Top trends for the internet of things
June 10, 2015
Frankfurt-based Software AG has released its picks for the top trends for the IoT. The overarching theme highlights the need for better regulation and security for widespread adoption.
“The internet of things is a revolution,” said Bart Schouw, director for Software AG. “There will be serious threats to those who are not prepared and profitable opportunities for those who are. Issues such as security and governance will need to be addressed as the IoT begins to impact more and more of our daily lives.”
The company has revealed what is sees as the top eight trends:
- Don't Gamble with the IoT: Untrustworthy things will be treated like gamblers in a casino – under close surveillance and approved until they misbehave. Traditional methods of on-boarding things using explicit authorisation will be insufficient as the IoT proliferates.
- Intelligence on things gets up close and personal: As intelligence on the IoT becomes critical to decision-making, it will become necessary for analytics to reside close to the things being analysed. Analytics will evolve both in the cloud and on the outer edge – either on the thing itself or on a gateway nearby.
- Say hello to your virtual assistant: IoT will enable consumers to adopt a virtual assistant, which will act in a semi-autonomous manner in the home – monitoring sensor-enabled things to replenish light bulbs, order prescription medicines or buy groceries online. But consumers will demand assurances of security and privacy before embracing the trend.
- Pay-as-you-go things: The IoT will accelerate the pay-as-you-go model for products. All products will be sold with something smart embedded within them. For example, a washing machine could be offered cheaply, or even for free, with the consumer only having to pay as it is used.
- Wanted: mathematics teachers: As graduates are increasingly snapped up for big data analytics, the market will headhunt maths teachers and professors out of schools and universities. Government offices of innovation, employment and advanced education need to wake up and take action.
- Regulation will evolve: Regulators will learn that security attacks can come from any point in an IoT system and in unexpected ways; a bank could be breached via its smart building control system, or a city brought to its knees by someone infiltrating the smart city transport systems. They will have to evolve compliance and governance to provide a legal framework for IoT.
- Smart cities tackle IoT risk: As cities get smarter with the IoT, municipal governments will have to enact new regulation to ensure adequate risk management. For example, who is responsible if a smart traffic light fails and there is a multi-car accident? The city? The technology provider? The car manufacturer? Insurance risk will need to be considered in the connected world.
- Prepare for data doomsday: Organisations will have to start building out robust, advanced, specialised digital business platforms or they will perish in the inevitable data onslaught. Although 95 per cent of companies expect to experience benefits due to the emergence of IoT in the next two years, a majority (65 per cent) find that analysing big data in real time is very difficult to achieve and nearly three-quarters are struggling to get proper analytics from their current data flow, according to a recent survey.
“IoT is a real-time challenge; it is big data analysis in a pressure cooker,” said Schouw. “Old products will be re-invented and whole new ventures will emerge overnight to focus on the analysis part, and define service on top of it. Innovators and market leaders that are in the midst of this digital transformation will come out as the winners.”
Software AG's big data, integration and business process technologies aim to let customers drive operational efficiency, modernise their systems and optimise processes for smarter decisions and better service.