Sunday, 20 March 2016

Future of internet- beyond connecting people or customers

So much of time and efforts are being put on socially connecting people of the world. These are perhaps being overdone, to the extent that considerable amount of talent is spending time in putting a like button on a video or post. Similar efforts are being done on perennially losing eCom websites. Stress in that ecosystem is already showing and its only a matter of time that we hear demise of few names.

Time to check, is this the only thing internet can deliver? Exciting new possibilities exist for other applications which can truly improve the quality of life.

Yes, I am talking about Internet of things (IoT). Few of applications which come to minds are:

  1. Early health event detection through wearable medical devices- data can be monitored by experts sitting across continents. This has potential to transform the health industry. Both, hardware and software areas need exploration. Cheap connectivity would make it easily affordable to millions of people in world.
  2. Health monitoring for industrial equipment- Conventionally all organisations employ people who monitor health of machine. Alternatively, the sensors could be hooked to internet and could be monitored by original equipment manufacturers (OEM's), the best people to monitor and correct.
  3. Improve travel: Reliability of aviation and railway could be improved multi fold. The sensors could be hooked up the net for monitoring by OEM suppliers.
List could go on.

The Internet of Things offers tremendous potential for the manufacturing industry. Machines, systems, products, ICT systems, and people can be progressively connected over the internet, creating a production network in which information carriers communicate with each other and exchange data and information in near real time. In terms of the value chain, this means value creation partners – from suppliers to customers – are more tightly connected and capable of entering into closer cooperation with each other. The exchange of up-to-date information offers an opportunity to improve the quality and timeliness of decision-making processes, optimize the coordination of activities, and boost efficiency throughout the entire value creation process. This, in turn, provides machine and component manufacturers with the chance to offer their customers new services.

We need mavericks like Steve Jobs to focus on these possibilities, which have potential to transform the way things are done now.

Few like GE and Bosch  have already started working on this, but much more needs to be done.

What more applications come to your mind? Please share.