Will the future of IoT impact business relationships?
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I think it'll help to create automated collaborations or licensing the data and the services as well, so a company will use its data for their core business and also can get some other benefits by making it available for others who might have a use for it.
It could be a good idea to create a data broker for the customers and suppliers to meet, with a business model like airbnb or uber.
Simply throwing IoT out there to see what sticks is a recipe for disaster. It's important to step away from the hype (IoT) and focus on the problem you are trying to solve. We had a problem that needed to be solved... specifically, identifying the hours of operation and space utilization in our Library. People sensors (IoT) was the perfect fit to help solve this problem. If we had started with "lets install people sensors and see what we can do with them!" then it's quite possible the project would have failed miserably because we'd be ad-hoc with trying to figure out what to do with them.
IoT is in the process of becoming completely embedded in the entirety of our lives, both in business and in our homes. SO, yes, business relationships will be impacted.
IoT is an ever-evolving landscape that will continue to push in many directions; I can foresee IoT being a huge enabler of many B2B functions and processes, far beyond where we are today. It can be used to automate and simplify many functions, and can be used to remove the human capability of "mistakes" from various business entanglements.
similar to all the other colleagues it will impact a big time even now it is happening. All these Beacons and sensors reading real time and using edge technology to processes and 5g to transfer the data in real time the business is able to know what is going on and make action about it even before it is happening proactively and it shift the focus of the business from data collection to data digestion and action upon it so no more time wasted on preparing reports and submitting them instead the decision maker is watching heat map and acting against it . This will make the organization more data driven and smarter.
Yes, however, in many cases IoT is framed based on consumer use cases—this is often how most people become acclimated—which presents a number of challenges in the commercial/enterprise space:
1. Consumer IoT is generally not very secure and favors easy of deployment. In our side we are seeing use cases being developed that don’t account for some of the factors consumers often overlook such as the exposure of PII, strong authentication, and long-term TCO;
2. Liability is still very uncertain. It’s not clear if/how cyber insurance policies cover IoT and laws around the development of new PII-like information are not clear (for example collating data across multiple IoT systems can be used to identify individuals). Further, if IoT devices are compromised and used as a botnet and these devices use a combination of local sensors and cloud compute accountability is often unclear; and
3. There are very few standards in IoT/IIoT. At the same time business often looks at procuring these devices either as it would for standard IT devices or as standard OT devices (where protocols and standards are more established). The convergence of data and operations is still a work-in-progress.
4. Health and safety is often not a large concern for traditional IT. When you move to IoT/IIoT health and safety needs to be considered in conjunction with the CIA triad. In many cases regulation has fallen very far behind the curve resulting in a high level of uncertainty with business planning.