning businesses that the Internet of Things is set to lead to “the biggest disruption to business models since the introduction of the internet, and adds that companies that use ‘ambient intelligence’ successfully are in a “much better position” to respond.

The company’s created an ‘Ambient Intelligence Canvas’, which is a framework for assessing the value chain which can be used to define “complementary value propositions for the consumer and the organisation.”
Innovia Technology has envisaged the role of IoT in the Smart City of 2025 – where the use of resources is closely optimised to enable a low-carbon world.  One scenario is of a ‘collaborative economy’, where demand for instant Internet access has led to universal communications coverage with close interconnection between facilities, people and equipment.  It features intelligent networks that reconfigure dynamically to manage the changing needs of the city from short-term traffic re-routing to long-term urban planning.
It concludes that this connected world will require different models of service delivery.
Innovia consultant Dr Helena Rubinstein says that companies need to take a big picture view of the situation, “Ambient intelligence is the benefit that organisations gain when they are able to process data from a multitude of sources effectively.
“The practicalities of managing the value chain – collect, prepare, use – may feel overwhelming, but the Ambient Intelligence Canvas provides a structured approach for deciding what needs to be done, how and by whom.”
A key feature of successful application is acknowledgement that the data donor is frequently the end user; insights from the data are used to provide a customised service that provides a relevant reward for sharing accurate data.
Additionally, focus should be on solving a real problem using inferences gained from a fusion of different data sources.
The investigation showed that value is gained not from an immediate cash return, but through building networks and deeper loyalty, so trust and transparency are vital.
Consultant Rich Bown adds, “Successful organisations are those that are prepared to share data with partners; it is this collaborative economy that underpins the new business models pioneered by companies such as Uber, Zipcar and AirBnB, and provides a taste of the tapestry of new services that will make up tomorrow’s Smart Cities.”

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