5 predictions for the Internet of Things in 2018 and beyond

In the past few years, we have seen significant progress in the tech field. This growth is not expected to slow especially as the Internet of Things (IoT) continues to expand. The advancements that have resulted from IoT, like smart homes and virtual assistants, are only the beginning. Here are several IoT-related predictions as its influence continues to spread:

1. IoT will converge with AI, fog computing, and blockchain.

In order for the expansion of IoT to continue, it must use the most efficient technologies. Although artificial intelligence has a long way to go before it reaches its full potential, coupling this technology with IoT will be beneficial to both. Combining IoT with AI, fogging and blockchain will expand both technologies’ capabilities.

2. IoT security will become the No. 1 priority in the enterprise.

With every new invention comes people waiting to hack it. IoT devices offer a unique hacking opportunity for cybercriminals since they collect personal information and are located in the heart of people’s everyday lives. Developing secure IoT networks will be a challenge as it continues to rapidly expand.

3. More organizations will take a co-everything approach to solution development

Companies of varying sizes will co-create the best large-scale IoT products for their market. Also, IoT has the potential to give the consumer a louder voice, putting them in the center of the design circle. They will be able to have a more direct impact on the products that will be delivered to them.

4. There will be an industry-wide, accelerated move to open standards, open architectures and interoperability and regulation

Given the new threats due to the development of new technology, updated regulation will be necessary. This regulation can come in the form of government intervention or industry-wide standards.

 

5. IoT will drive new value propositions and new business models

There is a lot of opportunity in IoT, between the development of new products and the software needed to run the devices. This opens up options for businesses to either expand their current offerings or found new businesses that can fulfill the demand gap.

2018 will likely be a big year for IoT as it continues to grow and develop.

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