The Internet of Everything (IoE) is touted as the next big thing in technology. Tech pundits, Silicon Valley executives, entrepreneurs, and government officials predict that IoE will be a “multi-trillion dollar business,” which has the potential to transform our physical world.
While some are waiting for this revolution, we recognize that the winds of change are already here. IoE is creating unprecedented opportunities for organizations, individuals, communities, and entire countries to realize significant value from the increased connectedness. At Cisco’s IoE Value at Stake Roundtable today, expert panelists discussed the ways in which IoE can specifically benefit the public sector. Based on a Cisco study, we estimate that the IoE offers $4.6 trillion in value to the public sector through reduced costs, increased productivity, improved citizen experience and new sources of revenue.
Specifically, the Internet of Everything can:
- Improve employee productivity – With streamlined and intuitive processes in place, the workforce becomes more productive. Employees are encouraged to work smarter and faster, and teleworking and mobile collaboration are embraced, which saves the organization both time and money.
- Connect a militarized defense – Soldiers, bases, vehicles, and battlefield assets can connect to share information and resources faster. Military missions have become more effective, resulting in greater safety for armed forces.
- Reduce costs – Greater efficiencies in processes and protocols have reduced costs throughout existing segments of public sector companies and organizations.
- Enhance Citizen Experience – The citizen experience is enhanced through improvements in areas such as lifestyle and environment.
- Increase revenue – Better monitoring and compliance coupled with practices that match supply and demand lead to an increase in profits.
Numerous examples around the world are testament to the ability of IoE and how it is transforming government organizations.
- U.S. metropolitan city partnered with local organizations to use interactive smart screens to inform, protect and revitalize neighborhoods throughout the city.
- Connected U.S. defense forces are improving soldier safety and effectiveness through enhanced information sharing, collaboration and situational awareness.
- The city of Barcelona launched a Virtual Citizen Services Centre, enabling citizens to interact face-to-face with public servants to share, sign and print documents, and take care of multiple administrative processes as if they were at the office itself. Furthermore, Barcelona has implemented IoE solutions in water management, smart parking, waste management and connected bus solutions, all of which are helping the city save money and improve the quality of service to citizens.
At its core, the system relies on technology leaders in the public sector to take initiative toward implementing the practices and processes that include IoE. It is time for leaders to “act” rather than “react.” They must determine a vision for their organization and identify opportunities to establish an “IoE culture.” The benefit of IoE is derived from the compound impact of connecting people, process, data and things, and the value that this increased connectedness creates as “everything” comes online.
As we begin 2014, let’s keep IoE in mind. And also the fact that when you combine the $14.4 trillion of potential value in the private sector and the $4.6 trillion in public sector applications, IoE is a $19 trillion opportunity for businesses and governments globally over the next decade.