I can predict with a strong degree of confidence that the Internet of Things will be a major catalyst in many organizations’ efforts toward digital transformation. To be successful with IoT initiatives though, will require a significant amount of patience. Using the Internet of Things to drive new business models is equivalent to building a new plane while already in flight, due to an ecosystem that is still somewhat embryonic. There is much potential reward for the risk though. The article below does an excellent job of outlining the opportunities and challenges when incorporating IoT into the enterprise.
For enterprises, the Internet of Things (IoT) currently represents something of a double-edged sword. On the one hand there are manifold opportunities to boost the efficiency of products and services, create new revenue streams and reduce operational costs by connecting all manner of devices (‘things’) to the internet and analysing the data they generate. On the other hand, this is still an immature market in which architectures, technologies, standards and vendors are all moving targets, making investment a risky business. In particular, security is a major worry when it comes to the IoT.
