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Key Discussions and Inspiration for 2021 from the IoT Economy

With the state of the media and the impact that recent crises have had on public safety, it is important to remember that business leaders have the ability and power to create better stories. Connectivity based technology has the possibility to address some of the toughest challenges of our world in regards to human health, safety, environmental protections, security, and communication.

The World Economic Forum (WEF) says that connectivity based inventions and solutions are crucial for moving the United Nations Sustainable Development Goals forward. IoT also has the potential to facilitate recovery from the pandemic in terms of improving safety, increasing access to healthcare, and building more resilient communities.

Here are some examples of initiatives that you may find relevant, timely, and insightful as the world continues to move forward in 2021. Perhaps these resources will help inspire your own organizational areas of focus, both this year and over the next several years.

Internet of things (IoT) applications to fight against COVID-19 pandemic

Source: Research Published in Diabetes & Metabolic Syndrome: Clinical Research & Reviews

A team of academic researchers in Northern India collaborated on a study of whether IoT could reduce healthcare costs and improve treatment outcomes for COVID-19 patients. This research found a relationship between the use of sensor technology and a reduction in hospital readmission rates. 

This paper focused on 12 significant applications of IoT, particularly around the use case of coordinating health information between providers and patients.

IoT applications in the fight against COVID-19

Source: GSMA

Connectivity enabled tech has been particularly valuable in developing nations that are struggling from pandemics and overtaxed healthcare systems. Interesting developments are emerging with regards to vaccine chain monitoring and drones for delivering vaccines and PPE. 

This technology is particularly important for regions experiencing multiple pandemics or concurrent natural disasters.

The power of value 4.0 for the industrial internet of things

Source: MIT Technology Review 

Business leaders are navigating aggressive changes over short timeframes. One of the biggest challenges during this time is the ability to measure results and reflect upon performance. One way to generate more effective insights is to utilize IoT sensors to deliver concrete and measurable business objectives in a short period of time. 

This article shares expertise for how to make this idea a reality, including creating continuous, scalable processes for innovation.

Why IoT is key to a seamless supply chain

Source: Supply Chain Brain and Sigfox

IoT has the potential to influence many parts of a fast-moving and interconnected supply chain. One low hanging area of opportunity is on accountability — making sure that goods move safely to their destinations, on time. 

This article discusses the applicability of a global 0G cellular network to this goal. It also explores how to select cloud services to orchestrate insights from connectivity.

Predictions 2021: technology diversity drives IoT growth

Source: Forrester

Industry analyst Forrester predicts that the IoT economy will boom in 2021. The COVID-19 pandemic and resulting public health crisis has resulted in a need for ingenuity in healthcare, smart office environments, and supply chain operations. Companies are also settling into remote-first ways of doing business.

One of the challenges to emerge; however, is that network connectivity diversity is likely to create chaos. With the deployment of 5G and the evolution of connectivity options, there’s a need for deeper thinking around specific and practical applications of technology.

Advances in connected worker technology in the aftermath of the pandemic

Source: PwC

One of the biggest challenges, this year and moving forward, will be to build a sense of cohesion among essential workers — and to establish a deeper sense of empathy between C-suites and people on the ground.

IoT, especially combined with AR and VR can provide the contextual insight needed to strengthen human relationships. Remote training, virtual site visits, and inventory management tech are a few example resources to support communication and collaboration. 

Final Thoughts

IoT solutions require careful and thorough due diligence prior to implementation. With an increased diversity of devices, security risks increase proportionally. Recent cyber attacks, particularly on United States institutions, reinforce that companies cannot take their vulnerability postures for granted.

Regardless of these challenges, the only way forward is through. Adversity cannot overshadow the promise of ingenuity. The problems that we face, whether we’re dealing with bad actors, environmental challenges, or pathogens, are within our power to resolve.

Maven Wave helps manufacturers to modernize operations with cloud-based solutions that drive agility, support innovation, and reduce costs. To learn how we can support your IoT initiatives, contact us.

About the Author

Ritika Puri
Ritika Puri is a sociologist, writer, and ecosystem-builder who is on a mission to uplevel human potential by expanding the consciousness of leaders. She specializes in working with extremely high performers, in high stakes situations, to help them align their everyday decisions to a timeless historical legacy. She helps organizations and leaders stretch the limits of what’s possible and has been the storytelling muscle behind some of the world’s most innovative organizations. Her teaching methods come from her lifelong experiences in martial arts, which she has been teaching to others since she was 12 years old. She has prepared hundreds of executives to speak at events ranging from The Lean Startup Conference to Mobile World Congress and the U.N. General Assembly. She holds a B.A. in Literature from Claremont McKenna College and M.A. in Demographic Analysis from the University of California at Irvine. She is one of the co-founders and lead consultants at Storyhackers.com.
January 19th, 2021

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