Search
Exact matches only
FILTER BY
Select all
Posts
Pages
Careers
Employers
POSTS
Select all
Architecture & Design
Articles
Podcasts
Videos
Building Management
Articles
Podcasts
Videos
Business Services
Articles
Podcasts
Videos
Company News
Education Technology
Articles
Podcasts
Videos
Energy
Articles
Podcasts
Videos
Engineering & Construction
Articles
Podcasts
Videos
Food & Beverage
Articles
Podcasts
Videos
Healthcare
Articles
Podcasts
Videos
Hospitality
Articles
Podcasts
Videos
Industrial IoT
Articles
Podcasts
Videos
Original Series
Made in America
MarketScale Mornings
Podcast Network
& Rides
A Look Through the Lens with SiOnyx
AirIQ with Field Controls
AliTalks by AliMed
All Things Composites
Around the Table
Backstage Pass with Alford Media
Beyond Technology: The Experience Podcast
Bose Church Podcast
Bricks and Clicks
Build For Impact
Building a Better Bond by Fibrebond
Business Casual
Cashing-In with Tidel
Champions of Care
CineCast: A Cinedeck Podcast
ClearTalk
Collaborative Tech Talk
Conversation from The EDGE with Service Logic
Cooler News
CurveBeam Connect Cast
Digestible
Dirt Work
Discover the Truth
Diving Into Data
Drones In America
E2B: Energy to Business
eLearning Alchemist
Element Sessions
Engineering Value
Entering Excellence with Boon Edam
Enterprise Asset Intelligence
FDH Tech Talks
Fiberside Chat
Find Your Edge
Flintco Forward
Full Circle Healthcare
Fusion
Getting Technetical
Glass is in Session by Clarus
HealthFirst Talks
I Don't Care
LEDTalk with PixelFLEX
Life in Polymers with Westlake Plastics
Live Beautifully
Living Live with Ross Video
Make It Smarter
Making Bright Ideas Work
Manufacturing a Stronger Standard
Maverick of Marketing
Mecca Minute
Mission Critical to Mission Accomplished
NanoSessions
Noise Reduction
Nokia Today
Not Your Father's Data Center
Nut News with Select Harvest
On Air with Pinnacle
Orange Intelligenz
OrthoGuide
Parabellum
People. Process. Service
Perfecting Profits
Powerhouse Players
Propelling by Microdrones
Ratified
Recalibrate with Samsung Networks
Remote Possibilities
Retail Legends
Retail Refined
Roads Rails & Rides
Roboticist Chronicles
Roof Talks
Salary Capped
Say Yes To Travel
Scale with Sergio
Sounds Like Success
Spieckerman Speaks Retail
Straight Outta Crumpton
Suite Spot
Table for 2 with TableSafe
Talkin' Shop with Walbro
Tank Talk
Tech Talk with Absen
Test Your Network
The Art of Waiting
The Blind Spot
The Fourth Revolution
The Intersection with Bluewater
The Iron Fox Podcast
The Last Mile by Segway
The Marking Minute with Presco
TPC Talks
Track to the Future
Unwrapped: A Food Service Podcast
Video Vices with Contemporary Research
Water Solutions with Chem-Aqua
Weaver: Beyond the Numbers
Z-Band Tech Talk
Professional AV
Articles
Podcasts
Videos
Promoted Content
Retail
Articles
Podcasts
Videos
Sciences
Articles
Podcasts
Videos
Software & Technology
Articles
Podcasts
Videos
Sports & Entertainment
Articles
Podcasts
Videos
Transportation
Articles
Podcasts
Videos
Videos
Articles
Podcasts
Videos
Articles
Podcasts
Videos
CAREERS
Select all
AEC
Architecture & Design
Building Management
Business Services
Education Technology
Energy
Engineering & Construction
Food & Beverage
Healthcare
Hospitality
Industrial Iot
Media Production
Professional AV
Publications
Retail
Robotics
Sciences
Software & Technology
Sports & Entertainment
Transportation

DOES YOUR BUSINESS NEED THE INTERNET OF THINGS AND BLOCKCHAIN?

Experts expect global spending on information technology (IT) to reach an astounding $3.7 trillion in 2018. That’s 4.5 percent more than the spending in 2017, despite relative uncertainty in the market. Growth in several areas of IT will influence this spending, notably the Internet of Things (IoT) and blockchain.

With IT developing so quickly, it’s increasingly important that business decision makers make informed choices on how to move forward. Many businesses today are prioritizing customer satisfaction and connectivity. To move a company in this direction, executives must decide if IoT and blockchain can help their business.

WHAT IS THE INTERNET OF THINGS?

The “Internet of Things” may sound like just a trendy buzzword, but it’s a phenomenon that affects most people in the developed world in 2018. In short, the Internet of Things is the connectivity in everyday devices. Our society has created the Internet of Things by making coffee pots, refrigerators, thermostats, light bulbs, cars and many other objects into data transmitters and receivers.

Kevin Ashton is the expert credited with coining the term. He said, “If we had computers that knew everything there was to know about things—using data they gathered without any help from us—we would be able to track and count everything, and greatly reduce waste, loss, and cost.”

WHAT WILL THE INTERNET OF THINGS CHANGE?

Many experts may answer this question with one word: everything. It’s true that the Internet of Things has the potential to impact most parts of daily life. However, the leading industries that this technology seeks to change right now are energy, healthcare, retail, logistics, and manufacturing. Whether it’s the step counter on your wrist or the quality-control device on your machinery, it will be nearly impossible to avoid the Internet of Things in coming years.

Unlike other emerging technologies, such as augmented reality and artificial intelligence, the Internet of Things is not a disruptive innovation. Instead, it is an additive. Rather than demolishing existing businesses (like Uber did for taxis), the Internet of Things will drive savvy companies forward.

HOW TO IMPLEMENT THE INTERNET OF THINGS

The best ways to use the Internet of Things in any business will depend on the company’s needs, industry, and goals. Decision makers should consider where they can get the most value from the Internet of Things. For example, some businesses may want to use this technology to better understand its customers and their needs.

Another company may understand their customers well enough but could use the Internet of Things to make daily operations more efficient. The chances are that if a business faces a fundamental problem, there is some way the Internet of Things can help.

WHAT IS BLOCKCHAIN?

The term “blockchain” is often used side-by-side with “bitcoin,” which means that sometimes people use these terms interchangeably. While they are interconnected, blockchain and bitcoin are separate terms. Before a professional can decide if blockchain is right for the business, it’s essential to understand these two terms fully.

Bitcoin, in short, is a cyber-currency. Rather than spending a dollar or some other government-backed currency, bitcoin is entirely online. Blockchain is the type of technology that makes spending bitcoin possible.

Blockchain technology creates a record that is not centralized, which is essential to bitcoin and what makes it different than sending a payment of currency over a system like PayPal. Furthermore, blockchain technology is as impossible to change as the serial number on a dollar bill.

IS BLOCKCHAIN DISRUPTIVE?

Unlike the IoT, blockchain is an entirely disruptive innovation. In fact, turning the financial industry on its head is at the core of these technologies. In the aftermath of the 2008 financial crisis, many people went in search of an alternative to traditional banking. The answer was bitcoin. Bitcoin would need specialized technology to make it work, and blockchain was born from that need.

DO ALL BUSINESSES NEED BLOCKCHAIN?

While blockchain may not become as ubiquitous as the IoT (at least, not as quickly), there are plenty of business applicationsfor this emerging technology. Blockchain technology could help a business when it’s time for an audit. It can also help create better contracts and make supply chains more transparent.

Whether your business decides to implement both of these technologies, one, or neither, it is essential for decision makers to stay on top of trends in technology. Things can change quickly in IT, and you can get left behind if you move too slowly.

Read more at omnivex.com