Questions that arise from the IoT (McKinsey & Company)

  The Internet of Things (IoT) is evolving pretty quickly and it might come sooner than people might expect. McKinsey & Company has managed to contact some development experts from the MIT Media Lab. There are several questions that arise from the IoT.

1. What do you regard as the most interesting use of the Internet of things?

Most of them argued that having control things with the use of sense detectors will help healthcare, safe energy and reduce costs for corporations. One of them mentioned that Uber is the biggest example of IoT so far.

2. What’s the biggest risk associated with the Internet of Things?

The vast majority discussed that privacy and security were the main issues by everything being connected to each other. Several take it even further and say that any illegal exposure can result in physical and social and economic harms. Imagine someone taking control of your device and tries to do something wrong, for instance a car.

3. What one factor would most accelerate the benefits of the Internet of Things?

One mentioned interoperability; we need to lower the barriers to make it easier to operate this concept, from the software to the hardware. Another factor is the abundant use of energy that this concept will require in the future and how are we going to manage and acquire such large quantities of energy required. Lastly, they argued how they have to increase investments to implement it. He said that people are not aware of the tremendous competitive advantage corporations have if they adopt this now, before everyone else jumps on board.

4. What’s one policy change that would accelerate the benefits of the Internet of Things?

They said that we should focus on ip-encumbered technology, clarify the rules of drones and create laws that are uniform and that protect data-privacy. The main concern seems to be how to control both the data and the drones.

5. What’s the one piece of advice for a business leader interested in the Internet of Things?

Most of them agreed on the fact that they have to be engaged in start-ups and non-traditional innovators. http://www.mckinsey.com/insights/high_tech_telecoms_internet/the_internet_of_things_five_critical_questions