Today, Cisco announced that Public Sector entities worldwide could realize some US $4.6 trillion in value by embracing the Internet of Everything (IoE). The Value at Stake calculation comes from a bottoms-up analysis of 40 case studies of Smart city, state and country solutions proven to enhance everything from healthcare and education to traffic flow, parking, lighting, crime reduction, waste and water management.
With IoE, the possibilities to connect people, processes, data and things via common networks and killer apps seem infinite. The release of our study, “Internet of Everything: A $4.6 Trillion Public-Sector Opportunity,” coinciding with the Consumer Electronics Show (CES), spotlights many Public Sector opportunities over the next decade.
Here, I want to elaborate on two vital questions a lot of people asked me at CES: First, why now? Second, what are the opportunities internationally?
Why now? Since the dawn of the Internet, a complementary ecosystem of sensors, actuators, killer apps, mobility, computing power and Big Data analytics has continued to mature around the network. In just the past few years, as usage has grown, the costs of these networked technologies and solutions have come down rather dramatically.
As a result, it now makes sense not only for private enterprises but also for Public Sector organizations to reap benefits that outweigh the costs of building networked infrastructures. After years of visionary talk, it’s now possible for the Public Sector to improve IoE-based services for citizens and consumers, in effect, with flat budgets.
Reduced costs, increased revenue, better employee productivity (there are 350 million Public Sector workers globally) and enhanced citizen experiences all combine to more than make up for the costs of implementation, which also can be defrayed through public-private participation.
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Tags: CES, Iinternet of Tthings, Internet of Everything, IoE
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. Read More »
Tags: CES, CES2014, CiscoCES, IoE, value at stake, whyIoE
Here at Cisco we are busy getting ready to go to NRF next week, which is being held in New York on Jan. 12-15. Cisco is at the show expo on Jan. 13-14, and will be featuring four company thought leaders in the annual Big Idea sessions. I asked Lisa Fretwell, customer solution director at Cisco, to tell us more about her topic and the buzzphrase that’s beginning to penetrate the industry: The Internet of Everything.
Q: Lisa, what is the Internet of Everything?
The Internet of Everything, or IOE, is the next step change in customer experience store efficiency and effectiveness, a way of thinking about stores and store technologies to derive the greatest possible benefit from every data point. In the future there will a significant increase in the numbers of “things” connected to the Internet. Those new connections will create a huge amount of useful data that we can use to transform our processes and radically change the way that stores engage with customers. This next generation combines data, processes, people, and things to create significant new and additional value for the businesses.
Q: Why is IOE so important for retailers?
A: Remember years ago when the Internet came along and retailers said, “It will never take off”? Today’s transition to the Internet of Everything will be even larger and faster than the move to eCommerce or mCommerce, as it is enables rich customer experiences and a new era of operational productivity. IOE helps to optimize low margins and drive profitability by keeping stores ahead of high customer expectations. It accomplishes this by improving productivity through automated operations based on new data sources and sensors combined with smart analytics.
Q: What do you think are the most important topics you’ll discuss at NRF?
A: My goal is to help retailers start to understand the critical opportunity offered by IOE. I think it’s important for retailers to understand these new concepts and see what their competitors are doing. We’ll discuss what they need to do to get their business ready for IOE and how to get started – not just architectures, and connectivity, but how IT needs to rethink data and analytics platforms and how retail businesses can adapt to make the most of the brave new IOE world. To understand the economics of this, check out the white paper Embracing the Internet of Everything.
Time and Place:
“The Internet of Everything: What’s the Art of the Possible in Retail?” with Lisa Fretwell takes place on Monday, Jan. 13, at 2:00-3:00 pm, in Room 4 on Level 3 of the Expo Hall. For those who can’t be there, a recording of the session will be available after the show. Visit Cisco’s NRF website to learn more, and do take the time to stop by Cisco booth #1954.
I’ll see you at NRF!
Tags: customer experience, Internet of Everything, internet of things, IoE, Lisa Fretwell, NRF, nrf14, retail, Rose Depoe, shopper
As we continue to explore and quantify the opportunities presented to our partners by the Internet of Everything (IoE), I’m excited to share that our latest research has identified $4.6 trillion of value in the public sector. That brings the total value “up for grabs” by our partners to an astounding $19 trillion by 2022 (the private sector will account for $14.4 trillion of the total opportunity). Read the IoE Public Sector Value at Stake White Paper and Top 10 Insights. Read More »
Tags: Cisco, Internet of Everything, IoE, partner, public sector, Sherri Liebo
It’s impossible to predict the future, especially when it comes to the impact of technology on our lives. This has been true since the time of the very earliest human inventions, and in the modern era, we no longer need decades and multiple generations to see these changes; they are immediate and have the power to transform single generations many times over. Just consider how the personal computer, Internet, email, and mobile devices have changed our lives time and again. These innovations, taken alone, are extraordinary. However, the power they have unlocked by coinciding in time and the profound consequences of connecting people, places, and things—Everything—makes the potential of the future both unpredictable and boundless.
The ability for any company to stay well ahead of disruptions—whether to defend their own markets or to expand into others—is extremely difficult. And it is nearly impossible to do so consistently. This is because the nature of the innovation, the context, time or market in which it lives, as well as its cost, all play a role in whether it takes seed and matures. The better you can understand the factors that may make a lasting crop, the smarter you can be in choosing what field of soil to till, under what conditions to plant seeds and when the best time is to do either. This really amounts to making the best and most educated bets you can. In practical terms, these wagers can range from choosing the right customers to pursue to determining where you invest precious resources.
Some companies, including Cisco, have adopted robust build, buy and partner models to keep ahead of the market and inevitable disruptions that pose both threats to current market positions as well as offer powerful tools to enter into new markets. For Cisco, having an additional lens to help see factors a little better in order to make smarter bets, has long been part of the Cisco Investments approach. Putting capital to work through equity investments in start-ups and funds has helped to improve illusive visibility that can make the difference to catching critical market transitions—or missing them. Insights learned through equity investments into young and interesting companies on the bleeding edge of change helps Cisco gain valuable understanding of market trends, assess and develop better partnerships as well as strengthen relationships with other investors and partners that complement our M&A and organic development efforts.
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Tags: Hilton Romanski, Internet of Everything, Investments, IoE