IoT trends that will keep IT leaders busy throughout 2018 — and beyond
Last year was one of excitement and transformation in the Internet of Things space. Nearly every enterprise invested in an IoT ecosystem to drive the bottom line. Connected gadgets, wearables, and other consumer products comprised a large part of the market. However, according to estimates by IDC, over 80 percent of IoT spending until 2020 will be on B2B applications. No wonder IoT is poised to become a major driver of digital transformation in 2018. Thanks to the IoT network, successful enterprises can now implement a self-learning environment, which will then foster digital disruption within the physical world. And the emergence of new business models will lead to new work processes, improved customer experiences, productivity improvements, and cost containment. So, without further ado, let’s have a look at the main IoT trends affecting enterprises in 2018:
Artificial intelligence and machine learning present a sterling opportunity for IoT and are arguably the most important of the 2018 IoT trends. Now, enterprises will be able to accurately predict when their devices and technology will require repairs. Demand response and self-optimizing production are a few other benefits that they can look forward to.
Since the existing network infrastructure will probably be required for “connected things,” the analytics investment will be greater as enterprises discover new methods to analyze the large amounts of data generated by smart devices.
Also, thanks to greater machine utilization, it is easier than ever to interact with technology. IoT devices meant to bring users closer can be designed with the use of AI. And, in 2018, the world will better understand the awesome use of chatbots and AI supported by IoT.
Machine learning will be used in different ways, like retail store security cams with streaming video, where machine learning helps to recognize potential theft patterns, capture facial cues without accessing private customer data, and head off privacy and security concerns.
Expect blockchain to climb up the ranks as one of the most superlative IoT trends of 2018. As etherium and bitcoin become household names, 2018 will witness new developments in blockchain technology that will drive the cryptocurrency market forward. With investments in blockchain increasing steadily, this new kind of digital ledger can become the norm in global financial markets.
As blockchain merges with IoT, a secure way of recording the data processed by IoT smart machines will emerge. While blockchain provides the infrastructure needed by two gadgets to transfer money or data directly, IoT will use smart contracts to model the agreement made between these two parties.
This is helpful since it adds an additional layer of security to the data, and if any breakage occurs, blockchain can locate the weak link and repair it quickly.
Data security is something that cannot be ignored in today’s digital ecosystem and is will be one of the top IoT trends of 2018 and beyond. Everyone from IoT pioneers to tech-savvy consumers focus on data security, and 2018 will witness major progress in the field of IoT protection and privacy.
Whether it is the new GDPR set of regulations related to data privacy to be implemented in the EU or other developments in the personal security worldwide, security will no doubt receive a boost thanks to IoT in 2018.
