Yet the IoT is moving ever faster, developing at an astonishing rate and continuously reinventing itself. Those used to the ever-changing nature of the IoT will know by now that it's constantly changing, but will also be aware that innovation in certain areas matters much more than gradual developments elsewhere. A quick review of the 4 things reshaping the IoT's future the most shows which industries will be most vital towards its development and offers an alluring glance of what the IoT of tomorrow will look like: Few things empower the IoT as much as the sensors which make up its physical senses in the real world; already, millions of embedded sensors help companies and individuals collect useful data about the world around them, so that they may in turn shape it with better business decisions or new products. The IoT sensor market alone is expected to be worth a staggering $27 billion by 2022, and the rapid growth of an industry supplying the physical sensors and the coding that powers them will only continue in the coming decades. As refinements to sensory technology continues, IoT-connected devices will be able to collect more data in less time at cheaper rates, and they'll be able to better store, sort, sell, and make use of that data in the marketplace.
Editor's Note: The following is a guest post from Ramiro Amaral, director, strategy and consulting, and Pascoe Craig, senior account director, at SapientRazorfish. Once a novelty item, voice assistants such as Amazon's Alexa and Google Assistant are getting more traction and becoming an accepted and valued part of the consumer's life. Integrated into everything from countertop speakers to cars, these offerings are helping deliver on the promise of a more intuitive and human-centered way of interacting with technology. These voice-based interfaces, powered by artificial intelligence (AI) platforms and cloud-based infrastructures, are changing the way consumers perform everyday tasks, from searching and cooking to commuting and communicating and are slowly creating new habits, mental models and expectations around specific categories. Very soon, the technologies in the connected home will be managing requests, automating preferences and determining the flow of products as our personal assistants.
The new app by SnapPlanet won this year's Space App Camp Award at the Mobile World Congress in Barcelona. SnapPlanet is a social network that brings earth observation data to the mass market, so users can play around with and post the latest space imagery on social networks. The fact that ordinary people and businesses can now access space data easily through ESA is not only changing consumer perceptions but transforming the way companies do busines. For example, German insurance company, Munich Re is leveraging geospatial satellite data to accurately calculate costs and risks related to wildfires, and to gain insights into the future probability of wildfires. There is nothing new about digital transformation.
Congress is poised to roll back FCC privacy protections in a way that could seriously compromise our online lives. The protections require internet service providers to secure consumer data and obtain consumers' consent before mining and selling it. Terrell McSweeny (@TMcSweenyFTC) has been a commissioner at the Federal Trade Commission since 2014; previously she was a policy advisor to President Barack Obama and Vice President Joseph Biden. Chris Hoofnagle (@hoofnagle) is an adjunct professor of information and of law at UC Berkeley, and elected member of the American Law Institute. The resolution that could come to a Congressional vote this week aims to tackle differences in how the FCC rule treats ISPs compared with other internet companies.
In both the consumer and business worlds, technology is constantly and rapidly evolving. Unique and innovative new business, health and consumer technologies are emerging every day, but sometimes it takes a little time for the "next big thing" to get recognized and catch on. Google, for instance, launched the original iteration of G-Suite back in 2006--long before the cloud computing and real-time collaboration became the standard. As leaders in the tech field, the members of Forbes Technology Council are always on the lookout for emerging devices, programs and systems that could revolutionize their industry--even if the tech is still in its early phases. We asked a group of them to share the most impressive piece of tech from the last three years that most people aren't aware of yet.