The Internet of Everything (IoE) is poised to change the world with extraordinary, wide-ranging implications. IoE will forge a new economy that is bursting with new market and business opportunities. Technological, social, and economic advancements will not only transform the way IT and business enterprises run, but also impact almost every facet of our daily lives.
The financial promise of IoE is staggering. Of the $19 trillion in profits and cost savings projected over the next decade, Cisco estimates that $14.4 trillion will be new private-sector profits, and $4.6 trillion will come from public-sector cost savings and new revenues. According to a study conducted by General Electric, the Internet of Things (IoT), a pillar of IoE, over the next 20 years could add as much as $15 trillion to the global gross domestic product, roughly the size of today’s U.S. economy.
In the new IoE economy, people will be the biggest beneficiaries. Global living conditions will improve. Intelligent networking will have a profound impact on the quality of delivered services and products. Connecting sensors and actuators to the Internet will produce amazing new business and lifestyle opportunities, along with major security and privacy challenges.
We’ve only begun to see the tip of what IoE holds in store for the planet.
Find out more about the financial, technological, and life-altering potential of IoE in my article, The Internet of Everything Is the New Economy.