According to a Gartner study, by 2020 the “Internet of Things” will create an additional $1.9 trillion for the economy, and 30 billion things will be connected as every product more than $100 will be ‘smart’.
DigitasLBi’s Tony Bailey, Vice-President/Group Director, Technology Capability Lead, Chicago & San Francisco, takes a closer look at this important trend coming out of CES 2014.
If there was one omnipresent theme on the main floor of CES, it was the "Internet of Things", a well-worn phrase that has come to represent the notion that machines are talking to each other and sharing data over the Internet. There was a smart watch from Samsung that could unlock your BMW. A suite of appliances from LG that had their own social networking app to let you know when the dryer cycle is done. There was also a sump pump that could send a text message when the battery backup is low. And then there were the dozens upon dozens of wearable devices from fitness trackers to toddler GPS units.
Behind these billions of sensors that will be deployed and gathering positions, measuring temperatures, calculating speeds, and protecting your basement from flooding, will be fascinating amounts of data. What makes it so special is that it's intimate, it's contextual and it can drive extremely relevant and personal insights. The opportunity is to use this data for more than determining the right display banner to show, the opportunity is to create more meaningful connections all around us.
How often do you pause when entering a search query to Google -- to see if it has the right (or a rather humorous) result? This is one example of taking localized data from people around you, combined with known personal attributes, to make a prediction in just one category.
Now imagine that applied to just a few of the 100+ times a day the average person uses their mobile phone. When these myriad data points are brought together in the right way, the insights will leave consumers with an increasing number of products and services that will surprise and delight thanks to the observations of these “Things”