Over the last year, I (and many of my colleagues) have spent a lot of time talking about the Internet of Everything (IoE) and how it’s transforming our world. I thought, however, it would be good to pause in this blog and clarify what we mean by the “Internet of Everything” in just a little more detail. I’ve mentioned in the past that IoE consists of four “pillars”: people, process, data and things, but let’s take a closer look.
Many people are familiar with the concept of the Internet of Things (IoT). Not only does it have its own Wikipedia article, but last month the Internet of Things was added to the Oxford dictionary, which defines it as “a proposed development of the Internet in which everyday objects have network connectivity, allowing them to send and receive data.” So it’s not surprising that people might be confused when we start talking about the Internet of Everything. What’s the difference? Is IoE simply a rebranding of IoT?
The fact is, the Internet of Things is just one of four dimensions — people, process, data, and things — we talk about in the Internet of Everything. If we take a closer look at each of these dimensions, and how they work together, we’ll begin to see the transformative value of IoE.
In my keynote today at the National Parking Association Convention (NPA) in Chicago, I addressed the traffic problems caused by those looking for parking. Today, 30% of all traffic congestion in urban areas is caused by drivers circling to find a parking spot. Cisco believes that the Internet of Everything will solve this problem through the use of a connected parking solution.
Last year, we announced collaboration with Streetline and delivered connected parking deployments in San Carlos, California. and San Mateo, California. Streetline’s sensors and parking application on the Cisco network allowed residents to pinpoint parking spots before arriving at their destination.
Today, we are expanding this collaboration by entering into a strategic relationship with Streetline. Streetline’s technology and suite of data and analytics applications provide parking providers with real-time information and control systems at a much broader scale than the past. Cisco’s camera-based solution complements Streetline’s pavement sensor-based solution. Cameras and Sensors act as the “Things” that generate “Data” that can be put to use through powerful analytics and the resultant information could be used to improve “Processes” and overall quality of life for “citizens”.
We are also building the combined solution on the City Infrastructure Management (CIM) platform, which will allow a City to expand deployment of other vertical use cases like Smart Lighting, Video Surveillance and more. The new integrated Parking Management solution will be deployed on the City Wi-Fi platform providing an additional benefit of Wi-Fi coverage and potential additional services. Smart+Connected™ City Wi-Fi is a solution that helps global cities provide citywide connectivity and to establish a platform for new service development for citizens.
Intelligent parking services are the solution to growing parking issues we face today, and will enable a new experience for visitors, businesses and residents. We are pleased to be collaborating with Streetline to advance the solutions available and believe that smart parking will not only help with the the problem of congestion, but also decrease parking maintenance, carbon emission, improve parking enforcement and increase city revenue.
Watch what the residents of San Carlos have to say:
It’s no small task explaining the vast possibilities the Internet of Everything can offer, but here’s a sneak peek of the key points including:
Understanding the Internet of Everything. Despite all that is connected to the Internet, more than 99% of the world is still unconnected. As IoE works to connect people, process, data, and things that were previously unconnected, networked connections will become more relevant and more valuable than ever before, especially as we connect in new ways.
The Tremendous Value at Stake. Cisco predicts that $14.4 trillion of value will be “at stake” over the next decade. That’s the combination of increased revenues and lower costs that is created or will migrate among private-sector companies and industries over the next 10 years. IoE has the potential to grow global corporate profits by an estimated 21% by 2022.
Examples of Real-World Innovation. IoE is changing our lives in fields such as education, healthcare, and Smart+Connected Communities. Imagine how networked connections can bring together employees, teachers, students and more to increase productivity and efficiency. We are just cracking the surface of what’s possible.
Technology Implications and Solutions for the IoE Economy. The network is the only connection point that touches everything (people, process, data and things) and must provide an intelligent, manageable, secure infrastructure that can scale to support billions of context-aware devices.
If you are attending the Gartner Symposium/ITxpo 2013, join me on October 7 as I demo real-world scenarios and offer steps today’s IT leaders can start taking now to capture the IoE Value at Stake. I look forward to seeing you there.
Presentation Title: Networked Connections Drive Business Innovation: The Internet of Everything
Date and Time: Monday, October 7, 2013, 3:45-4:30 p.m. ET
“Growing up is never easy. You hold onto things that were. You wonder what’s to come. But that night, I think we knew it was time to let go of what had been, and look ahead to what would be. Other days. New days. Days to come.” - The Wonder Years
I’ve always liked this quote from one of the best TV shows of all time. And in an age where things are constantly changing, it’s never been more relevant. Today’s grandparents and parents spent their childhood in a world without sensors, smart phones and network capable devices at their fingertips. Our children, however, are growing up in a drastically new world. A world where everything is instant, where networked devices are part of their everyday lives and technology is in everything they do. This world enables unlimited potential and unlimited connections that can impact a child’s life for the better. So how will the Internet of Everything (IoE) prepare children for the smart people network they will live, learn, work and play in?
For that last few years, Cisco has been watching the impact of the Internet on transforming the retail industry. As more people, processes and things are connecting to the Internet, retailers can capture more data to better predict when and where consumers will want to buy and capture more revenues.
Today, Cisco released Internet of Everything research that equates to $81 billion globally in 2013. But this represents only 45% of the opportunity that could be gained by the Internet of Everything. Retailers could have realized an additional $99 billion this year if they were more connected across their operations. The good news is that retail IT executives are confident that can capture this value. On average, retail IT executives rated their ability to capture Internet of Everything at 7.2, on a scale of 1 to 10.