It was not very long ago when I was reading an opinion from some industry insider when it was suggested that “Internet of Things” should be renamed. Well, my instant reaction to this was why? Is it like everybody is not aware of what it is? Maybe they do not. We all thought we know all about it, we defined it as a network of servers interacting to one another. But what it actually meant was new methods of collaborating, getting information and conducting commerce or can also be called life-altering potential.
Just like this, there is a functional definition of IOT. It is a network of things interacting with one another. But what it actually means is a completely new method of re-imagining services, products, and consumer expectations and even how we get on with the business.
The literal definition of IOT is the digital transformation
IOT is inherent in the concept of digital transformation. This is the reason it enables the businesses to know in detail about their consumers, react to things faster and serve them in several ways. Additionally, this means an ability to add some value where proper monetization of products and services can be done.
This goes well with all the businesses, regardless what they create. They may design tangible software or products. And if this new definition of IOT appears broad, it is because it actually is. But the question is how businesses are digitally transforming the design, operations, and development too.
Look for the real meaning of IOT
The definition of IOT may make you think about the methods of transforming your business digitally, then there is an event which may be for you only. You may hear a lot about the ways consumer-driven companies are transforming their businesses with IOT and AI. You may also come across the companies developing complex applications in order to deliver some new value to your consumers.
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