Today I attended the AIIA summit 'Navigating the Internet of Things' that presented a fascinating array of views on the past,present and future of the IOT. In this world, everything is connected to everything (Wong). It's predicted by 2020 there may be anywhere between 24 to 50 billions objects connected. An impressive trajectory that started with one toaster connected to the Internet in 1990! Things may be inanimate objects like toasters and computer racks, to mobile, living things such as you and me and cattle across Australia. Each of these objects generates data. The opportunity lies in tapping into this ocean of data to generate value. And of course, knowing the geographic location of objects and relationships between them will enhance the value proposition.
The day covered grand visions from Europe and Singapore to implement vast networks of sensors that can significantly reduce consumption of energy and enhance community safety. Also examples of people utilising connectivity between objects and people to deliver new services or replace existing business models.
The Hon Malcolm Turnbull talked passionately about the IoT as part of the second digital revolution that presented a massive opportunity to transform ways of doing business and the way Government delivered services to customers. He challenged everyone to 'rattle the cages' of complacency to find new opportunities.