IoE and the Shape of Things to Come
“May you live in interesting times,” the old saying goes. With its explosion in intelligent connections, the Internet of Everything makes this one of the most exciting times to be alive — ever.
But you already knew that.
The real fun begins when we consider that as dynamic as technology change appears to be in 2015, this is only the beginning. Mobility, video, analytics, and other technologies have already transformed our jobs, our home lives, the ways we socialize, access entertainment, you name it. But now IoE is accelerating change at an even faster rate as people, culture, innovation, technology, get added to the mix.
With that in mind, let’s explore some key predictions to see where I believe IoE will take us in the next ten years or so.
The way I see it, IoE will drive an unparalleled level of social and business consciousness, as the Internet evolves far beyond its current state and limitations. This transformation will center on three core capabilities to be Hyperaware, Predictive, and Agile.
- IoE will offer a heightened sense of ourselves and our surroundings, enabling us to become Hyperaware. Objects both near (wearables) and far (nanobots in interstellar space) will be infused with intelligent connectivity from nearly invisible, self-powered sensors. Thinking globally and acting locally will no longer be enough as our awareness extends beyond our planet. Traffic accidents, product recalls, and even lost children and health maladies will fall by the wayside, as our bodies, our cars, supply chains, and just about everything becomes intelligently connected.
- In the next five years, mobility will become the true heartbeat of humanity as we rely on devices as if our lives depended on them: If it doesn’t work on mobile, it simply won’t work. The processing power and capabilities of those mobile devices will skyrocket as well. Battery life will increase to 10 days before devices ultimately become unlimited and self-charging.
- Big Judgment will come from Big Data, allowing people make Predictive decisions. As this happens, real time will be too late. And the biggest questions in life and in business will prove much less vexing, as billions of newly connected things generate data that is analyzed to give us actionable information and insights.
- By 2025, the network will become contextually aware, meaning that the perfect product will arrive before you even know it’s needed. (Missed anniversaries will be a thing of the past).
- In advertising, we will see 50 percent fewer ads. And the ones we do see will be 90 percent more relevant. (No more golf ads for those who have never picked up a club or receiving a mobile coupon for 20% off an unwanted product when you are rushing to get out of the store).
- Success or failure will be measured in days rather than months or years. And forget about debates around touchdowns, goals, or home runs, since everyone will know what really This may make for less colorful barstool discussions, but the real winner will be rewarded.
- With the rapidly accelerating pace of change, it will be critical for individuals and organizations alike to be increasingly Agile. New business models will challenge, disrupt, and shape value creation, investment strategies, business cultures, and corporate structures. In this new environment, those that adapt the fastest will be in a better position to win.
- The torrid pace of digital transformation will result in the largest boardroom turnover in history. The ability to extract value and insights from the connections of people, process, data, and things will become the most sought after skill for board members and CXOs. As organizations grow less hierarchical, leaders will have to cope with more ambiguity, and product creation will become more multi-disciplinary.
- In the next five years, 51 percent of the talent required to succeed in the digital world will be freelance workers. This structural shift will usher in an open business model for unobstructed innovation.
- Diversity and inclusion will change from being the correct things to do, to the correct and profitable things to do. Organizations will need to focus on digital behaviors, not traditional age demographics. After all, it is easy to build things — but building things that people really want is hard. In an age when grandparents are connected and mobile, old assumptions around segmentation will prevent companies from truly engaging all potential customers.
Change can be hard. But opportunities are exciting. There is no doubt we live in interesting times. Those who prepare for a digital world by understanding and embracing IoE to truly become hyper-aware, predictive and agile will help ensure that the future is better than the past – and that’s a great way to live our lives.