Internet of Everything: Is It the End Point of Digital Transformation?
In this Article:
Internet of Everything is Coming Soon. What Business Should Do To Get Ready?
Companies spend millions of dollars annually on digital business transformation. It's predicted that in 2024 the investment amount will reach a shocking $2.4 trn. What are we aiming for? (Setting aside the pandemic crisis and our desire to recover faster.) Where is the ultimate goal of digital transformation, or is it the way of a samurai?
As indomitable evolution shows, the second option is more likely. However, we have an achievable milestone - the Internet of Everything. For several years we have seen it from the back. But soon, the business will function in the IoE world.
We ought to prepare. To what and how exactly I intend to tell here.
Meet the Internet of Everything. It seems you already know each other
When we chose a topic for coverage, my colleague noticed that the Internet of Everything is a rather vague and ephemeral concept today. Perhaps, this article should have been postponed for a couple of years?
But, as Satya Nadella, CEO at Microsoft, rightly said, “We’ve seen two years’ worth of digital transformation in two months.” I believe in the black swan theory. Maybe, in 2022, we will begin the countdown of a new era for the Internet of Everything. So, why not meet it today?
What is the Internet of Everything?
Recently, I told you about a new trend - the Internet of Behavior. It is the natural evolution of the Internet of Things. Oddly enough, the same applies to the Internet of Everything.
IoT ensures seamless integration between devices and all benefits related to it. The IoB is responsible for applying behavioural psychology to the analysis of data derived from IoT usage. While, IoE is about the connection between everything: devices, data, processes, and people. It is about creating one integrated space designed to simplify business and people's livelihoods.
Do you also think that it is somewhere far from today's reality? Let me convince you otherwise.
The manufacturing domain is showing off newly built smart factories supporting IoT, 5G, and AI. One of them is the result of cross-domain cooperation between Intel, Telecom Italia, EXOR International, and JMA Wireless. So, what is a smart factory as a concept? It is a set of intelligent hardware, able to transfer data in real-time, alert staff in case of emergency, and perform all the processes with minimal human intervention. These factories can actively use robots, the speed of which is many times higher than the human one. A small number of specialists are needed to control what is happening in the room. According to Victor Kmita, CEO at XME.digital, “In perfect conditions, a smart factory has walls, robust hardware, viable software and no people inside, because all the processes can be managed remotely.”
So, what do modern smart factories remind you of? For me, it is a limited space where the synergy of humans, technology, processes, and data reigns.
The scale of the example is too small, as a global concept? Let’s switch to the construction market and smart city building. Recently, news about a sustainable city NEOM, in Saudi Arabia, caught my attention. The creators plan to build a multi-level eco-city and organize life there using Big Data analysis. It is assumed that thousands of gadgets throughout the city will constantly broadcast data about the environmental condition. The received information will allow people to organize the work of shops, banks, traffic, etc. Again, we see an example of the four IoE components unity. It will become a reality in a few years.
Top 5 Tips on How to Get Ready To the IoE in 2022
As seen, It means you should prepare your business for changes before they take you by surprise. How to do it in 2022? - Follow trends, considering the capabilities and needs of your company. In particular:
Establish business processes. Remember that everything depends on their quality: from work efficiency to appropriate software updating. Intricate processes that no one can figure out will not bring the expected enchanting result from IoE.
Look closely at the digital twin. Today, literally every industry needs this technology. It will allow you to avoid mistakes in new ideas implementation and control the entire enterprise operation. By the way, this tool also helps to make processes more transparent.
Perform software modernization. Don't forget - you need to run twice as fast to be the first. Legacy systems cannot provide you with the speed, scalability, and audience engagement you want. So, "feel" your company define its bottlenecks in time, and experiment with software to the extent your business demands.
Use RAD instruments. The software market is too dynamic. Meawhile, traditional custom development can take months and even years. Rapid application development tools like no/low code platforms can speed it up. The last ones help to create simple software products covering basic needs. But there are also more functional specimens. Open-source low code platforms like XME. enable you to design custom and even unique solutions due to the source code transformation. No limitations, no vendor locks. Just x2 faster custom software creation.
Follow sustainability principles. Surprisingly, the Internet of Everything is a way to achieve sustainable business development and vice versa. By shaping the IoE ecosystem, you create a more coherent and flexible environment. Processes run faster and less energy is consumed. Win-win. To be ready for the new reality, you should pay attention to sustainability and obey the factors that make your company comply with it.
Daily, companies are preparing to deploy the Internet of Everything without even knowing it. But a deliberate approach to this issue will significantly increase the chances of seamless adaptation.
Does your development strategy already have a place for the Internet of Everything? Contact our specialists and get expert advice on how to transform your software following the new IoE reality.