accurately-predicting-the-future-of-iotYear after year, each December and January we’re inundated with articles predicting what the trends will be in the New Year. Headlines, such as “What to Expect in 2017 From Your Technology” dominate. The most popular topic making waves in the business world these days is the internet of things (IoT.) How are business leaders going to predict the future of the IoT accurately? How will the rest of us prepare for what’s to come?

Remember, we can discern quite a bit about the future by looking to the past. It’s important for business owners to stay forward thinking and to be driven by future possibilities. At the same time, it’s critical that we remember the past and don’t make the same mistakes again and again. Being mindful of the trends that have come and gone (as well as the predictions that never came to pass) will help you prepare for the year to come. 

Dont Repeat History

A little more than two decades ago, in the late 1990s and early 2000s, companies like Whisper, CellNet, and Hexagram unveiled machine-to-machine networking. However, their inability to think about the future of technology resulted in their downfall, and those companies are not in business today. Their technologies were strictly proprietary and unable to support many applications. Additionally, their limited capacity also meant they offered insufficient security. They would not have held up in today’s market, where digital security is a top concern for just about every industry.

A reliable network needs lots of bandwidth, and cybersecurity can never be just an afterthought. Although many IoT networks have resorted to staying small, hoping that an insignificant appearance would make for less attractive targets for hacking—any system can become a target. When developing new IoT technologies and networks, you cannot solely consider the intended uses. You must also determine how people are going to exploit them or illegally use them. The process of developing new tech needs to include the awareness of past failures or those lessons are doomed to repeat themselves.

Understand the Market

The IoT is already growing at an astounding rate and, according to Gartner, by 2020, more than half of major new business processes and systems will incorporate some element of the Internet of Things. Experts expect the number of connected things to reach 20 billion to 30 billion by 2020. Tech giants, such as AT&T, Samsung, and IBM, are already pouring billions into IoT investments. With these new trends, cybersecurity is going to continue to be a priority. These new connected things are going to need protection. As IoT networks grow, they become juicier targets for cybercrime.

Analyze Last Years Predictions

One of the best ways for you to hone the accuracy of your predictions is review last year’s “What to Expect” headlines and see what came to pass. Chances are, you’ll notice that many expectations never came to fruition, and some predictions have been proven completely wrong. As the IoT grows and the tech behind it evolves, some concerns that are being addressed will become very real issues, while others may dwindle in the face of new solutions.

By looking to the past, analyzing current market trends, and examining the predictions made previously, you will be able to forecast what’s over the horizon in the IoT world next year. The IoT is sure to grow – no one denies that – but it’s important to recognize how it will evolve in terms of a more precise industry lexicon and a big focus on successful services. A thorough analysis of where we were will open your eyes to where we are going in the coming year.

At Advanced AV we empower live meetings and remote collaboration by deploying the technology that helps your organization connect, communicate and engage with its customers, employees and stakeholders. Connect with us to find out more about how Advanced AV can help you achieve your business and technology goals.

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