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The Internet of things: Disrupting traditional business models

With the Internet of Things, or IoT, we’re at the dawn of a new revolution, which could be compared with the digital wave that disrupted most industries not so long ago. For although digitalisation clearly created immense value for consumers, it was also very tough on companies unable to adapt quickly enough. So, how can we generate value in this new game? The Internet of Things is everywhere. Wearables, or portable technologies, and other health-related accessories are among the first to come to the fore, such as bracelets, watches, bathroom scales, and others, with Fitbit, Jawbone, Withings, and iWatch. Objects like cars, tractors, suitcases, fridges, garbage cans – even the human body – are getting connected. Yet machine-to-machine (M2M) interfaces are nothing new: they’ve been around for over two decades. So, what has changed? Significantly lower sensor costs, an explosive rise of connectivity, increased computing processor power, and miniaturisation of these components are all factors that augment innovation opportunities and hence the range of connected objects.