Press Release

Saving the Future of the Internet of Things (April 1st)
2015-10-30

Saving the future of the internet of things

On Jan 22nd, the full-day, “Internet of Things Seminar” session organized by IBM invited IBM India’s Subject Matter Expert in Electronics, Sanjay B. Panikkar to present his perspective to give a few insights on the challenges faced by the IoT applications and to provide directions for their future developments.

 

 

Before delving in, Panikkar starts by providing a backdrop, a brief look back at what IBM has been doing in the past decades: device democracy, and saving the future of the Internet of Things. He explained that IBM’s Institute of Business Value has sponsored this work by picking a topic every year for each industry, and that the topic of Electronics in 2014 was the IoT. The ensuing work that follows is the result of this study. He noted that we are at the start of a digital revolution, a point in time and history where we are seeing a massive number of smart devices, which will continue to grow in a relatively short period of time. Examples of this growth are evident in industries like the jet engine industry and energy meters. What is not so evident, on the other hand, are the business models and success cases, which leads to the next part of his presentation, the challenges of the IoT. 

 

 


 

The four key challenges of IoT

Panikkar pointed out four key challenges. The first challenge is the high cost of maintaining the hundreds of billions of devices connected to a centralized infrastructure, such as a solar farm. Second, privacy becomes a key issue as everything becomes interconnected, and as the internet grows less safe while we are left to trust private data centralized authorities, which has seen cases of security compromises over the past few years. The third challenge, provided by the increase in new breeds of connected products, will see that the cost of maintenance will outclass the manufacturing and product obsolescence. The fourth and final challenge is that profits remain elusive as companies experiment with revenue models and hold expectations that may sometimes be unrealistic. 

 

 

 

 

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