The Internet has been an essential part of people’s lives since the 1990s when it began to be available to the average person. It is also crucial for us to keep this space free of exploitation.
Since the amount of data that we share with each other, corporations, and governments often goes beyond what we realize, the emerging trends in the Internet of Things sector focus on privacy. There is a responsibility for the agencies in this space to safeguard what they receive and help individuals understand where the information goes or how it is used.
These are the trends to start watching develop over the next decade.
IoT Trends to Watch in the Future
Businesses are going to get serious about the Internet of Things over the next decade. 85% of companies in 2019 already say that they will plan or implement an IoT deployment.
The benefits for a company are numerous. By connecting machinery to the data that consumers generate, it will be possible to create more valuable products. Predictive maintenance will reduce expenses, and these benefits will trickle into other trends to watch.
1. IoT Devices Will Become Vocal
Consumers are using their voices to control plenty of devices in 2019. Siri, Alexa, and Cortana are all working with more platforms that help consumers to enjoy a hands-free experience. Almost every automotive manufacturer is working on the inclusion of virtual assistances that can make car operations a safe experience.
Voice control removes a communication barrier between machines and humans. Voice recognition and generation can also help us to secure our homes more effectively when combined with modern biometrics.
2. Edge Computing Will Dominate
This IoT trend refers to computing algorithms that operate at the edge of a network. It usually occurs at the point where the real world transitions to the digital one. Since most of the data that devices collect is useless, developers in this space are creating tools that can determine the importance of the information it collects.
Recognition algorithms on hardware and software can analyze collected data for useful information. Then it will pass on what it deems is necessary for storage or further processing.
3. AI Will Drive IoT Development Forward
Artificial intelligence must receive inclusion with modern IoT devices. If there are hundreds of machines all talking to each other, then the data this structure creates goes beyond human processing abilities. AI can spot information outliers to provide early warnings, efficiency improvements, and a variety of other benefits in the future.
As 5G technology becomes more available, the scope of IoT projects with AI support is virtually unlimited. It could help us to create self-driving vehicles, cleaner communities, and much more because there is so much extra bandwidth available to use.
No idea is off-limits when considering the IoT future trends to watch. We will dramatically expand our technology footprint while improving our security simultaneously. As we progress toward more automation, there will be numerous areas for collaboration as new and innovative solutions develop in this space.
Disclaimer: The author of this text, Robin Trehan, has an Undergraduate degree in economics, Masters in international business and finance and MBA in electronic business. Trehan is Senior VP at Deltec International www.deltecbank.com. The views, thoughts, and opinions expressed in this text are solely the views of the author, and not necessarily reflecting the views of Deltec International Group, its subsidiaries and/or employees.
About Deltec Bank
Headquartered in The Bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet clients’ unique needs. The Deltec group of companies includes Deltec Bank & Trust Limited, Deltec Fund Services Limited, and Deltec Investment Advisers Limited, Deltec Securities Ltd. and Long Cay Captive Management.
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