Unfortunately, a lot of IoT – Internet of Things applications talked about today are just extensions and extrapolation of current product, web and mobile applications. In fact, many of these suggestions are outright silly – connected this and connected that! However, these initial thoughts about what IoT will be used for are no different from the lengthy discussions going on in 1980’s about home computers (to store cooking recipes) or in the 90’s about mobile data services (texting).
Just like the Internet and the iPhone swept those silly suggestions away, IoT five years from now will look very different from what we envision today. Having said that, future IoT business opportunities can be divided into five general categories:
1. New enhancements and/or attributes/features on existing product categories.
2. Improved user experience.
3. Improvements in supporting and servicing products.
4. Completely new product types.
The X^Y above is what the web did to home computers and what user interface and processing improvements did to mobile applications. Should we wait for X^Y to happen? The short answer is No! There is tremendous business value to explore in the first 4 categories even if we do not know what the X^Y factor is?.
By Mats Samuelsson | September 22nd, 2015 | IoT